Q1 2025 Amer Sports Inc Earnings Call Transcript
Key Points
- Amer Sports Inc (AS) reported a strong start to 2025 with a 23% sales growth, or 26% excluding currency effects, and a significant expansion in adjusted operating margin by nearly 500 basis points.
- The company's flagship brand, Arc'teryx, continues to show robust growth across all regions, channels, and categories, particularly in footwear and women's apparel.
- Salomon sneakers are experiencing accelerating global momentum, with sales surpassing USD 1 billion in 2024, and the brand is gaining traction in both the US and Europe.
- The Ball & Racquet segment saw a 12% growth, driven by strength in sportswear, racquet sports, and golf, with Wilson Tennis 360 continuing to resonate well with consumers.
- Amer Sports Inc (AS) has a strong presence in Greater China, with significant growth in the premium sports and outdoor market, supported by a scalable operating platform and a deep understanding of the local market.
- Despite strong performance, there is macro uncertainty related to US tariffs, which could impact future financial results.
- The Ball & Racquet segment, while showing growth, is expected to grow at a slower pace in the long term, with projections of low to mid-single digits.
- The company is facing challenges in the Nordic or cross-country market, although they have managed to move a significant amount of inventory at reasonable discounts.
- There is a potential impact from tariffs, with a 100-basis-point annualized drag if higher tariffs are reinstated, although mitigation strategies are in place.
- The second half of the year is expected to show slower growth compared to the first half, reflecting a cautious approach due to ongoing macroeconomic uncertainties.
Thank you for standing by, and welcome to the Amer Sports first-quarter fiscal 2025 earnings conference call. (Operator Instructions)
I'd now like to turn the call over to Omar Saad, SVP, Capital Markets and Investor Relations. You may begin.
Welcome, everyone. Thanks for joining Amer Sports Earnings Call for the first quarter of fiscal year 2025. Earlier this morning, we announced our financial results for the quarter ended March 31, 2025, and the release can be found on our IR website, investors.amersports.com.
A quick reminder to everyone that today's call will contain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements reflect our current expectations and beliefs only and are subject to certain risks and uncertainties that could cause actual results to differ materially. Please see the safe harbor statement in our earnings release and SEC filings.
We will also discuss certain
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