Amer Sports Q3 net sales rise 5 percent

Third quarter net sales, Amer Sports said, were 1,804.0 million euros, 5 percent rise in local currencies, while organic growth was 3 percent. Gross margin was 46.1 percent compared to 45.4 percent. EBIT excluding IAC for the quarter was 134.5 million euros against 116.3 million euros. Earnings per share excluding IAC were 0.70 euros against 0.61 euro compared to earnings per share were 0.64 euros compared to 0.36 euros.

Commenting on the company’s performance, Heikki Takala, President and CEO of Amer Sports said in a statement: “We delivered a solid quarter in line with our expectations, and we made broad-based progress across the portfolio Also progress in China is strong and we continue to ramp up our investment for on-going acceleration. Encouragingly, the US is now returning to a mid-single digit growth. Our long term strategies are proven, and we can expect continuous profitable growth and strong value creation, boosted by the business transformation towards areas of faster growth, higher profitability, and better asset efficiency.

For the nine months from January to September 2018, the company reported, net sales of 757.2 million euros an increase of 9 percent in local currencies, while organic growth was 3 percent. EBIT excluding items affecting comparability was 116.9 million euros compared to 103.8 million euros last year. Earnings per share excluding IAC were 0.70 euro compared to 0.62 euro and earnings per share were 0.66 euros compared to 0.40 euro.

In 2018, Amer Sports expects net sales in local currencies as well as EBIT excl. IAC to increase from 2017 and due to ongoing wholesale market uncertainties, the quarterly growth and improvement are expected to be uneven.

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