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Mavic sales up 5% in first quarter

Published April 27, 2012

HELSINKI, Finland (BRAIN) Friday April 27 2012 11:06 AM MT—Amer Sports, parent company of Mavic, is reporting a net sales increase of about 7 percent in the first quarter. Mavic's sales were up 5 percent in the period, to 36.3 million euros ($48.1 million) mostly thanks to increased sales of cycling helmets and apparel.

Amer also owns Salomon, Wilson, Atomic, Arc'teryx, Suunto, and Precor. Its net sales totaled 490 million euros ($650 million) in the January-through-March period. Its fastest growth in the period was in apparel, footwear and ball sports. Amer's winter sports business was down about 9 percent due to poor snow conditions in North America and Europe.

”We had a solid start for the year with all business areas progressing towards their targets, with
the exception of winter sports equipment," said Heikki Takala, Amer's president and CEO.

"I’m especially pleased by the apparel and footwear-driven growth and by the rebounding of our individual ball sports where we made real progress in tennis racquets. Also our emerging markets expansion continued according to plan with good growth in Russia, Latin America and China, supported by continuous investments into own retail. "

Amer Sports Corporation shares are traded on the NASDAQ OMX Helsinki Ltd stock exchange.

Topics associated with this article: Earnings/Financial Reports

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