Amer Sports revenue rises 26.7% to $6.566 billion
Amer Sports achieved annual revenue of $6.566 billion in 2025, a 26.7% year-on-year increase, driven by global outdoor sports market expansion. Net profit attributable to shareholders surged 488.7% to $427 million, supported by a 220 basis point increase in gross margin to 57.6%. The Technical Apparel and Outdoor Performance segments led the growth, with Greater China revenue rising 43.4%.
*this image is generated using AI for illustrative purposes only.
Amer Sports reported annual revenue of $6.566 billion for 2025, representing a 26.7% increase year-on-year, driven by the expansion of the global outdoor sports market and consumer upgrades. The company's net profit attributable to shareholders surged 488.7% to $427 million, up from $73 million in 2024, with the net profit margin rising from 1.4% to 6.5%. This performance marked the company's first full fiscal year since its NYSE listing, maintaining a compound annual growth rate (CAGR) of approximately 23% since 2022.
Growth momentum strengthened throughout the year, with Q4 revenue reaching a record $2.101 billion. Q1 and Q3 revenues were $1.473 billion and $1.756 billion, respectively. Amer Sports' gross margin for 2025 reached 57.6%, an increase of 220 basis points from 2024. This expansion was primarily due to a higher proportion of revenue from high-margin regions such as Greater China and Asia-Pacific, an expanded Direct-to-Consumer (DTC) channel share, and an optimized product mix. Additionally, net finance costs fell sharply to $77 million following a 55.4% drop in interest expenses, bolstering profitability.
Segment Performance
All three core divisions achieved double-digit growth in 2025. The Technical Apparel segment, led by Arc'teryx, generated full-year revenue of $2.856 billion, up 30.1% year-on-year, and accounted for 43.5% of group revenue. The Outdoor Performance segment recorded revenue of $2.404 billion, up 31.0% year-on-year, with Salomon sales reaching $2 billion, a 35% increase. The Ball Sports segment also contributed to the overall growth.
| Segment | 2025 Revenue ($ billion) | YoY Growth | Contribution to Group Revenue |
|---|---|---|---|
| Technical Apparel | 2.856 | 30.1% | 43.5% |
| Outdoor Performance | 2.404 | 31.0% | - |
| Ball Sports | - | - | - |
Regional and Channel Expansion
Greater China and Asia-Pacific served as the primary growth engines. Greater China revenue reached $1.862 billion, up 43.4% year-on-year, while Asia-Pacific (excluding Greater China) revenue grew 50.7% to $773 million. In mature markets, the Americas region achieved $2.126 billion in revenue, up 14.3%, and EMEA reached $1.806 billion, up 19.3%.
DTC channels were a significant driver of growth. Technical Apparel DTC revenue reached $2.095 billion, up 35.0% year-on-year, while Outdoor Performance DTC revenue grew 62.2% year-on-year. The company added a net of 24 Arc'teryx stores globally, bringing the total to 246 by year-end, and added over 100 net new Salomon stores.
2026 Outlook
Looking ahead to 2026, Amer Sports plans to continue store expansion as a core growth lever. Arc'teryx intends to add 25–30 net new stores, focusing on China and North America. Salomon plans to open approximately 35 new stores in Greater China, and Wilson's "Tennis 360" store model is accelerating with about 30 new stores planned for the year. The company expects to benefit from industry tailwinds such as the rise of glamping, skiing, and trail driving.
Can the 488.7% surge in net profit be sustained as interest expenses stabilize and the company faces tougher year-over-year comparisons?
How will the aggressive store expansion plans for 2026 impact unit economics and operating margins amidst potential global economic slowdowns?
To what extent can the Technical Apparel and Outdoor Performance segments maintain double-digit growth as the outdoor sports market matures?
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