"Mango overcomes “complex market” and reaches £72m profit in 2022", 9 March 2023

Global fashion retailer Mango saw profit of £72 million (€81 million) in the 2022 financial year, achieving record sales at the business.

Mango’s net profit was up by 20.9% in 2022 compared to 2021. Turnover reached £2.39 billion (€2.69 billion), the highest in the company’s history and 20.3% more than in the previous year...

Gross operating profit (EBITDA) stood at £387.5 million (€436.62 million), £12.4 million (€14 million) higher than the figure posted in 2021. This result was influenced by challenging economic and geopolitical conditions, such as the war in Ukraine and the suspension of Mango operations in Russia. Gross profit at the end of the financial year was 56.9%, compared to 58.2% in 2021.

Toni Ruiz, Mango’s Chief Executive Officer, commented: "We have closed what is probably one of Mango’s best years, overcoming complex market circumstances and committing to strong investments with a future vision and ambition...We have demonstrated the validity and robustness of our business model based on a unique ecosystem of channels and partners. In the last few years, we have recovered our essence, with unique design as a starting point and innovation as a core value in all the departments of the company"...