AFP Courts – whose parent, AFP Group, holds the padel license for Adidas – saw a year-on-year decline in revenues for 2023 of 19.3 percent, according to CMDsport. The figure was down 3.8 percent from 2021, as well.
FY23 has in fact brought to a close a four-year streak of significant revenue growth, with FY19 at €3.6 million, FY20 at €5.2 million, FY21 at €14.4 million, FY22 at a company record of €17.1 million and FY23 at €13.8 million.
AFP Courts nevertheless managed to generate a profit last year, of €840,260. All of these figures have been taken from the Spanish Commercial Register by CMD and exclude VAT.
