Amer Sports sales up, profits down in first quarter
today Apr 28, 2017
The first quarter results of Amer Sports were affected above all by weak trading in the USA. Overall, the Finnish sport group, owner of Salomon, Wilson and Arc'Teryx, has reported a 4% sales increase in the first three months of 2017, reaching just under €662 million.
But the group's American business was negatively impacted by weak wholesale trading in the USA. Amer Sports' ball sports segment, which relies notably on the baseball range, lost for example 1%, down to less than €185 million. Outdoor goods sales were instead up 6%, reaching €396 million, driven by a 20% rise in winter sport equipment and a 19% one in apparel, while sales for the fitness category improved by 8%, reaching €80 million.
Geographically, Asia-Pacific was the strongest region, posting a 7% rise to €96 million, while sales rose 4% in Europe, to €290 million, and 3% in the Americas, up to €276 million.
Amer Sports was also penalised by another US factor, the dollar exchange rate trend, which affected the group's gross margin negatively. As a result, Amer Sports' EBIT fell by 21%, down to €31.5 million in the period, and profits took a hit too.
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