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Mavic sales flat in last quarter, up 1% for the year

Published January 28, 2014

HELSINKI, Finland (BRAIN) — Mavic sales were flat in the fourth quarter of parent-company Amer Sports' fiscal year, Amer reported Tuesday. The Finnish company said Mavic sales were just a hair better than flat for the full fiscal year: up 1 percent to 129 million euros ($176 million).

Mavic contributed about 6 percent of its Amer's revenues last year; the company also owns brands in winter sports, footwear, apparel, ball sports and fitness, including Wilson, Salomon, Atomic, Arc’teryx, Suunto and Precor.

The flat annual result from Mavic was actually a bit of a rebound, as the bike brand's sales had slumped in the second quarter.

Cycling equipment (rims, wheels and tires) represented 79 percent of Mavic's net sales, and softgoods (apparel, helmets and footwear including pedals) provided 21 percent. Net sales of cycling equipment decreased in local currencies by 2 percent in wheels and rims and increased by 14 percent in cycling softgoods.

Last year Mavic did 70 percent of its sales in Europe, 15 percent in the Americas and 15 percent in the Asia Pacific. The company said sales in the Americas suffered due to a change of business model in Canada and the reorganization of the U.S. operations.

Overall, Amer saw a sales increase of 6.3 percent to 657.4 million euros ($897 million) in its fourth quarter, which ended Dec. 31. For the year, Amer sales hit 2.1 billion euros ($2.9 billion), up 8 percent from 2012.

Its sales growth was powered by footwear, which was up 25 percent, apparel (up 21 percent), sports instruments (up 18 percent) and fitness products (up 16 percent).

Winter sports sales were up 8 percent but ball sports — which are primarily Wilson products — rose just 5 percent, a 1 percent decline when adjusted for exchange rates.

Amer is traded on the NASDAQ OMX Helskinki exchange under the AGPDY symbol. Its stock performance is tracked on the BRAIN stock page.

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