China's first sports brand to break 30 billion yuan, Anta Sports' revenue reaches 62.4 billion in 2023

On March 26, Anta Sports Goods Co., Ltd. announced its 2023 results. During the period, Anta Sports achieved revenue of 62.356 billion yuan, a year-on-year increase of 16.2%; profit attributable to shareholders was 10.236 billion yuan, a year-on-year increase of 34.9%; operating profit margin increased by 3.7 percentage points year-on-year to 24.6%, and gross profit margin increased by 2.4 percentage points year-on-year to 62.6%.

In 2023, Anta brand revenue increased by 9.3% year-on-year to 30.306 billion yuan, becoming the first Chinese domestic sports brand to exceed the 30 billion mark. The operating profit margin increased by 0.8 percentage points year-on-year to 22.2%; FILA brand revenue increased by 16.6% year-on-year to 25.103 billion yuan, and the operating profit margin increased by 7.6 percentage points year-on-year to 27.6%; the revenue of all other brands increased by 57.7% year-on-year to 6.947 billion yuan, and the operating profit margin increased by 6.5 percentage points year-on-year to 27.1%.

In addition, Anta Sports disclosed that AMER SPORTS was successfully listed on the New York Stock Exchange, and the joint venture's operations continued to improve significantly. Revenue increased by 30.1% year-on-year to 31.248 billion yuan, and EBITDA increased by 45.4% year-on-year to 3.745 billion yuan. During the reporting period, the three core brands (Arc'teryx, Salomon, and Wilson), DTC business and the "five 1 billion euro goals" in the Chinese market were achieved one year ahead of schedule.

It is worth noting that in 2023, Anta's net cash flow from operating activities reached 19.634 billion yuan, a year-on-year increase of 61.6%; free cash flow reached 17.823 billion yuan, a year-on-year increase of 71.1%. Inventory problems have also improved, with the average inventory turnover reduced by 15 days year-on-year to 123 days.

From the perspective of revenue, the top four companies in China's sporting goods industry in terms of revenue in 2023 are: Anta Sports, Nike China, Li Ning Company, and Adidas China. Anta Sports' revenue in 2023 is equivalent to 1.2 Nike China, 2.3 Li Ning Company, 2.6 Adidas China. Anta Group's revenue accounts for 37% of the total revenue of the top four companies.