Amer Sports Corporation Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018; Provides Capital Expenditure Guidance for the Year 2018
October 26, 2018 at 05:25 am EDT
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Amer Sports Corporation reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company's net sales were 757.2 million against 697.9 million a year ago. EBIT was 111.7 million against 69.8 million a year ago. Earnings before taxes were 102.0 million against 63.5 million a year ago. Net result from continuing operations was 76.5 million or 0.66 per basic and diluted share against 47.0 million or 0.40 per basic and diluted share a year ago. Net result attributable to equity holders of the parent company was 73.6 million against 47.0 million a year ago. EBITDA was $130.6 million against $84.5 million a year ago. EBITDA excluding IAC was $135.8 million against $118.5 million a year ago. EBIT excluding IAC was 116.9 million compared to 103.8 million a year ago. Free cash flow was negative 132.2 million compared to negative 55.8 million a year ago. Net cash used in operating activities was 106.7 million against 30.9 million a year ago. Capital expenditure on non-current tangible and intangible assets was 22.4 million against 16.6 million a year ago.
For the nine months, the company's net sales were 1,804 million against 1,788.6 million a year ago. EBIT was 125.1 million against 76.8 million a year ago. Earnings before taxes were 99.1 million against 56.5 million a year ago. Net result from continuing operations was 73.9 million or 0.64 per basic and diluted share against 42.1 million or 0.36 per basic and diluted share a year ago. Net result attributable to equity holders of the parent company was 69.3 million against 42.0 million a year ago. EBITDA was $177.4 million against $126.4 million a year ago. EBITA excluding IAC was 186.8 million compared to 165.9 million a year ago. EBIT excluding IAC was 134.5 million compared to 116.3 million a year ago. Free cash flow was negative 152.8 million compared to positive 5.1 million a year ago. Net cash flow used in operating activities was 97.7 million against net cash from operating activities of 56.7 million a year ago. Capital expenditure on non-current tangible and intangible assets was 54.1 million against 49.7 million a year ago. As on September 30, 2018 net debt was 946.8 million. ROE from continuing operations was 10.9% against 6.0% a year ago.
The company also provided capital expenditure guidance for the year 2018. For the year, the company expects capital expenditure to be approximately 3.3% of net sales.
Amer Sports Corp is a Finland-based sporting goods company with internationally recognized brands including Salomon, Arcâteryx, Peak Performance, Atomic, Suunto and Wilson. The Companyâs offering of sports equipment include apparel, footwear, and accessories covers a wide range of sports, including tennis, badminton, golf, American football, soccer, baseball, basketball, alpine skiing, snowboarding, cross-country skiing, cycling, running, hiking, and diving.
Amer Sports Corporation Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018; Provides Capital Expenditure Guidance for the Year 2018