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Mavic Sales Up 15 Percent in Q3

Published October 27, 2011

HELSINKI, Finland (BRAIN)—Sales at Mavic rose 15 percent in the third quarter, with strong growth in wheels and cycling shoes, parent company Amer Sports stated in an earnings call Thursday.

Cycling sales totaled 28.7 million euros ($40.8 million) in the quarter ended Sept. 30, compared with 25.2 million euros ($35.8 million) a year earlier. In the first nine months of the year, sales for the segment are up 12 percent, from 79.6 million euros ($113.1 million) to 91 million euros ($129.3 million).

Amer’s winter and outdoor equipment group, which includes Mavic, reported a 24 percent increase in sales for the quarter, from 300.3 million euros ($426.8 million) to 395.7 million euros ($562.3 million). For the first nine months of the year, division sales are up 21 percent, from 598.5 million euros ($850.5 million) to 762.6 million euros ($1.08 billion).

"The third quarter was strong, with good growth in winter sports equipment, footwear, apparel, cycling, team sports and fitness,” said Heikki Takala, president and CEO of Amer Sports. “I’m especially pleased with the progress in our strategy to grow faster in footwear and apparel. The growth—which was accelerated in 2010—continued, and in the first nine months of 2011 softgoods grew by 32 percent.”

Amer Sports also owns Salomon, Wilson, Suunto, Atomic, Precor and Arc’Teryx.

Topics associated with this article: Earnings/Financial Reports

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