Recently, the Finnish sportswear group Amer Sports (Amer Sports), which owns well-known sports and outdoor brands such as Arc'Teryx, Salomon and Wilson, announced the core financials of the first quarter of 2018 data.
Due to the negative impact of the exchange rate and the decline in outdoor business, the group's sales fell 6.1% year-on-year to 623.8 million euros; profit before interest and tax increased from 28.8 million euros to 40.4 million euros, after deducting non-recurring items, profit before interest and tax from 3550 Ten thousand euros increased by 13.8% to 40.4 million euros; due to the improvement of the channel mix and the increase in full-price sales share, the gross profit margin increased from 44.7% to 46.8%, and net income increased by 40.5% from 17.5 million euros to 24.6 million euros.
As the main business of the Amer Sports Group, the outdoor sector performed poorly, with sales falling 3% year-on-year to 381.2 million euros, a year-on-year increase of 2% at a fixed exchange rate; profit before interest and taxes increased 26% to 33.7 million euros.
In specific categories, footwear sales on a fixed exchange rate basis decreased by 5% to 141 million euros, a 8.9% decrease from the report; mainly due to the impact of Salomon's global distribution channel integration and the reduction of promotions; promoted by Arc'teryx Under, clothing sales increased by 3% to 119.3 million euros, and reported revenue fell by 4.3%; winter sports equipment revenue (Atomic, Armada Skis) rose by 16% on a fixed exchange rate basis to 59.5 million euros, reported sales Increased by 12.1%; negatively affected by lower OEM orders, cycling sports (Mavic, ENVE Composites) fell 15.1% to 32.1 million euros, and fell 12% on a fixed exchange rate basis; in the sports equipment sector (Suunto, Sports Tracker) On the basis of a fixed exchange rate, sales increased by 26% to 29.2 million euros, and revenue increased by 20.2%.
In addition, Amer Sports announced the acquisition of Nordic sports fashion brand Peak Performance for 1.9 billion DKK (approximately 255 million euros). The seller is Danish fashion group IC Group. The transaction method of this acquisition is cash and bank loans, and the estimated completion time is June 30.
It is reported that Peak Performance was founded in 1986 and is headquartered in Stockholm. Starting from ski wear, it is now a high-end sports fashion brand covering all categories.
Amer Sports aims to further strengthen the group's casual and streetwear category portfolio through this acquisition. After the acquisition is completed, Peak Performance's 300 employees will join the Amer Group. It is speculated that the synergy effect of the acquisition is expected to generate 10 million euros in revenue in the next few years.
Aik President and CEO Heikki Takala stated that Peak Performance “is of great significance to our current brand portfolio, and it is closely linked to sports fashion. Women ’s categories and direct sales channels contribute most of the brand ’s sales.†It is reported that Peak Performance is more than 40% Of sales come from women's clothing, and the direct sales channel contributes 45% of the brand's sales.
IC Group's board of directors said that in the past six months, the group conducted a strategic evaluation of Peak Performance and finally made a decision to sell. The group is very satisfied with the transaction price of this transaction and believes that it has found a suitable buyer. During the transition period of 6-12 months after the completion of the transaction, IC Group will continue to provide support and services for Peak Performance on the basis of "covering costs".
Reprinted from: Lazy Bear Sports
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