Fila Holdings talks of “robust” results for 2024

Fila Holdings has announced an enhanced shareholder returns policy and alongside this has also revealed the basics of its results for 2024.

The South Korea-based company that owns Fila, among other brands, called the results “robust” and said they were driven by the continued strength of its US golf subsidiary, the New York Stock Exchange-listed Acushnet Holdings Corp.

The numbers were also helped by favourable currency exchange rates, and improved cost management.

The firm’s consolidated revenue reached KRW4.27 trillion (€2.9bn/£2.5bn/$4.3bn), a 6.5% year-on-year increase.

Operating profit rose to KRW 360.8 billion, up 18.9% from the previous year.

As mentioned, Acushnet was the leading light of the group with revenue growth of 7.8% year-on-year, reaching KRW3.35 trillion, “supported by sustained demand in the US golf market”. 

However, the Fila division also posted a 2.2% revenue increase, to KRW917.3 billion, “benefiting from a diversified business model, including joint ventures and licensing agreements”.

As mentioned, the company announced the new enhanced shareholder return policy and has set a target of up to KRW500 billion for shareholder returns over the next three years (2025–2027), bringing the total cumulative shareholder return to up to KRW800 billion from 2022 to 2027. This marks a KRW200 billion increase from the previously stated target, “reinforcing the company’s proactive approach to capital allocation and shareholder engagement”.

Since launching its policy in 2022, the company has delivered three consecutive years of special dividends and other return initiatives. 

CFO Ho Yeon (Aaron) Lee said: “With our enhanced shareholder return policy, we are reinforcing our long-term commitment to maximising shareholder value. Strong cash flows from our core businesses, including Acushnet and our strategic joint ventures, allow us to execute disciplined capital allocation strategies that drive sustainable growth and profitability.”