Amer Sports today published its annual report for fiscal year 2025. The report provides a comprehensive overview of the company’s financial performance (Form 20-F) and progress on strategy execution during the year.
“2025 was a remarkable year for Amer Sports and our teammates, partners, and shareholders. It gives me great pleasure to share with you some winning moments from the last 12 months, which was our first full year as a public company listed on the New York Stock Exchange,” says CEO James Zheng in his letter to shareholders.
“I would like to express my gratitude to our dedicated teammates around the world. Their hard work, creativity, and passion are instrumental in shaping Amer Sports and driving our vision of becoming the best sporting goods company in the world. I would also like to thank our shareholders, consumers, and business partners for their continued trust and support. Our success is a testament to your collective effort, and I am confident that our shared commitment to excellence will allow us to continue fulfilling our purpose of elevating the world through sport.”
2025 highlights in short
- Arc’teryx: In 2025, Arc’teryx delivered over 30% growth with strong trends across regions, channels, and categories, with Women’s and Footwear emerging as breakout growth stories, and 24 net new stores opened.
- Salomon: 2025 was a breakout year for Salomon, which grew 35% to more than $2 billion of sales, driven by Softgoods, and marked by its role as a premium partner of the 2026 Milano Cortina Winter Olympic and Paralympic Games.
- Wilson: The Ball & Racquet segment accelerated to 13% in 2025, driven by strong trends in Wilson Tennis 360, with Softgoods sales nearly doubling to represent 15% of segment sales, while baseball returned to growth.
- Winter Sports Equipment: Our market leading winter sports franchises grew double digits in 2025, with bookings, participation, and enthusiasm for ski and snowboard at record levels. Our brands won an incredible 87 medals at the Olympic and Paralympic Games.
- Improved capital structure: We further improved our leverage from 0.7x net-debt-to-adjusted EBITDA at 2024 year-end to 0.3x at year-end 2025.
- Retail excellence: On a consolidated basis, direct to consumer reached 49% of total revenues in 2025, up from 30% in 2022.
- Sustainability: In 2025, Amer Sports advanced its groupwide Climate Program, with its net zero by 2050 targets validated by the Science Based Targets initiative, while maintaining strong CDP ratings and progressing in circularity across brands.
