Amer Sports Announces Preliminary 2024 Financial Results
Amer Sports (NYSE: AS) has announced preliminary financial results for 2024, projecting revenue growth at the high end of their previous 16-17% guidance range, despite Q4 foreign currency headwinds. The company expects full-year 2024 adjusted operating margin to reach the high end of 10.5-11.0%.
In a significant financial move, Amer Sports has repaid all $1.2 billion of its outstanding term loans in Q4 and expects fiscal year 2025 adjusted net finance costs to be approximately $120 million, down from previous guidance of $180-190 million. The company reports strong performance across all segments and regions, with solid top-and bottom-line results.
The company's growth strategy focuses on global expansion of its flagship Arc'teryx brand and Salomon footwear. Amer Sports operates in over 40 countries, with products sold in more than 100 countries, and generated revenue of $4.4 billion in 2023.
Amer Sports (NYSE: AS) ha annunciato i risultati finanziari preliminari per il 2024, prevedendo una crescita dei ricavi all'estremità alta dell'intervallo di previsione precedente del 16-17%, nonostante i venti contrari delle valute estere nel quarto trimestre. L'azienda prevede che il margine operativo rettificato per l'intero anno 2024 raggiungerà l'estremità alta del 10,5-11,0%.
In una mossa finanziaria significativa, Amer Sports ha rimborsato tutti i 1,2 miliardi di dollari dei suoi prestiti a lungo termine in sospeso nel quarto trimestre e si aspetta che i costi finanziari netti rettificati per l'anno fiscale 2025 siano circa 120 milioni di dollari, in calo rispetto alle previsioni precedenti di 180-190 milioni di dollari. L'azienda riporta prestazioni solide in tutti i segmenti e regioni, con risultati forti sia a livello di fatturato che di utile netto.
La strategia di crescita dell'azienda si concentra sull'espansione globale del suo marchio di punta Arc'teryx e delle calzature Salomon. Amer Sports opera in oltre 40 paesi, con prodotti venduti in più di 100 paesi, e ha generato ricavi di 4,4 miliardi di dollari nel 2023.
Amer Sports (NYSE: AS) ha anunciado resultados financieros preliminares para 2024, proyectando un crecimiento de ingresos en el extremo superior de su rango de guía previo del 16-17%, a pesar de los vientos en contra de la moneda extranjera en el cuarto trimestre. La compañía espera que el margen operativo ajustado para el año completo 2024 alcance el extremo superior del 10.5-11.0%.
En un movimiento financiero significativo, Amer Sports ha pagado todos los 1.2 mil millones de dólares de sus préstamos a plazo pendientes en el cuarto trimestre y espera que los costos financieros netos ajustados para el año fiscal 2025 sean aproximadamente 120 millones de dólares, en comparación con la guía anterior de 180-190 millones de dólares. La compañía informa un sólido rendimiento en todos los segmentos y regiones, con resultados robustos tanto en la parte superior como en la inferior.
La estrategia de crecimiento de la empresa se centra en la expansión global de su marca insignia Arc'teryx y el calzado Salomon. Amer Sports opera en más de 40 países, con productos vendidos en más de 100 países, y generó ingresos de 4.4 mil millones de dólares en 2023.
아메르 스포츠 (NYSE: AS)는 2024년의 예비 재무 결과를 발표하며, 4분기 환율 악재에도 불구하고 이전 16-17% 지침 범위의 상위 범위에서 수익 성장을 예상하고 있습니다. 회사는 2024년 전체 연도 조정 운영 마진이 10.5-11.0%의 상위 범위에 도달할 것으로 예상하고 있습니다.
중요한 재무 조치로 아메르 스포츠는 4분기 동안 남아 있는 12억 달러의 모든 만기 대출을 상환하였으며, 2025 회계 연도 조정된 순 금융 비용이 약 1억 2천만 달러가 될 것으로 예상하고 있으며, 이전 지침의 1억 8천만 - 1억 9천만 달러에서 감소했습니다. 회사는 모든 부문과 지역에서 강력한 성과를 보고하고 있으며, 상위 및 하위 모두에서 견고한 결과를 보이고 있습니다.
회사의 성장 전략은 주력 브랜드인 Arc'teryx 및 Salomon 신발의 글로벌 확장에 중점을 두고 있습니다. 아메르 스포츠는 40개 이상의 국가에서 운영하며, 100개 이상의 국가에서 제품을 판매하고 있으며, 2023년에는 44억 달러의 수익을 올렸습니다.
Amer Sports (NYSE: AS) a annoncé des résultats financiers préliminaires pour 2024, projetant une croissance des revenus dans la fourchette haute de sa précédente prévision de 16-17%, malgré des vents contraires liés aux devises étrangères au quatrième trimestre. L'entreprise prévoit que la marge opérationnelle ajustée pour l'ensemble de l'année 2024 atteindra la fourchette haute de 10,5-11,0%.
Dans un mouvement financier significatif, Amer Sports a remboursé tous les 1,2 milliard de dollars de ses prêts à terme en cours au quatrième trimestre et s'attend à ce que les coûts financiers nets ajustés pour l'exercice 2025 soient d'environ 120 millions de dollars, en baisse par rapport à la précédente prévision de 180-190 millions de dollars. L'entreprise rapporte de solides performances dans tous les segments et régions, avec des résultats solides tant en haut qu'en bas de son bilan.
La stratégie de croissance de l'entreprise se concentre sur l'expansion mondiale de sa marque phare Arc'teryx et de la chaussure Salomon. Amer Sports opère dans plus de 40 pays, avec des produits vendus dans plus de 100 pays, et a généré des revenus de 4,4 milliards de dollars en 2023.
Amer Sports (NYSE: AS) hat vorläufige Finanzzahlen für 2024 bekannt gegeben und prognostiziert ein Umsatzwachstum im oberen Bereich ihrer vorherigen Guidance von 16-17%, trotz negativer Auswirkungen durch ausländische Währungen im vierten Quartal. Das Unternehmen erwartet, dass die bereinigte Betriebsgewinnmarge für das Gesamtjahr 2024 den oberen Bereich von 10,5-11,0% erreichen wird.
In einem bedeutenden finanziellen Schritt hat Amer Sports im vierten Quartal alle 1,2 Milliarden Dollar seiner ausstehenden Terminkredite zurückgezahlt und erwartet, dass die bereinigten Nettokapitalkosten für das Geschäftsjahr 2025 bei etwa 120 Millionen Dollar liegen werden, nach vorheriger Guidance von 180-190 Millionen Dollar. Das Unternehmen berichtet von einer starken Leistung in allen Segmenten und Regionen mit soliden Ergebnissen sowohl beim Umsatz als auch beim Gewinn.
Die Wachstumsstrategie des Unternehmens konzentriert sich auf die globale Expansion seiner Hauptmarke Arc'teryx und des Schuhwerks von Salomon. Amer Sports ist in mehr als 40 Ländern tätig, mit Produkten, die in mehr als 100 Ländern verkauft werden, und erzielte im Jahr 2023 einen Umsatz von 4,4 Milliarden Dollar.
- Revenue growth tracking at high end of 16-17% guidance range
- Adjusted operating margin reaching high end of 10.5-11.0% range
- Complete repayment of $1.2 billion term loans in Q4
- Reduced 2025 finance costs guidance from $180-190M to $120M
- Strong performance across all segments and regions
- Increasing currency headwinds affecting Q4 performance
Insights
The preliminary results reveal strong financial performance with revenue growth hitting the upper range of 16-17% guidance, despite FX headwinds. Most notably, the $1.2 billion term loan repayment significantly improves the balance sheet health, reducing 2025 projected finance costs by
The company's 10.5-11.0% adjusted operating margin at the high end demonstrates operational efficiency and pricing power. The strong cash conversion in Q4 enabling substantial debt reduction suggests robust working capital management and healthy cash flow generation. Arc'teryx and Salomon footwear's expansion strategy appears to be driving sustainable growth.
For retail investors: Think of this as a company becoming financially healthier - they're paying off their credit card debt (term loans) early, which means they'll have lower monthly payments (interest costs) going forward. This frees up more money for growth and potentially increases profitability.
The portfolio strategy is delivering impressive results across all segments and regions. The standout performance of Arc'teryx and Salomon footwear indicates successful premium market positioning and global expansion execution. This multi-brand approach provides diversification while maintaining premium positioning across sports and outdoor categories.
With operations in 40+ countries and distribution in 100+ countries, the geographic diversification helps mitigate regional risks. The
Amer Sports expects full year 2024 revenue growth to be at the high end of the previous guidance range of 16–
CFO Andrew Page commented "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. 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 saying "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.”
ABOUT AMER SPORTS
Amer Sports is a global portfolio of iconic sports and outdoor brands, including Arc’teryx, Salomon, Wilson, Peak Performance, Atomic, and Armada. Our brands are known for their detailed craftsmanship, unwavering authenticity, and premium market positioning. As creators of exceptional apparel, footwear, and equipment, we pride ourselves on cutting-edge innovation, performance, and designs that allow elite athletes and everyday consumers to perform their best.
With over 12,700 employees globally, Amer Sports’ purpose is to elevate the world through sport. Our vision is to be the global leader in premium sports and outdoor brands. With corporate offices in
NON-IFRS MEASURES
Adjusted gross profit margin, adjusted SG&A expenses, adjusted operating profit margin, adjusted EBITDA, adjusted net income/(loss) attributable to equity holders, and adjusted diluted income/(loss) per share are financial measures that are not defined under IFRS Accounting Standards. Adjusted gross profit margin is calculated as adjusted gross profit divided by revenue. Adjusted gross profit is calculated as gross profit excluding amortization related to certain purchase price adjustments (PPA) in connection with the acquisition and delisting of Amer Sports in 2019 and restructuring expenses. Adjusted SG&A also excludes PPA amortization, as well as adjustments to exclude restructuring expenses, expenses related to transaction activities, expenses related to certain legal proceedings, and certain share-based payments. Adjusted operating profit margin is calculated as adjusted operating profit divided by revenue. Adjusted operating profit is calculated as income/(loss) before tax with adjustments to exclude PPA amortization, restructuring expenses, impairment losses on goodwill and intangible assets, expenses related to transaction activities, expenses related to certain legal proceedings, certain share-based payments, finance costs, loss on debt extinguishment, and finance income. EBITDA is calculated as net income/(loss) attributable to equity holders of the Company, plus net income attributable to non-controlling interests, income tax expense, finance cost, loss on debt extinguishment, depreciation and amortization and minus finance income, from both continuing and discontinued operations. Adjusted EBITDA is calculated as EBITDA with adjustments to exclude results from discontinued operations, restructuring expenses, impairment losses on goodwill and intangible assets, expenses related to transaction activities, expenses related to certain legal proceedings and certain share-based payments. Adjusted net income/(loss) attributable to equity holders is calculated as net income/(loss) attributable to equity holders with adjustments to exclude PPA amortization, loss from discontinued operations, restructuring expenses, impairment losses on goodwill and intangible assets, expenses related to transaction activities, expenses related to certain legal proceedings, certain share-based payments, loss on debt extinguishment and related income tax expense. “Omni-comp” is defined as year-over-year revenue growth from owned retail stores and e-commerce sites that have been open at least 13 months.
The Company believes that these non IFRS measures, when taken together with its financial results presented in accordance with IFRS Accounting Standards, provide meaningful supplemental information regarding its operating performance and facilitate internal comparisons of its historical operating performance on a more consistent basis by excluding certain items that may not be indicative of our business, results of operations or outlook. In particular, adjusted EBITDA and adjusted net income/(loss) are helpful to investors as they are measures used by management in assessing the health of the business and evaluating operating performance, as well as for internal planning and forecasting purposes. Non-IFRS financial measures however are subject to inherent limitations, may not be comparable to similarly titled measures used by other companies and should not be considered in isolation or as an alternative to IFRS measures. The supplemental tables below provide reconciliations of each non-IFRS financial measure presented to its most directly comparable IFRS Accounting Standards financial measure.
FORWARD LOOKING STATEMENTS
This press release includes estimates, projections, statements relating to the business plans, objectives, and expected operating results of the Company that are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. In many cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “target,” “outlook,” “believes,” “intends,” “estimates,” “predicts,” “potential” or the negative of these terms or other comparable terminology. These forward looking statements include, without limitation, guidance and outlook statements, our long-term targets and algorithm, statements regarding our ability to meet environmental, social and governance goals, expectations regarding industry trends and the size and growth rates of addressable markets, and statements regarding our business plan and our growth strategies. These statements are based on management’s current expectations but they involve a number of risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in the forward-looking statements as a result of factors relating to, without limitation: the strength of our brands; changes in market trends and consumer preferences; intense competition that our products, services and experiences face; harm to our reputation that could adversely impact our ability to attract and retain consumers and wholesale partners, employees, brand ambassadors, partners, and other stakeholders; reliance on technical innovation and high-quality products; general economic and business conditions worldwide, including due to inflationary pressures; the strength of our relationships with and the financial condition of our third-party suppliers, manufacturers, wholesale partners and consumers; ability to expand our DTC channel, including our expansion and success of our owned retail stores and e-commerce platform; our plans to innovate, expand our product offerings and successfully implement our growth strategies that may not be successful, and implementation of these plans that may divert our operational, managerial and administrative resources; our international operations, including any related to political uncertainty and geopolitical tensions; our and our wholesale partners’ ability to accurately forecast demand for our products and our ability to manage manufacturing decisions; our third party suppliers, manufacturers and other partners, including their financial stability and our ability to find suitable partners to implement our growth strategy; the cost of raw materials and our reliance on third-party manufacturers; our distribution system and ability to deliver our brands’ products to our wholesale partners and consumers; climate change and sustainability or ESG-related matters, or legal, regulatory or market responses thereto; changes to trade policies, tariffs, import/export regulations, anti-competition regulations and other regulations in
Source: Amer Sports, Inc.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250113224547/en/
Investor Relations:
Omar Saad
Senior Vice President Group Investor Relations and Capital Markets
omar.saad@amersports.com
Media:
Reeta Eskola
Director, Communications
reeta.eskola@amersports.com
Source: Amer Sports, Inc.
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