To constant exchange rates, billing grew by 11.6 percent, exceeding the market average. The gross operational profits (EBITDA) rose to 636 million euros, 19 % year -on -year, while net earnings reached € 219 million, reflecting an increase of 27 percent compared to the previous year.
The increase in billing in 2024 was complemented with an increase in the gross margin, which reaches 60.7 percent of sales, along with greater profitability.
The mango experienced strong growth in 2024, with a turnover by increasing 7.6 percent to 3,339 billion euros (~ $ 3.64 billion). The investments reached a record of € 219 million (~ $ 238.71 million), focusing on the expansion of the store, technology and logistics. International sales contributed 78 percent of income. Sustainability efforts advanced, with impact fibers 72 percent of lower impact used.
Since 2019, the company has increased its income by 40 percent, above the average sector. The year 2024 saw the greatest investment in the company's history, 17 percent more than the previous year, mainly assigned to the opening and renewal of stores, as well as to technological innovations, the expansion of its logistics capacity and its campus, Mango said in a press release.
The mango opened more than 260 new physical stores in 2024, which takes the total to more than 2,800 in more than 120 markets worldwide. Meanwhile, the online channel represented a third of the company's sales, generating a turnover of approximately € 1.1 billion.
The international mango business represents 78 percent of total income. The countries with the greatest billing continue to be directed by Spain, France, Turkiye, Germany and the United States, closely followed by Italy, the United Kingdom and Portugal.
All business lines worked well for the company. The segments of man, children and adolescents experienced strong growth, increasing their participation in total turnover. Meanwhile, the women's segment remained the main driver of mango sales, contributing to 79 percent of the business.
The growth achieved in 2024 was accompanied by a high level of investment. Mango invested a total of € 219 million, part of the 600 million euros described in its strategic plan until 2026. In 2024, investments focused mainly on expanding and restoring their network of stores, advancing in technological innovations, increasing logistics capacity and developing the new mango campus. Throughout this phase of expansion and investment, the company maintained a solid financial position.
“In 2024 we have strengthened our value proposition. We have strongly invested in improving the network of our store (with numerous openings and restorations), in technology, logistics and the new mango campus. We are at the best time in our history, and we are investing to lead to a new level of growth. The mango project is stronger than ever. Toni Ruiz, President and Executive Director (CEO) of Mango.
Commitment to society and the environment
In the development of products, the company progressed towards its objective of using 100 % lower environmental impact fibers by 2030, since it has already reached 72 percent, and 25 percent of them are recycled. In addition, he introduced regenerative cotton in his collections for the first time through an association with Materra, promoting his circularity efforts.
Almost a third of this year's garments were designed by the ecological. The mango also supported sustainable, traceable and measurable social initiatives, both within its supply chain, where it promoted responsible practices, and in society in general. He continued its social action programs, focusing on three key areas: education, social assistance and health, aligning with the objectives of the company described in its 2024-2026 strategic plan, Plan 4E.
By 2026, the company expects to exceed 4 billion euros in billing while it remains committed to quality, internal design, innovation and sustainability, added the launch.
Fiber2Fashion News Desk (SG)
