Amer Sports, Inc.

(AS)

Amer Sports, Inc.

AS
Source: FactSet Fundamentals
All figures in millions of U.S. Dollar except per share items. DEC '20 DEC '21 DEC '22 DEC '23
Sales 2,446.3 3,066.5 3,548.8 4,358.4
Cost of Goods Sold (COGS) incl. D&A 1,297.4 1,560.9 1,785.2 2,083.3
Gross Income 1,148.9 1,505.6 1,763.6 2,275.1
SG&A Expense 1,010.5 1,327.0 1,522.7 1,905.2
EBIT (Operating Income) 138.4 178.6 240.9 369.9
Interest Expense 239.0 235.7 236.8
D&A Expense 157.8 165.6 184.9 222.1
EBITDA 296.2 344.2 425.8 592.0

Sales Growth 25.4% 15.7% 22.8%

COGS % of Sales 53.0% 50.9% 50.3% 47.8%
Gross Margin 47.0% 49.1% 49.7% 52.2%
SG&A % of Sales 41.3% 43.3% 42.9% 43.7%
EBIT Margin 5.7% 5.8% 6.8% 8.5%
D&A % of Sales 6.5% 5.4% 5.2% 5.1%
EBITDA Margin 12.1% 11.2% 12.0% 13.6%
DEC '24E DEC '25E DEC '26E
4,903.2 5,393.5 5,825.0
2,329.0 2,561.9 2,766.9
2,574.2 2,831.6 3,058.1
2,132.9 2,346.2 2,533.9
441.3 485.4 524.3

245.2 269.7 291.3

686.4 755.1 815.5

12.5% 10.0% 8%
47.5% 47.5% 47.5%
52.5% 52.5% 52.5%
43.5% 43.5% 43.5%
9.0% 9.0% 9.0%
5.0% 5.0% 5.0%
14.0% 14.0% 14.0%