Amer Sports, which owns the Salomon, Wilson, Arc'teryx and Suunto brands, reported net sales reached €461.1 million ($510 mm) in the second quarter ended June 30, up 9 percent in currency-neutral (c-n) terms and 7 percent, excluding sales from Louisville Slugger, which it acquired early in the quarter.
“We continued to deliver broad-based organic growth in the second quarter, driven by our strategic growth areas,” said Heikka Takala, president and CEO of the Finnish company. “We also continued to drive profit improvement especially in Ball Sports where our mix kept shifting toward higher margin items such as performance tennis rackets showing strong topline momentum. The 2014 restructuring has contributed positively to Ball Sports which is significantly healthier today than before.”
Gross margin increased to 44.1 percent from 43.9 percent in the second quarter of 2014. EBIT, excluding non-recurring items (NRI) was €-9.0 million ($10 mm), compared with €-17.6 million in the year earlier quarter. Non-recurring items were €-6.6 million ($7 mm), compared with €-1.2 million. Amer Sports said all NRIs related to 2014 restructuring are now recorded.
Net Sales by Business Segment