Amer Sports sees FY24 revenue growth at ‘high end’ of 16%-17% range

FY24 consensus $5.13B. Amer Sports (AS) expects full year 2024 revenue growth to be at the high end of the previous guidance range of 16-17% despite rising headwinds related to unfavorable foreign currency exchange rate fluctuations in the fourth quarter. The company also expects full year 2024 adjusted operating margin to be at the high end of the previous guidance range of 10.5-11.0%. In addition, Amer Sports announced that it has repaid all $1.2 billion of its outstanding term loans in the fourth quarter and expects fiscal year 2025 adjusted net finance costs to approximate $120 million, as compared to the previous guidance of $180-190 million. CFO Andrew Page commented “Despite increasing currency headwinds, our portfolio delivered another strong quarter of growth and profitability to close out 2024, with all segments and regions delivering solid top-and bottom-line results. Furthermore, our recent capital raise and strong cash conversion in the fourth quarter has allowed us to pay down more than half of our debt prior to year end and significantly deleverage our balance sheet.” Page concluded by saying “Looking forward, led by the continued global expansion of our flagship Arc’teryx brand as well as Salomon footwear, we are well positioned to deliver sustainable long-term growth and margin expansion.”