The Chinese apparel and sporting goods group Anta Sports Products Limited closed the 2022 financial year with a solid increase in sales and a slight improvement in its operating result. This emerges from a recent annual report published by the parent company of brands such as Anta, Fila and Descente on Tuesday.
Accordingly, the group’s sales last year amounted to 53.7 billion Chinese yuan (7.3 billion euros), which meant an increase of 8.8 percent compared to 2021. The core Anta brand grew 15.5 percent to 27.7 billion Chinese yuan, while Fila sales shrank 1.4 percent to 21.5 billion Chinese yuan. The other group brands together came to 4.4 billion Chinese yuan and exceeded the previous year’s level by 26.1 percent.
The group of companies was also able to improve its operating result: it rose by 2.2 percent to 11.2 billion Chinese yuan. Net profit attributable to shareholders, however, fell 1.7 percent to 7.6 billion Chinese yuan (1.0 billion euros).
The group also announced that the Amer Sports group of companies, in which Anta holds a majority stake through a joint venture, was able to increase its sales by 21.8 percent to 24.0 billion Chinese yuan. The parent company of brands such as Wilson, Salomon, Peak Performance and Arc’teryx reported earnings before interest, taxes, depreciation and amortization (EBITDA) of 2.6 billion Chinese yuan, up 8.8 percent year-on-year.
Due to the ownership structure, the results of Amer Sports are not fully reflected in Anta’s consolidated balance sheet. Anta estimated the earnings contribution of the corresponding joint venture at 28 million Chinese Yuan.