Amer Sports, Inc. is reporting preliminary revenue and adjusted operating margin results for fiscal year 2024 and has provided a balance sheet update ahead of this week’s annual ICR conference in Orlando, FL.
The company expects full-year 2024 revenue growth to be at the high end of the previously reported guidance range of 16 percent to 17 percent growth despite “rising headwinds related to unfavorable foreign currency exchange rate fluctuations in the fourth quarter.” The company also expects the full-year 2024 adjusted operating margin to be at the high end of its previous guidance range of 10.5 percent to 11.0 percent of net sales.
In addition, Amer Sports reported that it has repaid all $1.2 billion of its outstanding term loans in the fourth quarter and expects fiscal year 2025 adjusted net finance costs to approximate $120 million compared to its previous guidance of $180 million to $190 million.
“Despite increasing currency headwinds, our portfolio delivered another strong quarter of growth and profitability to close out 2024, with all segments and regions delivering solid top- and bottom-line results,” company CFO Andrew Page offered. “Furthermore, our recent capital raise and strong cash conversion in the fourth quarter has allowed us to pay down more than half of our debt prior to year-end and significantly deleverage our balance sheet.”
Page concluded by adding, “Looking forward, led by the continued global expansion of our flagship Arc’teryx brand as well as Salomon footwear, we are well positioned to deliver sustainable long-term growth and margin expansion.”
Image courtesy Salomon
