Amer Sports penalized by exchange rates
In the first quarter of its 2014 fiscal year ending in late March, Amer Sports publishes sales of 501.5 million euros, up 6% before currency effects. It was a satisfactory result for the Finnish sporting goods company (Salomon, Wilson, Arc'teryx, Suunto...), which pointed to difficult circumstances in Russia and unfavorable conditions in its principal markets.
Amer Sport’s earnings before interest and taxes were heavily impacted by exchange rates, falling by 22% to 20.6 million euros. The group’s net income fell, for its part, by 45% to 8.2 million euros.
As for the details, sales (before currency effects) of Amer Sports’ sports instruments division were up 23% at 25.9 million euros, the apparel segment recorded a sales jump of 21% to 70.9 million especially buoyed by Arc'teryx.
Footwear sales were up 14% at 113.7 million euros, cycling growing by 8% to 39 million euros, while winter sports equipment dropped by 7% to 38 million.
Individual ball sports also suffered a decline in sales of 7% to 85.4 million euros as the team sports segment dropped by 5% to 65.3 million. Finally, fitness experienced sales growth of 4% at 63.3 million euros.
Amer Sports sales were up 6% at 249.1 million euros in Europe, the Middle East, and Africa. In the Americas, they amounted to 189.2 million euros, up 2%, while in the Asia-Pacific, sales climbed by 20% (+35% in China) to 63.2 million.
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