Amer Sports' sales up 5% in the first quarter
Amer Sports has gotten off to a good start in 2015. In the first three months of its financial year, the Finnish group, which owns Arc'teryx, Salomon and Wilson, saw its net sales grow by 5% year-on-year in local currencies, reaching 575.9 million euros.
The company recorded a surge in apparel sales (+22%). Its winter sports equipment increased by 17%, footwear by 13% and electronic instruments by 10%. Its cycling division remained stable. Finally, its outdoor business rose by 14% in local currencies (19% after) to 341.9 million and its Ball Sports and Fitness divisions were down by 5% (up 9 and 10% after taking into account changes in currency) at 164.1 and 69.9 million euros respectively.
The Europe, Middle East and Africa region, which accounts for 270.6 million euros, saw its sales increase by 8% (9% after currency fluctuations). Abroad, growth was more modest: 2% in the Americas and 6% in Asia-Pacific. But currency fluctuations allowed the group to record healthy growth after applying exchange rates. Its sales in America jumped by 22% to 230.2 million euros and sales in Asia-Pacific rose by 19% to 75.1 million.
At the end of the quarter, the company recorded 33.6 million euros in earnings before interest and taxes, excluding non-recurring items, growth of 63% compared to last year. Its net profits were 17.2 million euros, as compared to 8.2 million last year.
€1 = $1.08/£0.72
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