Just over a month after its debut on the New York Stock Exchange, the sporting goods group Amer Sports Inc. presented its results for the 2023 financial year on Tuesday.
The parent company of brands such as Arc’teryx, Salomon, Wilson and Peak Performance was able to increase its annual sales by 23 percent to 4.37 billion US dollars (4.00 billion euros). Demand developed particularly dynamically in the Greater China region: sales there increased by 61 percent to 841 million US dollars compared to the previous year. The sporting goods provider also achieved double-digit growth in all other market regions.
The global growth driver was the company’s own retail sector, with sales increasing by 49 percent to $1.56 billion. Revenues in the wholesale business rose by twelve percent to $2.81 billion.
The sporting goods company can reduce its loss
Thanks to sales growth, a higher gross margin and lower impairments, operating income, which had been just $50.6 million in the previous year, jumped to $302.5 million. The net loss attributable to shareholders decreased by 17.5 percent to 208.6 million US dollars (190.8 million euros).
For 2024, management now forecasts sales growth of a percentage in the mid-teens. In addition, diluted earnings per share are targeted in the range of $0.30 to $0.40.