Amer Sports(US:AS)2025-08-19 00:04Revenue Growth - Revenue for Q2 2025 increased 23% to $1,236 million, with a constant currency growth of 22%[5] - Revenue for Q2 2025 reached $1,236.3 million, a 23% increase from $1,001.4 million in Q2 2024[24] - Total revenues for the three months ended June 30, 2025, increased by 23% to $1,236.3 million compared to $1,001.4 million in 2024[34] - Direct-to-Consumer (DTC) revenues grew by 40% to $640.9 million for the three months ended June 30, 2025, up from $456.6 million in 2024[34] - Outdoor Performance segment saw a 35% revenue growth to $414 million, driven by Salomon footwear acceleration[5] - Technical Apparel segment projected revenue growth of 22-25% with an operating margin of approximately 21%[11] - Ball & Racquet segment anticipated revenue growth of 7-9% with an operating margin of 3-4%[11] - Technical Apparel segment revenues rose by 23% to $508.9 million for the three months ended June 30, 2025, compared to $412.1 million in 2024[36] - Outdoor Performance segment revenues increased by 35% to $413.7 million for the three months ended June 30, 2025, up from $305.8 million in 2024[36] Profitability - Operating profit surged 614% to $44 million, with adjusted operating profit rising 130% to $67 million[9] - Net income increased from $(4) million to $18 million, translating to $0.03 diluted earnings per share; adjusted net income rose 46% to $36 million, or $0.06 adjusted diluted earnings per share[9] - Operating profit for the first half of 2025 was $257.9 million, significantly higher than $100.5 million in the same period of 2024[24] - Adjusted operating profit for Q2 2025 was $67.4 million, compared to $29.3 million in Q2 2024, indicating a substantial increase[55] - Adjusted EBITDA for the first half of 2025 was $437.1 million, compared to $262.9 million in the same period of 2024, reflecting a growth of approximately 66.3%[57] - The adjusted EBITDA margin for Q2 2025 was 11.1%, an increase from 8.1% in Q2 2024[57] - Net income attributable to equity holders for Q2 2025 was $18.2 million, a significant improvement from a net loss of $3.7 million in Q2 2024[52] - Adjusted net income attributable to equity holders for the first half of 2025 reached $184.0 million, compared to $74.9 million in the same period of 2024[52] Financial Position - Year-over-year inventories increased 29% to $1,597 million, with net debt at $640 million and cash and cash equivalents totaling $303 million[7] - Total assets as of June 30, 2025, amounted to $9,018.9 million, compared to $8,336.3 million at the end of 2024, showing growth in the company's asset base[29] - The company's total equity increased to $5,523.8 million as of June 30, 2025, up from $5,008.4 million at the end of 2024[29] - Inventories rose to $1,597.0 million as of June 30, 2025, compared to $1,223.3 million at the end of 2024, indicating increased stock levels[28] Expenses and Costs - Selling, general and administrative expenses for the three months ended June 30, 2025, were $697.8 million, compared to $567.8 million in 2024[46] - Net finance costs decreased to $21.9 million for the three months ended June 30, 2025, from $45.2 million in 2024[48] - Interest expense for Q2 2025 was $30.0 million, down from $42.6 million in Q2 2024, showing a reduction of approximately 29.0%[57] - Restructuring expenses for Q2 2025 were $6.0 million, a decrease from $8.8 million in Q2 2024[55] Future Outlook - Full-year 2025 revenue guidance raised, expecting growth of 20-21% with a gross margin of approximately 57.5%[11] - Investor Day scheduled for September 18, 2025, in Vancouver, BC, to discuss future strategies and performance[13] - The company plans to continue expanding its direct-to-consumer (DTC) channel and innovate its product offerings to drive future growth[24] Regional Performance - The Americas region generated $395.4 million in revenue for Q2 2025, a 6% increase year-over-year, while Greater China saw a 42% increase to $410.2 million[31]