Goodbaby International Announces 2024 Annual Results

Goodbaby International Announces 2024 Annual Results

Benzinga
March 26, 2025

Revenue Grew by Double-digit to Reach HK$8,765.9 millionVery Positive Business Momentum Throughout the Year

Strategic Brand CYBEX Significantly Gaining Market Shares GloballyBrand-driven Strategy to Maintain Global Competitiveness Amid Evolving Macro Dynamics

Highlights:

The Group demonstrated strong performance with 10.6% revenue growth and accelerated business momentum into the second half of the year (+7.7% in 2024H1, +13.4% in 2024H2);

The Group's gross margin improved to a record 51.4%, demonstrating its efforts in enhancing brand premium, product competitiveness and operational efficiency;

The Group's operating profit increased by 35.7% to approximately HK$500.0 million, with operating profit margin at 5.7%;

The Group consistently delivered on its commitment to improving profitability and cash flow management, and was able to reduce net debt;

The Group significantly paid down debts and restructured loan facilities, optimized the Group's debt structure and greatly improved financing cost;

The Group continued to bolster risk resilience facing changing market dynamics and uncertainties, while dedicated to the one-dragon vertically integrated platform as well as strategic investments in brand building innovation, global omni-channel infrastructure, and digital.

HONG KONG, March 26, 2025 /PRNewswire/ -- Goodbaby International Holdings Limited ("Goodbaby International" or the "Company", HKEX stock code: 1086, together with its subsidiaries, the "Group"), a leading global parenting products company, has announced its annual results for the year ended 31 December 2024 (the "Year").

During the Year, the Group achieved double-digit revenue growth of 10.6%, reporting revenue of approximately HK$8,765.9 million (2023: approximately HK$7,927.3 million). Gross margin improved to a record 51.4%, and reported gross profit increased by 13.6% to approximately HK$4,507.9 million (2023: approximately HK$3,967.7 million). In addition, operating profit increased by 35.7% to approximately HK$500.0 million (2023: HK$368.4 million) with operating profit margin reaching 5.7%.

Milestone achievements by CYBEX: Recorded all-time high revenue and profitability

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