Yamafin Sports (AS.US) released its first financial report after its IPO: Q4 revenue increased by 10% year-on-year.

The parent company of brands such as Patagonia, Salomon, and Wilson, the Finnish sports goods group Amer Sports (AS.US), released its first financial report after going public. The report shows that in the fourth quarter of 2023, Amer Sports had a revenue of 1.315 billion US dollars, an increase of 10% compared to the same period last year. Operating profit was 59.8 million US dollars, compared to an operating loss of 58.1 million US dollars in the same period last year. Net loss was 94.9 million US dollars, compared to a net loss of 148 million US dollars in the same period last year. Adjusted loss per share was 0.11 US dollars, compared to an adjusted earnings per share of 0.12 US dollars in the same period last year. By business segment: wholesale revenue was 759 million US dollars, a 4% decrease. Direct-to-consumer (DTC) revenue was 556 million US dollars, a 37% increase; among which, e-commerce revenue increased 30% year-on-year to 273 million US dollars, and retail revenue increased 45% year-on-year to 284 million US dollars. By region, revenue in Greater China increased by 45% to 246 million US dollars, revenue in Europe, Middle East, and Africa (EMEA) decreased by 1% to 452 million US dollars, revenue in the Americas increased by 5% to 500 million US dollars, and revenue in the Asia-Pacific region increased by 22% to 117 million US dollars. The adjusted gross profit margin was 52.2%, an increase of 170 basis points compared to the same period last year. The increase in gross profit margin was mainly due to the faster growth of the company's highest gross profit margin brand, Patagonia, compared to other brands. In addition, the reduction in logistics costs, improvement in purchasing performance, and the mix of channels and regions also contributed to the growth in gross profit margin. Looking to the future, Amer Sports expects revenue to increase by 6% to 8% year-on-year in the first quarter of 2024, with an estimated adjusted gross profit margin of around 53.5%. The company also forecasts a full-year revenue growth of 15% to 16% (Mid-teens) in 2024, with an expected adjusted gross profit margin of 53.5% to 54.0%. At the time of writing, Amer Sports pre-market trading in US stocks on Tuesday fell by over 6%.