Amer Sports 1Q revenue, profit up on outdoor, wintersports
Strong performance from its outdoor and wintersports segment led Amer Sports' first-quarter 2011 growth. Footwear saw strengths in hiking and trail running, while wintersports equipment sold best in North America due to good snow conditions.
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Amer Sports, parent of outdoor and wintersports brands Arc’teryx, Atomic and others reported higher revenue and profit for the first quarter.
The Helsinki, Finland-based diversified sporting goods company said the good performance was led by 29-percent growth in its winter and outdoor segment to EUR 233.5 million (USD $346 million) in the first quarter 2011, compared to last year.
That was followed by 24-percent growth in Amer’s fitness sector to EUR 56.6 million (USD $84 million) and a 9-percent increase in its ball sports sector to EUR 159 million (USD $236 million).
Companywide, Amer reported its first-quarter revenue at EUR 449.1 million (USD $666 million) – up 21 percent from EUR 372.6 million (USD $553 million) during the same period year ago. Net income rose to EUR 17.1 million (USD $25 million) from EUR 300,000 (USD $445,000) a year ago.
By division, including those segments above, Amer’s footwear division led the way – increasing 45 percent to EUR 91.1 million (USD $135 million) with the strongest growth in hiking and trail running. Apparel grew 37 percent to EUR 38.9 million (USD $58 million), even across all sectors. Cycling grew 17 percent to EUR 34.4 million (USD $51 million). Sports instruments grew 16 percent to EUR 19.1 million (USD $28 million).
Winter sports equipment grew 11 percent to EUR 46.9 million (USD $70 million). In regional terms, North America experienced the highest growth rate, fueled by good snow conditions.
Looking ahead, Amer officials said that fall/winter pre-orders in footwear and apparel indicate that the strong momentum will continue. In winter sports, the company expects better results through several operational efficiency measures.
–Compiled by David Clucas
(Conversion of euros into U.S. dollars is for information only, is not necessarily relative to earnings, and is based on the currency rate as of April 28, 2011)
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