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Operational challenges hit Havaianas owner Alpargatas full-year results

Sophie Smith
13 February 2023

Alpargatas, the owner of Havaianas, has emphasised the impact of cost and operational challenges on its financial results for 2022. 

The company's full-year net revenue increased 5.9% to £665.8 million (R$4.18 billion), compared to £620.9 million (R$3.9 billion) in 2021. However, Alpargatas labelled its operational performance in 2022 as "disappointing" as cost and operational challenges put pressure on the group's financial results, which "fell short of expectations".

In Europe, the company ended 2022 with double-digit volume growth, despite "logistical bottlenecks pressuring volume deliveries" in the second quarter. Looking ahead, Alpargatas is seeking to accelerate volume and revenue growth in EMEA by expanding its direct-to-consumer channels, monobrand stores and e-commerce.

For the full-year, Havaianas shared the following results:

  • Net revenue up 5.4% to £655.9 billion (R$4.12 billion).
  • Havaianas Brazil net revenue up 9.2% to £461.9 million (R$2.9 billion).
  • Havaianas International net revenue down 3% to £191.1 million (R$1.2 billion)
  • EMEA net revenue down 2.8% to £113.6 million (R$713.6 million).
  • Gross profit down 0.7% to £302.5 million (R$1.9 billion).
  • Gross margin down to 46.8%.

During the year, 33 million pairs of Havaianas were sold in international markets, up 5% against 2021.

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