Hummel’s Financial Rebound: Focus on Core Markets Powers Growth

Back in Profit
Danish sportswear brand Hummel returned to net profitability in 2024, posting a €1.6 million profit—compared to a €13 million loss in 2023—on €326 million revenue (9% YoY growth; €19.2 million EBITDA).

Core Strategy Driving Growth
The turnaround is thanks to a strategic shift, concentrating on team sports apparel and key markets such as Germany, Spain, Turkey, India, and the U.S. Revenue from team sports in Europe surged over 20%, aided by partnerships with clubs like Werder Bremen, Sunderland, Real Betis, and national teams.

Market Expansion & U.S. Focus
Hummel is aggressively expanding across North America, notably signing five USL football clubs, national teams from Puerto Rico and the U.S. Virgin Islands, and aiming to triple U.S. revenues by 2028.

Efficiency Gains & Investment
Since 2021, management has centralized functions (marketing, finance, logistics), optimized supply chains, and reduced inventory, improving per-revenue efficiency. They expect continued profitability gains amid external pressures like inflation in Turkey.

Ambitious 2028 Goals
By 2028, Hummel aims for annual revenue of ≈ DKK 4 billion (~€536 million), profit before tax of DKK 330 million, and partnerships with 10,000 amateur clubs worldwide.

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