Spanish fashion giant Mango has delivered another strong set of results, reporting an increase in both turnover and profits.
In its results for the 2024 financial year, Mango reported a 7.6% increase in turnover to more than ā¬3.3bn (Ā£2.8bn). The retailer said at constant exchange rates, turnover grew by 11.6% above market average.
EBITDA jumped by 19% year on year to ā¬636m (Ā£534m) and a net profit of ā¬219m (Ā£183.9m)āa 27% improvement on the 2023 financial year.
Mango chairman and chief executive Toni Ruiz said: āWe are very pleased to present excellent results for 2024. Our sales have grown by 7.6% and we have significantly improved our profitability. EBITDA has grown by almost 20% and net profit by 27%. This demonstrates the attractiveness of our value proposition and the soundness of our business modelā.
Mango said the growth it achieved in 2024 has been āaccompanied by a high rate of investmentā, noting it invested ā¬219m (Ā£183.9m) during the period.
The brand has earmarked ā¬600m (Ā£503.8m) of investment by 2026.
Mango said this is the highest investment in a year in its history, a 17% increase on the 2023 figure.
āIn 2024 we strengthened our value proposition. We invested strongly in improving our store network (with numerous openings and refurbishments), in technology, logistics and the new Mango Campus.
āWe are in the best moment of our history, and we are investing to take Mango to a new level of growth. The Mango Project is stronger than ever. We are convinced that the most brilliant pages of our history are yet to be written,ā Ruiz added.
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