Amer Sports (AS) Q4 2025 Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool

Tue, February 24, 2026 astatine 8:59 AM CST 44 min read

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Feb. 24, 2026 astatine 8 a.m. ET

• Chief Executive Officer — James Zheng

• Chief Financial Officer — Andrew Page

• Chief Executive Officer, Arc’teryx — Stuart Haselden

• Chief Executive Officer, Salomon — Guillaume Meyzenq

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James volition screen cardinal operational and marque highlights, past Andrew volition supply a fiscal reappraisal astatine some the radical and conception level and besides locomotion done our guidance for the archetypal 4th and afloat twelvemonth 2026. Arc’teryx CEO, Stuart Haselden, and Salomon CEO, Guillaume Meyzenq, volition articulation for the Q&A session. With that, I'll crook the telephone implicit to James.

Operator: Thanks, Omar.

James Zheng: Fourth 4th was a large decorativeness to a breakout twelvemonth for Amer Sports. Our maturation was led by our flagship Arc’teryx brand, and the rising star, Salomon, which precocious surpassed the $2,000,000,000 US dollar income bar. In 2025, we generated 27% gross maturation to $6,600,000,000 and a 170 ground constituent adjusted operating borderline enlargement to 12.8%, with treble digit maturation crossed each segments, regions, and channels. In the 4th quarter, we grew income 28%, and the beardown momentum continues into Q1. Our show was led by method apparel and outdoor performance, with coagulated publication from wintertime sports instrumentality and shot and racket. All 4 regions achieved coagulated treble digit gross growth.

Although we generated coagulated gross borderline enlargement successful Q4, adjusted operating borderline declined 110 ground points. This was wholly owed to accelerated SG&A investments to enactment cardinal maturation opportunities, peculiarly for Salomon. Looking forward, we judge we are good positioned for beardown and profitable maturation wrong the premium sports and outdoor market, which continues to beryllium 1 of the healthiest segments successful each of consumer. Several factors springiness maine assurance successful our outlook. First, we ain a unsocial portfolio of premium innovation-driven sports and outdoor brands. Second, Arc’teryx is simply a breakout marque with starring maturation and profitability for the outdoor manufacture driven by its disruptive nonstop to user model.

Third, Salomon footwear has a compelling and unsocial marque presumption but inactive lone a tiny stock of the planetary sneaker market. Fourth, our Wilson and wintertime sports instrumentality franchises already person starring marketplace positions and volition present slower semipermanent growth, but for Wilson brushed goods, which has important maturation potential. And fifth, we person a beardown differentiated level successful Greater China, wherever we proceed to present best-in-class show crossed brands.