Anta increases its profit by 29% in first quarter of 2019 after Amer Sports’ acquisition
The Chinese sports fashion distribution company made a profit of 2,581.5 million yuan (373 billion dollars), while its revenue stood at 14,810 million yuan (2.1 billion dollars).
Anta consolidates its stance after a year of significant investments. The Chinese sports fashion distribution company has ended the first six months of its fiscal year (closed June 30) with a revenue of 14,810 million yuan (2.1 billion dollars), 40.3% increase than the previous year. Net profit, meanwhile, stood at 2,581.5 million yuan (373 billion dollars), an increase of 29%.
The profits already take into account the acquisition of Amer Sports, for which it paid 4,661 million euros (5.1 billion dollars). Not taking into account the said purchase, which was made with private funds, Anta would have obtained a net profit of 3,073.6 million yuan (444 billion dollars), 53.5% more than in 2018.
“To improve our effectiveness as an organization, we have divided our brands into three categories: technical, fashion and outdoor,” said Ding Shizhong, president of Anta. “In addition, we have acquired Amer Sports, which includes prestigious international brands and represents a step forward in our internationalization,” he added.
Fila has become the sales engine of Anta in China after reaching sales of 510 million dollars
The main sales engine has been Fila, whose business in China belongs to the Asian group since 2009. The Italian brand improved its revenue by 80% in 2019, to 3,537.8 million yuan (511 million dollars), and it already rivals Anta's brand. Its parent company ended 2019 with revenues of 7,589.7 million yuan (1.1 billion dollars), up 18.3%.
The changes in the group’s market presence can be noticed in its number of stores, which amounts to a total of 12,479 stores. 82% are Anta’s own brand, although the biggest thrust has been experienced by the premises of Fila, which now has a network of 1,788 points of sale in China, a hundred more than at the end of 2018.
As regards the product categories, textile represents 61.8% of Anta’s total sales. At the end of the first six months of its fiscal year, it stood at 9,150.8 million yuan (1,189 million euros), 51% more than in the same period as in 2018. Sports shoes, on the other hand, contributed 5,123, 7 million yuan (666 million euros), up 24.7%.
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