After two years of dips, Amer Sports Spain seems to have inverted the curve in 2022, falling just shy of the €60 million or so in revenues it was generating before the lockdowns came into force. According to the VAT-free figures that CMDsport has gathered from Spain’s commercial register, the Iberian subsidiary of Finland’s Amer Sports generated €59.77 million in revenues for FY 2022, up 18.6 percent from FY 2021’s €50.38 million. (FY 2020 saw revenues of €53.31m, FY 2019 of €60.40m.)
Despite the dips, Amer Sports Spain has managed to avoid posting losses. FY 2022’s net profits of €1.38 million were the highest since at least 2018 and represent a year-on-year gain of 144 percent. Net profits for 2020 amounted to €1.19 million.
For the current year, as we reported in August, the Amer Sports parent company, headquartered in Helsinki, has reported its best first half since 2019. This was the year Amer was acquired by a consortium. It is now majority-owned by AS Holding, itself majority-owned by Anta Sports of China. Other Amer investors include Tencent Holdings and Lululemon’s founder, Chip Wilson.
Since then, as we have also reported, Amer has filed with the SEC to make an initial public offering in the US. The consortium acquired Amer, then a listed company, for €5.6 billion. Amer has since divested the brands Suunto and Precor. The IPO would offer €1 to €3 billion of Amer’s equity.
