Record-Breaking Revenue and Growth
In 2023, ANTA Sports achieved the best results in its history with a revenue of CNY 62.3 billion, up 16% year-on-year. ANTA brand revenue exceeded CNY 30 billion for the first time, up 9%, while FILA's revenue was CNY 25.1 billion, up 16.6%, and other brands saw a 57.7% increase to CNY 6.9 billion.
Improved Operating Profit Margins
The operating profit margin for the group increased by 3.7 percentage points to 24.6% year-on-year, attributed to improvements in shop and area efficiency as well as merchandise inventory management.
Strong Cash Flow and Dividend Payout
Operating cash flow was CNY 19.6 billion, up 60% year-on-year. The company maintained a dividend payout ratio of 50.7%.
Amer Sports Performance
Amer Sports revenue in RMB terms reached CNY 31 billion, up 30% year-on-year, with EBITDA up 45%. Amer Sports' listing on the New York Stock Exchange will yield a one-off noncash gain of CNY 1.6 billion for ANTA.
Healthy Inventory and Working Capital Management
Inventory turnover days decreased by 15 days year-on-year, indicating efficient inventory management. The total inventory decreased while revenue increased by 16%.
ESG Achievements
ANTA reduced overall greenhouse gas emission intensity by 36% and water resource consumption density by 9%. The company improved its ESG ratings with MSCI rising to BBB.