Amer Sports (AS) Reports Prelim 2024 Results

Ahead of participating in the 27th annual ICR conference this week, Amer Sports Inc. (NYSE: AS) (“Amer Sports” or the “Company”) today announced preliminary revenue and adjusted operating margin results for fiscal year 2024, as well as provided a balance sheet update. The Company will report fourth quarter and fiscal year 2024 financial results on February 25, 2025, and will provide detailed results and 2025 guidance at that time.

Amer Sports expects full year 2024 revenue growth to be at the high end of the previous guidance range of 16–17% despite rising headwinds related to unfavorable foreign currency exchange rate fluctuations in the fourth quarter. The Company also expects full year 2024 adjusted operating margin to be at the high end of the previous guidance range of 10.5–11.0%. In addition, Amer Sports announced 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, as compared to the previous guidance of $180-190 million.

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 Helsinki, Munich, Kraków, New York, and Shanghai, we have operations in 40+ countries and our products are sold in 100+ countries. Amer Sports generated $4.4 billion of revenue in 2023. Amer Sports, Inc. shares are listed on the New York Stock Exchange. For more information, visit www.amersports.com.

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