Overall revenue growth could not overcome one-off impairments.
Sprinter generated €662 million in revenues in full-year 2024, 13.2 percent more than 2023’s €585 million, according to Diffusion Sport. With respect to income, however, the retailer took a loss of €13.4 million, attributable to its withdrawal from the Netherlands, in December 2023.
This occasioned “one-off impairments of receivables” from companies within its parent, Iberian Sports Retail Group (ISRG), which JD Sports acquired in July 2023. According to Sprinter, this one-off set income back by €48.7 million, and without it net income for FY24 would have exceeded €35 million.
As we have reported, Sprinter’s operator in The Netherlands, Sports Unlimited Retail (SUR), went out of business in 2023. Sprinter’s Dutch operations lasted for about two years.
