Under Armour: a turnover of $5.27bn (+1%) and net profit of $92.13m after two years of losses

Under Armour posted a turnover of $5.26bn (€4.68bn on 31/12/2019) for the financial year 2019, up 1% compared to 2018 ($5.13bn/€4.53 bn on 31/12/2018), according to the American equipment manufacturer on 11/02/2020. This is a record turnover for Under Armour, which was founded in 1996.

The group posted an operating profit of $236.77m (€210.7m) and a net profit of $92.13m (€82m) after two consecutive years of net losses (-$46.3m in 2018 and -$48.3m in 2017), the only two since the group began publishing its accounts (earliest published accounting data: 2003).

The "apparel" category contributed $3.47bn (€3.088bn), or 65.8% of the total, while revenues from "licensing" (+11.2%) and "connected fitness" (+13.3%) were the product categories that grew the most in 2019.

North America is Under Armour's leading trading area, with sales of $3.658bn (€3.256bn) in 2019, representing 69.4% of the group's turnover, despite a 2.1% drop in turnover for the region. The Asia-Pacific region is the fastest growing region (+14.2%) and has become the second largest trading area ahead of EMEA.

• This turnover…