Amer Sports reports net sales reached €705.3 million in the fourth quarter ended Dec. 31, up 7 percent from €657.4 million a year earlier. In local currencies, net sales increased by 6 percent with despite a 9 percent decline in Winter Sports Equipment sales the Finnish company attributed to the late arrival of cold weather in many of its markets.
The Finnish company, which owns the Salomon, Wilson, Atomic, Arc'teryx, Mavic, Suunto and Precor brands, said gross margin increased 100 basis points to 43.0 percent. Earnings before income taxes (EBIT) – excluding non-recurring items (NRI) – increased 20 percent to €77.7 million, or 11.0 percent of net sales, up from 9.8 percent in the fourth quarter of 2013. Earnings per share excluding NRI were €0.41, compared to €0.33. Net cash flow after investing activities was €132.8 million, down from €143.9 million.
The company issued guidance for 2015 that calls for net sales in local currencies to increase and EBIT margin excluding non-recurring items to improve from 2014, despite challenging market conditions. The company will continue to focus on apparel and footwear growth, consumer-driven product and marketing innovation, commercial expansion and operational excellence.
