Amer Sports 2006 net sales increased 31% thanks to the acquisition of Salomon. Pro-forma net sales grew 3.5% to 1,792.7 million ($2.252 bn) as compared to 2005 pro-forma sales of 1,732.0 million (2.157 bn). Earnings before interest and taxes (EBIT) were 120.2 million ($151.0 mm) as compared to 117.1 million ($145.8 mm) last year and earnings per share were 0.98 ($1.23) versus 0.87 ($1.08) last year.
The warm early winter cut into the volume of re-orders in the winter sports business. Amer Sports Q4 EBIT came in at 69.7 million compared to 67.8 last year.
Amer Sports net sales growth in local currencies is expected to remain at last year's level in 2007 due to uncertainty caused by uncommon weather during the 2006/07 winter season. Amer Sports earnings are expected to improve in 2007 thanks to factors such as Salomon's turnaround initiative in 2006 and the industrial co-operation between Atomic and Salomon. It is estimated that Amer Sports' EBIT will amount to 130-145 million in 2007, with earnings per share coming in at 1.10-1.25. Cash flow from operating activities is expected to improve substantially. The dividend proposal is 0.50 per share (0.50).
