Amer Sports, Inc.

Earnings Release • Sep 5, 2018

Amer Sports updates its strategy

Amer Sports updates its strategy

Amer Sports Corporation
STOCK EXCHANGE RELEASE
September 5, 2018 at 7:00 p.m.

Amer Sports updates its strategy

The company continues to pursue Sustainable Profitable Growth and prioritized
acceleration, whilst further driving transformation of the portfolio towards
areas of faster growth, higher profitability, and better asset efficiency

Amer Sports Corporation has updated the company's strategy. The company
continues to drive sustainable profitable growth as well as prioritized
acceleration in Softgoods, Business to Consumer, China, United States, and
digitalization. Going forward, the Company will further drive transformation
towards areas of faster growth, higher profitability, and better asset
efficiency, first through the integration of the acquired Peak Performance
business, and by the choice to focus the portfolio with the decision to place
the Mavic cycling business under strategic review. Today Mavic represents app.
3.5% of the Group sales.

In the mid-term, the company will complete the current strategy cycle of the
Fitness and Sports Instruments businesses, both of which are now delivering
strong growth and improvement following the strategic investment choices. As the
performance confirms itself and the units grow towards their target scale, the
company will assess their long-term strategic options, including standalone
opportunities.

The company's financial targets remain unchanged:
* Net sales: mid-single digit organic, currency-neutral annual growth
* Profit: Annual EBIT growth (excl. items affecting comparability, IAC) ahead
of net sales growth
* Cash flow conversion: Free cash flow / net profit at least 80%
* Net debt / EBITDA: Year-end net debt / EBITDA ratio max 3x

Amer Sports President and CEO Heikki Takala:

"We have continued to deliver sustainable profitable growth and solid value
creation. Our strategy is proven, driving both continuous improvement and
targeted transformation. The company profile is today increasingly attractive
with especially Softgoods, B2C, and China growing to significant weight in the
portfolio and contributing disproportionally to our value creation.

Going forward we continue to capitalize on the proven strategy whilst
accelerating our portfolio transformation towards areas of faster growth, higher
profitability, and better asset efficiency. Now we accelerate further in
Softgoods through Peak Performance, and we also review the portfolio focus
opportunities as we place the Mavic Cycling business under strategic review.
Next, we will complete the current strategy cycle of the Fitness and Sports
Instruments businesses, both of which have positive momentum, and assess the
alternatives for realizing their maximum potential.

With our updated strategy, we expect to deliver strong continuous performance
and attractive value creation."

2018 OUTLOOK MAINTAINED

Amer Sports outlook for 2018 is unchanged. In 2018, Amer Sports' net sales in
local currencies as well as EBIT excl. IAC are expected to increase from 2017.
Due to ongoing wholesale market uncertainties, the quarterly growth and
improvement are expected to be uneven. The company will prioritize sustainable,
profitable growth, focusing on its five strategic priorities (Apparel and
Footwear, Direct to Consumer, China, US, and Connected Devices and Services)
whilst continuing its consumer-led transformation.

CAPITAL MARKETS DAY SEPTEMBER 6, 2018
Amer Sports organizes a Capital Markets Day in Helsinki tomorrow, September 6
starting at 9:00 a.m. EEST. In the event, the updated company strategy will be
presented in more detail.

Live webcast: https://amersports.videosync.fi/2018-09-06-cmd

For further information, please contact:
Heikki Takala, President and CEO, tel. +358 20 712 2510
Jussi Siitonen, CFO, tel. +358 20 712 2511
Samppa Seppälä, Director, Corporate Communications and IR, tel. +358 50 568 0533

DISTRIBUTION
Nasdaq Helsinki
Main media
www.amersports.com

AMER SPORTS
Amer Sports (www.amersports.com) is a sporting goods company with
internationally recognized brands including Salomon, Arc'teryx, Peak
Performance, Atomic, Mavic, Suunto, Wilson and Precor. The company's technically
advanced sports equipment, footwear, and apparel improve performance and
increase the enjoyment of sports and outdoor activities. The Group's business is
balanced by its broad portfolio of sports and products and a presence in all
major markets. Amer Sports shares are listed on the Nasdaq Helsinki stock
exchange (AMEAS).

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