The Spanish clothing retailer Mango recovered well from the consequences of the Covid-19 pandemic in the 2021 financial year. On Thursday, the company announced that it was able to increase its sales significantly. The net profit was even more than three times as high as in the pre-crisis year 2019.
Group sales last year amounted to 2.23 billion euros. This exceeded the previous year’s level by 21.3 percent and just missed the record value of 2019. The online business made an important contribution to growth, with revenues increasing by 23 percent to EUR 942 million. As in the previous year, the e-commerce share of total sales was 42 percent. Over the past year, Mango has further expanded its online presence and opened up new markets such as Thailand. According to its own statements, the company is now “represented in a total of 85 markets with digital sales channels”.
The strong recovery in sales also ensured a significant improvement in earnings: Earnings before interest, taxes, depreciation and amortization (EBITDA) exceeded expectations and, at EUR 423 million, were more than twice as high as in the previous year. The net profit was 67 million euros after Mango had to report a large loss in the previous year. Compared to 2019, the surplus has more than tripled.