Amer Sports posts solid growth for the first quarter

Amer Sports, the Finnish holding behind brands like Atomic, Salomon, Wilson, Suunto, Mavic and Precor lifted its sales in the first quarter of fiscal year 2014 (March 31) to €501.5 million up from €493.0 million in the previous year’s period. In local currencies, sales growth rate was 6 percent. The gross margin improved only slightly to 44.3 percent, while earnings before interests and taxes dropped substantially to €20.6 million down from €26.4 million in the first three months of 2013. Net profit dropped to €8.2 million from €14.8 million.

Winter sports managed to grow in spite of mild weather conditions in a couple of key markets which had notably their impact on the cross-country category. The racquet business declined, as expected, after Wilson had decided to clean up some non-profitable parts of its portfolio. Ebit was impacted partly due to a challenging environment in Russia due to lower consumer demand and the devaluation of the ruble. Total net sales figures in local currencies are in line with Amer’s long-term plan to improve by 5 percent annually.

 

 

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