Companies

Mango posts strong 2024 results

Mar 12, 2025 Spain

The Spain-based fashion retailer has posted strong results for fiscal 2024, with turnover up by 7.6% and net profit up by 17% as compared to the previous year

“We 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 model”, commented Toni Ruiz, Chairman and CEO of Mango.

Mango reported a turnover of 3.34 billion euros in 2024, an increase of 7.6% on a comparable basis to the previous year. At constant exchange rates, turnover increased by 11.6%, above the market average.

The physical channel contributed almost 2.2 billion euros to the company’s total turnover and the online channel “consolidated its growth” with almost 1.1 billion euros.

Mango said that the international business accounted for 78% of total turnover, with Spain, France, Turkey, Germany and the US continuing to be the top-selling countries, closely followed by Italy, the UK and Portugal.

The fashion retailer opened more than 260 stores in 2024, bringing the total number of stores at the end of the financial year to almost 2 850 in more than 120 markets around the world. The number of employees increased by more than 900 to more than 16 400 at the end of the year.

In terms of profitability, the company’s gross operating profit (EBITDA) reached 636 million euros, up by 19% from 2023, and net profit was 219 million euros, up by 17% from 2023.

“The growth achieved in 2024 has been accompanied by a high rate of investment”, highlighted the company. Last year saw the highest investment in Mango’s history, 17% more than the previous year, mainly in the opening and refurbishment of stores, technological innovation, the expansion of logistics capacity and the Mango Campus.

Toni Ruiz concluded: “We 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”.

Image Credits: newswire.ca

Spain Companies Fashion Mango Results Year Results