Amer Sports maintains pace in Q3
Amer Sports’ development strategy for the apparel and footwear lines of its various brands (Arc'teryx, Salomon, Atomic ...) is continuing to bear fruit.
With a turnover of 645.8 million euros for Q3 ending in late September, the Finnish group grew by 6% compared to the same period last year. In large part, its performance may be attributed to the strength of these product categories.
Net sales of footwear reached 117.9 million, up 19% in local currencies. Apparel amounted to 117 million euros, up 14%, thanks to the progress by Arc'teryx.
The group also saw its earnings before interest and tax (excluding exceptional costs) go from 82.5 to 87.6 million euros. Its net profit, however, fell back from 54.8 to 43.3 million euros.
In detail, the group saw sales of its Winter and Outdoor sports segment progress from 420.6 to 452.2 million euros, with a 10% increase of its sales in Europe, 2% in the Americas and 9% in Asia Pacific. But its profit before interest and taxes (Ebit), excluding non-recurring items, went from 87.4 to 83.1 million euros.
Its ball sports division, conversely recorded a 3% decline in sales to 112.9 million. But its EBIT excluding non-recurring items was positive at 3.9 million as opposed to a loss of 2.1 million last year. Its fitness division rose by 13% to to 80.7 million with an EBIT going from 6.2 to 7.3 million euros.
By region, Europe, the Middle East and Africa rose by 6% to 321.9 million in local currencies, the Americas increased by the same percentage to 249 million and Asia Pacific posted 8% growth at 74.9 million euros. For the entirety of its fiscal year, Amer Sports has confirmed its forecast of 5% growth in turnover, and an improvement of its EBIT excluding non-recurring items.
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