HELSINKI (AP) — Global sports equipment maker Amer Sports Corp., whose brands include Atomic, Salomon and Wilson, says fourth-quarter profits plunged more than 80 percent, mainly because of one-off costs, and cautioned that market conditions would continue to be challenging.
The Helsinki-based company on Thursday reported a net profit of €5.3 million ($7.2 million), down from €31 million a year earlier while revenue grew 11 percent to €618 million. CEO Heikki Takala described last year as "good but challenging," adding that Amer would continue a long-term strategy to make the company more profitable.
"We have now delivered three consecutive years of continuous improvement, hence we see that our strategies are working," Takala said. "We continue executing with confidence." Amer said it had reached record sales for the whole of 2012 — of more than €2 billion — with "broad-based" growth. At the end of last year it employed some 7,200 people worldwide, an increase of 2 percent from a year earlier.
Shares in the company closed up slightly at €11.74 on the Helsinki Stock Exchange.