The Canadian textile group Gildan Activewear Inc. was able to easily improve its sales in the 2024 financial year. However, the profit decreased significantly due to one -off loads. In addition to the current results, the company also announced changes in the management team on Wednesday.
In the latest financial year, which was completed on December 29, the group sales were $ 3.27 billion (3.14 billion euros), which corresponded to an increase of 2.3 percent compared to the previous year and was within the framework of the expectations .
Special effects put a strain on the result
The company was able to increase its gross margin, but also had to record high disposal, which resulted from the costly leadership dispute in the first half of the year. The operational result fell by 4.0 percent to $ 618.2 million.
The designated net profit shrank by 24.9 percent to $ 400.9 million (384.3 million euros). Adjusted for special effects, the annual surplus rose by 8.2 percent to $ 489.7 million.
For 2025, the management now expects sales growth by an average single -digit percentage. The wasted profit per share, which was adjusted for special effects, which was $ 3.00 in 2024, is to be increased to $ 3.38 to $ 3.58.
The group changes the head of finance and appoints his first COO
The group also announced changes in the management team. According to this, Chuck Ward, the current President, Sales, Marketing and Distribution, is promoted to the newly created post of the Executive Vice President (EPP), Chief Operating Officer.
In addition, the company receives a new head of finance. Rhodri Harries, who currently holds the role of the EVP, Chief Financial and Administrative Officer, will retire on January 1, 2026, the group said.
His successor as an EPP, Chief Financial Officer, will compete on March 1, Luca Barile. He has been with Gildan since 2012 and is currently holding the position of CFO, Sales, Marketing and Distribution. Harries will remain in the company as a Chief Administrator Officer until the end of the year to ensure smooth transition, according to a message.