Amer Sports, the parent of Arc’teryx, Salomon, Atomic, and Wilson, aims to sell 100 million shares for a listing on the New York Stock Exchange next week at an opening price of $16 to $18 per unit. The group, which will trade under the “AS” ticker, will float approximately 26 percent of its nearly 385 million ordinary shares during the offering and could raise as much as $1.8 billion if the high end of the price range is achieved.
Current investors in Amer Sports, Anta Sports, Anamered Investments and Tencent Holdings have agreed to purchase an aggregate of $510 million in shares at the initial price, with Anta and Anamered each buying $220 million worth and Tencent up to $70 million in shares.
Amer Sports: preliminary FY23 results
In an updated public filing yesterday, the group issued preliminary results for FY23 ended Dec. 31. Annual revenues are forecast to grow between 22.7 and 23.0 percent to an estimated range of $4.35-$4.36 billion with associated adjusted Ebitda growth of 31.8 to 34.0 percent to between $597 million and $607.0 million. Amer Sports’ FY23 net loss, meanwhile, is projected to decline between 7.4 percent and 19.3 percent year-over-year to between $204.0 million and $234.0 million.
Through nine months ended Sep. 30, 2023, Amer realized nearly 47 percent growth in its e-commerce business to $445.4 million, a 66 percent increase in retail sales to $556.9 million, and a 20 percent gain in wholesale revenues to $2.05 billion. Over the same time frame, the group recorded 58 percent year-over-year sales growth in technical apparel to $1.04 billion, a nearly 27 percent gain in outdoor performance product sales to $1.14 billion, and a 9.9 percent revenue improvement within its Ball & Racquet Sports segment to $866.3 million.
Read here about one of the major success factors for Amer Sports
