Amer Sports Sees Double-Digit Sales Drop for Mavic and ENVE
HELSINKI, Finland – Amer Sports did not had a good start of 2018 as its cycling activities through subsidiaries Mavic and ENVE saw a further deteriorating net sales after a disappointing 2017. Total sales of the Finnish sports group only upped slightly in the first quarter of 2018.
Amer Sports total turnover stood at 623.8 million euro in the first sales quarter of 2018. This accounts for a slight increase of 1 percent only. Amer’s Outdoor division, including Mavic and ENVE, saw net sales climb 2 percent to 381.2 million euro.
Lower OEM orders
For the first quarter of 2018 Mavic and ENVE posted total sales of 32.1 million euro. This accounts for a big 12 percent drop. The reason behind this big sales decline is according to Amer Sport in the fact that both companies had to deal with lower OEM orders compared to the previous year.