Significant revenue increase: Hummel returns to profit in 2024
Danish sportswear supplier Hummel A/S saw a significant increase in its revenue in the 2024 financial year and returned to profitability. This was revealed in the latest figures published by the company last year, December 30, 2024.
Accordingly, revenue reached 326 million euros in the past financial year. This represented a nine percent increase compared to 2023. The long-established company, which belongs to the Danish Thornico A/S group, was thus able to set a new revenue record for the fourth year in a row.
A key growth driver was the team sports division, with a 20 percent increase in revenue in Europe. The company systematically expanded its activities in the amateur club sector. This 'strategic advance' brought Hummel closer to its 'ambitious goal' of working with 10,000 clubs by 2028, the company explained. In addition, demand for shirts from professional clubs Werder Bremen, AFC Sunderland and Real Betis, as well as the Danish national football team, also increased. Positive effects of 'strategic realignment'
Thanks to a 'strategic realignment', which primarily focused on concentrating on the core business and the long-term positioning of the brand, the sportswear supplier was also able to make considerable progress in terms of profitability. Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to 19.2 million euros.
The bottom line showed a net profit of 1.6 million euros. In the previous financial year, Hummel had posted a net loss of 13 million euros. According to the company, the improvement was partly due to efficiency gains in the supply chain and the reduction of inventories.
For 2025, Hummel expects stable revenue development and 'substantial progress' in operating business, particularly in the core categories of football, handball and kidswear.
'The year will continue to be influenced by external factors such as high inflation in Turkey, a challenging global business environment and significant investments in product development and brand positioning,' explained CEO Lars Stentebjerg in a statement. This article was translated to English using an AI tool.
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