China's Anta Sports' revenue jumps 16.2% in FY23

The company reported an uplift in its operating profit margin, which soared by 3.7 percentage points to 24.6 per cent compared to the previous year. This improvement reflects the company's strategic initiatives aimed at enhancing profitability and operational effectiveness, Anta Sports said in a press release.

Breaking down the performance by brand, the Anta segment itself demonstrated commendable growth, with revenue climbing by 9.3 per cent YoY to RMB 30.31 billion. Moreover, its operating profit margin witnessed an incremental rise of 0.8 percentage points, settling at 22.2 per cent.

The Fila segment, another cornerstone of Anta Sports' brand portfolio, outshone expectations with a 16.6 per cent increase in revenue YoY, reaching RMB 25.10 billion. Notably, Fila's operating profit margin catapulted by an impressive 7.6 percentage points to 27.6 per cent.

Furthermore, the conglomerate's other brands collectively reported a remarkable surge in total revenue by 57.7 per cent YoY to RMB 6.95 billion. The operating profit margin for these brands also experienced a substantial increase, up by 6.5 percentage points to 27.1 per cent.

Amer Sports, Inc., a subsidiary under Anta Sports, also contributed significantly to the group's overall success. It reported a 30.1 per cent increase in revenue YoY to RMB 31.25 billion, alongside a 45.4 per cent rise in EBITDA to RMB 3.75 billion.

"The group will firmly adhere to the development strategy of 'Single-focus, Multi-brand, Globalisation', continuously exploring the path of globalisation through its unique business model of brand plus retail. The 'Multi-brand' approach aligns with the diverse consumer demands in the multi-level and full range of scenarios in the Chinese sportswear market, instilling us with confidence in the future prospects of the Chinese market and the group's development," said Lai Shixian, executive director and co-CEO of Anta Sports.

Fibre2Fashion News Desk (DP)