Amer Sports Sees Again Big Sales Drop for Mavic and ENVE
HELSINKI, Finland – Amer Sports did not had a good first half 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 dropped slightly in the first half of 2018.
Amer Sports’ January to June 2018 net sales stood at € 1,106.8m; down 5% on the € 1,160.0m. In local currencies net sales increased by 2%. Amer’s Outdoor division, including Mavic and ENVE, saw net sales drop 2% to € 625.3m.
Lower OEM orders
For the first six months of 2018 Mavic and ENVE posted total sales of 60.0 million euro. This accounts for a big 13% drop on the 2017 net sales results of € 69.3m. The reason behind this big sales decline is according to Amer Sport due to a continued drop of OEM orders and low demand in the wholesale channel. Amer Sport and its cycling subsidiaries Mavic and ENVE clearly suffer from the fact that fewer sports bikes are being produced and sold.