Amer Sports, the parent company of Arc’teryx, Salomon, Wilson, and more, said it expects full year 2024 revenue growth to be at the high end of its previous guidance of 16% to 17% compared to 2023.
It also expects its full year adjusted operating margin to be at the high end of the previous guidance range of 10.5% to 11%, according to a news release.
It has also repaid all $1.2 billion of its outstanding term loans in the fourth quarter, and expects fiscal year 2025 adjusted net finance costs to be approximately $120 million, rather than the previous guidance of $180 million to $190 million.
“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,” said CFO Andrew Page in a statement. “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.”
Amer Sports will report its fourth quarter and full year results on Feb. 25.
In the third quarter, Amer’s revenue grew 17% to $1.354 billion year-over-year. Technical apparel, which includes Arc’teryx and Peak Performance, increased 34% to $520 million. Outdoor performance, which includes Salomon, Atomic, and Armada, increased 8% to $534 million.
“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.”