HELSINKI (BRAIN) — Amer Sports' cycling segment grew 20 percent in the second quarter this year thanks to the addition of Enve sales, which joined Mavic in the segment.
Amer's cycling business sales totaled 38 million euros ($42 million) in the second quarter, and 77.7 million euros for the first half year. The half-year figure was up 8 percent over the first half of 2015. The Enve acquisition was completed March 8 for about $50 million.
Amer announced earlier this month that it would combine the Enve and Mavic sales and service teams at the Enve headquarters in Ogden, Utah, under the umbrella of the new Amer Cycling Group. Amer also announced it was departing from its dealer direct strategy for Mavic, making some Mavic products available through Hawley in the U.S. as well as dealer direct.
Overall, Amer saw an organic net sales increase of 5 percent in the second quarter and 6 percent in the first half. First half sales totaled 1.1 billion euros.
The company planned an investor conference call for mid-day Thursday Finnish time. Besides Mavic and Enve, Amer owns Arc'teryx, Salomon, Wilson, Atomic, Suunto, Precor and Louisville Slugger. The company's stock is traded under the AGPDY symbol on the nasdaq Helsinki stock exchange. The stock's performance is tracked on the BRAIN stock page.
