- Prachi Singh |
Amer Sports Corporation has announced that it is updating the company's strategy focusing on continued profitable growth and prioritising acceleration in softgoods, business to consumer, China, United States, and digitalisation. As a part of its growth strategy, the company will focus on integration of the acquired Peak Performance business, while placing the Mavic cycling business under strategic review, which represents around 3.5 percent of the Group sales.
Commenting on the updated strategy, Amer Sports President and CEO Heikki Takala said in a statement: "We have continued to deliver sustainable profitable growth and solid value creation. Going forward we continue to capitalize on the proven strategy whilst accelerating our portfolio transformation towards areas of faster growth, higher profitability, and better asset efficiency. Now we accelerate further in softgoods through Peak Performance, and we also review the portfolio focus opportunities as we place the Mavic Cycling business under strategic review."
Amer Sports maintains outlook for FY18
Amer Sports said that the company will complete the current strategy cycle of the fitness and sports instruments businesses in the mid term, both of which are now delivering strong growth and improvement following the strategic investment choices. As the performance confirms itself and the units grow towards their target scale, the company will assess their long-term strategic options, including standalone opportunities, it added.
The company continues to target net sales growth of mid-single digit organic, currency-neutral annual growth and annual EBIT growth (excl. items affecting comparability, IAC) ahead of net sales growth. In 2018, Amer Sports' net sales in local currencies as well as EBIT excl. IAC are expected to increase from 2017. Due to ongoing wholesale market uncertainties, the company added that quarterly growth and improvement are expected to be uneven.