Amer Sports today published its annual report for fiscal year 2023 on the Investor Relations website.
“2023 was a special year for Amer Sports Group and our teammates, partners, and shareholders. Not only did we grow net revenues 23% to $4.37 billion in 2023, reflecting a 21% top-line CAGR since our transformation journey began three years ago, we continue to do it profitably, enjoying 120 basis points of adjusted non-IFRS EBITDA margin expansion. 2023 was also the year we prepared for our jump to the ‘big leagues’ and our successful listing on the New York Stock Exchange on February 1, 2024,” says Executive Director & CEO James Zheng.
“We believe Amer Sports is still in the early stages of a profitable growth inflection following our transformation to a decentralized ‘brand-direct’ business model. Led by our high-growth flagship Arc’teryx brand, we operate a unique portfolio of premium sports and outdoor brands, each positioned at the top of their respective markets. Our brands have worldwide reach and recognition but are still relatively small players in the global sports and outdoor markets, and in 2023 our strong and experienced management team led our brands to new heights.”
2023 highlights
- Successful IPO: Generated $1.5 billion in proceeds through a successful listing on the New York Stock Exchange on February 1, 2024.
- Strong gross margin: 240 basis points of gross margin expansion, reflecting a healthy underlying shift in our business mix, but also and more importantly, strong brand health and longevity.
- Powerful brands: Each of our hero brands—Arc’teryx, Salomon, and Wilson—generated more than $1 billion of revenues, and continue healthy growth trends.
- Arc’teryx: Highlights include opening a 20,000-square-foot 4-story Shanghai flagship in January 2024, hosting 25,000+ participants around the world at Arc’teryx Academies, and launching the brand’s first fully in-house designed and developed footwear line for mountain athlete in March 2024.
- Salomon: Highlights include becoming an official Partner for the 2026 Milan Cortina Olympic Games, launched its first road running super shoe the Phantasm 2, and continued incredible success of Salomon super athlete Courtney Dauwalter, the first person ever to win the Western States 100, the HardRock 100, and the UTMB in a single season.
- Wilson: Highlights include the first ever 3D-printed basketball which debuted at the 2023 NBA All Star Game Dunk contest and expanding the brand’s retail footprint with new Wilson stores in Santa Monica, Minneapolis’ Mall of America, Garden State Plaza, the Galleria in Houston, as well as new stores in China and Korea.
- Atomic: Atomic reinforced its global leadership in Alpine skis and achieved a number two position in the global ski boot market. Mikaela Shiffrin had an exceptional year, breaking the 24-year-old record for most World Cup victories of all time, and she now has 93.
- Retail excellence: Total direct-to-consumer (DTC) eclipsed 36% of total revenues, up from 22% in 2020.
- Greater China: This important growth market reached 19% of total revenues, growing at a 61% CAGR since 2020, when it was only 8% of total sales.
- Environmental, Social & Governance: We became a member of the UN Global Compact and aligned our sustainability strategy with the UN Sustainable Development Goals: Good health & wellbeing, Climate action, Responsible consumption and production, and Decent work and economic growth.
