Fila Holdings Reports Q3 Operating Profit of 121.8 Billion KRW, Up 10.4% YoY

[Asia Economy Reporter Song Seung-yoon] FILA Holdings announced on the 16th that its consolidated operating profit for the third quarter of this year increased by 10.4% year-on-year to 121.8 billion KRW.

Sales also recorded double-digit growth, rising 16.4% compared to the same period last year to 1.0795 trillion KRW.

The strong performance of Acushnet and benefits from exchange rate increases contributed to driving overall results. By business segment, Acushnet continued growth mainly in the North American market, recording sales of 753.8 billion KRW, up 24.4% year-on-year. Operating profit reached 99.1 billion KRW.

In the FILA segment, sales increased by 1.4% year-on-year to 325.7 billion KRW. Operating profit was 22.7 billion KRW. The FILA segment experienced a decline in sales due to changes in direct business operations aimed at executing mid- to long-term strategies. However, strong performance in royalty and joint venture businesses offset the decrease in direct business results. FILA Korea, which operates domestic business, posted consolidated sales of 118.4 billion KRW and operating profit of 20.2 billion KRW for the third quarter, up 4.6% and 2.3% respectively compared to the same period last year.

Lee Ho-yeon, CFO (Chief Financial Officer) of FILA Holdings, said, "Despite concerns over performance during the implementation phase of the global five-year strategy, we were able to achieve double-digit growth in both sales and operating profit thanks to Acushnet’s solid growth and strong performance in royalty and joint venture businesses." He added, "Rather than focusing on short-term results, we will make multifaceted efforts to redefine the FILA brand value with long-term goals in mind."

This content was produced with the assistance of AI translation services.