Japan/South Korea
Revenues in Japan/South Korea increased 10% on a currency-neutral basis. In euro terms, sales improved 4% to € 1,339 million from € 1,293 million in 2023. The currency-neutral increase was driven by double-digit growth in Lifestyle, including a strong double-digit increase in Originals. In Performance, Football grew double digits.
Net sales in Japan/South Korea
+10%
C.N.
€ 1,339 million
|
|
2024 |
|
2023 |
|
Change |
|
Change |
|---|---|---|---|---|---|---|---|---|
Net sales |
|
1,339 |
|
1,293 |
|
4% |
|
10% |
Gross margin |
|
53.1% |
|
52.5% |
|
0.5pp |
|
– |
Segmental operating profit |
|
295 |
|
268 |
|
10% |
|
– |
Segmental operating margin |
|
22.0% |
|
20.7% |
|
1.3pp |
|
– |
Gross margin in Japan/South Korea increased 0.5 percentage points to 53.1% from 52.5% in 2023. An improved business mix, benefits from price increases, lower sourcing costs, and less discounting more than offset significant negative currency developments. Operating expenses were flat at € 428 million (2023: € 427 million). However, operating expenses as a percentage of sales decreased 1.1 percentage points to 32.0% (2023: 33.0%). Operating profit in Japan/South Korea increased 10% to € 295 million versus € 268 million in 2023. The operating margin increased 1.3 percentage points to 22.0% from 20.7% in 2023.