Net profit of Gloria Jeans for 2022 in 6.14 billion rubles. set a record for the company
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The net profit of one of the largest Russian clothing manufacturers, Gloria Jeans (JSC Gloria Jeans Corporation), amounted to RUB 6.14 billion in 2022. Relative to 2021, the company improved the result by 49.4%, follows from the reporting of Gloria Jeans under RAS.
According to the company’s report cited by Interfax, Gloria Jeans’ revenue for 2022 increased by 11.3% and reached 57.69 billion rubles. The company’s net profit and revenue figures have been record highs since its inception.
The company’s profit from sales increased by 1.7 times, to 9.48 billion rubles. Commercial expenses of Gloria Jeans increased by 1.5% to RUB 22.62 billion, while management expenses, on the contrary, decreased to RUB 816.43 million. (-8.6% compared to 2021).
The cost price for 2022 increased by 7%, to 24.78 billion rubles. Gross profit amounted to 32.912 billion rubles. (+14.8%). The company’s accounts payable increased from 3.55 billion to 7.25 billion rubles, accounts receivable – from 6.36 billion to 38.15 billion rubles.
Over 680 Gloria Jeans retail stores are represented in Russia, Belarus and Kazakhstan. The company also plans to enter the markets of Asia and Israel. Approximately 20% of products are produced in Russia, China and Vietnam, the rest – in Turkey, India and other countries. Gloria Jeans’ EBITDA last year was RUB 12.5 billion. — 17.85% more than in 2021.
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