Amer Sports (AS) Registration Filing summary

Company overview and business model

• Operates a global portfolio of premium sports and outdoor brands, including Arc'teryx, Salomon, and Wilson, with a focus on technical apparel, outdoor performance, and ball & racquet sports.

• Emphasizes innovation, technical performance, and sustainability, leveraging a vertically integrated, direct-to-consumer (DTC) and wholesale distribution model.

• Maintains a diversified geographic presence, with significant revenue from the Americas, EMEA, Greater China, and Asia Pacific.

• Pursues growth through product innovation, geographic expansion, channel optimization, and increased brand awareness.

Financial performance and metrics

• Reported revenue of $4.37 billion in 2023, with a 14.0% adjusted EBITDA margin.

• Achieved $61.3 million net income for the nine months ended September 30, 2024, reversing a net loss in prior periods.

• Adjusted EBITDA for the nine months ended September 30, 2024, was $518.3 million, up from $422.1 million in the prior year period.

• Total assets as of September 30, 2024, were $8.83 billion, with total equity of $4.11 billion.

Use of proceeds and capital allocation

• Expects net proceeds of approximately $870.7 million (up to $1.0 billion if the underwriters' option is exercised in full) based on an assumed offering price of $26.33 per share.

• Intends to use proceeds to repay a portion of outstanding borrowings under existing term loan facilities.

• Management retains broad discretion over the application of proceeds as business conditions evolve.