The US sporting goods provider Topgolf Callaway Brands Corp. closed the 2023 financial year with a solid increase in sales. However, the profit of the parent company of the German outdoor outfitter Jack Wolfskin clearly missed the previous year’s level. This emerges from an annual report that the company published on Tuesday evening.
Accordingly, group sales last year amounted to 4.28 billion US dollars (4.00 billion euros), which corresponded to an increase of 7.2 percent (currency-adjusted +7.9 percent) compared to 2022.
The sales of the golf simulator operator Topgolf grew by 13.7 percent to 1.76 billion US dollars, not least thanks to numerous newly opened facilities. In the golf equipment business, revenue fell by 1.4 percent to $1.39 billion, although after adjusting for currency effects they were slightly above the previous year’s level (+0.1 percent).
The “Active Lifestyle” division, which also includes Jack Wolfskin, achieved an increase of 9.2 percent (currency-adjusted +9.7 percent) to 1.14 billion US dollars. According to the group, the growth in this segment was due not least to double-digit growth at the sportswear label Travis Mathew.
However, higher one-off charges caused the group’s operating profit to slip by 7.4 percent to $237.7 million. Net profit even shrank by 39.8 percent to 95.0 million US dollars (88.8 million euros) due to increased interest expenses.