On November 19, 2024 Eastern Time, outdoor sports equipment company Amalfin Sports released its financial results for the third quarter of 2024. According to the financial report, in the third quarter of 2024, Amazon Sports' revenue reached $1.354 billion, a year-on-year increase of 17% both in reporting and fixed exchange rate benchmarks; Net profit increased by 257% year-on-year, reaching 56 million US dollars.
In terms of business segments, in the third quarter of 2024, the revenue of the outdoor functional clothing segment of Yamafon Sports increased by 34% year-on-year, reaching 520 million US dollars, and increased by 33% year-on-year on a fixed exchange rate basis; The revenue from outdoor clothing and equipment in mountainous areas increased by 8% year-on-year, reaching 534 million US dollars, and increased by 7% year-on-year on a fixed exchange rate basis; The revenue of ball and racket equipment business achieved double-digit accelerated growth, reaching 300 million US dollars, with a year-on-year increase of 11% on both the reporting and fixed exchange rate basis.
From a regional perspective, in the third quarter of 2024, Amalfin Sports' revenue in Greater China was $313 million, a year-on-year increase of 56%; The revenue in the Asia Pacific region was $125 million, a year-on-year increase of 47%; The revenue in the Americas region is 488 million US dollars; The revenue for the Europe, Middle East, and Africa (EMEA) region was $429 million.
It is reported that Yamafen Sports' brand direct operation channel (DTC) maintained a 41% year-on-year growth in the third quarter of this year. As of September 30, 2024, the number of self owned stores in the outdoor functional clothing sector led by the Archaeopteryx brand was 212, a year-on-year increase of 18%; 196 mountain outdoor clothing and equipment stores, a year-on-year increase of 69%; There are 45 stores for ball and racket equipment business, a year-on-year increase of 400%.
Driven by the Archaeopteryx brand, our unique high-end functional clothing brand portfolio continues to explore new areas and win market share in the global sports and outdoor markets. We are fully committed to seizing the growth opportunities of Archaeopteryx and Salomon footwear products. At the same time, the group's leading ball and racket equipment business has also entered a period of accelerated growth this season, "said Zheng Jie, Global CEO of Amalfin Sports.
Looking ahead, Andrew Page, Chief Financial Officer of Amalfin Sports, expressed confidence in the initial expectations for 2025. He expects to achieve performance consistent with long-term financial goals: maintaining low to mid double-digit growth in annual revenue; Driven by the increase in gross profit margin, the annual adjusted operating profit margin increased by 30 to 70 basis points.