Amer Sports Sees Stable Cycling Business
HELSINKI, Finland – Sports equipment maker Amer Sports Corp., whose brand line-up in the category cycling includes Mavic, saw its third-quarter net result fall slightly to € 54.8 million.
According to the Helsinki-based company this was the result of a ‘challenging’ climate that included big swings in some markets’ currencies. The net profit declined from € 56 million a year earlier as exchange rates fell in some countries. Overall revenue was € 608.9 million, up from € 601.9 mn.
Stable sales for Mavic
Amer’s cycling sector, the second smallest in net sales, saw its third quarter sales rise by 8% from € 31.3 mn in 2012 to € 33.1 mn in local currencies this year. From January to September, Mavic’s net sales in the cycling category was stable with € 97.2 mn last year and € 97.4 mn this year.
Meeting growth target
Amer expects growth target of 5% this year to meet its long-term annual sales in local currencies and that its earnings margin would improve from 2012. CEO Heikki Takala said he was, “overall pleased with the progress. We stay on course and continue executing with confidence,” he said.