Vulcabras realized 50 percent year-over-year growth in e-commerce in Q4 to 142.1 million Brazilian reais (€22.4m) and a 55 percent increase for the segment in FY24 to R$433.7 million (€68.1m).
The Brazilian group says the distribution channel benefitted from a greater variety of products and an enhanced consumer experience.
In Q4, Ebitda rose by 8.2 percent to R$192.2 million (€30.2m) as net income expanded 17 percent to R$169.2 million (€26.6m) from R$144.7 million. Total revenues increased by 14.5 percent to R$905.7 million (€142.3m), with domestic sales up by 14 percent to R$877.0 million (€137.8m) and international market sales up by 23 percent to R$28.7 million (€4.5m). Pairage jumped by 5 percent to 9.1 million pairs. Gross margin fell by 110 basis points to 41.6 percent. Athletic footwear sales stepped up by 16 percent to R$777.7 million (€122.2m) and Other footwear sales rose by nearly 19 percent to R$62.7 million (€9.8m). Apparel/accessories sales declined by 3.8 percent to R$65.3 million (€10.3m).
For the full year, Ebitda improved 7 percent to R$686.8 million (€107.9m) from R$641.3 million on revenue growth of 8 percent to R$3,048.6 million (€478.9m) from R$2,817.7 million. Net income grew by 15 percent to R$569.9 million (€89.5m) from R$494.9 million. Gross margin inched up by 20 basis points to 41.9 percent.
Annual sales in Brazil expanded by 9.9 percent year-over-year to R$2,912.5 million (€457.5m) but tumbled by 18 percent in all other markets to R$136.1 million (€21.4m). This was due largely to lower consumer purchases in Argentina. Annual pairage and other items rose by 2.9 percent to 32.4 million units. Annual athletic footwear sales improved by 9 percent year-over-year to R$2,590.7 million (€407.0m) and increased by 7 percent for Other footwear to R$208.5 million (€32.8m). Apparel/accessories revenues were essentially flat for the FY at R$294.4 million (€39.2m).
