Amer Sports exceeds 2024 expectations and forecasts further growth

Finland-based sporting goods group Amer Sports Inc. exceeded its own expectations in fiscal year 2024 thanks to a strong final quarter. The parent company of brands such as Arc’teryx, Salomon, Wilson, and Peak Performance forecast further growth on Tuesday for the current year.

Last year, the group's revenue reached 5.18 billion dollars, an 18 percent increase compared to 2023. Adjusted for currency fluctuations, revenue grew by 19 percent.

Sales in China increase by nearly 54 percent

The surprisingly significant increase was due in no small part to strong growth from the Arc’teryx brand and above-average performance in Asia. In Greater China, revenue rose by 53.7 percent to 1.30 billion dollars, while in the remaining Asia-Pacific markets, it grew by 45.5 percent to 512.8 million dollars.

In the EMEA region (Europe, the Middle East, and Africa), revenue increased by 3.8 percent to 1.51 billion dollars, while in the Americas, it rose by 6.5 percent to 1.86 billion dollars.

The group returns to profitability

In addition to the strong revenue growth, a higher gross margin led to a 56 percent increase in operating profit to 470.8 million dollars. Adjusted for special items, it grew by 33 percent to 577 million dollars. The bottom line showed a net profit attributable to shareholders of 72.6 million dollars, after the group posted a corresponding loss of 208.6 million dollars in the previous year.

The strong annual results were driven in particular by a successful final quarter, in which group revenue increased by 23 percent (currency-adjusted +24 percent) to 1.64 billion dollars, and operating profit, at 193.6 million dollars, was more than three times higher than in the same period of the previous year.

For 2025, management is forecasting further growth, expecting a revenue increase of 13 to 15 percent. Diluted earnings per share, adjusted for special items, which were 0.47 dollars last year, are expected to increase to between 0.64 and 0.69 dollars.

This article originally appeared on FashionUnited.DE. It was translated to English using AI.

FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@fashionunited.com