Under Armour: a record financial year in 2021 with $5.68bn in turnover (+27%) and a $360m net profit

Under Armour has posted a turnover of $5.683bn (€5.08bn as of 31/12/2021) for the financial year 2021, up 27% compared to 2020, a year hit by the Covid-19 pandemic ($4.474bn/€3.64bn as of 31/12/2020), announced the American equipment manufacturer on 11/02/2022. The company, founded in 1996, has thus recorded the highest turnover in its history following the previous record of $5.26bn in 2019 (€4.68bn on 31/12/2019).

Under Armour posted an operating profit of $486.2m (€429.2m, compared to -$613.3m/-€499.2m in 2020) and a net profit of $360m (€317.9m), versus a loss of $549.17m (€447m) in 2020.

After a strong increase in online sales (+40% growth between 2019 and 2020), Under Armour's e-commerce grew by 4% in 2021 and accounted for 39% of the $2.3bn (€2bn) in direct-to-consumer sales activity (+26% for the year). Wholesale sales increased by 36% to $3.2bn (€2.8bn).

The "clothing" category contributed $3.84bn (€3.39bn), or 67.5% of the total, ahead of the "footwear" ($1.26m, or 22.2% of the total) and "accessories" ($461.8m, or 8.1% of the total) categories. Sales in each of these three…