Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13A-16 OR 15D-16

OF THE SECURITIES EXCHANGE ACT OF 1934

For the month of August 2024

Commission File Number 001-41943

Amer Sports, Inc.

(Translation of registrant’s name into English)

Cricket Square, Hutchins Drive,

P.O. Box 2681

Grand Cayman, KY1-1111

Cayman Islands

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

FORM 20-F x FORM 40-F o

EXPLANATORY NOTE

On August 20, 2024, Amer Sports, Inc. (the “Company”) released its unaudited interim consolidated financial statements for the three and six months ended June 30, 2024, along with management’s discussion and analysis of financial condition and results of operations. Copies of the Company’s management’s discussion and analysis of financial condition and results of operations and unaudited interim consolidated financial statements are furnished hereto as Exhibits 99.1 and 99.2, respectively.

INCORPORATION BY REFERENCE

This Report on Form 6-K (including the information contained in Exhibits 99.1 and 99.2 to this Report on Form 6-K) shall be deemed to be incorporated by reference into the registration statement on Form S-8 (File No. 333-276801) of the Company and to be a part thereof from the date on which this Report on Form 6-K is filed, to the extent not superseded by documents or reports subsequently filed or furnished.

EXHIBIT INDEX

The following exhibit is furnished as part of this Report on Form 6-K:


Exhibit Number						Description

99.1						Management’s Discussion and Analysis of Financial Condition and Results of Operations for the Three and Six months ended June 30, 2024

99.2						Unaudited Interim Consolidated Financial Statements for the Three and Six months ended June 30, 2024

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunder.


			Amer Sports, Inc.

			By:			/s/ Andrew E. Page
			Name:			Andrew E. Page
			Title:			Chief Financial Officer

Date: August 20, 2024

Exhibit 99.1

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion of our financial condition and results of operations should be read in conjunction with our unaudited consolidated financial statements and the notes thereto, as of and for the three and six months ended June 30, 2024 included as Exhibit 99.2 to the Report on Form 6-K to which this discussion and analysis is included as Exhibit 99.1, together with our audited financial statements and the notes thereto, and the section titled “Item 3. Key Information—D. Risk Factors,” each of which appear in our annual report on Form 20-F for the year ended December 31, 2023 filed with the SEC on March 18, 2024 (“Annual Report”) and available at www.sec.gov. As discussed in the section titled “Special Note Regarding Forward Looking Statements,” the following discussion and analysis includes forward-looking statements. These forward-looking statements are subject to risks, uncertainties and other factors that could cause our actual results to differ materially from those expressed or implied by the forward-looking statements. Factors that could cause or contribute to these differences include, but are not limited to, those identified below in such section and “Item 3. Key Information—D. Risk Factors” in our Annual Report.

Unless otherwise indicated or the context otherwise requires, all references herein to “Amer Sports, Inc.,” the “Company,” “we,” “our,” “ours,” “us” or similar terms refer to Amer Sports, Inc., together with its subsidiaries. All references to “U.S. dollars,” “dollars” or “$” are to the U.S. dollar and all references to “EUR” or “€” are to the euro. Unless otherwise indicated or the context otherwise requires, all references to “EMEA” refer to Europe, the Middle East and Africa, all references to “Greater China” refer to mainland China, Hong Kong, Macau and Taiwan and all references to “Asia Pacific” exclude Greater China. The presented figures and percentages are subject to rounding adjustments, which may cause discrepancies between the sum of the individual figures and the presented aggregated column and row totals.

Unless otherwise indicated, all financial information contained herein is prepared and presented in accordance with International Financial Reporting Standards (“IFRS”), specifically International Accounting Standard (“IAS”) 34, Interim Financial Reporting, as issued by the International Accounting Standards Board (“IASB”)

Overview

Amer Sports is a global group of iconic sports and outdoor brands, including Arc’teryx, Salomon, Wilson, Atomic and Peak Performance. Our brands are known for their detailed craftsmanship, unwavering authenticity, premium market positioning and compelling market shares in their categories. Our brands are creators of exceptional apparel, footwear, equipment, protective gear and accessories that we believe give our consumers the confidence and comfort to excel.

We operate our business through the following three reportable business segments, which reflect how we cluster our brands on the basis of similar consumer, product, marketing and operating factors:

•Technical Apparel. Technical Apparel includes outdoor apparel, footwear and accessories and consists of our Arc’teryx and Peak Performance brands.

•Outdoor Performance. Outdoor Performance includes outdoor apparel, footwear, accessories and winter sports equipment and consists of our Salomon, Atomic, and Armada brands. On May 1, 2024, the Company sold ENVE, which was part of the Outdoor Performance segment. The ENVE business represented less than 1% of the Company’s net revenue and was not considered material to the Company's consolidated results of operations.

•Ball & Racquet Sports. Ball & Racquet Sports includes sports equipment, apparel and accessories and consists of our Wilson, Louisville Slugger, DeMarini, EvoShield and ATEC brands, all of which we refer to as the Wilson Sporting Goods portfolio.

While Arc’teryx, Salomon and Wilson stand tall and lead our three segments, our other brands appropriately fit our sports-oriented portfolio. Peak Performance enhances our scale, competitive positioning and diversification across sports categories. Atomic and Armada give us a leading position in winter sports equipment, globally. Our baseball brands, which include Louisville Slugger, DeMarini, EvoShield, and ATEC, are market leaders in their respective category. Together, our brands enable us to lead and compete in various sports segments and drive the continued success of our portfolio.

For additional information about our three reportable business segments, see Note 3, “Segment Reporting,” to our unaudited consolidated financial statements included as Exhibit 99.2 to the Report on Form 6-K to which this discussion and analysis is included as Exhibit 99.1.

We generate revenue from the sale of our products through direct-to-consumer and wholesale channels:

•Direct-to-Consumer includes sales of our brands’ products through (i) owned e-commerce websites and (ii) owned retail stores, which include elevated brand stores that drive consumer engagement and factory outlet stores which serve as a liquidation channel for us.

•Wholesale includes sales of our brands’ products through general sporting goods retailers, specialty stores, independently-operated partner stores, distributors, retailer-owned and third-party e-commerce websites as well as revenue from certain licensing arrangements.

Seasonality

We experience some seasonal fluctuations in our revenue and operating results. Historically, we have realized a slightly higher portion of our revenue and earnings in the fourth quarter of the fiscal year, primarily due to higher sales through our DTC channel compared to the rest of the year and a higher share of fall and winter collections in our Technical Apparel and Outdoor Performance segments. Our Ball & Racquet Sports segment is generally more consistent across fiscal quarters. Working capital requirements typically increase throughout our second and third fiscal quarters as inventory builds to support our peak shipping and selling period which typically occurs from August to December. Cash provided by operating activities is typically highest in our first fiscal quarter due to the significant inflows associated with our peak selling season. We believe our strategy to broaden our assortment within the soft goods categories across all our brands could lead to increasingly balanced revenue and results of operations throughout the fiscal year.

Foreign Currency Exposure

We report our consolidated financial results in U.S. dollars but have significant non-U.S. operations. We face exposure to movements in foreign currency exchange rates as the financial results and the financial condition of our businesses outside of the U.S. are translated from local currencies (in particular the euro, Canadian dollar and Renminbi (“RMB”)) into U.S. Dollars. Given the strength of the U.S. dollar against our key foreign currencies, including the euro, the Canadian dollar and RMB, translation into U.S. dollars, for the periods presented results in lower profitability due to foreign currency exposure. In the future, if the U.S. dollar continues to be strong against our local currencies, we will continue to see lower profitability due to foreign currency exposure; however, if the U.S. dollar were to weaken against the euro, Canadian dollar or RMB, it could result in increased profitability.

Where possible, we manage foreign currency exposure through a variety of methods, including by financing each business unit in its functional currency and concentrating cash flows through centralized entities to limit the number of foreign currencies being utilized for purchases. Additionally, we enter into hedging arrangements to limit our exposure to foreign currency fluctuations for a significant portion of our cash flows, in particular with our most commonly used foreign currencies, including euros, Canadian dollars and RMB. Such hedging arrangements may include foreign exchange forward contracts and options, interest rate swaps, interest rate options and cross-currency swaps. The majority of our hedging arrangements are short-term and are usually rolled forward within the standard business cycle. Nonetheless, it is not practical for us to mitigate all of our foreign currency exposure, nor are we able to accurately predict the possible impact of future foreign currency exchange rate fluctuations on our results of operations, due to our constantly changing exposure to various foreign currencies, difficulty in predicting fluctuations in foreign currency exchange rates relative to the U.S. dollar and the significant number of foreign currencies involved. As we continue to expand our global operations, our exposure to foreign currency risk could become more significant.

Public Company Costs

Since the completion of our IPO, we have begun, and will continue, to incur additional costs associated with operating as a public company. In particular, our accounting, legal and personnel-related expenses and insurance costs have begun, and will continue, to increase as we establish more comprehensive compliance and governance functions, establish, maintain and review internal controls over financial reporting, and prepare and distribute periodic reports in accordance with SEC rules. Our financial statements reflect the impact of these expenses to date.

Key Financial Metrics

The following table summarizes certain key financial measures for the three and six months ended June 30, 2024 and 2023. Management regularly reviews a number of metrics, including the following key financial metrics, to evaluate our business, measure our performance, identify trends in our business, prepare financial projections and make strategic decisions. Management believes the non-IFRS financial measures presented below are useful in evaluating our performance, in addition to our financial results prepared in accordance with IFRS Accounting Standards. See “Results of Operations” for additional information and for the comparison discussion between the three and six months ended June 30, 2024 and 2023, and “Non-IFRS Financial Measures” for additional information on the non-IFRS financial measures and a reconciliation to the most comparable IFRS financial measures.


	Three months ended June 30,						Six months ended June 30,
($ in millions)	2024			2023			2024			2023
Revenue	$	993.8		$	856.8		$	2,176.7		$	1,907.1
Constant Currency Revenue (1)	$	1,013.9		$	856.8		$	2,213.0		$	1,907.1
Net (loss)/income attributable to equity holders	$	(3.7)		$	(96.9)		$	1.4		$	(78.0)
Net (loss)/income margin	(0.4)		%	(11.3)		%	0.1		%	(4.1)		%
EBITDA (2)	$	54.3		$	59.9		$	225.8		$	242.3
Adjusted EBITDA (2)	$	81.4		$	62.6		$	262.9		$	245.1
Adjusted EBITDA Margin (2)	8.2		%	7.3		%	12.1		%	12.9		%
Adjusted net income/(loss) attributable to equity holders (2)	$	24.7		$	(86.2)		$	74.9		$	(59.2)
Segment Revenue
Technical Apparel	$	407.3		$	303.0		$	917.6		$	658.2
Outdoor Performance	$	304.0		$	273.6		$	704.0		$	651.1
Ball & Racquet Sports	$	282.5		$	280.2		$	555.1		$	597.8
Segment Adjusted Operating Profit/(Loss)
Technical Apparel	$	57.8		$	39.6		$	175.1		$	122.7
Outdoor Performance	$	(6.5)		$	(16.2)		$	12.8		$	14.9
Ball & Racquet Sports	$	3.2		$	7.5		$	14.0		$	53.3

____________________________________________

(1)This is a non-IFRS financial measure. For more information regarding our use of this measure and its usefulness to investors, see “—Non-IFRS Financial Measures” below.

(2)This is a non-IFRS financial measure. For more information regarding our use of this measure and its usefulness to investors, as well as a reconciliation to the most comparable IFRS financial measure, see “—Non-IFRS Financial Measures” below.

Constant Currency Revenue

As we are a global company, the comparability of our revenue reported in U.S. dollars is also affected by foreign-currency exchange rate fluctuations because the underlying currencies in which we transact change in value over time compared to the U.S. dollar. These rate fluctuations can have a significant effect on our reported results. As a result, in addition to financial measures prepared in accordance with IFRS Accounting Standards, our revenue discussions often contain references to constant currency measures, which are calculated by translating the current period reported amounts using the actual exchange rates in use during the comparative prior period, in place of the exchange rates in use during the current period. For a further discussion of how we utilize, and limitations of, this non-IFRS financial measure, see “—Non-IFRS Financial Measures.”

EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin

We define EBITDA as net (loss)/income attributable to equity holders of the Company, plus net income attributable to non-controlling interests, income tax (benefit)/expense, finance cost, loss on debt extinguishment, depreciation and amortization (“D&A”) and minus finance income, from both continuing and discontinued operations. We define Adjusted EBITDA as EBITDA with adjustments to exclude results from discontinued operations, restructuring expenses, impairment losses on goodwill and intangible assets, expenses related to transaction activities, expenses related to certain legal proceedings and certain share-based payments. We define Adjusted EBITDA Margin as Adjusted EBITDA divided by revenue.

EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin may not be comparable to similarly titled metrics of other companies. We define Adjusted EBITDA Margin as Adjusted EBITDA divided by revenue. For a reconciliation of EBITDA and Adjusted EBITDA to net income and a reconciliation of Adjusted EBITDA Margin to net income margin and for a further discussion of how we utilize, and limitations of, these non-IFRS measures see “—Non-IFRS Financial Measures.”

Adjusted Net Income

We define Adjusted Net Income as net (loss)/income attributable to equity holders of the Company, with adjustments to exclude certain purchase price adjustments (“PPA”), which includes amortization and depreciation on the fair value adjustments of intangible and tangible assets resulting from Amer Sports' acquisition in 2019, loss from discontinued operations, restructuring expenses, impairment losses on goodwill and intangible assets, expenses related to transaction activities, expenses related to certain legal proceedings, certain share-based payments, loss on debt extinguishment, and related income tax expense. Adjusted Net Income may not be comparable to similarly titled metrics of other companies. For a reconciliation of Adjusted Net Income to net income and for a further discussion of how we utilize, and limitations of, this non-IFRS measure see “—Non-IFRS Financial Measures.”

Segment Adjusted Operating Profit

We define Segment Adjusted Operating Profit as profit/(loss) before tax for the segment plus finance cost and loss on debt extinguishment, and minus finance income with adjustments for PPA, restructuring expenses, impairment losses on goodwill and intangible assets, expenses related to transaction activities, expenses related to certain legal proceedings, and expenses related to certain share-based payments. Segment Adjusted Operating Profit is a measure of operating performance of our reportable segments and may not be comparable to similar measures reported by other companies. Segment Adjusted Operating Profit is a performance metric utilized by the Company’s Chief Operating Decision Maker to allocate resources to and assess performance of the Company’s segments. See Note 3, “Segment Reporting,” to our unaudited consolidated financial statements included elsewhere in Exhibit 99.2 to the Report on Form 6-K to which this discussion and analysis is included as Exhibit 99.1.

Results of Operations

The following table sets forth our results of operations for the periods presented.


	Three months ended June 30,				Six months ended June 30,
($ in millions)	2024		2023		2024		2023
Revenue	$	993.8	$	856.8	$	2,176.7	$	1,907.1
Cost of goods sold	(442.5)		(400.2)		(986.9)		(895.6)
Gross profit	551.3		456.6		1,189.8		1,011.5
Selling, general and administrative expenses	(560.2)		(445.3)		(1,094.4)		(867.7)
Impairment losses	(1.2)		(4.7)		(2.5)		(7.5)
Other operating income	1.6		0.9		7.6		1.6
Operating (loss)/profit	(8.5)		7.5		100.5		137.9
Finance income	2.5		1.8		5.2		3.1
Finance cost	(47.7)		(101.1)		(130.0)		(187.2)
Loss on debt extinguishment	-		-		(14.3)		-
Net finance cost	(45.2)		(99.3)		(139.1)		(184.1)
Loss before tax	(53.7)		(91.8)		(38.6)		(46.2)
Income tax benefit/(expense)	51.9		(5.2)		43.7		(31.9)
Net (loss)/income	$	(1.8)	$	(97.0)	$	5.1	$	(78.1)
(Loss)/Income attributable to:
Equity holders of the Company	$	(3.7)	$	(96.9)	$	1.4	$	(78.0)
Non-controlling interests	$	1.9	$	(0.1)	$	3.7	$	(0.1)

Revenue

The following tables set forth our consolidated revenues, and revenues disaggregated by channel, and geography.


	Three months ended June 30,				Change				Six months ended June 30,				Change
($ in millions)	2024		2023		$		%		2024		2023		$		%
Revenue	$	993.8	$	856.8	$	137.0	16.0	%	$	2,176.7	$	1,907.1	$	269.6	14.1	%

Channel Revenues
Wholesale	$	544.5	$	535.8	$	8.7	1.6	%	$	1,239.0	$	1,238.6	$	0.4	—	%
DTC	449.3		321.0		128.3		40.0	%	937.7		668.5		269.2		40.3	%
Total	$	993.8	$	856.8	$	137.0	16.0	%	$	2,176.7	$	1,907.1	$	269.6	14.1	%
Geographic Revenues
EMEA	$	231.6	$	230.1	$	1.5	0.6	%	$	590.3	$	587.0	$	3.3	0.6	%
Americas	367.8		365.9		1.9		0.5	%	777.3		775.5		1.8		0.2	%
Greater China (1)	288.6		187.6		101.0		53.8	%	598.9		393.2		205.8		52.3	%
Asia Pacific (2)	105.8		73.2		32.6		44.5	%	210.2		151.4		58.9		38.9	%
Total	$	993.8	$	856.8	$	137.0	16.0	%	$	2,176.7	$	1,907.1	$	269.6	14.1	%

__________________________________________________

(1)Consists of mainland China, Hong Kong, Macau and Taiwan.

(2)Excludes Greater China.

Revenue for the three months ended June 30, 2024, increased by $137.0 million, or 16.0%, compared to the three months ended June 30, 2023. Revenue for the six months ended June 30, 2024, increased by $269.6 million, or 14.1%, compared to the six months ended June 30, 2023. The increase for the three and six months ended June 30, 2024, compared to the three and six months ended June 30, 2023, was driven by an increase in sales volume from the Technical Apparel segment. Channel revenues were driven by DTC, which increased 40.0% and 40.3%, respectively for the three and six months ended June 30, 2024, compared to the prior year. Regional growth was led by Greater China and Asia Pacific, which increased 53.8% and 44.5%, respectively, for the three months ended June 30, 2024, and 52.3% and 38.9%, respectively, for the six months ended June 30, 2024, compared to the prior year. EMEA increased by 0.6% for both the three and six months ended June 30, 2024, compared to June 30, 2023. The Americas increased by 0.5% and 0.2%, respectively for the the three and six months ended June 30, 2024, compared to the prior year.

Revenue on a constant currency basis for the three and six months ended June 30, 2024, increased 18.3% and 16.0%, respectively, compared to the three and six months ended June 30, 2023.

Cost of Goods Sold


	Three months ended June 30,				Change				Six months ended June 30,				Change
($ in millions)	2024		2023		$		%		2024		2023		$		%
Cost of goods sold	$	(442.5)	$	(400.2)	$	(42.3)	10.6	%	$	(986.9)	$	(895.6)	$	(91.3)	10.2	%

Cost of goods sold for the three and six months ended June 30, 2024, increased by 10.6% and 10.2% compared to the three and six months ended June 30, 2023. The increase for both periods was due to an increase in consumer demand, partially offset by higher inventory reserves.

Gross Profit


	Three months ended June 30,				Change				Six months ended June 30,				Change
($ in millions)	2024		2023		$		%		2024		2023		$		%
Gross profit	$	551.3	$	456.6	$	94.7	20.7	%	$	1,189.8	$	1,011.5	$	178.3	17.6	%

Gross profit for three and six months ended June 30, 2024, increased by 20.7% and 17.6% compared to the three and six months ended June 30, 2023, respectively. Gross margin was 55.5% and 53.3% for the three months ended June 30, 2024 and 2023, respectively, and 54.7% and 53.0% for the six months ended June 30, 2024, and 2023, respectively. These increases were primarily driven by favorable segment revenue mix, due to a higher proportion of Technical Apparel revenues, which have the highest gross margins, lower logistics costs, and a favorable geographic and channel mix. Additionally, the gross margin increase for for the three and six months ended June 30, 2024, was partially offset by increased inventory reserves and unfavorable fluctuations in foreign currency exchange rates compared to prior year.

Selling, General and Administrative Expenses


	Three months ended June 30,				Change				Six months ended June 30,				Change
($ in millions)	2024		2023		$		%		2024		2023		$		%
Selling, general and administrative expenses	$	(560.2)	$	(445.3)	$	(114.9)	25.8	%	$	(1,094.4)	$	(867.7)	$	(226.7)	26.1	%

Selling, general and administrative expenses for the three months ended June 30, 2024, increased by 25.8% compared to the three months ended June 30, 2023. As a percentage of revenues, Selling, general, and administrative expenses increased to 56.4% for the three months ended June 30, 2024, compared to 52.0% for the three months ended June 30, 2023. Selling, general and administrative expenses for the six months ended June 30, 2024, increased by 26.1% compared to the six months ended June 30, 2023. As a percentage of revenues, Selling, general, and administrative expenses increased to 50.3% for the six months ended June 30, 2024, compared to 45.5% for the six months ended June 30, 2023.

These increases were due to higher selling and marketing costs of $63.9 million $142.6 million for the three and six months ended June 30, 2024, respectively, as well as higher administrative and other expenses of $51.0 million and $84.1 million for the three and six months ended June 30, 2024, respectively. The increase in selling and marketing expenses for both periods was primarily due to DTC investments and investments in Greater China and APAC, including higher retail personnel costs, advertising and promotion expenses, store rent expense, and new store openings. In e-commerce, there was an increase in online and offline marketing expenses and additional operating costs of e-commerce systems. Administrative expenses increased for the three and six months ended June 30, 2024, primarily due to higher personnel costs as a result of increased headcount, and share-based payment compensation. Selling, general and administrative expenses for the six months ended June 30, 2024, also increased due to transaction costs in connection with the IPO.

Finance Cost


	Three months ended June 30,				Change				Six months ended June 30,				Change
($ in millions)	2024		2023		$		%		2024		2023		$		%
Finance cost	$	(47.7)	$	(101.1)	$	(53.4)	52.8	%	$	(130.0)	$	(187.2)	$	(57.2)	30.6	%

Finance cost for the three months ended June 30, 2024, decreased by 52.8% compared to the three months ended June 30, 2023. Finance cost for the six months ended June 30, 2024, decreased by 30.6% compared to the six months ended June 30, 2023. The decrease for the three and six months ended June 30, 2024, compared to June 30, 2023, was due to lower outstanding debt for the three and six months ended June 30, 2024, which resulted in a decrease of interest expense of $55.0 million and $70.3 million for the three and six months ended June 30, 2024, respectively. Additionally, the decrease in finance cost for the six months ended June 30, 2024, was partially offset by an increase in exchange rate losses of $13.1 million.

Loss on debt extinguishment


	Three months ended June 30,				Change				Six months ended June 30,				Change
($ in millions)	2024		2023		$		%		2024		2023		$		%
Loss on debt extinguishment	$	-	$	-	$	-	—	%	$	(14.3)	$	-	$	(14.3)	—	%

Loss on debt extinguishment was nil for the three months ended June 30, 2024, and 2023. Loss on debt extinguishment was $14.3 million for the six months ended June 30, 2024, compared to nil for the six months ended June 30, 2023, due to the repayment of the Senior Facilities Agreement on February 16, 2024.

Income Tax Benefit/(Expense)


	Three months ended June 30,				Change			Six months ended June 30,				Change
($ in millions)	2024		2023		$		%	2024		2023		$		%
Income tax benefit/(expense)	$	51.9	$	(5.2)	$	57.1	NM	$	43.7	$	(31.9)	$	75.6	NM

Income tax benefit was $51.9 million for the three months ended June 30, 2024, compared to expense of $5.2 million for the three months ended June 30, 2023. The effective tax rate was 97% and (6)% for the three months ended June 30, 2024, and 2023, respectively. Income tax benefit was $43.7 million for the six months ended June 30, 2024, compared to expense of $31.9 million for the six months ended June 30, 2023. The effective tax rate was 113% and (69)% for the six months ended June 30, 2024, and 2023, respectively.

The three and six months ended June 30, 2024, included a discrete tax benefit of $19.9 million due to the reversal of uncertain tax positions as a result of the closure of tax audits and expiration of statute of limitations, which was partially offset by an unfavorable return to provision adjustment of $11.8 million. The effective tax rate of (6)% and (69)% for the the three and six months ended June 30, 2023, was due to high non-deductible interest expenses.

Segment Results of Operations

Our management evaluates operating performance and makes investment and other decisions based on segment revenue and Segment Adjusted Operating Profit. Costs allocated to the segments include certain centralized functions provided and administered by the Amer Sports Group, such as costs related to sourcing, warehousing, distribution and transportation, our global business services center and information technology, based on appropriate metrics such as headcount, activity, usage or proportion of revenue.

Unallocated costs include costs related to supply chain management, general executive management, cybersecurity, and other group functions such as finance, internal audit, tax, legal and human resources.

The following tables set forth certain financial information for our reportable segments for the periods presented.

Segment Revenue


	Three months ended June 30,				Change				Six months ended June 30,				Change
($ in millions)	2024		2023		$		%		2024		2023		$		%
Technical Apparel	$	407.3	$	303.0	$	104.3	34.4	%	$	917.6	$	658.2	$	259.4	39.4	%
Outdoor Performance	304.0		273.6		30.4		11.1	%	704.0		651.1		52.9		8.1	%
Ball & Racquet	282.5		280.2		2.3		0.8	%	555.1		597.8		(42.7)		(7.1)	%
Total	$	993.8	$	856.8	$	137.0	16.0	%	$	2,176.7	$	1,907.2	$	269.5	14.1	%

Segment Adjusted Operating Profit (1)


	Three months ended June 30,				Change				Six months ended June 30,				Change
($ in millions)	2024		2023		$		%		2024		2023		$		%
Technical Apparel	$	57.8	$	39.6	$	18.2	46.0	%	$	175.1	$	122.7	$	52.4	42.7	%
Outdoor Performance	(6.5)		(16.2)		9.7		(59.9)	%	12.8		14.9		(2.1)		(14.1)	%
Ball & Racquet Sports	3.2		7.5		(4.3)		(57.3)	%	14.0		53.3		(39.3)		(73.7)	%

__________________________________________________

(1)Segment Adjusted Operating Profit for all periods presented excludes depreciation and amortization expense associated with PPA in connection with the Acquisition.

The following table summarizes depreciation and amortization expense for the three and six months ended June 30, 2024, and 2023.


	Three months ended June 30,				Six months ended June 30,
($ in millions)	2024		2023		2024		2023
Technical Apparel	$	(27.6)	$	(20.6)	$	(55.6)	$	(41.1)
Outdoor Performance	(25.2)		(23.5)		(50.5)		(47.2)
Ball & Racquet Sports	(8.1)		(6.7)		(15.7)		(13.0)
Total	$	(60.9)	$	(50.8)	$	(121.8)	$	(101.3)

The following table summarizes PPA related to depreciation and amortization expense for the three and six months ended June 30, 2024, and 2023.


	Three months ended June 30,				Six months ended June 30,
($ in millions)	2024		2023		2024		2023
Technical Apparel	$	(2.4)	$	(2.4)	$	(4.6)	$	(4.8)
Outdoor Performance	(8.0)		(8.0)		(16.0)		(16.0)
Ball & Racquet Sports	(0.3)		(0.3)		(0.6)		(0.6)
Total	$	(10.7)	$	(10.7)	$	(21.2)	$	(21.4)

Technical Apparel


	Three months ended June 30,				Change				Six months ended June 30,				Change
($ in millions)	2024		2023		$		%		2024		2023		$		%
Channel Revenues
Wholesale	$	117.1	$	94.6	$	22.5	23.8	%	$	283.9	$	214.0	$	69.9	32.7	%
DTC	290.2		208.4		81.8		39.3	%	633.7		444.2		189.4		42.6	%
Total	$	407.3	$	303.0	$	104.3	34.4	%	$	917.6	$	658.2	$	259.4	39.4	%

The following table sets forth certain operating data for our Technical Apparel Segment.


	As of June 30,				Change
	2024		2023		%
Store Count (1)
Arc'teryx	160		134		19.4	%
Peak Performance	43		40		7.5	%
Total	203		174		16.7	%
Omni-comp (2)	26.0	%	80.0	%

__________________________________________________

(1)Reflects the number of Technical Apparel owned retail stores open at the end of the fiscal period. Management reviews the number of new and closed stores to assess revenue growth and drivers of trends in revenue.

(2)Omni-comp reflects year over year revenue growth from owned retail stores and e-commerce sites that have been open at least 13 months.

Technical Apparel revenue for the three months ended June 30, 2024, increased by 34.4% compared to the three months ended June 30, 2023. Technical Apparel revenue for the six months ended June 30, 2024, increased 39% compared to the six months ended June 30, 2023. The increase for both periods was primarily driven by growth by Arc’teryx within the DTC channel. DTC revenues increased by 39.3% and 42.6%, for the three and six months ended June 30, 2024, compared to the three and six months ended June 30, 2023, respectively. The increase was driven by volume growth in our existing retail stores and e-commerce platforms, and an expanded retail store network with a net increase of 26 owned retail stores. Revenues from our wholesale channel increased 23.8% and 32.7%, for the three and six months ended June 30, 2024, compared to the three and six months ended June 30, 2023, respectively, driven by an increase in volumes as compared to the prior year. Regionally, growth was led by Asia Pacific, followed by Greater China, and the Americas, which was partially offset by declines in EMEA for the three months ended June 30, 2024, compared to prior year. All regions increased for the six months ended June 30, 2024, led by Asia Pacific and Greater China.

Technical Apparel revenue on a constant currency basis for the three and six months ended June 30, 2024, increased 38.4% and 43.4%, respectively, compared to the three and six months ended June 30, 2023.

Segment Adjusted Operating Profit in our Technical Apparel segment increased by 46.0% and 42.7% for the three and six months ended June 30, 2024, compared to the three and six months ended June 30, 2023, respectively. This was primarily driven by revenue growth. Segment adjusted operating profit margin was 14.2% and 19.1% for the three and six months ended June 30, 2024, respectively, compared to 13.1% and 18.6% for the three and six months ended June 30, 2023, respectively. The increase for the three months ended June 30, 2024, was driven by higher gross margins as a result of favorable channel and geographic mix and lower selling, general, and administrative expenses as a percentage of revenue. The increase for the six months ended June 30, 2024, was driven by the increase in other operating income due to an increase of government subsidies in Greater China.

Outdoor Performance


	Three months ended June 30,				Change				Six months ended June 30,				Change
($ in millions)	2024		2023		$		%		2024		2023		$		%
Channel Revenues
Wholesale	$	187.9	$	198.5	$	(10.6)	(5.4)	%	$	481.0	$	500.5	$	(19.5)	(3.9)	%
DTC	116.1		75.1		40.9		54.5	%	223.0		150.6		72.4		48.1	%
Total	$	304.0	$	273.6	$	30.4	11.1	%	$	704.0	$	651.1	$	52.9	8.1	%

The following table sets forth certain operating data for our Outdoor Performance Segment.


	As of June 30,				Change
	2024		2023		%
Store count (1)
Salomon	160		111		44.1	%
Armada	2		2		—	%
Total	162		113		43.4	%
Omni-comp (2)	32.0	%	36.0	%

__________________________________________________

(1)Reflects the number of Outdoor Performance owned retail stores open at the end of the fiscal period. Management reviews the number of new and closed stores to assess revenue growth and drivers of trends in revenue.

(2)Omni-comp reflects year over year revenue growth from owned retail stores and e-commerce sites that have been open at least 13 months.

Outdoor Performance revenue for the three months ended June 30, 2024, increased by 11.1% compared to the three months ended June 30, 2023. Outdoor Performance revenue for the six months ended June 30, 2024, increased 8.1% compared to the six months ended June 30, 2023. The increases in both periods was primarily driven by Salomon growth in footwear. DTC revenues increased by 54.5% and 48.1% for the three and six months ended June 30, 2024, compared to the three and six months ended June 30, 2023, respectively, due to an expanded retail store network with a net increase of 49 owned retail stores and an increase of online traffic to our owned e-commerce websites. Revenues from our wholesale channel decreased 5.4% and 3.9% for the three and six months ended June 30, 2024, compared to the three and six months ended June 30, 2023, respectively, due to lower unit sales based on the timing of customer orders compared to the prior year for our winter sports equipment brands, which was partially offset by higher unit sales for Salomon based on the timing of customer orders compared to the prior year. By geography, Outdoor Performance revenue increased in Greater China, Asia Pacific, and EMEA, which was offset by a decline in the Americas for both the three and six months ended June 30, 2024, compared to prior year.

Outdoor Performance revenue on a constant currency basis for the three and six months ended June 30, 2024, increased 13.3% and 9.3%, respectively compared to the three and six months ended June 30, 2023.

Segment Adjusted Operating Profit in our Outdoor Performance segment increased by 59.9% for the three months ended June 30, 2024, compared to the three months ended June 30, 2023. This was primarily driven by revenue growth,

which was partially offset by an increase in selling, general, and administrative expenses. Segment adjusted operating profit margin was (2.1)% and (5.9)% for three months ended June 30, 2024, and 2023, respectively. The increase in operating profit margin was due to gross margin improvements from a favorable region and channel mix, and lower discounts, and decreased selling, general, and administrative expenses as a percentage of revenues.

Segment Adjusted Operating Profit in our Outdoor Performance segment decreased by 14.1% for the six months ended June 30, 2024, compared to the six months ended June 30, 2023. Segment adjusted operating profit margin was 1.8% and 2.3% for six months ended June 30, 2024 and 2023, respectively. This was primarily due to increased selling, general, and administrative expenses as a result of an increase in the share of DTC sales, which was partially offset by gross margin improvements from a favorable channel and region mix.

Ball & Racquet Sports


	Three months ended June 30,				Change				Six months ended June 30,				Change
($ in millions)	2024		2023		$		%		2024		2023		$		%
Channel Revenues
Wholesale	$	239.5	$	242.8	$	(3.3)	(1.4)	%	$	474.1	$	524.1	$	(50.0)	(9.5)	%
DTC	43.0		37.4		5.5		14.8	%	81.0		73.7		7.3		9.9	%
Total	$	282.5	$	280.2	$	2.3	0.8	%	$	555.1	$	597.8	$	(42.7)	(7.1)	%

The following table sets forth certain operating data for our Ball & Racquet Sports Segment.


	As of June 30,				Change
	2024		2023		%
Store count (1)
Wilson	26		12		116.7	%
Total	26		12		116.7	%
Omni-comp (2)	1.0	%	18.0	%

__________________________________________________

(1)Reflects the number of Ball & Racquet owned retail stores open at the end of the fiscal period. Management reviews the number of new and closed stores to assess revenue growth and drivers of trends in revenue.

(2)Omni-comp reflects year over year revenue growth from owned retail stores and e-commerce sites that have been open at least 13 months.

Ball & Racquet segment revenue for the three months ended June 30, 2024, increased by 0.8% compared to the three months ended June 30, 2023. The growth was driven by a 14.8% increase in DTC sales, which was partially offset by a 1.4% decline in wholesale revenues. The growth was driven by the racquet, golf, and Wilson softgoods product categories, which was partially offset by declines in baseball and inflatable balls. Segment revenue for the six months ended June 30, 2024, decreased 7.1% compared to the six months ended June 30, 2023. Revenues from our wholesale channel decreased 9.5% for the six months ended June 30, 2024, compared to the six months ended June 30, 2023. The decline was due to the baseball, racquet, and basketball product categories, partially offset by growth in Wilson softgoods.

Ball & Racquet revenue on a constant currency basis increased 1.6% compared to the three months ended June 30, 2023. Revenue on a constant currency basis for the six months ended June 30, 2024, decreased 6.7% compared to the six months ended June 30, 2023.

Segment Adjusted Operating Profit in our Ball & Racquet segment decreased by 57.3% and 73.7% for the three and six months ended June 30, 2024, compared to the three and six months ended June 30, 2023, respectively. Segment adjusted operating profit margin was 1.1% and 2.5% for the three and six months ended June 30, 2024, respectively, compared to 2.7% and 8.9% for the three and six months ended June 30, 2023, respectively. Segment adjusted operating profit was negatively impacted for the three and six months ended June 30, 2024, due to increased selling, general and administrative expenses related to retail investments and the timing of advertising and promotion expenses compared to the

three and six months ended June 30, 2023. Additionally, segment adjusted operating profit for the six months ended June 30, 2024, was also negatively impacted by a decrease in gross margin due to higher discounts compared to the prior year.

Non-IFRS Financial Measures

Management uses certain non-IFRS financial measures to supplement the financial measures prepared in accordance with IFRS Accounting Standards, which include constant currency revenue, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin and Adjusted Net Income attributable to equity holders. We use constant currency revenue information to provide a framework to assess how our business segments performed excluding the effects of foreign currency exchange rate fluctuations. Management believes that EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin enhance an investor’s understanding of our financial and operating performance from period to period, because they exclude certain material items relating to income tax expense, finance cost and depreciation and amortization which are not reflective of our ongoing operations and performance. Management believes Adjusted EBITDA, Adjusted EBITDA Margin, and Adjusted Net Income enhance an investor’s understanding of our financial and operating performance because they exclude certain material items relating to restructuring expenses, impairment losses on goodwill and intangible assets, expenses related to transaction activities, expenses related to certain legal proceedings, share-based payments and the associated income tax expense, which are not reflective of our ongoing operations and performance. In addition, management believes constant currency revenue, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin and Adjusted Net Income are measures commonly used by investors to evaluate companies in the apparel, footwear, sports equipment, protective gear and accessories industries.

However, there are limitations to the use of these non-IFRS financial measures as analytical tools and they should not be considered in isolation or as a substitute for other financial measures calculated and presented in accordance with IFRS Accounting Standards and may not be comparable to similarly titled non-IFRS measures used by other companies. Constant currency revenue is limited as a metric to review the Company’s financial results as it does not reflect impacts of foreign currency on revenue. Some of the limitations of EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin include: excluding certain tax payments that may reduce cash available to us; not reflecting any cash capital expenditure requirements for the assets being depreciated and amortized that may have to be replaced in the future; not reflecting changes in, or cash requirements for, our working capital needs; and not reflecting the interest expense, or the cash requirements necessary to service interest or principal payments, on our debt. Some of the limitations of Adjusted Net Income include: excluding the impact of PPA, restructuring expenses, expenses related to transaction activities, expenses related to certain legal proceedings, certain expenses related to share-based payments, and loss on debt extinguishment.

The tables below reconcile each of the following non-IFRS financial measures to their respective most directly comparable IFRS measure for the periods presented.

EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin


	Three months ended June 30,						Six months ended June 30,
($ in millions)	2024			2023			2024			2023
Revenue	$	993.8		$	856.8		$	2,176.7		$	1,907.1
Net (loss)/income attributable to equity holders	$	(3.7)		$	(96.9)		$	1.4		$	(78.0)
Net income/(loss) attributable to non-controlling interests	1.9			(0.1)			3.7			(0.1)
Income tax (benefit)/expense	(51.9)			5.2			(43.7)			31.9
Finance cost (1)	47.7			101.1			130.0			187.2
Loss on debt extinguishment	-			-			14.3			-
Depreciation and amortization (2)	62.8			52.4			125.3			104.4
Finance income	(2.5)			(1.8)			(5.2)			(3.1)
EBITDA	54.3			59.9			225.8			242.3
Restructuring expenses (3)	8.8			0.2			9.7			0.1

Expenses related to transaction activities (4)	12.2			2.5			18.0			2.7

Share-based payments (5)	6.1			-			9.4			-
Adjusted EBITDA	$	81.4		$	62.6		$	262.9		$	245.1
Net (loss)/income margin	(0.4)		%	(11.3)		%	0.1		%	(4.1)		%
Adjusted EBITDA Margin	8.2		%	7.3		%	12.1		%	12.9		%

__________________________________________________

(1)Total interest expense on lease liabilities under IFRS 16, Leases was $4.9 million and $2.0 million for the three months ended June 30, 2024, and 2023, and $9.2 million and $4.0 million for the six months ended June 30, 2024, and 2023, respectively.

(2)Total amortization expense for right-of-use assets capitalized under IFRS 16, Leases was $29.2 million and $19.3 million for the three months ended June 30, 2024, and 2023, and $55.7 million and $38.1 million for the six months ended June 30, 2024, and 2023, respectively.

(3)Includes expenses for restructuring from severance, exit and termination events, and other non-recurring costs from payroll tax audits.

(4)Includes advisory fees in connection with M&A activities and non-recurring costs associated with our IPO and disposal of businesses.

(5)Includes expenses for share-based payments and for fixed cash compensation on stock options vested at period end under the 2019 and 2023 ESOP plans. We granted share-based compensation to employees under these equity compensation plans beginning in 2019, but did not incur any expenses related to share-based payments in periods prior to the fourth quarter of fiscal year 2023, as options granted under our equity compensation plans only vest once certain service and performance conditions are met, as well as upon the occurrence of an exit event, such as an initial public offering, and we did not believe an exit event was probable during such time. We started recognizing expenses related to share-based payments during the fourth quarter of the year ended December 31, 2023, as our IPO became probable.

Adjusted Net Income


	Three months ended June 30,				Six months ended June 30,
($ in millions)	2024		2023		2024		2023
Net (loss)/income attributable to equity holders	$	(3.7)	$	(96.9)	$	1.4	$	(78.0)
PPA (1)	10.7		10.7		21.4		21.4
Restructuring expenses (2)	8.8		0.2		9.7		0.1

Expenses related to transaction activities (3)	12.2		2.5		36.0		2.7

Share-based payments (4)	6.1		-		9.4		-
Loss on debt extinguishment	-		-		14.3		-
Income tax expense	(9.4)		(2.7)		(17.3)		(5.3)
Adjusted net income/(loss) attributable to equity holders	$	24.7	$	(86.2)	$	74.9	$	(59.2)

__________________________________________________

(1)Adjustment for PPA is related to amortization of intangible assets in connection with the acquisition and delisting of Amer Sports in 2019.

(2)Includes expenses for restructuring from severance, exit and termination events, and other non-recurring costs from payroll tax audits.

(3)Includes advisory fees in connection with M&A activities and non-recurring costs associated with our IPO and disposal of businesses. For the six months ended June 30, 2024, expenses for transaction activities includes approximately $18.0 million of foreign currency exchange losses related to contract costs incurred in association with our IPO, which are classified as Finance costs on the Consolidated Statement of Income and Loss.

(4)Includes expenses for share-based payments and for fixed cash compensation on stock options vested at period end under the 2019 and 2023 ESOP plans. We granted share-based compensation to employees under these equity compensation plans beginning in 2019, but did not incur any expenses related to share-based payments in periods prior to the fourth quarter of fiscal year 2023, as options granted under our equity compensation plans only vest once certain service and performance conditions are met, as well as upon the occurrence of an exit event, such as an initial public offering, and we did not believe an exit event was probable during such time. We started recognizing expenses related to share-based payments during the fourth quarter of the year ended December 31, 2023, as our IPO became probable.

Liquidity and Capital Resources

Our primary need for liquidity is to fund working capital requirements, capital expenditures, debt service, lease obligations and for general corporate purposes. Typically, the highest level of working capital has been reached in the third quarter when inventory and accounts receivable are at a peak during the fall and winter shopping season.

Our future contractual obligations are further discussed in “Contractual Obligations and Commitments” below. Historically, our main sources of liquidity have been cash flow from operating activities, shareholder loans and borrowings under our existing credit facilities. See “Indebtedness” below.

We had $255.9 million and $278.5 million of cash and cash equivalents as of June 30, 2024, and 2023, respectively. The $22.6 million decrease in cash and cash equivalents as of June 30, 2024, as compared to June 30, 2023, was primarily due to an increase in cash flows used in financing and investing activities, partially offset by improved net cash flows from operating activities.

We believe our existing cash and cash equivalent balances, cash flow from operations and credit facilities will be sufficient to meet our working capital and capital expenditure needs for at least the next 12 months. Our long-term capital requirements may vary materially from those currently planned and will depend on many factors, including the rate of revenue growth, the timing and extent of spending on research and development efforts, new owned retail store openings and other growth initiatives, the expansion of sales and marketing activities, the timing of new products, and overall economic conditions. Our capital expenditures for 2023 were approximately $136.3 million, and our capital expenditure for

2024 are expected to be approximately $310.0 million. The increase in planned capital expenditures is related to new retail store openings, the upgrade of our global SAP enterprise resource planning system over the next several years, which we are in the process of implementing across each of our brands, and the expansion of our warehousing facilities.

To the extent that current and anticipated future sources of liquidity are insufficient to fund our future business activities and requirements, we may be required to seek additional equity or debt financing. The sale of additional equity would result in additional dilution to shareholders. The incurrence of debt financing would result in debt service obligations and the instruments governing such debt could provide for operating and financing covenants that may restrict our operations. We also regularly evaluate market conditions, our liquidity profile, and various financing alternatives for opportunities to enhance our capital structure. If market conditions are favorable, we may refinance our existing debt or issue additional securities. There can be no assurances that we will be able to raise additional capital on terms that are attractive to us or at all. The inability to raise capital may adversely affect our ability to achieve our business objectives.

Cash Flow Information

The following table sets forth our consolidated cash flow information for the periods presented:


	Six months ended June 30,
($ in millions)	2024		2023
Total net cash flows from/(used in) operating activities	$	66.8	$	(66.9)
Net cash flow used in investing activities	$	(114.4)	$	(56.3)
Net cash flow (used in)/from financing activities	$	(165.8)	$	4.7

Operating Activities

Total net cash flows from operating activities were $66.8 million for the six months ended June 30, 2024, compared to cash outflows of $66.9 million for the six months ended June 30, 2023. The increase of $133.7 million in cash inflows from operating activities was due to a favorable net change in working capital of $146.9 million, primarily driven by lower inventory levels, and an increase in net income of $83.2 million This was partially offset by a decrease in adjustments for non-cash and other items of $96.8 million, primarily due to an income tax benefit for the six months ended June 30, 2024.

Investing Activities

Net cash flows used in investing activities was $114.4 million for the six months ended June 30, 2024 compared to $56.3 million for the six months ended June 30, 2023. The increase of $58.1 million in cash flows used in investing activities was primarily due to increased investments in property, plant and equipment, mainly consisting of the expansion of our retail store network, and acquisition of intangible assets related to the implementation of a new SAP ERP system.

Our capital expenditures (which we define herein to refer to the acquisition of property, plant and equipment and the acquisition of intangible assets, as presented in our consolidated statement of cash flows) for the six months ended June 30, 2024, and June 30, 2023, totaled $127.2 million and $55.2 million, respectively.

Financing Activities

Net cash flows used in financing activities was $165.8 million for the six months ended June 30, 2024, compared to cash from financing activities of $4.7 million for the six months ended June 30, 2023. The increase of $170.5 million in cash used in financing activities was primarily driven by the repayment of $2.23 billion of the old Term Loan Facility under the Senior Facilities Agreement, $1.5 billion that was paid for Loans from related parties, a $115.4 million decrease in net proceeds from revolving credit facilities, and $25.2 million due to the settlements of forward contract and balance sheet hedges. This was partially offset by $2.0 billion in proceeds received from the new term loan facilities and senior secured notes, and $1.5 billion of net proceeds received from the IPO.

Indebtedness

6.750% Senior Secured Notes

On February 16, 2024, Amer Sports Company (the “Issuer”), our wholly owned subsidiary, entered into an indenture (the “Indenture”) with The Bank of New York Mellon, as trustee, Wilmington Trust (London) Limited, as notes collateral agent, and the guarantors party thereto, pursuant to which the Issuer issued $800 million principal amount of 6.750% senior secured notes (the “Notes”). Pursuant to the Indenture, the Notes will mature on February 16, 2031. Interest on the Notes are payable semi-annually in arrears on each March 1 and September 1, beginning on September 1, 2024.

The Notes are jointly and severally guaranteed by the Company and each of the Company’s subsidiaries (other than the Issuer) that is a borrower or a guarantor under the New Senior Secured Credit Facilities (the “Note Guarantors”). The Notes and the guarantees related thereto are senior obligations and are secured, subject to permitted liens and certain other exceptions, by the same first priority liens that secure the obligations of the Issuer and the Note Guarantors under the New Senior Secured Credit Facilities.

The Notes will be redeemable at the option of the Issuer, in whole or in part, on or after February 16, 2027, at the redemption prices set forth in the Indenture.

In addition, prior to February 16, 2027, the Issuer may, at its option and on one or more occasions, redeem up to 10% of the aggregate principal amount of the Notes under the Indenture (including any additional Notes) during any 12-month period at a redemption price equal to 103% of the principal amount of the Notes being redeemed. Prior to February 16, 2027, the Issuer may on any one or more occasions redeem up to 40% of the aggregate principal amount of Notes issued under the indenture at a redemption price of 106.750% of the principal amount thereof, subject to the limitations set forth in the Indenture.

Upon the occurrence of a Change of Control (as defined in the Indenture), unless the Issuer has exercised its right to redeem all of the Notes, as described above, each holder of the Notes will have a right to repurchase all or any part of that holder’s Notes at a purchase price equal to 101% of the aggregate principal amount of Notes repurchased plus accrued and unpaid interest on the Notes repurchased to, but excluding, the date of purchase.

The Indenture contains covenants that limit the ability of the Company and any of its Restricted Subsidiaries (as such term is defined in the Indenture), to, among other things incur or guarantee additional indebtedness, make certain investments and other restricted payments; create liens, enter into transactions with affiliates, engage in mergers, consolidations or amalgamations; and transfer and sell assets. The Indenture also provides for customary events of default.

New Senior Secured Credit Facilities

On February 16, 2024, the Company entered into a Credit Agreement (the “Credit Agreement”) among the Company, certain subsidiaries of the Company as borrowers, the financial institutions party thereto as lenders and issuing banks, JPMorgan Chase Bank, N.A. as administrative agent, J.P. Morgan SE, as swingline lender, and Wilmington Trust (London) Limited as collateral agent.

The Credit Agreement provides for a U.S. dollar denominated term loan facility of $500 million with a seven-year term to maturity (the “USD Term Loan Facility”), a Euro denominated term loan facility of €700 million with a seven-year term to maturity (the “EUR Term Loan Facility”, and together with the USD Term Loan Facility, the “New Term Loan Facilities”) and a five-year revolving credit facility of $710 million (the “New Revolving Credit Facility”). The USD Term Loan Facility is denominated in U.S. dollars, the EUR Term Loan Facility is denominated in Euros and borrowings under the New Revolving Credit Facility are available in U.S. dollars or Euros. As of June 30, 2024, borrowings under the USD Term Loan Facility and EUR Term Loan Facility were $498.8 million and EUR 700.0 million, respectively. No amounts were borrowed on the New Revolving Credit Facility.

Interest and Fees

Borrowings under the New Revolving Credit Facility in: (i) U.S. dollars will bear interest at a rate per annum equal to, at the option of the Company, either (a) a term SOFR-based rate or (b) a U.S. dollar base rate and (ii) Euros will bear interest at a rate per annum equal to EURIBOR (provided, however, that the term SOFR-based rate and EURIBOR shall be no less than 0.00% per annum at any time and the U.S. dollar base rate shall be no less than 1.00% per annum at any time),

in each case, plus an applicable margin. Borrowings under the (i) USD Term Loan Facility will bear interest at a rate per annum equal to, at the option of the Company, either (x) a term SOFR-based rate or (y) a U.S. dollar base rate and (ii) EUR Term Loan Facility will bear interest at a rate per annum equal to EURIBOR (provided, however, that the term SOFR-based rate and EURIBOR shall be no less than 0.00% per annum at any time and the U.S. dollar base rate shall be no less than 1.00% per annum at any time), in each case, plus an applicable margin.

The applicable interest rate margins for borrowings under the New Revolving Credit Facility are between 0.75% to 1.75% with respect to U.S. dollar base rate borrowings and between 1.75% to 2.75% with respect to SOFR or EURIBOR borrowings based on the Company’s first lien net leverage ratio (the “Applicable Rate”). The applicable interest rate margins for borrowings under the USD Term Loan Facility are between 2.00% to 2.25% with respect to U.S. dollar base rate borrowings and between 3.00% to 3.25% with respect to SOFR borrowings based on the Company’s senior unsecured non-credit-enhanced long-term debt rating. The applicable interest rate margins for borrowings under the EUR Term Loan Facility are between 3.25% to 3.50% based on the Company’s senior unsecured non-credit-enhanced long-term debt ratings.

In addition, the Company is required to pay quarterly commitment fees equal to 30% of the Applicable Rate then in effect for SOFR borrowings under the New Revolving Credit Facility, on a per annum basis in respect of the unutilized commitments under the New Revolving Credit Facility, payable quarterly in arrears. The Company will also be required to pay letter of credit fees on the maximum amount available to be drawn under all outstanding letters of credit in an amount equal to the Applicable Rate on SOFR borrowings under the New Revolving Credit Facility on a per annum basis, payable quarterly in arrears, as well as customary fronting fees for the issuance of letters of credit and agency fees.

The mandatory annual principal repayment for the USD Term Loan Facility is 1.00% per annum, payable in quarterly installments, and the first installment in respect of the USD Term Loan Facility is payable on June 30, 2024. The EUR Term Loan Facility is not expected to be subject to scheduled amortization payments. The Company may direct that prepayments be applied to such principal payments in order of maturity.

Collateral and Guarantors

The New Senior Secured Credit Facilities are secured by substantially all of the assets of the Company and certain wholly-owned subsidiaries of the Company that are organized in the United States, Austria, Canada, Switzerland, Cayman Islands, Finland, France, Hong Kong and Sweden, subject to certain exceptions and subject to the agreed security principles with respect to any such subsidiaries that are not organized in the United States or Canada.

The obligations of the Company and the obligations of the guarantors under the New Senior Secured Credit Facilities and certain hedging arrangements and cash management arrangements entered into with lenders under the New Senior Secured Credit Facilities (or affiliates thereof) are secured by first-priority security interests in the collateral securing such facilities subject to certain exclusions set forth in the credit documentation governing the New Senior Secured Credit Facilities.

Prepayments

Subject to certain exceptions and customary baskets set forth in the Credit Agreement, the Company is required to make mandatory prepayments of the loans under the New Term Loan Facilities under certain circumstances, including from: (i) 100% of the net cash proceeds of insurance and condemnation proceeds for property or asset losses (subject to reinvestment rights, decreases based on leverage ratios and a net proceeds threshold), (ii) 100% of the net cash proceeds from the incurrence of debt (other than permitted debt under the Credit Agreement), (iii) 50% of excess cash flow subject to decrease based on leverage ratios and subject to a threshold amount and (iv) 100% of net cash proceeds from asset sales (subject to reinvestment rights, decrease based on leverage ratios and net proceeds threshold). These mandatory prepayments may be used to satisfy future amortization.

The Company is permitted to voluntarily reduce the unutilized portion of the revolving commitment amount and repay outstanding loans under the New Revolving Credit Facility at any time without premium or penalty, other than customary “breakage” costs with respect to SOFR and EURIBOR loans. The Company is permitted to voluntarily repay outstanding loans under the New Term Loan Facilities at any time without premium or penalty; provided that that any voluntary prepayment, refinancing or repricing of the New Term Loan Facilities in connection with certain repricing transactions that occur prior to the six-month anniversary of the closing of the New Senior Secured Credit Facilities shall be subject to a prepayment premium of 1.00% of the principal amount of the term loans so prepaid, refinanced or repriced.

Certain Covenants and Events of Default

The Credit Agreement contains a number of covenants that, among other things and subject to certain exceptions, restrict the Company’s and its subsidiaries’ ability to incur additional indebtedness; create liens; enter into agreements and other arrangements that include negative pledge clauses; pay dividends on capital stock or redeem, repurchase or retire capital stock or subordinated indebtedness; make investments, loans, advances and acquisitions; merge, amalgamate or sell assets, including equity interests of subsidiaries; enter into sale and leaseback transactions; engage in transactions with affiliates; and enter into amendments of or waivers under subordinated indebtedness. The Credit Agreement also contains certain customary affirmative covenants.

The New Revolving Credit Facility also contains financial covenants that: (1) require the Company to maintain a maximum first lien net leverage ratio of not greater than 5.00:1.00 and (2) require the Company to maintain an interest coverage ratio of not less than 2.00:1.00, which shall increase to 2.25:1.00 as of the fiscal quarter ending December 31, 2025 and shall further increase to 2.50:1.00 as of the fiscal quarter ending December 31, 2026. The financial covenants contain a customary term loan facility standstill and customary cure rights.

The Credit Agreement also contains certain customary events of default. If an event of default, as specified in the Credit Agreement shall occur and be continuing, the borrowers thereunder may be required to repay all amounts outstanding under the Credit Facilities.

Senior Facilities Agreement

On March 20, 2019, our wholly owned subsidiary, Amer Sports Holding Oy (f/k/a Mascot Midco 1 Oy) (the “Parent Guarantor”), and certain of its subsidiaries, including Amer Sports Holding 1 Oy (f/k/a Mascot Bidco Oy) (“Bidco”) and Mascot Bidco Canada Inc. (“Canada Bidco” and, together with Bidco, the “Borrowers”), entered into a senior facilities agreement with, among others, J.P. Morgan SE (f/k/a J.P. Morgan Europe Limited) as agent and Wilmington Trust (London) Limited as security agent and, on July 17, 2023, such agreement was amended and restated in its entirety (the “Senior Facilities Agreement”). The Senior Facilities Agreement provided for (i) a EUR 315 million senior secured revolving facility (the “Revolving Facility”) and (ii) a EUR 1.7 billion senior secured term loan facility (the “Term Loan Facility” and, together with the Revolving Facility, the “Senior Credit Facilities”). The maturity date of the Revolving Facility and Term Loan Facility was September 29, 2025, and March 29, 2026, respectively. The Senior Credit Facilities were guaranteed by the Parent Guarantor and by certain of the Parent Guarantor’s subsidiaries, and are secured by security granted by the Parent Guarantor and certain of its subsidiaries. On February 16, 2024, we repaid all outstanding borrowings under and terminated the Senior Facilities Agreement.

Loans with Related Parties

On March 26, 2019, Amer Sports Holding (Cayman) Limited (“JVCo”) (as lender) entered into an intercompany loan agreement with our wholly-owned subsidiary, Amer Sports Holding (HK) Limited (“Amer Sports HK”) (as borrower), pursuant to which JVCo advanced to Amer Sports HK a loan with an aggregate principal amount outstanding as of December 31, 2023 of EUR 2.489 billion (“JVCo Loan 1” or “Investment Loan”). On February 28, 2022, Amer Sports, Inc. assumed all obligations under JVCo Loan 1 from Amer Sports HK. Pursuant to a capitalization agreement entered into between us and JVCo, EUR 2.3 billion of JVCo Loan 1 was equitized immediately prior to the completion of our IPO and EUR 125.5 million was set off against certain outstanding liabilities of JVCo, and all remaining borrowings under JVCo Loan 1 were repaid in full in connection with our IPO, such that there were no borrowings outstanding as of June 30, 2024.

On March 26, 2019, JVCo (as lender) entered into an intercompany loan agreement with our wholly-owned subsidiary, Amer Sports HK (as borrower), pursuant to which JVCo advanced to Amer Sports HK a loan with an aggregate principal amount outstanding as of December 31, 2023 of EUR 1.3 billion (“JVCo Loan 2”). On February 28, 2022, Amer Sports, Inc. assumed all obligations under JVCo Loan 2 from Amer Sports HK. JVCo Loan 2 was repaid in full in connection with our IPO, such that there were no borrowings outstanding as of June 30, 2024.

On February 28, 2022, the Co-Invest entered into a loan agreement with us for a loan in an aggregate principal amount outstanding as of December 31, 2023 of EUR 7.1 million (“Co-Invest Loan 1”). Pursuant to a capitalization agreement entered into between us and the Co-Invest, EUR 6.7 million of Co-Invest Loan 1 was equitized immediately prior to the completion of our IPO and all remaining borrowings under Co-Invest Loan 1 were repaid in full in connection with our IPO, such that there were no borrowings outstanding as of June 30, 2024.

On February 28, 2022, the Co-Invest entered into a loan agreement with us for a loan in an aggregate principal amount outstanding as of December 31, 2023 of EUR 3.7 million (“Co-Invest Loan 2”). Co-Invest Loan 2 was repaid in full in connection with our IPO, such that there were no borrowings outstanding as of June 30, 2024.

Collectively, JVCo Loan 2, Co-Invest Loan 1, and Co-Invest Loan 2, are referred to as the Facility A Loan in Note 2, “Related Party Transactions,” to our unaudited consolidated financial statements included as Exhibit 99.2 to the Report on Form 6-K

On May 29, 2020, JVCo (as lender) entered into an intercompany loan agreement with our wholly-owned subsidiary, Amer Sports HK (as borrower), pursuant to which JVCo agreed to make available to Amer Sports HK a loan in a principal amount of up to EUR 400 million (“JVCo Loan 3”). As of October 1, 2022, Amer Sports, Inc. assumed all obligations under JVCo Loan 3 from Amer Sports HK. JVCo Loan 3 was equitized in connection with our IPO.

Off-Balance Sheet Arrangements

We have off-balance sheet arrangements in connection with certain leases and guarantees. Leases not capitalized mainly relate to short term and low value leases for which IFRS 16, Leases offers an exemption from capitalization, while the guarantees include arrangements with third parties related to the divested Precor business.

New Accounting Pronouncements

See Note 2, “Summary of Material Accounting Policies,” to our unaudited consolidated financial statements included as Exhibit 99.2 to the Report on Form 6-K, for details regarding recent accounting pronouncements.

Critical Accounting Policies

See Note 2, “Summary of Material Accounting Policies,” to our audited consolidated financial statements in our Annual Report on Form 20-F. During the six months ended June 30, 2024, there were no significant changes to our critical accounting policies.

Special Note Regarding Forward-Looking Statements

This discussion contains statements that constitute forward-looking statements. Many of the forward-looking statements contained herein can be identified by the use of forward-looking words such as “anticipate,” “believe,” “could,” “expect,” “should,” “plan,” “intend,” “estimate” and “potential,” among others.

Forward-looking statements appear in a number of places herein and include, but are not limited to, statements regarding our intent, belief or current expectations. Forward-looking statements are based on our management’s beliefs and assumptions and on information currently available to our management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including, but not limited to, those identified under the section titled “Item 3. Key Information—D. Risk Factors” in our Annual Report on Form 20-F. These risks and uncertainties include factors relating to:

•the strength of our brands;

•changes in market trends and consumer preferences;

•intense competition that our products, services and experiences face;

•harm to our reputation that could adversely impact our ability to attract and retain consumers and wholesale partners, employees, brand ambassadors, partners, and other stakeholders;

•reliance on technical innovation and high-quality products;

•general economic and business conditions worldwide, including due to inflationary pressures;

•the strength of our relationships with and the financial condition of our third-party suppliers, manufacturers, wholesale partners and consumers;

•ability to expand our DTC channel, including our expansion and success of our owned retail stores and e-commerce platform;

•our plans to innovate, expand our product offerings and successfully implement our growth strategies that may not be successful, and implementation of these plans that may direct divert our operational, managerial and administrative resources;

•our international operations, including any related to political uncertainty and geopolitical tensions;

•our and our wholesale partners’ ability to accurately forecast demand for our products and our ability to manage manufacturing decisions;

•our third-party suppliers, manufacturers and other partners, including their financial stability and our ability to find suitable partners to implement our growth strategy

•the cost of raw materials and our reliance on third-party manufacturers;

•our distribution system and ability to deliver our brands’ products to our wholesale partners and consumers;

•climate change and sustainability or ESG-related matters, or legal, regulatory or market responses thereto;

•changes to trade policies, tariffs, import/export regulations and anti-competition regulations in the United States, EU, PRC and other jurisdictions, or our failure to comply with such regulations;

•ability to obtain approvals from PRC authorities to list or remain listed on the U.S. exchanges and offer securities in the future;

•ability to obtain, maintain, protect and enforce our intellectual property rights in our brands, designs, technologies and proprietary information and processes;

•ability to defend against claims of intellectual property infringement, misappropriation, dilution or other violations made by third parties against us;

•security breaches or other disruptions to our IT systems;

•our reliance on a large number of complex IT systems;

•changes in government regulation and tax matters;

•our ability to remediate our material weakness in our internal control over financial reporting;

•our relationship with ANTA Sports;

•our expectations regarding the time during which we will be a foreign private issuer; and

•other risk factors discussed under “Item 3. Key Information—D. Risk Factors” in our Annual Report on Form 20-F.

Forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update them in light of new information or future developments or to release publicly any revisions to these statements in order to reflect later events or circumstances or to reflect the occurrence of an unanticipated event.

Exhibit 99.2

AMER SPORTS, INC.

UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

January - June 2024


Domicile:			Cayman Islands
Address:			Cricket Square, Hutchins Drive
			P.O. Box 2681
			Grand Cayman KY1-1111
			Cayman Islands
Entity registration number:			358866

UNAUDITED CONDENSED CONSOLIDATED INTERIM STATEMENT OF INCOME AND LOSS AND OTHER COMPREHENSIVE INCOME AND LOSS


		Three months ended June 30,				Six months ended June 30,
In millions (except for (loss)/earnings per share information)	Notes	2024		2023		2024		2023
Revenue	4	$	993.8	$	856.8	$	2,176.7	$	1,907.1
Cost of goods sold		(442.5)		(400.2)		(986.9)		(895.6)
Gross profit		551.3		456.6		1,189.8		1,011.5
Selling, general and administrative expenses		(560.2)		(445.3)		(1,094.4)		(867.7)
Impairment losses		(1.2)		(4.7)		(2.5)		(7.5)
Other operating income		1.6		0.9		7.6		1.6
Operating (loss)/profit		(8.5)		7.5		100.5		137.9

Finance income		2.5		1.8		5.2		3.1
Finance cost		(47.7)		(101.1)		(130.0)		(187.2)
Loss on debt extinguishment		-		-		(14.3)		-
Net finance cost	6	(45.2)		(99.3)		(139.1)		(184.1)

Loss before tax		(53.7)		(91.8)		(38.6)		(46.2)

Income tax benefit/(expense)	7	51.9		(5.2)		43.7		(31.9)

Net (loss)/income		$	(1.8)	$	(97.0)	$	5.1	$	(78.1)

(Loss)/Income attributable to:
Equity holders of the Company		$	(3.7)	$	(96.9)	$	1.4	$	(78.0)
Non-controlling interests		$	1.9	$	(0.1)	$	3.7	$	(0.1)

(Loss)/Earnings per share	18
Basic (loss)/earnings per share		$	(0.01)	$	(0.25)	$	0.00	$	(0.20)
Diluted (loss)/earnings per share		$	(0.01)	$	(0.25)	$	0.00	$	(0.20)

Net (loss)/income		$	(1.8)	$	(97.0)	$	5.1	$	(78.1)

Other comprehensive income and loss (OCI)
Items that will not be reclassified to the statement of income and loss
Remeasurement effects of postemployment benefit plans		(0.3)		(3.0)		(4.2)		(6.1)
Income tax related to remeasurement effects		0.1		0.9		1.1		1.7
Items that subsequently may be reclassified to the statement of income and loss
Translation differences		(21.7)		(11.4)		43.3		(71.2)
Cash flow hedges		2.3		10.1		23.7		3.2
Income tax related to cash flow hedges		(0.4)		(2.0)		(4.7)		(0.6)
Other comprehensive (loss)/income, net of tax		(20.0)		(5.4)		59.2		(73.0)

TOTAL COMPREHENSIVE (LOSS)/INCOME		$	(21.8)	$	(102.4)	$	64.3	$	(151.1)

UNAUDITED CONDENSED CONSOLIDATED INTERIM STATEMENT OF INCOME AND LOSS AND OTHER COMPREHENSIVE INCOME AND LOSS (CONTINUED)


Total comprehensive (loss)/income attributable to:
Equity holders of the Company	$	(23.7)	$	(102.3)	$	60.6	$	(151.0)
Non-controlling interests	$	1.9	$	(0.1)	$	3.7	$	(0.1)

The notes are an integral part of unaudited condensed consolidated interim financial information.

UNAUDITED CONDENSED CONSOLIDATED INTERIM STATEMENT OF FINANCIAL POSITION

ASSETS


In millions	Notes	June 30, 2024		December 31, 2023
NON-CURRENT ASSETS

Intangible assets	8	$	2,700.5	$	2,748.7
Goodwill	8	2,246.3		2,270.0
Property, plant and equipment	9	481.0		441.9
Right-of-use assets		402.9		317.1
Non-current financial assets		9.0		9.2
Other non-current assets		56.7		73.5
Deferred tax assets		155.6		161.7
TOTAL NON-CURRENT ASSETS		6,052.0		6,022.1

CURRENT ASSETS

Inventories	10	1,241.0		1,099.6
Accounts receivable, net		425.5		599.8
Prepaid expenses and other receivables		219.2		162.3
Current tax assets		51.1		6.6
Cash and cash equivalents		255.9		483.4
TOTAL CURRENT ASSETS		2,192.7		2,351.7

TOTAL ASSETS		$	8,244.7	$	8,373.8

UNAUDITED CONDENSED CONSOLIDATED INTERIM STATEMENT OF FINANCIAL POSITION (CONTINUED)

SHAREHOLDERS’ EQUITY (DEFICIT) AND LIABILITIES


In millions	Notes	June 30, 2024		December 31, 2023
EQUITY (DEFICIT)

Share capital	11	$	16.9	$	642.2
Share premium	11	2,133.4		-
Capital reserve	11	2,789.2		227.2
Cash flow hedge reserve	11	8.4		(10.6)
Accumulated deficit and other	11	(941.3)		(1,019.0)
Equity (deficit) attributable to equity holders of the parent company		4,006.6		(160.2)
Non-controlling interests		7.1		3.4
TOTAL EQUITY (DEFICIT)		4,013.7		(156.8)

LIABILITIES

LONG-TERM LIABILITIES
Lease liabilities	12	329.8		250.4
Loans from financial institutions	12	2,013.9		1,863.4
Loans from related parties	12; 16	-		4,077.0
Defined benefit pension liabilities		16.5		23.9
Other long-term liabilities		23.0		29.4
Provisions	14	5.4		5.5
Long-term tax liabilities		11.4		32.1
Deferred tax liabilities		660.2		675.0
TOTAL LONG-TERM LIABILITIES		3,060.2		6,956.7

CURRENT LIABILITIES
Interest-bearing liabilities	12	31.6		381.0
Lease liabilities	12	101.7		89.4
Accounts payable		454.3		426.5
Other current liabilities	13	555.0		567.5
Provisions	14	28.2		29.9
Current tax liabilities		-		79.6
TOTAL CURRENT LIABILITIES		1,170.8		1,573.9

TOTAL LIABILITIES		4,231.0		8,530.6

TOTAL SHAREHOLDERS’ EQUITY (DEFICIT) AND LIABILITIES		$	8,244.7	$	8,373.8

The notes are an integral part of unaudited condensed consolidated interim financial information.

UNAUDITED CONDENSED CONSOLIDATED INTERIM STATEMENT OF CASH FLOWS


		Six months ended June 30,
In millions	Notes	2024		2023
NET CASH FLOW FROM OPERATING ACTIVITIES

Net income/(loss)		$	5.1	$	(78.1)

Adjustments for:
Depreciation and amortization		125.3		104.4
Impairment losses		2.5		7.5
Loss on sale of subsidiary		5.6		-
Share-based payments for equity-settled options		10.1		-
Other non-cash valuation losses		5.2		13.0
Finance income		(5.2)		(3.1)
Finance cost		130.0		187.2
Loss on debt extinguishment		14.3		-
Income tax (benefit)/expense		(43.7)		31.9

Changes in:
Inventories		(167.8)		(321.3)
Trade receivables		157.3		242.1
Prepaid expenses and other receivables		(39.3)		(12.0)
Accounts payables		50.6		(3.8)
Other liabilities		(17.0)		(68.1)
Cash generated from operating activities		233.0		99.7

Interest paid		(84.9)		(110.9)
Interest received		3.9		3.3
Income taxes paid		(85.2)		(59.0)

Total net cash flows from/(used in) operating activities		66.8		(66.9)

NET CASH FLOW FROM INVESTING ACTIVITIES

Proceeds from sale of subsidiary		15.5		-
Acquisition of property, plant and equipment		(106.1)		(51.0)
Acquisition of intangible assets		(21.1)		(4.2)
Proceeds from sale of property, plant and equipment		-		2.4
Acquisition of right-of-use assets		(2.7)		(3.5)
Net cash flow used in investing activities		(114.4)		(56.3)

UNAUDITED CONDENSED CONSOLIDATED INTERIM STATEMENT OF CASH FLOWS (CONTINUED)


NET CASH FLOW FROM FINANCING ACTIVITIES

Proceeds from short-term borrowings from financial institutions	48.4		185.3
Repayments of short-term borrowings from financial institutions	(396.3)		(125.3)
Proceeds from long-term borrowings from financial institutions	2,027.3		-
Repayments of long-term borrowings from financial institutions	(1,831.8)		-
Repayments of long-term borrowings from related parties	(1,460.5)		-
Proceeds from share issuance	1,514.8		-
Payments of lease liabilities	(47.8)		(37.6)
Payments of debt issuance costs	(8.2)		-
Settlements of forward contract and balance sheet hedges	(28.3)		(3.1)
Release of derivative contract collateral	18.1		-
Other financing items	(1.5)		(14.6)
Net cash flow (used in)/from financing activities	(165.8)		4.7

CHANGE IN CASH AND CASH EQUIVALENTS	(213.4)		(118.5)

Cash and cash equivalents
Cash and cash equivalents at period end	255.9		278.5
Translation differences	(14.1)		(5.0)
Cash and cash equivalents at the beginning of the period	483.4		402.0
CHANGE IN CASH AND CASH EQUIVALENTS	$	(213.4)	$	(118.5)

NON-CASH FINANCING ACTIVITIES
Equitization of related party loans and interest	$	2,562.0	$	107.3

The notes are an integral part of unaudited condensed consolidated interim financial information.

UNAUDITED CONDENSED CONSOLIDATED INTERIM STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY (DEFICIT)

Equity attributable to the equity holders of the parent company


In millions	Share capital		Share premium		Capital reserve		Cash flow hedge reserve		Translation differences		Remeasurements		Other reserves		Accumulated deficit		Accumulated deficit and other		Non-controlling interests		Total
Balance at January 1, 2023	$	642.2	-		-		$	(3.1)	$	109.8	$	37.0	$	(10.9)	$	(848.9)	$	(713.0)	-		$	(73.9)
Other comprehensive income:
Translation differences	-		-		-		-		(71.2)		-		-		-		(71.2)		-		(71.2)
Remeasurement effects of postemployment benefit plans	-		-		-		-		-		(6.1)		-		-		(6.1)		-		(6.1)
Cash flow hedges	-		-		-		3.2		-		-		-		-		-		-		3.2
Income tax related to OCI	-		-		-		(0.6)		-		1.7		-		-		1.7		-		1.1
Loss for the period	-		-		-		-		-		-		-		(78.0)		(78.0)		(0.1)		(78.1)
Total comprehensive income/(loss), net of tax	-		-		-		2.6		(71.2)		(4.4)		-		(78.0)		(153.6)		(0.1)		(151.1)
Transactions with owners:
Capital Contribution	-		-		-		-		-		-		-		107.3		107.3		-		107.3
Initial investment from non-controlling owners	-		-		-		-		-		-		-		-		-		3.6		3.6
Balance at June 30, 2023	$	642.2	-		-		$	(0.5)	$	38.6	$	32.6	$	(10.9)	$	(819.6)	$	(759.3)	3.5		$	(114.1)

Balance at January 1, 2024	$	642.2	-		$	227.2	$	(10.6)	$	0.6	$	40.6	$	(2.7)	$	(1,057.5)	$	(1,019.0)	$	3.4	$	(156.8)
Other comprehensive income:
Translation differences	-		-		-		-		43.3		-		-		-		43.3		-		43.3
Remeasurement effects of postemployment benefit plans	-		-		-		-		-		(4.2)		-		-		(4.2)		-		(4.2)
Cash flow hedges	-		-		-		23.7		-		-		-		-		-		-		23.7
Income tax related to OCI	-		-		-		(4.7)		-		1.1		-		-		1.1		-		(3.6)
Income for the period	-		-		-		-		-		-		-		1.4		1.4		3.7		5.1
Total comprehensive income, net of tax	-		-		-		19.0		43.3		(3.1)		-		1.4		41.6		3.7		64.3
Transactions with owners:
Share-based payments	-		-		-		-		-		-		33.6		-		33.6		-		33.6
Income tax related to share-based payments	-		-		-		-		-		-		2.5		-		2.5		-		2.5
Reclassification and share split
Elimination of Class A and B shares	(642.2)		-		-		-		-		-		-		-		-		-		(642.2)
Issuance of ordinary shares before IPO	13.0		629.2		-		-		-		-		-		-		-		-		642.2
Capital increase - IPO	3.9		1,565.8		-		-		-		-		-		-		-		-		1,569.7
IPO related transaction costs	-		(61.6)		-		-		-		-		-		-		-		-		(61.6)
Contribution of related party debt to equity	-		-		2,562.0		-		-		-		-		-		-		-		2,562.0
Balance at June 30, 2024	$	16.9	$	2,133.4	$	2,789.2	$	8.4	$	43.9	$	37.5	$	33.4	$	(1,056.1)	$	(941.3)	$	7.1	$	4,013.7

Note 11. Shareholders' Equity/(Deficit) provides additional information on shareholders’ equity.

The notes are an integral part of unaudited condensed consolidated interim financial information.

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

NOTE 1. THE COMPANY

Background and description of the business

Amer Sports, Inc. (formerly Amer Sports Management Holding (Cayman) Limited) (the “Company”) was founded on January 3, 2020 and is incorporated and domiciled in Grand Cayman, the Cayman Islands. The Company’s registered office is Cricket Square, Hutchins Drive, PO Box 2681, Grand Cayman KY1-1111, Cayman Islands. The Company and its consolidated subsidiaries are referred to as the “Group” or “Amer Sports”.

Amer Sports is a global platform of sport and outdoor brands, including Arc’teryx, Salomon, Wilson, Atomic and Peak Performance. Amer Sports manufactures, markets and sells sports equipment, apparel, and footwear through wholesale and direct to consumer ("DTC") channels globally and has a sales network in 34 countries, with North America, Europe, Asia and China being the main market areas.

On January 31, 2024, the Company completed the initial public offering (“IPO”) of 105,000,000 ordinary shares at an initial offering price of $13.00 and began trading on the New York Stock Exchange under the ticker “AS” on February 1, 2024. The IPO closed on February 5, 2024, raising $1.37 billion in gross proceeds, and the underwriters subsequently exercised a portion of their overallotment option to purchase additional shares of 7,875,000 at the initial offering price of $13.00, raising $102.4 million in additional gross proceeds on February 6, 2024.

On February 8, 2024, the underwriters exercised the remaining portion of the option to purchase additional shares of 7,875,000 at the initial offering price of $13.00, raising an additional $102.4 million in further additional gross proceeds.

Seasonality

Although the Group operates in a number of sporting goods segments during all four seasons, its business is subject to seasonal fluctuations. Historically, the fourth quarter of a financial year has been the strongest quarter for the Group in terms of both net sales and profitability, primarily due to higher sales through the Company’s DTC channel compared to the rest of the year and a higher share of fall and winter collections in the Group’s Technical Apparel and Outdoor Performance segments. The Ball & Racquet Sports segment is generally more consistent across fiscal quarters. Working capital requirements typically increase throughout the second and third fiscal quarters as inventory builds to support the Group’s peak shipping and selling period which typically occurs from August to December. Cash provided by operating activities is typically highest in the first fiscal quarter due to the significant inflows associated with the peak selling season.

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (CONTINUED)

NOTE 2. SUMMARY OF MATERIAL ACCOUNTING POLICIES

Basis of preparation

These unaudited condensed consolidated interim financial statements as of and for the three and six months ended June 30, 2024 have been prepared in accordance with International Accounting Standard (“IAS”) 34 Interim Financial Reporting as issued by the International Accounting Standards Board (“IASB”) as of January 1, 2024.

The interim report does not include all the notes of the type normally included in an annual financial report. Accordingly, this report is to be read in conjunction with the annual report for the year ended December 31, 2023. The accounting policies adopted are consistent with those of the previous financial year and corresponding interim reporting period.

The unaudited condensed consolidated interim financial statements are presented in millions of U.S. dollars (“$” or “USD”). Effective February 1, 2024, management determined that Amer Sports, Inc.’s functional currency changed from euro (“EUR”) to USD, which has been accounted for on a prospective basis. The change in functional currency was driven by the capital structure change of Amer Sports, Inc., due to the IPO, debt refinancing, and related transaction expenses incurred, which were primarily denominated in U.S. dollars. Future equity issuances and cash flows of the Company will be in USD.

The presented figures and percentages are subject to rounding adjustments, which may cause discrepancies between the sum of the individual figures and the presented aggregated column and row totals. The figures have been prepared under the historical cost basis except for the revaluation of financial instruments that are measured at revalued amounts or fair values at the end of each reporting period as well as derivative financial instruments at fair value. The unaudited condensed consolidated interim financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of the business.

New and amended standards and interpretations

The Group has applied the following new and revised standards, amendments and interpretations that are required to be applied as of January 1, 2024:

•IAS 1 (amendment): Classification of Liabilities as Current or Non-current, Non-current liabilities with Covenants - no material impact

•IFRS 16 (amendment): Lease liability in a Sale and Leaseback - no material impact

•IAS 7 and IFRS 7 (amendment): Supplier finance arrangements - no material impact

Significant accounting judgments, estimates, and assumptions

When preparing the unaudited condensed consolidated interim financial statements, the Group’s management makes judgments and estimates influencing the content of the unaudited condensed interim financial statements and it must exercise its judgment regarding the application of accounting policies. Management continuously evaluates the judgments and estimates it uses.

The significant judgments made and the estimates used by management have been applied in the same manner as reported in the consolidated financial statements for the year ended December 31, 2023.

NOTE 3. SEGMENT REPORTING

The Group’s Chief Operating Decision Maker (“CODM”) reviews results of operations to make decisions about allocating resources and assessing performance. Based on the current reporting structures, decision-making processes and considering the aggregation criteria in IFRS 8.12, the Company identified three reportable segments: Technical Apparel, Outdoor Performance and Ball & Racquet Sports.

The Company measures each segment’s performance based on revenue and adjusted operating profit as these are the measures used by the CODM for assessing the performance of operating segments and allocating resources.

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (CONTINUED)

Information on reportable segments

For the three months ended June 30, 2024


In millions	Technical Apparel		Outdoor Performance		Ball & Racquet Sports		Reconciliation5		Group
Revenue	$	407.3	$	304.0	$	282.5	$	-	$	993.8
Depreciation and amortization	$	27.6	$	25.2	$	8.1	$	1.9	$	62.8

Adjusted operating profit/(loss)	$	57.8	$	(6.5)	$	3.2	$	(25.2)	$	29.3
Adjustments
PPA1									(10.7)
Restructuring expenses2									(8.8)

Expenses related to transaction activities3									(12.2)

Expenses related to share-based incentive plans4									(6.1)
Finance cost									(47.7)

Finance income									2.5
Loss before tax									$	(53.7)

1Purchase Price Adjustments ("PPA") include amortization and depreciation on the fair value adjustments of intangible and tangible assets resulting from Amer Sports' acquisition in 2019. For further information, please refer to Note 1. The Company, in the Group’s annual report on Form 20-F for the year ended December 31, 2023.

2Includes expenses for restructuring from severance, exit and termination events, and other non-recurring costs from payroll tax audits.

3Includes advisory fees in connection with M&A activities and non-recurring costs associated with the IPO and disposal of businesses.

4Includes expenses for the share-based payments and for fixed cash compensation on stock options vested at period end under the 2019 and 2023 ESOP plans. Refer to Note 5. Share-Based Payments for additional information about the 2019 and 2023 ESOP plans.

5Includes corporate expenses, which have not been allocated to the reportable segments.

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (CONTINUED)

For the three months ended June 30, 2023


In millions	Technical Apparel		Outdoor Performance		Ball & Racquet Sports		Reconciliation4		Group
Revenue	$	303.0	$	273.6	$	280.2	$	-	$	856.8
Depreciation and amortization	$	20.6	$	23.5	$	6.7	$	1.6	$	52.4

Adjusted operating profit/(loss)	$	39.6	$	(16.2)	$	7.5	$	(10.0)	$	20.9
Adjustments
PPA1									(10.7)
Restructuring expenses2									(0.2)

Expenses related to transaction activities3									(2.5)

Finance cost									(101.1)

Finance income									1.8
Loss before tax									$	(91.8)

1PPA includes amortization and depreciation on the fair value adjustments of intangible and tangible assets resulting from Amer Sports' acquisition in 2019. For further information, please refer to Note 1. The Company, in the Group’s annual report on Form 20-F for the year ended December 31, 2023.

2Includes expenses for restructuring from severance, exit and termination events.

3Includes advisory fees in connection with M&A activities and non-recurring costs associated with the IPO and disposal of businesses.

4Includes corporate expenses, which have not been allocated to the reportable segments.

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (CONTINUED)

For the six months ended June 30, 2024


In millions	Technical Apparel		Outdoor Performance		Ball & Racquet Sports		Reconciliation5		Group
Revenue	$	917.6	$	704.0	$	555.1	$	-	$	2,176.7
Depreciation and amortization	$	55.6	$	50.5	$	15.7	$	3.5	$	125.3

Adjusted operating profit/(loss)	$	175.1	$	12.8	$	14.0	$	(42.9)	$	159.0
Adjustments
PPA1									(21.4)
Restructuring expenses2									(9.7)

Expenses related to transaction activities3									(18.0)

Expenses related to share-based incentive plans4									(9.4)
Finance cost									(130.0)
Loss on debt extinguishment									(14.3)
Finance income									5.2
Loss before tax									$	(38.6)

1PPA include amortization and depreciation on the fair value adjustments of intangible and tangible assets resulting from Amer Sports' acquisition in 2019. For further information, please refer to Note 1. The Company, in the Group’s annual report on Form 20-F for the year ended December 31, 2023.

2Includes expenses for restructuring from severance, exit and termination events, and other non-recurring costs from payroll tax audits.

3Includes advisory fees in connection with M&A activities and non-recurring costs associated with the IPO and disposal of businesses.

5Includes corporate expenses, which have not been allocated to the reportable segments.

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (CONTINUED)

For the six months ended June 30, 2023


In millions	Technical Apparel		Outdoor Performance		Ball & Racquet Sports		Reconciliation4		Group
Revenue	$	658.2	$	651.1	$	597.8	$	-	$	1,907.1
Depreciation and amortization	$	41.1	$	47.2	$	13.0	$	3.1	$	104.4

Adjusted operating profit/(loss)	$	122.7	$	14.9	$	53.3	$	(28.8)	$	162.1
Adjustments
PPA1									(21.4)
Restructuring expenses2									(0.1)

Expenses related to transaction activities3									(2.7)

Finance cost									(187.2)

Finance income									3.1
Loss before tax									$	(46.2)

2Includes expenses for restructuring from severance, exit and termination events.

3Includes advisory fees in connection with M&A activities and non-recurring costs associated with the IPO and disposal of businesses.

4Includes corporate expenses, which have not been allocated to the reportable segments.

The Company does not present other items of the interim consolidated statement of income and loss and other comprehensive income and loss as well as assets and liabilities per segment as such information is not evaluated or used by the CODM for decision-making purposes on a regular basis.

The majority (75.4% and 77.5% as of June 30, 2024 and December 31, 2023, respectively) of non-current assets, comprising of goodwill, other intangible assets, property, plant and equipment as well as right-of-use assets are owned from Finland. No other country is deemed individually material for the Group in all periods presented for the purpose of this disclosure.

NOTE 4. REVENUE FROM CONTRACTS WITH CUSTOMERS

Amer Sports operates primarily in one industry — the design, manufacturing, distribution, selling and marketing of sporting goods, apparel and footwear.

The Group is managed through its global brands supported by regional sales organizations and group wide platforms such as global operations and sourcing, IT and finance.

Amer Sports brands operate in the following key categories:

Technical Apparel, which includes Arc’teryx and Peak Performance.

Outdoor Performance, which includes the Salomon, Atomic, and Armada brands. On May 1, 2024, the Company sold ENVE, which was part of the Outdoor Performance segment. The ENVE business represented less than 1% of the Company’s net revenue and was not considered material to the Company's consolidated results of operations.

Ball & Racquet Sports, which includes Wilson, Demarini, Louisville Slugger, Evoshield, and ATEC.

Geographic revenues are presented according to customers’ location.

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (CONTINUED)

GEOGRAPHIC BREAKDOWN OF REVENUES


	Three months ended June 30,				Six months ended June 30,
In millions	2024		2023		2024		2023
EMEA1	$	231.6	$	230.1	$	590.3	$	587.0
Americas2	367.8		365.9		777.3		775.5
Greater China3	288.6		187.6		598.9		393.2
Asia Pacific4	105.8		73.2		210.2		151.4
Total	$	993.8	$	856.8	$	2,176.7	$	1,907.1

1Consists of Europe, the Middle East and Africa. The revenue generated in this region primarily consists of sales in France, Germany, the UK, Austria, Switzerland, Sweden, Norway, Italy and Spain. No country in the region generated more than 10% of the total Group revenue in any of the periods presented.

2Consists of the United States, Canada and certain countries in Latin America. Revenue generated in the United States comprised 27% and 33% of the total Group revenue for the three months ended June 30, 2024 and 2023, respectively, and 27% and 32% of the total Group revenue for the six months ended June 30, 2024 and 2023, respectively. Except for the United States, no country in the region generated more than 10% of the total Group revenue in any of the periods presented.

3Consists of Mainland China, Hong Kong, Taiwan and Macau. Revenue generated in Mainland China comprised 28% and 21% of the total Group revenue for the three months ended June 30, 2024 and 2023, respectively, and 26% and 19% of the total Group revenue for the six months ended June 30, 2024 and 2023, respectively. Except for Mainland China, no country in the region generated more than 10% of the total Group revenue in any of the periods presented.

4Excludes Greater China. The Company has its own sales companies in Japan, South Korea, Australia and Malaysia. No country in the region generated more than 10% of the total Group revenue in any of the periods presented.

BREAKDOWN OF REVENUES BY SEGMENT


	Three months ended June 30,				Six months ended June 30,
In millions	2024		2023		2024		2023
Technical Apparel	$	407.3	$	303.0	$	917.6	$	658.2
Outdoor Performance	304.0		273.6		704.0		651.1
Ball & Racquet Sports	282.5		280.2		555.1		597.8
Total	$	993.8	$	856.8	$	2,176.7	$	1,907.1

BREAKDOWN OF REVENUES BY CHANNEL


	Three months ended June 30,				Six months ended June 30,
In millions	2024		2023		2024		2023
Wholesale	$	544.5	$	535.8	$	1,239.0	$	1,238.6
DTC	449.3		321.0		937.7		668.5
Total	$	993.8	$	856.8	$	2,176.7	$	1,907.1

The Company did not recognize 10% or more of total revenue with any single customer in any of the periods presented.

CONTRACT BALANCES

Contract liabilities amounted to $25.0 million as of June 30, 2024 and December 31, 2023, and primarily relate to advance payments received as well as accrued discounts and rebates. The Company expects that these contract liabilities will result in revenue within one year.

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (CONTINUED)

NOTE 5. SHARE-BASED PAYMENTS

Employee Stock Ownership Plan 2019 and Employee Stock Ownership Plan 2023

The objectives of the Employee Stock Ownership Plan 2019 (“2019 ESOP”) and the Employee Stock Ownership Plan 2023 (“2023 ESOP”) are to align the interest of the shareholders and key employees in order to increase the value of the Company in the long-term, and to commit key employees to the Company. The 2019 ESOP and 2023 ESOP provide for awards in the form of stock options to the Group’s key employees, and it is an equity-settled arrangement.

The maximum number of options under the 2019 ESOP and 2023 ESOP that may be granted is 3.0% and 1.2% respectively of all of the Company’s issued and outstanding shares.

Subject to a participant’s continued employment, options granted under the 2019 ESOP and 2023 ESOP will vest upon satisfaction of vesting conditions set out in an award agreement and an exit event (a public offering of the shares of the Company or a sale of a controlling majority of the shares in the Company or Amer Sports Corporation or any of its holding companies or the sale of the majority of the business assets of the Group) (the “exit event”).

In addition to an exit event, 35% of the options granted are time-vested, which vest evenly on an annual basis over 3 to 5 years, 65% of the options granted are with Group and/or brand performances.

The vesting of the options is subject to an exit event, which is a non-market performance condition. Share-based payment expenses for equity-settled awards and cash-settled awards have been recognized for the year ended December 31, 2023, as management deemed the public offering of the shares of the Company probable as of December 28, 2023. The expenses were booked against Other reserves for the equity-settled awards and against Other liabilities for the cash-settled awards, which reflected the vesting through the date the awards became probable of being earned.

Prior to the vesting of the option awards under the 2019 ESOP and 2023 ESOP plans, the Company made modification of the terms of the awards.

On December 28, 2023, the Company modified certain stock options under the 2019 ESOP and 2023 ESOP plans to increase the exercise price, with cash compensation payable upon vesting. For cash-settled awards, the modified terms have been reflected in the remeasurement of the liability as of December 31, 2023. On January 4, 2024, the exercise price currency of all options was converted from EUR to USD. On January 22, 2024, the Company removed the choice of settlement between cash and equity for certain employees. Thus, those options will be settled in equity instruments of the Company. On January 29, 2024, certain options granted with Group performance vesting conditions were modified to lower the threshold for vesting of certain options upon IPO.

The incremental fair value of the modified options at the dates of the modifications was determined based on a Monte Carlo simulation model. For equity-settled awards, the incremental compensation cost will be recognized as an expense over the remaining vesting period, starting from the modification date. For cash-settled awards, the modified terms have been reflected in the remeasurement of the liability as of June 30, 2024.

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (CONTINUED)

2019 ESOP:

The following table summarizes the activity of share options under the 2019 ESOP during the six months ended June 30, 2024.


	Number of options	Weighted average exercise price
Outstanding at January 1, 2024	11,499,819	$	9.40
Granted during the year	-	$	—
Forfeited during the year	(491,955)	$	10.74
Exercised during the year	-	$	—

Outstanding at June 30, 2024	11,007,864	$	9.34
Exercisable at June 30, 2024	—	—

The options outstanding had a remaining weighted average contractual life of 5.5 years and 6.0 years at June 30, 2024 and December 31, 2023, respectively.

2023 ESOP:

The following table summarizes the activity of share options under the 2023 ESOP during the six months ended June 30, 2024.


	Number of options	Weighted average exercise price
Outstanding at January 1, 2024	3,411,636	$	11.68
Granted during the year	-	$	—
Forfeited during the year	(25,887)	$	10.47
Exercised during the year	-	$	—

Outstanding at June 30, 2024	3,385,749	$	11.69
Exercisable at June 30, 2024	—	—

The options outstanding had a remaining weighted average contractual life of 5.5 years and 6.0 years at June 30, 2024 and December 31, 2023, respectively.

Fair value of options granted

The fair value of the options has been measured using a Monte Carlo simulation model. Service and non-market performance conditions attached to the options were not taken into account in measuring fair value. The market performance condition was taken into account in measuring fair value. Equity-settled awards are measured on the grant date while cash-settled awards are remeasured until settlement.

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (CONTINUED)

The inputs used in the measurement of the fair values of equity-settled awards at the respective modification dates and the re-measurement of the fair values of cash-settled awards at the period end dates were as follows:


2019 ESOP:	Equity-settled awards Fair value at re-measurement dates:	Cash settled awards remeasured fair value at June 30, 2024
Cash compensation payable of group performance based options	N/A	$0.22 - $4.92
Fair value of underlying share at re-measurement dates	$13.00 - $18.94	N/A
Exercise price	$7.70 - $12.63	N/A
Expected volatility	39.8% - 44.4%	42.2%
Expected life	1.03 - 5.19 years	0.09 - 1.75 years
Expected dividends	0%	0%
Risk-free interest rate	4.0% - 4.8%	4.6%

2023 ESOP:

Equity-settled awards

Fair value at
re-measurement dates:

Cash settled awards remeasured fair value at
June 30, 2024

Cash compensation payable of group performance based options

N/A

$0.23 - $3.69

Fair value of underlying share at re-measurement dates

$13.00 - $18.94

N/A

Exercise price

$7.70 - $14.19

N/A

Expected volatility

39.8% - 43.6%

42.2%

Expected life

1.03 - 3.61 years

0.09 - 1.75 years

Expected dividends

Risk-free interest rate

4.1% - 4.8%

4.6%

Expected volatility has been based on the historical volatility of the comparable companies’ share price, particularly over the historical period commensurate with the expected life of the options.

Amer Sports, Inc. 2024 Omnibus Incentive Plan

On January 31, 2024, the Board approved the Amer Sports, Inc. 2024 Omnibus Incentive Plan (the “Omnibus Incentive Plan”) which provides for restricted share units (“RSU”) including incentive stock options, nonqualified stock options, share appreciation rights, restricted shares, restricted share units, performance awards, other cash-based awards and other share-based awards. Under the Omnibus Incentive Plan, the Company is authorized to issue up to 38,759,968 shares.

The Company made grants of restricted share units that generally vest ratably over a period of three years, subject to continued employment of the recipients. The Company also made grants of performance share units ("PSUs"), which generally vest at the end of a three-year period, subject to continued employment and the achievement of certain revenue and Adjusted EBITDA targets.

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (CONTINUED)

The following table summarizes the activity in restricted share units and performance share units for employees and non-employee directors during the six months ended June 30, 2024.


	Restricted Share Units			Performance Share Units
	Number of units	Weighted Average Grant Date Fair Value		Number of units	Weighted Average Grant Date Fair Value
Outstanding at January 1, 2024	-	$	-	-	$	-
Granted during the year	1,090,627	$	13.63	1,993,174	$	14.56
Vested during the year	-	$	-	-	$	-
Forfeited during the year	(5,668)	$	13.64	(6,299)	$	14.55

Outstanding at June 30, 2024	1,084,959	$	13.63	1,986,875	$	14.56

The Company recorded expenses amounting to $3.9 million for the six months ended June 30, 2024 for RSUs and PSUs granted under the Omnibus Incentive Plan.

NOTE 6. FINANCE INCOME AND COST


	Three months ended June 30,				Six months ended June 30,
In millions	2024		2023		2024		2023
Finance income	$	2.5	$	1.8	$	5.2	$	3.1

Finance cost
Interest cost to related parties	-		(58.3)		(21.8)		(107.1)
Interest cost on other interest bearing debt	(42.6)		(39.3)		(89.1)		(74.1)
Exchange rate losses	(0.9)		(1.3)		(12.6)		(1.3)
Other finance cost	(4.2)		(2.2)		(6.5)		(4.7)
	(47.7)		(101.1)		(130.0)		(187.2)

Loss on debt extinguishment	-		-		(14.3)		-
Net finance cost	$	(45.2)	$	(99.3)	$	(139.1)	$	(184.1)

By February 16, 2024, all remaining borrowings under the old term loan facility under the Senior Facilities Agreement with a carrying value of $1.86 billion as of December 31, 2023 and the remaining borrowings from the bilateral facility with Standard Chartered and the old revolving credit facility under the Senior Facilities Agreement with a carrying value in the amount of $90 million and $291 million, respectively, as of December 31, 2023 were repaid. As a result of the repayment, the Company recorded a loss on the early extinguishment of debt of $14.3 million for the six months ended June 30, 2024.

Exchange rate losses for the six months ended June 30, 2024 includes approximately $18.0 million of losses related to contract costs incurred in association with our IPO.

NOTE 7. INCOME TAXES

In accordance with IAS 34 Interim Financial Reporting, income tax expense for the condensed consolidated interim financial statements is calculated on the basis of the average annual tax rate that is expected for the entire fiscal year, adjusted for the tax effect of certain items recognized in the full interim period. As such, the effective tax rate in the consolidated interim financial statements may differ from management’s best estimate of the effective rate.

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (CONTINUED)

The effective tax rate was 113% and (69)% for the six months ended June 30, 2024 and 2023, respectively. The six months ended June 30, 2024, included a discrete tax benefit of $19.9 million due to the reversal of uncertain tax positions as a result of the closure of tax audits and expiration of statute of limitations, which was partially offset by an unfavorable return to provision adjustment of $11.8 million. The effective tax rate of (69)% for the the six months ended June 30, 2023, is due to high non-deductible interest expenses.

The Organization for Economic Co-operation and Development Pillar Two guidelines published to date include transition and safe harbor rules around the implementation of the Pillar Two global minimum tax of 15%. Based on current enacted legislation effective in 2024, the legislation does not have a material impact on the Group’s financial results. The Company is monitoring developments and evaluating the impacts these new rules will have on its future income tax provision and effective income tax rate.

NOTE 8. INTANGIBLE ASSETS

During the three and six months ended June 30, 2024, there were no significant additions, disposals or impairments of intangible assets.

Impairment review

Impairment tests of goodwill and intangible assets with indefinite useful lives, such as trademarks, are performed when management has identified indications of impairment or once a year when business plans for the next strategic planning horizon are approved by management.

Goodwill is monitored by management at Cash Generating Unit (“CGU”) level, the level at which it and other intangible assets with indefinite lives are tested for impairment. The CGUs in the Group are the following: Winter Sports Equipment, Salomon, Arc’teryx, Ball & Racquet Sports, and Peak Performance.

Management has considered whether any impairment indicators existed at the reporting date, and has concluded that the carrying amounts of goodwill and intangible assets with indefinite useful lives are fully recoverable as of June 30, 2024.

NOTE 9. PROPERTY, PLANT AND EQUIPMENT


In millions	Land		Buildings and constructions		Machinery and equipment		Advances paid and construction in progress		Property, plant and equipment
Initial cost at January 1, 2024	$	35.9	$	374.9	$	457.0	$	74.9	$	942.7
Additions	-		19.5		13.0		60.2		92.7
Disposal of subsidiary	-		-		(6.7)		(0.4)		(7.1)
Disposals	-		(11.0)		(5.9)		-		(16.9)
Transfers	-		41.9		13.8		(55.7)		-
Translation differences	(0.9)		(9.7)		(13.1)		(2.0)		(25.7)
Balance at June 30, 2024	$	35.0	$	415.6	$	458.1	$	77.0	$	985.7
Accumulated depreciation and impairment losses at January 1, 2024	-		201.1		299.7		-		500.8
Depreciation during the period	-		18.6		20.6		-		39.2
Disposal of subsidiary	-		-		(4.3)		-		(4.3)
Disposals	-		(11.0)		(5.9)		-		(16.9)
Transfers	-		-		-		-		-
Translation differences	-		(5.0)		(9.1)		-		(14.1)
Balance at June 30, 2024	-		203.7		301.0		-		504.7
Balance at June 30, 2024	$	35.0	$	211.9	$	157.1	$	77.0	$	481.0

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (CONTINUED)

NOTE 10. VALUATION PROVISIONS OF INVENTORIES

Gross and net inventories


In millions	June 30, 2024		December 31, 2023
Gross inventories	$	1,275.7	$	1,129.0
Net realizable value valuation provision	(34.7)		(29.4)
Net inventories	$	1,241.0	$	1,099.6


In millions	June 30, 2024		December 31, 2023
Net inventories
Raw materials and consumables	$	39.3	$	45.0
Work in progress	38.2		48.7
Finished goods	1,163.5		1,005.9
Total	$	1,241.0	$	1,099.6

NOTE 11. SHAREHOLDERS’ EQUITY/(DEFICIT)

The authorized share capital of the Company is EUR 75,000,000 divided into 2,495,175,000 shares of a nominal or par value of EUR 0.0300580119630888 each. As of June 30, 2024 there were 505,249,607 ordinary shares outstanding, amounting to share capital of $16.9 million. As of December 31, 2023 there were 115,220,745 A shares and 352,193 B shares outstanding, amounting to share capital of $642.2 million.

Immediately prior to the completion of the IPO, the Company (i) redesignated and reclassified each of the issued and outstanding class A voting shares and each of the issued and outstanding class B non-voting shares into a single class of ordinary shares, each entitled to one vote per share (collectively, the “Reclassification”) and (ii) effected a 3.3269-for-1 share split of its ordinary shares (the “Share Split”). Following the Reclassification and the Share Split, but before giving effect to the IPO, the Company had 384,499,607 ordinary shares issued and outstanding. After giving effect to the IPO, the Company has 505,249,607 ordinary shares issued and outstanding.

In addition to the Reclassification and the Share Split, the Company equitized a portion of Loans from related parties (comprised of the Investment Loan and Facility A Loan) in the amount of $2.54 billion (the “Equitization”), which resulted in an increase of Capital reserve. The Equitization is accounted for as a capital contribution.

In connection with the IPO, the Company eliminated the line item Reserves and instead introduced the Share premium, Capital reserve and Cash flow hedge reserve line items to be presented on the face of the consolidated statement of financial position. Certain amounts have been reclassified as of December 31, 2023 to conform to the current presentation. Share premium reflects the amount of IPO proceeds exceeding the par value. Capital reserve reflects the Equitization and suspension of interest relating to the Loans from related parties. Management believes that this presentation improves comparability to peers and investors’ understanding of the financial impact resulting from the IPO and the Equitization.

NOTE 12. INTEREST-BEARING LIABILITIES


In millions	Consolidated statement of financial position value June 30, 2024		Nominal interest rates
Loans from financial institutions	$	2,018.9	Long term 6.75% - 8.58% Short term 8.58%

Lease liabilities	431.5		5.56	%
Other interest-bearing liabilities	26.7		5.53	%
Total	$	2,477.1

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (CONTINUED)


In millions	Consolidated statement of financial position value December 31, 2023		Nominal interest rates
Loans from financial institutions	$	2,154.4	Long term 7.65%, Short term 6.68% - 8.10%
Loans from related parties	4,077.0		5.68%, 8.20%
Lease liabilities	339.8		5.24	%
Other interest-bearing liabilities	90.0		7.86	%
Total	$	6,661.2

On February 16, 2024, the Company entered into a new credit agreement providing for (i) a new 7-year $500 million term loan facility, (ii) a new 7-year EUR 700 million term loan facility and (iii) a new $710 million 5-year revolving credit facility (together, the “New Senior Secured Credit Facilities”). The Company also issued $800 million of 6.750% new senior secured notes on the same day. As of June 30, 2024, no amounts were borrowed on the Revolving Credit Facility.

The net proceeds of the IPO, together with the net proceeds from the $500 million term loan facility, the EUR 700 million term loan facility and the $800 million notes issuance and additional cash on hands were used to repay (i) all remaining borrowings under the old term loan facility under the Senior Facilities Agreement with a carrying value of $1.86 billion as of December 31, 2023 (recorded within Loans from financial institutions), (ii) the remaining borrowings from Loans from related parties after the Equitization as well as (iii) the remaining borrowings from the bilateral facility with Standard Chartered and the old revolving credit facility under the Senior Facilities Agreement with a carrying value in the amount of $90.0 million and $291.0 million, respectively, as of December 31, 2023 (both recorded within current interest-bearing liabilities).

NOTE 13. OTHER LIABILITIES

Other current liabilities


In millions	June 30, 2024		December 31, 2023
Related to financing activities:
Accrued interest	$	33.1	$	33.0
Payables related to derivatives	10.3		31.2
Related to operating and other activities:
Liabilities for share-based payments	2.3		18.5
Accrued personnel costs	156.3		148.0
Accrued advertising and promotions	51.4		57.3
Refund liabilities	31.7		35.5
Value-added taxes	33.3		25.7
Goods received not invoiced	31.4		25.7
Contract liabilities	25.0		25.0
Accrued royalties	8.4		8.5
Other accrued liabilities	171.8		159.2
Total	$	555.0	$	567.5

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (CONTINUED)

NOTE 14. PROVISIONS


In millions	Product warranty		Restructuring		Other		Total
Balance at January 1, 2024	$	24.2	$	2.2	$	9.0	$	35.4
Translation differences	(0.6)		-		(0.6)		(1.2)
Provisions made during the period	2.6		7.9		0.4		10.9
Provisions used during the period	(2.8)		(7.7)		(0.4)		(10.9)
Provisions reversed during the period	(0.6)		-		-		(0.6)
Balance at June 30, 2024	$	22.8	$	2.4	$	8.4	$	33.6

Long-term provisions							$	5.4
Current provisions							28.2
Total							$	33.6

The majority of the provisions resulted from repair or replacement of products during their warranty period. The majority of warranty provisions are realized within one year.

NOTE 15. COMMITMENTS


In millions	June 30, 2024		December 31, 2023
Guarantees	$	20.1	$	15.7
Other commitments	320.6		210.7

Other commitments primarily consist of lease contracts for short-term leased assets and for low value assets, commitments related to long-term endorsement contracts with professional and non-professional sports leagues, certain short-term contracts, and contracts with brand ambassadors.

There are no guarantees or contingencies given for the management of the Group, for the shareholders, or for the associated companies.

Ongoing litigation

The Group has extensive international operations and is involved in a number of legal proceedings, including product liability suits. Litigation is assessed on an ongoing basis by evaluating the probability of any potential financial impact. In management's opinion, we have adequate legal defenses, insurance coverage, or accrued liabilities with respect to such proceedings. We do not expect that any settlement would have a material adverse effect on the consolidated interim statement of income and loss and other comprehensive income or loss or consolidated interim statement of financial position.

NOTE 16. RELATED PARTY TRANSACTIONS

The scope of related parties is consistent with those that were defined in the most recent Group’s annual report on Form 20-F, except that subsequent to the IPO, Amer Sports Management Company (Cayman) Limited, the Boards of Directors of Amer Sports Holding (Cayman) Limited and Amer Sports Holding 3 Oy, and the President and CEO of Amer Sports Corporation are no longer related parties.

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (CONTINUED)

The Company's transactions with ANTA Sports comprise the following:


	Three months ended June 30,				Six months ended June 30,
In millions	2024		2023		2024		2023
Purchases of goods and services from ANTA Sports and subsidiaries	$	11.0	$	6.5	$	12.9	$	12.8
Sales to ANTA Sports and subsidiaries	8.4		0.2		10.8		0.2

Sales to ANTA Sports are based on the same conditions that apply to third parties.

Key management includes the Board of Directors of Amer Sports, Inc., the Executive Committee, and the Executive Board.

Key management prior to the IPO also included the Board of Directors of Amer Sports Holding 3 Oy.

Compensation to key management recognized in earnings:


	Three months ended June 30,				Six months ended June 30,
In millions	2024		2023		2024		2023
Salaries and other short-term employee benefits	$	5.1	$	3.4	$	11.7	$	6.4
Post-employment benefits	0.1		0.1		0.3		0.3
Expenses related to share-based incentive plans1	5.9		-		13.6		-
Other long-term benefits	-		-		0.1		0.1
Total	$	11.1	$	3.5	$	25.7	$	6.8

1Includes expenses for the share-based payments and for fixed cash compensation on stock options vested at period end.

Remuneration of $0.1 million was paid to the Board of Directors for the three and six months ended June 30, 2024. No payments were made to the Board of Directors for the three and six months ended June 30, 2023. Members of the Board of Directors do not have contractual retirement benefits with the Company, while certain members of the Board of Directors are participants to the Company’s Omnibus Incentive Plan.

The Company was granted the following long-term loans from the parent company Amer Sports Holding (Cayman) Limited:


In millions	June 30, 2024		December 31, 2023
Long-term loans from the parent company:
Investment Loan	$	-	$	2,641.0
Facility A Loan	-		1,436.5
Total	$	-	$	4,077.5

At the Group level, the loan was netted by upfront fees related to the aforementioned loan.

	Three months ended June 30,				Six months ended June 30,
In millions	2024		2023		2024		2023
Interest expenses to the parent company:
Investment Loan	$	-	$	52.9	$	19.1	$	97.1
Facility A Loan	-		5.4		2.5		10.0
Total	$	-	$	58.3	$	21.6	$	107.1

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (CONTINUED)

The Investment Loan was an unsecured loan from Amer Sports Holding (Cayman) Limited. Borrowings thereunder accrued interest at a rate equal to the percentage rate per annum which was the aggregate of the applicable margin of 4.00%, 4.25% or 4.50%, depending on the current leverage ratio, and EURIBOR for any loans in EUR, plus 0.25%. Approximately EUR 2.3 billion of this loan was equitized immediately prior to the completion of the Company's IPO and EUR 125.5 million was set off against certain outstanding liabilities of Amer Sports Holding (Cayman) Limited, and all remaining liabilities were repaid in full in connection with the Company's IPO.

The Facility A Loan was an unsecured loan from Amer Sports Holding (Cayman) Limited. Borrowings thereunder accrued interest at a rate equal to the percentage rate per annum which was the aggregate of the applicable margin of 2.00% or 1.75%, depending on the current leverage ratio, and EURIBOR, plus a margin to be determined from time to time. The Facility A Loan was repaid on February 6, 2024.

For the Investment Loan and Facility A Loan, the accrual of interest under both loans was suspended subsequent to December 31, 2022 in contemplation of the IPO and the related Equitization. The suspension of interest as well as the Equitization were accounted for as capital contributions. Refer to Note 11. Shareholders' Equity/(Deficit) for further details on the Equitization.

The following balances are outstanding at the end of the respective reporting periods in relation to transactions with related parties (except for the long-term loan from the parent company mentioned above):


In millions	June 30, 2024		December 31, 2023
ANTA Sports and subsidiaries
Current payables (purchases of goods and services)	$	7.6	$	6.3
Current receivables (sales of goods)	6.3		-
Amer Sports Holding (Cayman) Limited
Accounts receivable, net	-		18.0
Other receivables	-		13.3
Key management personnel
Provisions short and long-term incentive	11.2		17.9
Amer Sports Management Company (Cayman) Limited
Loans from related parties taken in 2022	-		11.9
Interest expenses	-		0.8
Low Tide Properties Ltd.
Right-of-use asset / Lease liability	0.8		0.9

Current payables to and receivables from ANTA Sports have a short term maturity, are interest free and not secured.

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (CONTINUED)

NOTE 17. BALANCE SHEET VALUES OF FINANCIAL ASSETS AND LIABILITIES BY MEASUREMENT CATEGORIES


June 30, 2024	Financial assets/ liabilities at fair value through profit and loss		Derivative financial instruments used in cash flow hedge accounting		Financial assets/ liabilities measured at amortized cost		Financial assets at fair value through OCI		Carrying amount by balance sheet item

In millions
NON-CURRENT FINANCIAL ASSETS
Other non-current financial assets	$	-	$	-	$	52.8	$	9.0	$	61.8
Derivative financial instruments1
Foreign exchange derivatives	3.8		0.1		-		-		3.9


CURRENT FINANCIAL ASSETS
Hold-to-collect accounts receivable	-		-		387.8		-		387.8
Available-for-sale factoring receivables	-		-		-		37.7		37.7
Other non-interest yielding receivables2	-		-		148.5		-		148.5
Promissory notes2	-		-		-		2.9		2.9
Derivative financial instruments1
Foreign exchange derivatives	4.7		16.0		-		-		20.7
Interest rate derivatives	-		-		-		-		-
Cash and cash equivalents	-		-		255.9		-		255.9

Balance by category at June 30, 2024	$	8.5	$	16.1	$	845.0	$	49.6	$	919.2

LONG-TERM FINANCIAL LIABILITIES
Long-term interest-bearing liabilities	$	-	$	-	$	2,013.9	$	-	$	2,013.9
Long-term lease liabilities	-		-		329.8		-		329.8
Other long-term liabilities	-		-		21.7		-		21.7
Derivative financial instruments1
Foreign exchange derivatives	-		0.1		-		-		0.1
Interest rate derivatives	-		1.2		-		-		1.2

CURRENT FINANCIAL LIABILITIES
Current interest-bearing liabilities	-		-		31.6		-		31.6
Current lease liabilities	-		-		101.7		-		101.7
Accounts payable	-		-		454.3		-		454.3
Other current liabilities3	-		-		502.2		-		502.2
Derivative financial instruments1
Foreign exchange derivatives	2.8		6.7		-		-		9.5
Interest rate derivatives	-		0.7		-		-		0.7

Balance by category at June 30, 2024	$	2.8	$	8.7	$	3,455.2	$	-	$	3,466.7

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (CONTINUED)


December 31, 2023	Financial assets/ liabilities at fair value through profit and loss		Derivative financial instruments used in cash flow hedge accounting		Financial assets/ liabilities measured at amortized cost		Financial assets at fair value through OCI		Carrying amount by balance sheet item

In millions
NON-CURRENT FINANCIAL ASSETS
Other non-current financial assets	$	-	$	-	$	70.2	$	9.2	$	79.4
Derivative financial instruments1
Interest rate derivatives	3.3		-		-		-		3.3

CURRENT FINANCIAL ASSETS
Hold-to-collect accounts receivable	-		-		597.2		-		597.2
Available-for-sale factoring receivables	-		-		-		2.6		2.6
Other non-interest yielding receivables2	-		-		118.0		-		118.0
Promissory notes2	-		-		-		6.8		6.8
Derivative financial instruments1
Foreign exchange derivatives	3.9		8.5		-		-		12.5
Interest rate derivatives	-		0.8		-		-		0.8
Cash and cash equivalents	-		-		483.4		-		483.4

Balance by category at December 31, 2023	$	7.2	$	9.3	$	1,268.8	$	18.6	$	1,303.9

LONG-TERM FINANCIAL LIABILITIES
Long-term interest-bearing liabilities	$	-	$	-	$	5,940.4	$	-	$	5,940.4
Long-term lease liabilities	-		-		250.4		-		250.4
Other long-term liabilities	-		-		27.6		-		27.6
Derivative financial instruments1
Foreign exchange derivatives	-		1.8		-		-		1.8

CURRENT FINANCIAL LIABILITIES
Current interest-bearing liabilities	-		-		381.0		-		381.0
Current lease liabilities	-		-		89.4		-		89.4
Accounts payable	-		-		426.5		-		426.5
Other current liabilities3	-		-		507.8		-		507.8
Derivative financial instruments1
Foreign exchange derivatives	9.6		21.2		-		-		30.8
Interest rate derivatives	-		0.4		-		-		0.4

Balance by category at December 31, 2023	$	9.6	$	23.4	$	7,623.1	$	-	$	7,656.1

1The values as per the consolidated interim statement of financial position of the derivatives have been recorded as they are disclosed in the Group’s consolidated statement of financial position and fair value reserve, and therefore cannot be reconciled with their actual fair values.

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (CONTINUED)


In millions	June 30, 2024		December 31, 2023
2 Other non-interest yielding receivables
Prepaid expenses and other receivables	$	219.2	$	162.3
Less
Other tax receivables	47.1		24.3
Derivative financial instruments	20.7		13.2
Promissory notes	2.9		6.8
Total other non-interest yielding receivables	$	148.5	$	118.0


3 Other current liabilities	$	555.0	$	567.5
Less
Other tax liabilities	42.5		28.5
Derivative financial instruments	10.3		31.2
Total other current liabilities	$	502.2	$	507.8

The following table presents the Group’s financial assets and liabilities that are measured at fair value at June 30, 2024:


	Level 1		Level 2		Level 3		Total
Assets
Financial assets at fair value through profit or loss	$	-	$	8.5	$	-	$	8.5
Derivative financial instruments used in hedge accounting	-		16.1		-		16.1
Other non-current financial assets at fair value through OCI	-		-		49.6		49.6
Total	$	-	$	24.6	$	49.6	$	74.2

Liabilities
Financial liabilities at fair value through profit or loss	$	-	$	2.8	$	-	$	2.8
Derivative financial instruments used in hedge accounting	-		8.7		-		8.7
Total	$	-	$	11.5	$	-	$	11.5

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (CONTINUED)

The following table presents the Group’s financial assets and liabilities that are measured at fair value at December 31, 2023:


	Level 1		Level 2		Level 3		Total
Assets
Financial assets at fair value through profit or loss	$	-	$	7.2	$	-	$	7.2
Derivative financial instruments used in hedge accounting	-		9.3		-		9.3
Other non-current financial assets at fair value through OCI	-		-		18.6		18.6
Total	$	-	$	16.5	$	18.6	$	35.1

Liabilities
Financial liabilities at fair value through profit or loss	$	-	$	9.6	$	-	$	9.6
Derivative financial instruments used in hedge accounting	-		23.4		-		23.4
Total	$	-	$	33.0	$	-	$	33.0

Carrying amounts of current financial instruments carried at amortized cost are reasonable approximation of fair value due to their short-term nature. As of June 30, 2024, the fair value of the Company’s loans from financial institutions, which are recorded at amortized cost, was $2,066.1 million compared to a carrying value of $2,048.1 million.

Level 1: The fair value of financial instruments traded in active markets is based on quoted market prices at the end of the reporting period. The Group does not have any financial instrument included in Level 1.

Level 2: The fair value of financial instruments that are not traded in an active market (e.g. over-the-counter derivatives) is determined using valuation techniques that maximize the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in Level 2.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in Level 3. This is the case for unlisted equity securities.

The Group’s policy is to recognize transfers into and out of fair value hierarchy levels as at the end of the reporting period. There were no transfers between Levels 2 and 3 for recurring fair value measurements during the reporting period.

The valuation process and valuation techniques, which are stated in the most recent consolidated annual financial statements, are applicable in the reporting period.

Specific valuation techniques used to value financial instruments include:

•for interest rate swaps – the present value of the estimated future cash flows based on observable yield curves

•for foreign currency forwards – the present value of future cash flows based on the forward exchange rates at the consolidated statement of financial position, and

•for other financial instruments – discounted cash flow analysis.

All of the resulting fair value estimates are included in Level 2, except for unlisted equity securities, promissory notes and available-for-sale factoring receivables, where the fair values have been determined based on present values and the discount rates used were adjusted for counterparty or own credit risk. In cases where credit risk of counterparty is low and maturity is short-term, the carrying amount of such instrument approximates its fair value.

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (CONTINUED)

The following table shows the valuation technique used in measuring Level 3 fair values for financial instruments in the unaudited condensed consolidated interim statement of financial position, as well as the significant unobservable inputs used.


Type	Valuation technique	Significant unobservable input
Unlisted equity securities	Market comparison approach: fair value of unlisted equity securities is determined by reference to market multiples of comparable listed companies, adjusted by discount for lack of marketability.	(i) Sales growth factor (ii) Risk-adjusted discount rate

Promissory notes	The carrying amount approximates fair value due to the short-term maturity of these instruments and low credit risk of counterparty.	The carrying amount approximates fair value due to the short-term maturity of these instruments and low credit risk of counterparty.

Available-for-sale factoring receivables	The carrying amount approximates fair value due to the short-term maturity of these instruments and low credit risk of counterparty.	The carrying amount approximates fair value due to the short-term maturity of these instruments and low credit risk of counterparty.

The following table presents the changes in Level 3 items during the period:


In millions	Unlisted equity securities		Promissory notes		Available-for-sale factoring receivables		Total
Opening balance January 1, 2024	$	9.2	$	6.8	$	2.6	$	18.6
Additions	-		2.9		37.7		40.6
Disposals	-		(6.8)		(2.6)		(9.4)
Losses recognized in OCI	(0.2)		-		-		(0.2)
Losses recognized in the consolidated statement of income and loss*	-		-		-		-
Closing balance June 30, 2024	$	9.0	$	2.9	$	37.7	$	49.6

*Gains or (losses) are recognized in financing costs. The amount includes unrealized gains or (losses) recognized in the consolidated interim statement of income and loss attributable to balances held at the end of the reporting period, if any.

NOTE 18. (LOSS)/EARNINGS PER SHARE

The following table presents an overview of the calculated basic and diluted (loss)/earnings per share:


	Three months ended June 30,				Six months ended June 30,
In millions (except for share and (loss)/earnings per share information)	2024		2023		2024		2023
(Loss)/income for the period, attributable to the owners of the Company	$	(3.7)	$	(96.9)	$	1.4	$	(78.0)
Weighted-average number of ordinary shares (basic)	505,249,607		384,499,607		483,672,684		384,499,607
Weighted-average number of ordinary shares (diluted)	505,249,607		384,499,607		486,601,577		384,499,607
(Loss)/earnings per share (basic)	$	(0.01)	$	(0.25)	$	0.00	$	(0.20)
(Loss)/earnings per share (diluted)	$	(0.01)	$	(0.25)	$	0.00	$	(0.20)

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (CONTINUED)

The number of shares outstanding reflect a share split that became effective in January 2024, which was applied retrospectively to all periods presented. Refer to Note 11. Shareholders' Equity/(Deficit) for further details on the Share Split.

For the three months ended June 30, 2024, and three and six months ended June 30, 2023, we incurred net losses and as a result, the inclusion of potentially dilutive shares relating to vested and unvested shares of restricted share units, performance share units, and stock options (represented by 6,044,026, 3,471,233, and 3,210,005 weighted average potentially diluted shares for the three months ended June 30, 2024, and three and six months ended June 30, 2023, respectively) were excluded from the computation of diluted earnings per share because their effect would have been anti-dilutive.

For the six months ended June 30, 2024, 630,574 weighted average potentially dilutive shares outstanding related to unvested stock options were excluded from the computation of diluted earnings per share because their effects would have been antidilutive. In addition, 2,389,264 weighted average potentially dilutive shares outstanding related to unvested performance share units and stock options were excluded from the computation of diluted earnings per share because issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the period.

NOTE 19. SUBSEQUENT EVENTS

Management has evaluated events subsequent to June 30, 2024 and through August 20, 2024 the date these unaudited condensed interim financial statements were issued. There were no events which occurred subsequent to June 30, 2024 that merited disclosure in these interim financial statements.

Document and Entity Information	6 Months Ended
Document and Entity Information	Jun. 30, 2024
Document Information [Line Items]
Document Type	6-K
Document Period End Date	Jun. 30, 2024
Entity File Number	001-41943
Entity Registrant Name	Amer Sports, Inc.
Entity Address, Address Line One	Cricket Square, Hutchins Drive
Entity Address, Address Line Two	P.O. Box 2681
Entity Address, City or Town	Grand Cayman
Entity Address, Postal Zip Code	KY1-1111
Entity Address, Country	KY
Entity Central Index Key	0001988894
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024

UNAUDITED CONDENSED CONSOLIDATED INTERIM STATEMENT OF INCOME AND LOSS AND OTHER COMPREHENSIVE INCOME AND LOSS - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Profit or loss [abstract]
Revenue	$ 993.8	$ 856.8	$ 2,176.7	$ 1,907.1
Cost of goods sold	(442.5)	(400.2)	(986.9)	(895.6)
Gross profit	551.3	456.6	1,189.8	1,011.5
Selling, general and administrative expenses	(560.2)	(445.3)	(1,094.4)	(867.7)
Impairment losses	(1.2)	(4.7)	(2.5)	(7.5)
Other operating income	1.6	0.9	7.6	1.6
Operating (loss)/profit	(8.5)	7.5	100.5	137.9
Finance income	2.5	1.8	5.2	3.1
Finance cost	(47.7)	(101.1)	(130.0)	(187.2)
Loss on debt extinguishment	0.0	0.0	(14.3)	0.0
Net finance cost	(45.2)	(99.3)	(139.1)	(184.1)
Loss before tax	(53.7)	(91.8)	(38.6)	(46.2)
Income tax benefit/(expense)	51.9	(5.2)	43.7	(31.9)
Net (loss)/income	(1.8)	(97.0)	5.1	(78.1)
(Loss)/Income attributable to:
Equity holders of the Company	(3.7)	(96.9)	1.4	(78.0)
Non-controlling interests	$ 1.9	$ (0.1)	$ 3.7	$ (0.1)
(Loss)/Earnings per share
Basic loss per share (in USD per share)	$ (0.01)	$ (0.25)	$ 0.00	$ (0.20)
Diluted loss per share (in USD per share)	$ (0.01)	$ (0.25)	$ 0.00	$ (0.20)
Items that will not be reclassified to the statement of income and loss
Remeasurement effects of postemployment benefit plans	$ (0.3)	$ (3.0)	$ (4.2)	$ (6.1)
Income tax related to remeasurement effects	0.1	0.9	1.1	1.7
Items that subsequently may be reclassified to the statement of income and loss
Translation differences	(21.7)	(11.4)	43.3	(71.2)
Cash flow hedges	2.3	10.1	23.7	3.2
Income tax related to cash flow hedges	(0.4)	(2.0)	(4.7)	(0.6)
Other comprehensive (loss)/income, net of tax	(20.0)	(5.4)	59.2	(73.0)
TOTAL COMPREHENSIVE (LOSS)/INCOME	(21.8)	(102.4)	64.3	(151.1)
Total comprehensive (loss)/income attributable to:
Equity holders of the Company	(23.7)	(102.3)	60.6	(151.0)
Non-controlling interests	$ 1.9	$ (0.1)	$ 3.7	$ (0.1)

UNAUDITED CONDENSED CONSOLIDATED INTERIM STATEMENT OF FINANCIAL POSITION - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
NON-CURRENT ASSETS
Intangible assets	$ 2,700.5	$ 2,748.7
Goodwill	2,246.3	2,270.0
Property, plant and equipment	481.0	441.9
Right-of-use assets	402.9	317.1
Non-current financial assets	9.0	9.2
Other non-current assets	56.7	73.5
Deferred tax assets	155.6	161.7
TOTAL NON-CURRENT ASSETS	6,052.0	6,022.1
CURRENT ASSETS
Inventories	1,241.0	1,099.6
Accounts receivable, net	425.5	599.8
Prepaid expenses and other receivables	219.2	162.3
Current tax assets	51.1	6.6
Cash and cash equivalents	255.9	483.4
TOTAL CURRENT ASSETS	2,192.7	2,351.7
TOTAL ASSETS	8,244.7	8,373.8
EQUITY (DEFICIT)
Share capital	16.9	642.2
Share premium	2,133.4	0.0
Capital reserve	2,789.2	227.2
Cash flow hedge reserve	8.4	(10.6)
Accumulated deficit and other	(941.3)	(1,019.0)
Equity (deficit) attributable to equity holders of the parent company	4,006.6	(160.2)
Non-controlling interests	7.1	3.4
TOTAL EQUITY (DEFICIT)	4,013.7	(156.8)
LONG-TERM LIABILITIES
Lease liabilities	329.8	250.4
Loans from financial institutions	2,013.9	1,863.4
Loans from related parties	0.0	4,077.0
Defined benefit pension liabilities	16.5	23.9
Other long-term liabilities	23.0	29.4
Provisions	5.4	5.5
Long-term tax liabilities	11.4	32.1
Deferred tax liabilities	660.2	675.0
TOTAL LONG-TERM LIABILITIES	3,060.2	6,956.7
CURRENT LIABILITIES
Interest-bearing liabilities	31.6	381.0
Lease liabilities	101.7	89.4
Accounts payable	454.3	426.5
Other current liabilities	555.0	567.5
Provisions	28.2	29.9
Current tax liabilities	0.0	79.6
TOTAL CURRENT LIABILITIES	1,170.8	1,573.9
TOTAL LIABILITIES	4,231.0	8,530.6
TOTAL SHAREHOLDERS’ EQUITY (DEFICIT) AND LIABILITIES	$ 8,244.7	$ 8,373.8

UNAUDITED CONDENSED CONSOLIDATED INTERIM STATEMENT OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
NET CASH FLOW FROM OPERATING ACTIVITIES
Net (loss)/income	$ 5.1	$ (78.1)
Adjustments for:
Depreciation and amortization	125.3	104.4
Impairment losses	2.5	7.5
Loss on sale of subsidiary	5.6	0.0
Share-based payments for equity-settled options	10.1	0.0
Other non-cash valuation losses	5.2	13.0
Finance income	(5.2)	(3.1)
Finance cost	130.0	187.2
Loss on debt extinguishment	14.3	0.0
Income tax (benefit)/expense	(43.7)	31.9
Changes in:
Inventories	(167.8)	(321.3)
Trade receivables	157.3	242.1
Prepaid expenses and other receivables	(39.3)	(12.0)
Accounts payables	50.6	(3.8)
Other liabilities	(17.0)	(68.1)
Cash generated from operating activities	233.0	99.7
Interest paid	(84.9)	(110.9)
Interest received	3.9	3.3
Income taxes paid	(85.2)	(59.0)
Total net cash flows from/(used in) operating activities	66.8	(66.9)
NET CASH FLOW FROM INVESTING ACTIVITIES
Proceeds from sale of subsidiary	15.5	0.0
Acquisition of property, plant and equipment	(106.1)	(51.0)
Acquisition of intangible assets	(21.1)	(4.2)
Proceeds from sale of property, plant and equipment	0.0	2.4
Acquisition of right-of-use assets	(2.7)	(3.5)
Net cash flow used in investing activities	(114.4)	(56.3)
NET CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from short-term borrowings from financial institutions	48.4	185.3
Repayments of short-term borrowings from financial institutions	(396.3)	(125.3)
Proceeds from long-term borrowings from financial institutions	2,027.3	0.0
Repayments of long-term borrowings from financial institutions	(1,831.8)	0.0
Repayments of long-term borrowings from related parties	(1,460.5)	0.0
Proceeds from share issuance	1,514.8	0.0
Payments of lease liabilities	(47.8)	(37.6)
Payments of debt issuance costs	(8.2)	0.0
Settlements of forward contract and balance sheet hedges	(28.3)	(3.1)
Release of derivative contract collateral	18.1	0.0
Other financing items	(1.5)	(14.6)
Net cash flow (used in)/from financing activities	(165.8)	4.7
CHANGE IN CASH AND CASH EQUIVALENTS	(213.4)	(118.5)
Cash and cash equivalents
Cash and cash equivalents at period end	255.9	278.5
Translation differences	(14.1)	(5.0)
Cash and cash equivalents at the beginning of the period	483.4	402.0
NON-CASH FINANCING ACTIVITIES
Equitization of related party loans and interest	$ 2,562.0	$ 107.3

UNAUDITED CONDENSED CONSOLIDATED INTERIM STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY (DEFICIT) - USD ($) $ in Millions	Total	Share capital	Share premium	Capital reserve	Cash flow hedge reserve	Translation differences	Remeasurements	Other reserves	Accumulated deficit	Accumulated deficit and other	Non-controlling interests
Beginning balance at Dec. 31, 2022	$ (73.9)	$ 642.2	$ 0.0	$ 0.0	$ (3.1)	$ 109.8	$ 37.0	$ (10.9)	$ (848.9)	$ (713.0)	$ 0.0
Other comprehensive income:
Translation differences	(71.2)					(71.2)				(71.2)
Remeasurement effects of postemployment benefit plans	(6.1)						(6.1)			(6.1)
Cash flow hedges	3.2				3.2
Income tax related to OCI	1.1				(0.6)		1.7			1.7
Loss for the period	(78.1)								(78.0)	(78.0)	(0.1)
Total comprehensive income/(loss), net of tax	(151.1)				2.6	(71.2)	(4.4)		(78.0)	(153.6)	(0.1)
Transactions with owners:
Capital Contribution	107.3								107.3	107.3
Initial investment from non-controlling owners	3.6										3.6
Ending balance at Jun. 30, 2023	(114.1)	642.2	0.0	0.0	(0.5)	38.6	32.6	(10.9)	(819.6)	(759.3)	3.5
Beginning balance at Dec. 31, 2023	(156.8)	642.2	0.0	227.2	(10.6)	0.6	40.6	(2.7)	(1,057.5)	(1,019.0)	3.4
Other comprehensive income:
Translation differences	43.3					43.3				43.3
Remeasurement effects of postemployment benefit plans	(4.2)						(4.2)			(4.2)
Cash flow hedges	23.7				23.7
Income tax related to OCI	(3.6)				(4.7)		1.1			1.1
Loss for the period	5.1								1.4	1.4	3.7
Total comprehensive income/(loss), net of tax	64.3				19.0	43.3	(3.1)		1.4	41.6	3.7
Transactions with owners:
Share-based payments	33.6							33.6		33.6
Income tax related to share-based payments	2.5							2.5		2.5
Elimination of Class A and B shares	(642.2)	(642.2)
Issuance of ordinary shares before IPO	642.2	13.0	629.2
Capital increase - IPO	1,569.7	3.9	1,565.8
IPO related transaction costs	(61.6)		(61.6)
Contribution of related party debt to equity	2,562.0			2,562.0
Ending balance at Jun. 30, 2024	$ 4,013.7	$ 16.9	$ 2,133.4	$ 2,789.2	$ 8.4	$ 43.9	$ 37.5	$ 33.4	$ (1,056.1)	$ (941.3)	$ 7.1

THE COMPANY	6 Months Ended
THE COMPANY	Jun. 30, 2024
THE COMPANY
THE COMPANY	THE COMPANY Background and description of the business Amer Sports, Inc. (formerly Amer Sports Management Holding (Cayman) Limited) (the “Company”) was founded on January 3, 2020 and is incorporated and domiciled in Grand Cayman, the Cayman Islands. The Company’s registered office is Cricket Square, Hutchins Drive, PO Box 2681, Grand Cayman KY1-1111, Cayman Islands. The Company and its consolidated subsidiaries are referred to as the “Group” or “Amer Sports”. Amer Sports is a global platform of sport and outdoor brands, including Arc’teryx, Salomon, Wilson, Atomic and Peak Performance. Amer Sports manufactures, markets and sells sports equipment, apparel, and footwear through wholesale and direct to consumer ("DTC") channels globally and has a sales network in 34 countries, with North America, Europe, Asia and China being the main market areas. On January 31, 2024, the Company completed the initial public offering (“IPO”) of 105,000,000 ordinary shares at an initial offering price of $13.00 and began trading on the New York Stock Exchange under the ticker “AS” on February 1, 2024. The IPO closed on February 5, 2024, raising $1.37 billion in gross proceeds, and the underwriters subsequently exercised a portion of their overallotment option to purchase additional shares of 7,875,000 at the initial offering price of $13.00, raising $102.4 million in additional gross proceeds on February 6, 2024. On February 8, 2024, the underwriters exercised the remaining portion of the option to purchase additional shares of 7,875,000 at the initial offering price of $13.00, raising an additional $102.4 million in further additional gross proceeds. Seasonality Although the Group operates in a number of sporting goods segments during all four seasons, its business is subject to seasonal fluctuations. Historically, the fourth quarter of a financial year has been the strongest quarter for the Group in terms of both net sales and profitability, primarily due to higher sales through the Company’s DTC channel compared to the rest of the year and a higher share of fall and winter collections in the Group’s Technical Apparel and Outdoor Performance segments. The Ball & Racquet Sports segment is generally more consistent across fiscal quarters. Working capital requirements typically increase throughout the second and third fiscal quarters as inventory builds to support the Group’s peak shipping and selling period which typically occurs from August to December. Cash provided by operating activities is typically highest in the first fiscal quarter due to the significant inflows associated with the peak selling season.

SUMMARY OF MATERIAL ACCOUNTING POLICIES	6 Months Ended
SUMMARY OF MATERIAL ACCOUNTING POLICIES	Jun. 30, 2024
SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF MATERIAL ACCOUNTING POLICIES	SUMMARY OF MATERIAL ACCOUNTING POLICIES Basis of preparation These unaudited condensed consolidated interim financial statements as of and for the three and six months ended June 30, 2024 have been prepared in accordance with International Accounting Standard (“IAS”) 34 Interim Financial Reporting as issued by the International Accounting Standards Board (“IASB”) as of January 1, 2024. The interim report does not include all the notes of the type normally included in an annual financial report. Accordingly, this report is to be read in conjunction with the annual report for the year ended December 31, 2023. The accounting policies adopted are consistent with those of the previous financial year and corresponding interim reporting period. The unaudited condensed consolidated interim financial statements are presented in millions of U.S. dollars (“$” or “USD”). Effective February 1, 2024, management determined that Amer Sports, Inc.’s functional currency changed from euro (“EUR”) to USD, which has been accounted for on a prospective basis. The change in functional currency was driven by the capital structure change of Amer Sports, Inc., due to the IPO, debt refinancing, and related transaction expenses incurred, which were primarily denominated in U.S. dollars. Future equity issuances and cash flows of the Company will be in USD. The presented figures and percentages are subject to rounding adjustments, which may cause discrepancies between the sum of the individual figures and the presented aggregated column and row totals. The figures have been prepared under the historical cost basis except for the revaluation of financial instruments that are measured at revalued amounts or fair values at the end of each reporting period as well as derivative financial instruments at fair value. The unaudited condensed consolidated interim financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of the business. New and amended standards and interpretations The Group has applied the following new and revised standards, amendments and interpretations that are required to be applied as of January 1, 2024: •IAS 1 (amendment): Classification of Liabilities as Current or Non-current, Non-current liabilities with Covenants - no material impact •IFRS 16 (amendment): Lease liability in a Sale and Leaseback - no material impact •IAS 7 and IFRS 7 (amendment): Supplier finance arrangements - no material impact Significant accounting judgments, estimates, and assumptions When preparing the unaudited condensed consolidated interim financial statements, the Group’s management makes judgments and estimates influencing the content of the unaudited condensed interim financial statements and it must exercise its judgment regarding the application of accounting policies. Management continuously evaluates the judgments and estimates it uses. The significant judgments made and the estimates used by management have been applied in the same manner as reported in the consolidated financial statements for the year ended December 31, 2023.

SEGMENT REPORTING

6 Months Ended

Jun. 30, 2024

Disclosure of operating segments [abstract]

SEGMENT REPORTING

Information on reportable segments

For the three months ended June 30, 2024


In millions	Technical Apparel		Outdoor Performance		Ball & Racquet Sports		Reconciliation5		Group
Revenue	$	407.3	$	304.0	$	282.5	$	-	$	993.8
Depreciation and amortization	$	27.6	$	25.2	$	8.1	$	1.9	$	62.8

Adjusted operating profit/(loss)	$	57.8	$	(6.5)	$	3.2	$	(25.2)	$	29.3
Adjustments
PPA1									(10.7)
Restructuring expenses2									(8.8)

Expenses related to transaction activities3									(12.2)

Expenses related to share-based incentive plans4									(6.1)
Finance cost									(47.7)

Finance income									2.5
Loss before tax									$	(53.7)

2Includes expenses for restructuring from severance, exit and termination events, and other non-recurring costs from payroll tax audits.

3Includes advisory fees in connection with M&A activities and non-recurring costs associated with the IPO and disposal of businesses.

5Includes corporate expenses, which have not been allocated to the reportable segments.

For the three months ended June 30, 2023


In millions	Technical Apparel		Outdoor Performance		Ball & Racquet Sports		Reconciliation4		Group
Revenue	$	303.0	$	273.6	$	280.2	$	-	$	856.8
Depreciation and amortization	$	20.6	$	23.5	$	6.7	$	1.6	$	52.4

Adjusted operating profit/(loss)	$	39.6	$	(16.2)	$	7.5	$	(10.0)	$	20.9
Adjustments
PPA1									(10.7)
Restructuring expenses2									(0.2)

Expenses related to transaction activities3									(2.5)

Finance cost									(101.1)

Finance income									1.8
Loss before tax									$	(91.8)

2Includes expenses for restructuring from severance, exit and termination events.

3Includes advisory fees in connection with M&A activities and non-recurring costs associated with the IPO and disposal of businesses.

4Includes corporate expenses, which have not been allocated to the reportable segments.

For the six months ended June 30, 2024


In millions	Technical Apparel		Outdoor Performance		Ball & Racquet Sports		Reconciliation5		Group
Revenue	$	917.6	$	704.0	$	555.1	$	-	$	2,176.7
Depreciation and amortization	$	55.6	$	50.5	$	15.7	$	3.5	$	125.3

Adjusted operating profit/(loss)	$	175.1	$	12.8	$	14.0	$	(42.9)	$	159.0
Adjustments
PPA1									(21.4)
Restructuring expenses2									(9.7)

Expenses related to transaction activities3									(18.0)

Expenses related to share-based incentive plans4									(9.4)
Finance cost									(130.0)
Loss on debt extinguishment									(14.3)
Finance income									5.2
Loss before tax									$	(38.6)

2Includes expenses for restructuring from severance, exit and termination events, and other non-recurring costs from payroll tax audits.

3Includes advisory fees in connection with M&A activities and non-recurring costs associated with the IPO and disposal of businesses.

5Includes corporate expenses, which have not been allocated to the reportable segments.

For the six months ended June 30, 2023


In millions	Technical Apparel		Outdoor Performance		Ball & Racquet Sports		Reconciliation4		Group
Revenue	$	658.2	$	651.1	$	597.8	$	-	$	1,907.1
Depreciation and amortization	$	41.1	$	47.2	$	13.0	$	3.1	$	104.4

Adjusted operating profit/(loss)	$	122.7	$	14.9	$	53.3	$	(28.8)	$	162.1
Adjustments
PPA1									(21.4)
Restructuring expenses2									(0.1)

Expenses related to transaction activities3									(2.7)

Finance cost									(187.2)

Finance income									3.1
Loss before tax									$	(46.2)

2Includes expenses for restructuring from severance, exit and termination events.

3Includes advisory fees in connection with M&A activities and non-recurring costs associated with the IPO and disposal of businesses.

4Includes corporate expenses, which have not been allocated to the reportable segments.

REVENUE FROM CONTRACTS WITH CUSTOMERS

6 Months Ended

Jun. 30, 2024

Disclosure of disaggregation of revenue from contracts with customers [abstract]

REVENUE FROM CONTRACTS WITH CUSTOMERS

Amer Sports operates primarily in one industry — the design, manufacturing, distribution, selling and marketing of sporting goods, apparel and footwear.

The Group is managed through its global brands supported by regional sales organizations and group wide platforms such as global operations and sourcing, IT and finance.

Amer Sports brands operate in the following key categories:

Technical Apparel, which includes Arc’teryx and Peak Performance.

Ball & Racquet Sports, which includes Wilson, Demarini, Louisville Slugger, Evoshield, and ATEC.

Geographic revenues are presented according to customers’ location.

GEOGRAPHIC BREAKDOWN OF REVENUES


	Three months ended June 30,				Six months ended June 30,
In millions	2024		2023		2024		2023
EMEA1	$	231.6	$	230.1	$	590.3	$	587.0
Americas2	367.8		365.9		777.3		775.5
Greater China3	288.6		187.6		598.9		393.2
Asia Pacific4	105.8		73.2		210.2		151.4
Total	$	993.8	$	856.8	$	2,176.7	$	1,907.1

BREAKDOWN OF REVENUES BY SEGMENT


	Three months ended June 30,				Six months ended June 30,
In millions	2024		2023		2024		2023
Technical Apparel	$	407.3	$	303.0	$	917.6	$	658.2
Outdoor Performance	304.0		273.6		704.0		651.1
Ball & Racquet Sports	282.5		280.2		555.1		597.8
Total	$	993.8	$	856.8	$	2,176.7	$	1,907.1

BREAKDOWN OF REVENUES BY CHANNEL


	Three months ended June 30,				Six months ended June 30,
In millions	2024		2023		2024		2023
Wholesale	$	544.5	$	535.8	$	1,239.0	$	1,238.6
DTC	449.3		321.0		937.7		668.5
Total	$	993.8	$	856.8	$	2,176.7	$	1,907.1

The Company did not recognize 10% or more of total revenue with any single customer in any of the periods presented.

CONTRACT BALANCES

SHARE-BASED PAYMENTS

6 Months Ended

Jun. 30, 2024

Disclosure of terms and conditions of share-based payment arrangement [abstract]

SHARE-BASED PAYMENTS

Employee Stock Ownership Plan 2019 and Employee Stock Ownership Plan 2023

The maximum number of options under the 2019 ESOP and 2023 ESOP that may be granted is 3.0% and 1.2% respectively of all of the Company’s issued and outstanding shares.

In addition to an exit event, 35% of the options granted are time-vested, which vest evenly on an annual basis over 3 to 5 years, 65% of the options granted are with Group and/or brand performances.

Prior to the vesting of the option awards under the 2019 ESOP and 2023 ESOP plans, the Company made modification of the terms of the awards.

2019 ESOP:

The following table summarizes the activity of share options under the 2019 ESOP during the six months ended June 30, 2024.


	Number of options	Weighted average exercise price
Outstanding at January 1, 2024	11,499,819	$	9.40
Granted during the year	-	$	—
Forfeited during the year	(491,955)	$	10.74
Exercised during the year	-	$	—

Outstanding at June 30, 2024	11,007,864	$	9.34
Exercisable at June 30, 2024	—	—

The options outstanding had a remaining weighted average contractual life of 5.5 years and 6.0 years at June 30, 2024 and December 31, 2023, respectively.

2023 ESOP:

The following table summarizes the activity of share options under the 2023 ESOP during the six months ended June 30, 2024.


	Number of options	Weighted average exercise price
Outstanding at January 1, 2024	3,411,636	$	11.68
Granted during the year	-	$	—
Forfeited during the year	(25,887)	$	10.47
Exercised during the year	-	$	—

Outstanding at June 30, 2024	3,385,749	$	11.69
Exercisable at June 30, 2024	—	—

The options outstanding had a remaining weighted average contractual life of 5.5 years and 6.0 years at June 30, 2024 and December 31, 2023, respectively.

Fair value of options granted


2019 ESOP:	Equity-settled awards Fair value at re-measurement dates:	Cash settled awards remeasured fair value at June 30, 2024
Cash compensation payable of group performance based options	N/A	$0.22 - $4.92
Fair value of underlying share at re-measurement dates	$13.00 - $18.94	N/A
Exercise price	$7.70 - $12.63	N/A
Expected volatility	39.8% - 44.4%	42.2%
Expected life	1.03 - 5.19 years	0.09 - 1.75 years
Expected dividends	0%	0%
Risk-free interest rate	4.0% - 4.8%	4.6%

2023 ESOP:

Equity-settled awards

Fair value at
re-measurement dates:

Cash settled awards remeasured fair value at
June 30, 2024

Cash compensation payable of group performance based options

N/A

$0.23 - $3.69

Fair value of underlying share at re-measurement dates

$13.00 - $18.94

N/A

Exercise price

$7.70 - $14.19

N/A

Expected volatility

39.8% - 43.6%

42.2%

Expected life

1.03 - 3.61 years

0.09 - 1.75 years

Expected dividends

Risk-free interest rate

4.1% - 4.8%

4.6%

Expected volatility has been based on the historical volatility of the comparable companies’ share price, particularly over the historical period commensurate with the expected life of the options.

Amer Sports, Inc. 2024 Omnibus Incentive Plan

The following table summarizes the activity in restricted share units and performance share units for employees and non-employee directors during the six months ended June 30, 2024.


	Restricted Share Units			Performance Share Units
	Number of units	Weighted Average Grant Date Fair Value		Number of units	Weighted Average Grant Date Fair Value
Outstanding at January 1, 2024	-	$	-	-	$	-
Granted during the year	1,090,627	$	13.63	1,993,174	$	14.56
Vested during the year	-	$	-	-	$	-
Forfeited during the year	(5,668)	$	13.64	(6,299)	$	14.55

Outstanding at June 30, 2024	1,084,959	$	13.63	1,986,875	$	14.56

The Company recorded expenses amounting to $3.9 million for the six months ended June 30, 2024 for RSUs and PSUs granted under the Omnibus Incentive Plan.

FINANCE INCOME AND COST

6 Months Ended

Jun. 30, 2024

FINANCE INCOME AND COST

FINANCE INCOME AND COST


	Three months ended June 30,				Six months ended June 30,
In millions	2024		2023		2024		2023
Finance income	$	2.5	$	1.8	$	5.2	$	3.1

Finance cost
Interest cost to related parties	-		(58.3)		(21.8)		(107.1)
Interest cost on other interest bearing debt	(42.6)		(39.3)		(89.1)		(74.1)
Exchange rate losses	(0.9)		(1.3)		(12.6)		(1.3)
Other finance cost	(4.2)		(2.2)		(6.5)		(4.7)
	(47.7)		(101.1)		(130.0)		(187.2)

Loss on debt extinguishment	-		-		(14.3)		-
Net finance cost	$	(45.2)	$	(99.3)	$	(139.1)	$	(184.1)

Exchange rate losses for the six months ended June 30, 2024 includes approximately $18.0 million of losses related to contract costs incurred in association with our IPO.

INCOME TAXES	6 Months Ended
INCOME TAXES	Jun. 30, 2024
Major components of tax expense (income) [abstract]
INCOME TAXES	INCOME TAXES In accordance with IAS 34 Interim Financial Reporting, income tax expense for the condensed consolidated interim financial statements is calculated on the basis of the average annual tax rate that is expected for the entire fiscal year, adjusted for the tax effect of certain items recognized in the full interim period. As such, the effective tax rate in the consolidated interim financial statements may differ from management’s best estimate of the effective rate. The effective tax rate was 113% and (69)% for the six months ended June 30, 2024 and 2023, respectively. The six months ended June 30, 2024, included a discrete tax benefit of $19.9 million due to the reversal of uncertain tax positions as a result of the closure of tax audits and expiration of statute of limitations, which was partially offset by an unfavorable return to provision adjustment of $11.8 million. The effective tax rate of (69)% for the the six months ended June 30, 2023, is due to high non-deductible interest expenses. The Organization for Economic Co-operation and Development Pillar Two guidelines published to date include transition and safe harbor rules around the implementation of the Pillar Two global minimum tax of 15%. Based on current enacted legislation effective in 2024, the legislation does not have a material impact on the Group’s financial results. The Company is monitoring developments and evaluating the impacts these new rules will have on its future income tax provision and effective income tax rate.

INTANGIBLES ASSETS	6 Months Ended
INTANGIBLES ASSETS	Jun. 30, 2024
Disclosure of detailed information about intangible assets [abstract]
INTANGIBLES ASSETS	INTANGIBLE ASSETS During the three and six months ended June 30, 2024, there were no significant additions, disposals or impairments of intangible assets. Impairment review Impairment tests of goodwill and intangible assets with indefinite useful lives, such as trademarks, are performed when management has identified indications of impairment or once a year when business plans for the next strategic planning horizon are approved by management. Goodwill is monitored by management at Cash Generating Unit (“CGU”) level, the level at which it and other intangible assets with indefinite lives are tested for impairment. The CGUs in the Group are the following: Winter Sports Equipment, Salomon, Arc’teryx, Ball & Racquet Sports, and Peak Performance. Management has considered whether any impairment indicators existed at the reporting date, and has concluded that the carrying amounts of goodwill and intangible assets with indefinite useful lives are fully recoverable as of June 30, 2024.

PROPERTY, PLANT AND EQUIPMENT

6 Months Ended

Jun. 30, 2024

Disclosure of detailed information about property, plant and equipment [abstract]

PROPERTY, PLANT AND EQUIPMENT


In millions	Land		Buildings and constructions		Machinery and equipment		Advances paid and construction in progress		Property, plant and equipment
Initial cost at January 1, 2024	$	35.9	$	374.9	$	457.0	$	74.9	$	942.7
Additions	-		19.5		13.0		60.2		92.7
Disposal of subsidiary	-		-		(6.7)		(0.4)		(7.1)
Disposals	-		(11.0)		(5.9)		-		(16.9)
Transfers	-		41.9		13.8		(55.7)		-
Translation differences	(0.9)		(9.7)		(13.1)		(2.0)		(25.7)
Balance at June 30, 2024	$	35.0	$	415.6	$	458.1	$	77.0	$	985.7
Accumulated depreciation and impairment losses at January 1, 2024	-		201.1		299.7		-		500.8
Depreciation during the period	-		18.6		20.6		-		39.2
Disposal of subsidiary	-		-		(4.3)		-		(4.3)
Disposals	-		(11.0)		(5.9)		-		(16.9)
Transfers	-		-		-		-		-
Translation differences	-		(5.0)		(9.1)		-		(14.1)
Balance at June 30, 2024	-		203.7		301.0		-		504.7
Balance at June 30, 2024	$	35.0	$	211.9	$	157.1	$	77.0	$	481.0

VALUATION PROVISIONS OF INVENTORIES

6 Months Ended

Jun. 30, 2024

Classes of current inventories [abstract]

VALUATION PROVISIONS OF INVENTORIES

Gross and net inventories


In millions	June 30, 2024		December 31, 2023
Gross inventories	$	1,275.7	$	1,129.0
Net realizable value valuation provision	(34.7)		(29.4)
Net inventories	$	1,241.0	$	1,099.6


In millions	June 30, 2024		December 31, 2023
Net inventories
Raw materials and consumables	$	39.3	$	45.0
Work in progress	38.2		48.7
Finished goods	1,163.5		1,005.9
Total	$	1,241.0	$	1,099.6

SHAREHOLDERS' EQUITY (DEFICIT)	6 Months Ended
SHAREHOLDERS' EQUITY (DEFICIT)	Jun. 30, 2024
Disclosure of classes of share capital [abstract]
SHAREHOLDERS' EQUITY (DEFICIT)	SHAREHOLDERS’ EQUITY/(DEFICIT) The authorized share capital of the Company is EUR 75,000,000 divided into 2,495,175,000 shares of a nominal or par value of EUR 0.0300580119630888 each. As of June 30, 2024 there were 505,249,607 ordinary shares outstanding, amounting to share capital of $16.9 million. As of December 31, 2023 there were 115,220,745 A shares and 352,193 B shares outstanding, amounting to share capital of $642.2 million. Immediately prior to the completion of the IPO, the Company (i) redesignated and reclassified each of the issued and outstanding class A voting shares and each of the issued and outstanding class B non-voting shares into a single class of ordinary shares, each entitled to one vote per share (collectively, the “Reclassification”) and (ii) effected a 3.3269-for-1 share split of its ordinary shares (the “Share Split”). Following the Reclassification and the Share Split, but before giving effect to the IPO, the Company had 384,499,607 ordinary shares issued and outstanding. After giving effect to the IPO, the Company has 505,249,607 ordinary shares issued and outstanding. In addition to the Reclassification and the Share Split, the Company equitized a portion of Loans from related parties (comprised of the Investment Loan and Facility A Loan) in the amount of $2.54 billion (the “Equitization”), which resulted in an increase of Capital reserve. The Equitization is accounted for as a capital contribution. In connection with the IPO, the Company eliminated the line item Reserves and instead introduced the Share premium, Capital reserve and Cash flow hedge reserve line items to be presented on the face of the consolidated statement of financial position. Certain amounts have been reclassified as of December 31, 2023 to conform to the current presentation. Share premium reflects the amount of IPO proceeds exceeding the par value. Capital reserve reflects the Equitization and suspension of interest relating to the Loans from related parties. Management believes that this presentation improves comparability to peers and investors’ understanding of the financial impact resulting from the IPO and the Equitization.

INTEREST-BEARING LIABILITIES

6 Months Ended

Jun. 30, 2024

INTEREST-BEARING LIABILITIES

INTEREST-BEARING LIABILITIES


In millions	Consolidated statement of financial position value June 30, 2024		Nominal interest rates
Loans from financial institutions	$	2,018.9	Long term 6.75% - 8.58% Short term 8.58%

Lease liabilities	431.5		5.56	%
Other interest-bearing liabilities	26.7		5.53	%
Total	$	2,477.1


In millions	Consolidated statement of financial position value December 31, 2023		Nominal interest rates
Loans from financial institutions	$	2,154.4	Long term 7.65%, Short term 6.68% - 8.10%
Loans from related parties	4,077.0		5.68%, 8.20%
Lease liabilities	339.8		5.24	%
Other interest-bearing liabilities	90.0		7.86	%
Total	$	6,661.2

OTHER LIABILITIES

6 Months Ended

Jun. 30, 2024

OTHER LIABILITIES

OTHER LIABILITIES

Other current liabilities


In millions	June 30, 2024		December 31, 2023
Related to financing activities:
Accrued interest	$	33.1	$	33.0
Payables related to derivatives	10.3		31.2
Related to operating and other activities:
Liabilities for share-based payments	2.3		18.5
Accrued personnel costs	156.3		148.0
Accrued advertising and promotions	51.4		57.3
Refund liabilities	31.7		35.5
Value-added taxes	33.3		25.7
Goods received not invoiced	31.4		25.7
Contract liabilities	25.0		25.0
Accrued royalties	8.4		8.5
Other accrued liabilities	171.8		159.2
Total	$	555.0	$	567.5

PROVISIONS

6 Months Ended

Jun. 30, 2024

Classes of other provisions [abstract]

PROVISIONS


In millions	Product warranty		Restructuring		Other		Total
Balance at January 1, 2024	$	24.2	$	2.2	$	9.0	$	35.4
Translation differences	(0.6)		-		(0.6)		(1.2)
Provisions made during the period	2.6		7.9		0.4		10.9
Provisions used during the period	(2.8)		(7.7)		(0.4)		(10.9)
Provisions reversed during the period	(0.6)		-		-		(0.6)
Balance at June 30, 2024	$	22.8	$	2.4	$	8.4	$	33.6

Long-term provisions							$	5.4
Current provisions							28.2
Total							$	33.6

The majority of the provisions resulted from repair or replacement of products during their warranty period. The majority of warranty provisions are realized within one year.

COMMITEMENTS

6 Months Ended

Jun. 30, 2024

Capital commitments [abstract]

COMMITMENTS


In millions	June 30, 2024		December 31, 2023
Guarantees	$	20.1	$	15.7
Other commitments	320.6		210.7

There are no guarantees or contingencies given for the management of the Group, for the shareholders, or for the associated companies.

Ongoing litigation

RELATED PARTY TRANSACTIONS

6 Months Ended

Jun. 30, 2024

Disclosure of transactions between related parties [abstract]

RELATED PARTY TRANSACTIONS

The Company's transactions with ANTA Sports comprise the following:


	Three months ended June 30,				Six months ended June 30,
In millions	2024		2023		2024		2023
Purchases of goods and services from ANTA Sports and subsidiaries	$	11.0	$	6.5	$	12.9	$	12.8
Sales to ANTA Sports and subsidiaries	8.4		0.2		10.8		0.2

Sales to ANTA Sports are based on the same conditions that apply to third parties.

Key management includes the Board of Directors of Amer Sports, Inc., the Executive Committee, and the Executive Board.

Key management prior to the IPO also included the Board of Directors of Amer Sports Holding 3 Oy.

Compensation to key management recognized in earnings:


	Three months ended June 30,				Six months ended June 30,
In millions	2024		2023		2024		2023
Salaries and other short-term employee benefits	$	5.1	$	3.4	$	11.7	$	6.4
Post-employment benefits	0.1		0.1		0.3		0.3
Expenses related to share-based incentive plans1	5.9		-		13.6		-
Other long-term benefits	-		-		0.1		0.1
Total	$	11.1	$	3.5	$	25.7	$	6.8

1Includes expenses for the share-based payments and for fixed cash compensation on stock options vested at period end.

The Company was granted the following long-term loans from the parent company Amer Sports Holding (Cayman) Limited:


In millions	June 30, 2024		December 31, 2023
Long-term loans from the parent company:
Investment Loan	$	-	$	2,641.0
Facility A Loan	-		1,436.5
Total	$	-	$	4,077.5

At the Group level, the loan was netted by upfront fees related to the aforementioned loan.

	Three months ended June 30,				Six months ended June 30,
In millions	2024		2023		2024		2023
Interest expenses to the parent company:
Investment Loan	$	-	$	52.9	$	19.1	$	97.1
Facility A Loan	-		5.4		2.5		10.0
Total	$	-	$	58.3	$	21.6	$	107.1


In millions	June 30, 2024		December 31, 2023
ANTA Sports and subsidiaries
Current payables (purchases of goods and services)	$	7.6	$	6.3
Current receivables (sales of goods)	6.3		-
Amer Sports Holding (Cayman) Limited
Accounts receivable, net	-		18.0
Other receivables	-		13.3
Key management personnel
Provisions short and long-term incentive	11.2		17.9
Amer Sports Management Company (Cayman) Limited
Loans from related parties taken in 2022	-		11.9
Interest expenses	-		0.8
Low Tide Properties Ltd.
Right-of-use asset / Lease liability	0.8		0.9

Current payables to and receivables from ANTA Sports have a short term maturity, are interest free and not secured.

BALANCE SHEET VALUES OF FINANCIAL ASSETS AND LIABILITIES BY MEASUREMENT CATEGORIES

6 Months Ended

Jun. 30, 2024

Disclosure of detailed information about financial instruments [abstract]

BALANCE SHEET VALUES OF FINANCIAL ASSETS AND LIABILITIES BY MEASUREMENT CATEGORIES


June 30, 2024	Financial assets/ liabilities at fair value through profit and loss		Derivative financial instruments used in cash flow hedge accounting		Financial assets/ liabilities measured at amortized cost		Financial assets at fair value through OCI		Carrying amount by balance sheet item

In millions
NON-CURRENT FINANCIAL ASSETS
Other non-current financial assets	$	-	$	-	$	52.8	$	9.0	$	61.8
Derivative financial instruments1
Foreign exchange derivatives	3.8		0.1		-		-		3.9


CURRENT FINANCIAL ASSETS
Hold-to-collect accounts receivable	-		-		387.8		-		387.8
Available-for-sale factoring receivables	-		-		-		37.7		37.7
Other non-interest yielding receivables2	-		-		148.5		-		148.5
Promissory notes2	-		-		-		2.9		2.9
Derivative financial instruments1
Foreign exchange derivatives	4.7		16.0		-		-		20.7
Interest rate derivatives	-		-		-		-		-
Cash and cash equivalents	-		-		255.9		-		255.9

Balance by category at June 30, 2024	$	8.5	$	16.1	$	845.0	$	49.6	$	919.2

LONG-TERM FINANCIAL LIABILITIES
Long-term interest-bearing liabilities	$	-	$	-	$	2,013.9	$	-	$	2,013.9
Long-term lease liabilities	-		-		329.8		-		329.8
Other long-term liabilities	-		-		21.7		-		21.7
Derivative financial instruments1
Foreign exchange derivatives	-		0.1		-		-		0.1
Interest rate derivatives	-		1.2		-		-		1.2

CURRENT FINANCIAL LIABILITIES
Current interest-bearing liabilities	-		-		31.6		-		31.6
Current lease liabilities	-		-		101.7		-		101.7
Accounts payable	-		-		454.3		-		454.3
Other current liabilities3	-		-		502.2		-		502.2
Derivative financial instruments1
Foreign exchange derivatives	2.8		6.7		-		-		9.5
Interest rate derivatives	-		0.7		-		-		0.7

Balance by category at June 30, 2024	$	2.8	$	8.7	$	3,455.2	$	-	$	3,466.7


December 31, 2023	Financial assets/ liabilities at fair value through profit and loss		Derivative financial instruments used in cash flow hedge accounting		Financial assets/ liabilities measured at amortized cost		Financial assets at fair value through OCI		Carrying amount by balance sheet item

In millions
NON-CURRENT FINANCIAL ASSETS
Other non-current financial assets	$	-	$	-	$	70.2	$	9.2	$	79.4
Derivative financial instruments1
Interest rate derivatives	3.3		-		-		-		3.3

CURRENT FINANCIAL ASSETS
Hold-to-collect accounts receivable	-		-		597.2		-		597.2
Available-for-sale factoring receivables	-		-		-		2.6		2.6
Other non-interest yielding receivables2	-		-		118.0		-		118.0
Promissory notes2	-		-		-		6.8		6.8
Derivative financial instruments1
Foreign exchange derivatives	3.9		8.5		-		-		12.5
Interest rate derivatives	-		0.8		-		-		0.8
Cash and cash equivalents	-		-		483.4		-		483.4

Balance by category at December 31, 2023	$	7.2	$	9.3	$	1,268.8	$	18.6	$	1,303.9

LONG-TERM FINANCIAL LIABILITIES
Long-term interest-bearing liabilities	$	-	$	-	$	5,940.4	$	-	$	5,940.4
Long-term lease liabilities	-		-		250.4		-		250.4
Other long-term liabilities	-		-		27.6		-		27.6
Derivative financial instruments1
Foreign exchange derivatives	-		1.8		-		-		1.8

CURRENT FINANCIAL LIABILITIES
Current interest-bearing liabilities	-		-		381.0		-		381.0
Current lease liabilities	-		-		89.4		-		89.4
Accounts payable	-		-		426.5		-		426.5
Other current liabilities3	-		-		507.8		-		507.8
Derivative financial instruments1
Foreign exchange derivatives	9.6		21.2		-		-		30.8
Interest rate derivatives	-		0.4		-		-		0.4

Balance by category at December 31, 2023	$	9.6	$	23.4	$	7,623.1	$	-	$	7,656.1


In millions	June 30, 2024		December 31, 2023
2 Other non-interest yielding receivables
Prepaid expenses and other receivables	$	219.2	$	162.3
Less
Other tax receivables	47.1		24.3
Derivative financial instruments	20.7		13.2
Promissory notes	2.9		6.8
Total other non-interest yielding receivables	$	148.5	$	118.0


3 Other current liabilities	$	555.0	$	567.5
Less
Other tax liabilities	42.5		28.5
Derivative financial instruments	10.3		31.2
Total other current liabilities	$	502.2	$	507.8

The following table presents the Group’s financial assets and liabilities that are measured at fair value at June 30, 2024:


	Level 1		Level 2		Level 3		Total
Assets
Financial assets at fair value through profit or loss	$	-	$	8.5	$	-	$	8.5
Derivative financial instruments used in hedge accounting	-		16.1		-		16.1
Other non-current financial assets at fair value through OCI	-		-		49.6		49.6
Total	$	-	$	24.6	$	49.6	$	74.2

Liabilities
Financial liabilities at fair value through profit or loss	$	-	$	2.8	$	-	$	2.8
Derivative financial instruments used in hedge accounting	-		8.7		-		8.7
Total	$	-	$	11.5	$	-	$	11.5

The following table presents the Group’s financial assets and liabilities that are measured at fair value at December 31, 2023:


	Level 1		Level 2		Level 3		Total
Assets
Financial assets at fair value through profit or loss	$	-	$	7.2	$	-	$	7.2
Derivative financial instruments used in hedge accounting	-		9.3		-		9.3
Other non-current financial assets at fair value through OCI	-		-		18.6		18.6
Total	$	-	$	16.5	$	18.6	$	35.1

Liabilities
Financial liabilities at fair value through profit or loss	$	-	$	9.6	$	-	$	9.6
Derivative financial instruments used in hedge accounting	-		23.4		-		23.4
Total	$	-	$	33.0	$	-	$	33.0

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in Level 3. This is the case for unlisted equity securities.

The valuation process and valuation techniques, which are stated in the most recent consolidated annual financial statements, are applicable in the reporting period.

Specific valuation techniques used to value financial instruments include:

•for interest rate swaps – the present value of the estimated future cash flows based on observable yield curves

•for foreign currency forwards – the present value of future cash flows based on the forward exchange rates at the consolidated statement of financial position, and

•for other financial instruments – discounted cash flow analysis.


Type	Valuation technique	Significant unobservable input
Unlisted equity securities	Market comparison approach: fair value of unlisted equity securities is determined by reference to market multiples of comparable listed companies, adjusted by discount for lack of marketability.	(i) Sales growth factor (ii) Risk-adjusted discount rate

Promissory notes	The carrying amount approximates fair value due to the short-term maturity of these instruments and low credit risk of counterparty.	The carrying amount approximates fair value due to the short-term maturity of these instruments and low credit risk of counterparty.

Available-for-sale factoring receivables	The carrying amount approximates fair value due to the short-term maturity of these instruments and low credit risk of counterparty.	The carrying amount approximates fair value due to the short-term maturity of these instruments and low credit risk of counterparty.

The following table presents the changes in Level 3 items during the period:


In millions	Unlisted equity securities		Promissory notes		Available-for-sale factoring receivables		Total
Opening balance January 1, 2024	$	9.2	$	6.8	$	2.6	$	18.6
Additions	-		2.9		37.7		40.6
Disposals	-		(6.8)		(2.6)		(9.4)
Losses recognized in OCI	(0.2)		-		-		(0.2)
Losses recognized in the consolidated statement of income and loss*	-		-		-		-
Closing balance June 30, 2024	$	9.0	$	2.9	$	37.7	$	49.6

(LOSS)/EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2024

Earnings per share [abstract]

(LOSS)/EARNINGS PER SHARE

LOSS)/EARNINGS PER SHARE

The following table presents an overview of the calculated basic and diluted (loss)/earnings per share:


	Three months ended June 30,				Six months ended June 30,
In millions (except for share and (loss)/earnings per share information)	2024		2023		2024		2023
(Loss)/income for the period, attributable to the owners of the Company	$	(3.7)	$	(96.9)	$	1.4	$	(78.0)
Weighted-average number of ordinary shares (basic)	505,249,607		384,499,607		483,672,684		384,499,607
Weighted-average number of ordinary shares (diluted)	505,249,607		384,499,607		486,601,577		384,499,607
(Loss)/earnings per share (basic)	$	(0.01)	$	(0.25)	$	0.00	$	(0.20)
(Loss)/earnings per share (diluted)	$	(0.01)	$	(0.25)	$	0.00	$	(0.20)

SUBSEQUENT EVENTS	6 Months Ended
SUBSEQUENT EVENTS	Jun. 30, 2024
Disclosure of non-adjusting events after reporting period [abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTSManagement has evaluated events subsequent to June 30, 2024 and through August 20, 2024 the date these unaudited condensed interim financial statements were issued. There were no events which occurred subsequent to June 30, 2024 that merited disclosure in these interim financial statements.

SUMMARY OF MATERIAL ACCOUNTING POLICIES (Policies)

6 Months Ended

Jun. 30, 2024

SIGNIFICANT ACCOUNTING POLICIES

Basis of preparation

New and amended standards and interpretations

The Group has applied the following new and revised standards, amendments and interpretations that are required to be applied as of January 1, 2024:

•IAS 1 (amendment): Classification of Liabilities as Current or Non-current, Non-current liabilities with Covenants - no material impact

•IFRS 16 (amendment): Lease liability in a Sale and Leaseback - no material impact

•IAS 7 and IFRS 7 (amendment): Supplier finance arrangements - no material impact

Significant accounting judgments, estimates, and assumptions

The significant judgments made and the estimates used by management have been applied in the same manner as reported in the consolidated financial statements for the year ended December 31, 2023.

Carrying amounts of current financial instruments

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in Level 3. This is the case for unlisted equity securities.

The valuation process and valuation techniques, which are stated in the most recent consolidated annual financial statements, are applicable in the reporting period.

Specific valuation techniques used to value financial instruments include:

•for interest rate swaps – the present value of the estimated future cash flows based on observable yield curves

•for foreign currency forwards – the present value of future cash flows based on the forward exchange rates at the consolidated statement of financial position, and

•for other financial instruments – discounted cash flow analysis.


Type	Valuation technique	Significant unobservable input
Unlisted equity securities	Market comparison approach: fair value of unlisted equity securities is determined by reference to market multiples of comparable listed companies, adjusted by discount for lack of marketability.	(i) Sales growth factor (ii) Risk-adjusted discount rate

Promissory notes	The carrying amount approximates fair value due to the short-term maturity of these instruments and low credit risk of counterparty.	The carrying amount approximates fair value due to the short-term maturity of these instruments and low credit risk of counterparty.

Available-for-sale factoring receivables	The carrying amount approximates fair value due to the short-term maturity of these instruments and low credit risk of counterparty.	The carrying amount approximates fair value due to the short-term maturity of these instruments and low credit risk of counterparty.

SEGMENT REPORTING (Tables)

6 Months Ended

Jun. 30, 2024

Disclosure of operating segments [abstract]

Schedule of information on reportable segments

For the three months ended June 30, 2024


In millions	Technical Apparel		Outdoor Performance		Ball & Racquet Sports		Reconciliation5		Group
Revenue	$	407.3	$	304.0	$	282.5	$	-	$	993.8
Depreciation and amortization	$	27.6	$	25.2	$	8.1	$	1.9	$	62.8

Adjusted operating profit/(loss)	$	57.8	$	(6.5)	$	3.2	$	(25.2)	$	29.3
Adjustments
PPA1									(10.7)
Restructuring expenses2									(8.8)

Expenses related to transaction activities3									(12.2)

Expenses related to share-based incentive plans4									(6.1)
Finance cost									(47.7)

Finance income									2.5
Loss before tax									$	(53.7)

2Includes expenses for restructuring from severance, exit and termination events, and other non-recurring costs from payroll tax audits.

3Includes advisory fees in connection with M&A activities and non-recurring costs associated with the IPO and disposal of businesses.

5Includes corporate expenses, which have not been allocated to the reportable segments.

For the three months ended June 30, 2023


In millions	Technical Apparel		Outdoor Performance		Ball & Racquet Sports		Reconciliation4		Group
Revenue	$	303.0	$	273.6	$	280.2	$	-	$	856.8
Depreciation and amortization	$	20.6	$	23.5	$	6.7	$	1.6	$	52.4

Adjusted operating profit/(loss)	$	39.6	$	(16.2)	$	7.5	$	(10.0)	$	20.9
Adjustments
PPA1									(10.7)
Restructuring expenses2									(0.2)

Expenses related to transaction activities3									(2.5)

Finance cost									(101.1)

Finance income									1.8
Loss before tax									$	(91.8)

2Includes expenses for restructuring from severance, exit and termination events.

3Includes advisory fees in connection with M&A activities and non-recurring costs associated with the IPO and disposal of businesses.

4Includes corporate expenses, which have not been allocated to the reportable segments.

For the six months ended June 30, 2024


In millions	Technical Apparel		Outdoor Performance		Ball & Racquet Sports		Reconciliation5		Group
Revenue	$	917.6	$	704.0	$	555.1	$	-	$	2,176.7
Depreciation and amortization	$	55.6	$	50.5	$	15.7	$	3.5	$	125.3

Adjusted operating profit/(loss)	$	175.1	$	12.8	$	14.0	$	(42.9)	$	159.0
Adjustments
PPA1									(21.4)
Restructuring expenses2									(9.7)

Expenses related to transaction activities3									(18.0)

Expenses related to share-based incentive plans4									(9.4)
Finance cost									(130.0)
Loss on debt extinguishment									(14.3)
Finance income									5.2
Loss before tax									$	(38.6)

2Includes expenses for restructuring from severance, exit and termination events, and other non-recurring costs from payroll tax audits.

3Includes advisory fees in connection with M&A activities and non-recurring costs associated with the IPO and disposal of businesses.

5Includes corporate expenses, which have not been allocated to the reportable segments.

For the six months ended June 30, 2023


In millions	Technical Apparel		Outdoor Performance		Ball & Racquet Sports		Reconciliation4		Group
Revenue	$	658.2	$	651.1	$	597.8	$	-	$	1,907.1
Depreciation and amortization	$	41.1	$	47.2	$	13.0	$	3.1	$	104.4

Adjusted operating profit/(loss)	$	122.7	$	14.9	$	53.3	$	(28.8)	$	162.1
Adjustments
PPA1									(21.4)
Restructuring expenses2									(0.1)

Expenses related to transaction activities3									(2.7)

Finance cost									(187.2)

Finance income									3.1
Loss before tax									$	(46.2)

2Includes expenses for restructuring from severance, exit and termination events.

3Includes advisory fees in connection with M&A activities and non-recurring costs associated with the IPO and disposal of businesses.

4Includes corporate expenses, which have not been allocated to the reportable segments.

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)

6 Months Ended

Jun. 30, 2024

Disclosure of disaggregation of revenue from contracts with customers [abstract]

Schedule of geographic revenues are presented according to customers' location


	Three months ended June 30,				Six months ended June 30,
In millions	2024		2023		2024		2023
EMEA1	$	231.6	$	230.1	$	590.3	$	587.0
Americas2	367.8		365.9		777.3		775.5
Greater China3	288.6		187.6		598.9		393.2
Asia Pacific4	105.8		73.2		210.2		151.4
Total	$	993.8	$	856.8	$	2,176.7	$	1,907.1

Schedule of breakdown of revenue by segments and channels


	Three months ended June 30,				Six months ended June 30,
In millions	2024		2023		2024		2023
Technical Apparel	$	407.3	$	303.0	$	917.6	$	658.2
Outdoor Performance	304.0		273.6		704.0		651.1
Ball & Racquet Sports	282.5		280.2		555.1		597.8
Total	$	993.8	$	856.8	$	2,176.7	$	1,907.1


	Three months ended June 30,				Six months ended June 30,
In millions	2024		2023		2024		2023
Wholesale	$	544.5	$	535.8	$	1,239.0	$	1,238.6
DTC	449.3		321.0		937.7		668.5
Total	$	993.8	$	856.8	$	2,176.7	$	1,907.1

SHARE-BASED PAYMENTS (Tables)

6 Months Ended

Jun. 30, 2024

Disclosure of terms and conditions of share-based payment arrangement [abstract]

Summary of number and weighted-average exercise prices of share options

The following table summarizes the activity of share options under the 2019 ESOP during the six months ended June 30, 2024.


	Number of options	Weighted average exercise price
Outstanding at January 1, 2024	11,499,819	$	9.40
Granted during the year	-	$	—
Forfeited during the year	(491,955)	$	10.74
Exercised during the year	-	$	—

Outstanding at June 30, 2024	11,007,864	$	9.34
Exercisable at June 30, 2024	—	—

The following table summarizes the activity of share options under the 2023 ESOP during the six months ended June 30, 2024.


	Number of options	Weighted average exercise price
Outstanding at January 1, 2024	3,411,636	$	11.68
Granted during the year	-	$	—
Forfeited during the year	(25,887)	$	10.47
Exercised during the year	-	$	—

Outstanding at June 30, 2024	3,385,749	$	11.69
Exercisable at June 30, 2024	—	—

Summary of fair value of option granted


2019 ESOP:	Equity-settled awards Fair value at re-measurement dates:	Cash settled awards remeasured fair value at June 30, 2024
Cash compensation payable of group performance based options	N/A	$0.22 - $4.92
Fair value of underlying share at re-measurement dates	$13.00 - $18.94	N/A
Exercise price	$7.70 - $12.63	N/A
Expected volatility	39.8% - 44.4%	42.2%
Expected life	1.03 - 5.19 years	0.09 - 1.75 years
Expected dividends	0%	0%
Risk-free interest rate	4.0% - 4.8%	4.6%

2023 ESOP:

Equity-settled awards

Fair value at
re-measurement dates:

Cash settled awards remeasured fair value at
June 30, 2024

Cash compensation payable of group performance based options

N/A

$0.23 - $3.69

Fair value of underlying share at re-measurement dates

$13.00 - $18.94

N/A

Exercise price

$7.70 - $14.19

N/A

Expected volatility

39.8% - 43.6%

42.2%

Expected life

1.03 - 3.61 years

0.09 - 1.75 years

Expected dividends

Risk-free interest rate

4.1% - 4.8%

4.6%

Summary of activity in restricted share units and performance share units

The following table summarizes the activity in restricted share units and performance share units for employees and non-employee directors during the six months ended June 30, 2024.


	Restricted Share Units			Performance Share Units
	Number of units	Weighted Average Grant Date Fair Value		Number of units	Weighted Average Grant Date Fair Value
Outstanding at January 1, 2024	-	$	-	-	$	-
Granted during the year	1,090,627	$	13.63	1,993,174	$	14.56
Vested during the year	-	$	-	-	$	-
Forfeited during the year	(5,668)	$	13.64	(6,299)	$	14.55

Outstanding at June 30, 2024	1,084,959	$	13.63	1,986,875	$	14.56

FINANCE INCOME AND COST (Tables)

6 Months Ended

Jun. 30, 2024

FINANCE INCOME AND COST

Schedule of finance income and cost


	Three months ended June 30,				Six months ended June 30,
In millions	2024		2023		2024		2023
Finance income	$	2.5	$	1.8	$	5.2	$	3.1

Finance cost
Interest cost to related parties	-		(58.3)		(21.8)		(107.1)
Interest cost on other interest bearing debt	(42.6)		(39.3)		(89.1)		(74.1)
Exchange rate losses	(0.9)		(1.3)		(12.6)		(1.3)
Other finance cost	(4.2)		(2.2)		(6.5)		(4.7)
	(47.7)		(101.1)		(130.0)		(187.2)

Loss on debt extinguishment	-		-		(14.3)		-
Net finance cost	$	(45.2)	$	(99.3)	$	(139.1)	$	(184.1)

PROPERTY, PLANT AND EQUIPMENT (Tables)

6 Months Ended

Jun. 30, 2024

Disclosure of detailed information about property, plant and equipment [abstract]

Schedule of detail information about property, plant and equipment


In millions	Land		Buildings and constructions		Machinery and equipment		Advances paid and construction in progress		Property, plant and equipment
Initial cost at January 1, 2024	$	35.9	$	374.9	$	457.0	$	74.9	$	942.7
Additions	-		19.5		13.0		60.2		92.7
Disposal of subsidiary	-		-		(6.7)		(0.4)		(7.1)
Disposals	-		(11.0)		(5.9)		-		(16.9)
Transfers	-		41.9		13.8		(55.7)		-
Translation differences	(0.9)		(9.7)		(13.1)		(2.0)		(25.7)
Balance at June 30, 2024	$	35.0	$	415.6	$	458.1	$	77.0	$	985.7
Accumulated depreciation and impairment losses at January 1, 2024	-		201.1		299.7		-		500.8
Depreciation during the period	-		18.6		20.6		-		39.2
Disposal of subsidiary	-		-		(4.3)		-		(4.3)
Disposals	-		(11.0)		(5.9)		-		(16.9)
Transfers	-		-		-		-		-
Translation differences	-		(5.0)		(9.1)		-		(14.1)
Balance at June 30, 2024	-		203.7		301.0		-		504.7
Balance at June 30, 2024	$	35.0	$	211.9	$	157.1	$	77.0	$	481.0

VALUATION PROVISIONS OF INVENTORIES (Tables)

6 Months Ended

Jun. 30, 2024

Classes of current inventories [abstract]

Schedule of gross and net inventories


In millions	June 30, 2024		December 31, 2023
Gross inventories	$	1,275.7	$	1,129.0
Net realizable value valuation provision	(34.7)		(29.4)
Net inventories	$	1,241.0	$	1,099.6


In millions	June 30, 2024		December 31, 2023
Net inventories
Raw materials and consumables	$	39.3	$	45.0
Work in progress	38.2		48.7
Finished goods	1,163.5		1,005.9
Total	$	1,241.0	$	1,099.6

INTEREST-BEARING LIABILITIES (Tables)

6 Months Ended

Jun. 30, 2024

INTEREST-BEARING LIABILITIES

Summary of interest bearing liabilities


In millions	Consolidated statement of financial position value June 30, 2024		Nominal interest rates
Loans from financial institutions	$	2,018.9	Long term 6.75% - 8.58% Short term 8.58%

Lease liabilities	431.5		5.56	%
Other interest-bearing liabilities	26.7		5.53	%
Total	$	2,477.1


In millions	Consolidated statement of financial position value December 31, 2023		Nominal interest rates
Loans from financial institutions	$	2,154.4	Long term 7.65%, Short term 6.68% - 8.10%
Loans from related parties	4,077.0		5.68%, 8.20%
Lease liabilities	339.8		5.24	%
Other interest-bearing liabilities	90.0		7.86	%
Total	$	6,661.2

OTHER LIABILITIES (Tables)

6 Months Ended

Jun. 30, 2024

OTHER LIABILITIES

Schedule of current other liabilities


In millions	June 30, 2024		December 31, 2023
Related to financing activities:
Accrued interest	$	33.1	$	33.0
Payables related to derivatives	10.3		31.2
Related to operating and other activities:
Liabilities for share-based payments	2.3		18.5
Accrued personnel costs	156.3		148.0
Accrued advertising and promotions	51.4		57.3
Refund liabilities	31.7		35.5
Value-added taxes	33.3		25.7
Goods received not invoiced	31.4		25.7
Contract liabilities	25.0		25.0
Accrued royalties	8.4		8.5
Other accrued liabilities	171.8		159.2
Total	$	555.0	$	567.5

PROVISIONS (Tables)

6 Months Ended

Jun. 30, 2024

Classes of other provisions [abstract]

Schedule of provisions


In millions	Product warranty		Restructuring		Other		Total
Balance at January 1, 2024	$	24.2	$	2.2	$	9.0	$	35.4
Translation differences	(0.6)		-		(0.6)		(1.2)
Provisions made during the period	2.6		7.9		0.4		10.9
Provisions used during the period	(2.8)		(7.7)		(0.4)		(10.9)
Provisions reversed during the period	(0.6)		-		-		(0.6)
Balance at June 30, 2024	$	22.8	$	2.4	$	8.4	$	33.6

Long-term provisions							$	5.4
Current provisions							28.2
Total							$	33.6

COMMITMENTS (Tables)

6 Months Ended

Jun. 30, 2024

Capital commitments [abstract]

Schedule of disclosure of commitment


In millions	June 30, 2024		December 31, 2023
Guarantees	$	20.1	$	15.7
Other commitments	320.6		210.7

RELATED PARTY TRANSACTIONS (Tables)

6 Months Ended

Jun. 30, 2024

Disclosure of transactions between related parties [abstract]

The Company's transactions with ANTA Sports comprise the following:


	Three months ended June 30,				Six months ended June 30,
In millions	2024		2023		2024		2023
Purchases of goods and services from ANTA Sports and subsidiaries	$	11.0	$	6.5	$	12.9	$	12.8
Sales to ANTA Sports and subsidiaries	8.4		0.2		10.8		0.2

The Company was granted the following long-term loans from the parent company Amer Sports Holding (Cayman) Limited:


In millions	June 30, 2024		December 31, 2023
Long-term loans from the parent company:
Investment Loan	$	-	$	2,641.0
Facility A Loan	-		1,436.5
Total	$	-	$	4,077.5

At the Group level, the loan was netted by upfront fees related to the aforementioned loan.

	Three months ended June 30,				Six months ended June 30,
In millions	2024		2023		2024		2023
Interest expenses to the parent company:
Investment Loan	$	-	$	52.9	$	19.1	$	97.1
Facility A Loan	-		5.4		2.5		10.0
Total	$	-	$	58.3	$	21.6	$	107.1


In millions	June 30, 2024		December 31, 2023
ANTA Sports and subsidiaries
Current payables (purchases of goods and services)	$	7.6	$	6.3
Current receivables (sales of goods)	6.3		-
Amer Sports Holding (Cayman) Limited
Accounts receivable, net	-		18.0
Other receivables	-		13.3
Key management personnel
Provisions short and long-term incentive	11.2		17.9
Amer Sports Management Company (Cayman) Limited
Loans from related parties taken in 2022	-		11.9
Interest expenses	-		0.8
Low Tide Properties Ltd.
Right-of-use asset / Lease liability	0.8		0.9

Schedule of compensation to key management recognized

Compensation to key management recognized in earnings:


	Three months ended June 30,				Six months ended June 30,
In millions	2024		2023		2024		2023
Salaries and other short-term employee benefits	$	5.1	$	3.4	$	11.7	$	6.4
Post-employment benefits	0.1		0.1		0.3		0.3
Expenses related to share-based incentive plans1	5.9		-		13.6		-
Other long-term benefits	-		-		0.1		0.1
Total	$	11.1	$	3.5	$	25.7	$	6.8

1Includes expenses for the share-based payments and for fixed cash compensation on stock options vested at period end.

BALANCE SHEET VALUES OF FINANCIAL ASSETS AND LIABILITIES BY MEASUREMENT CATEGORIES (Tables)

6 Months Ended

Jun. 30, 2024

Disclosure of detailed information about financial instruments [abstract]

Schedule of financial assets and liabilities by measurement categories


June 30, 2024	Financial assets/ liabilities at fair value through profit and loss		Derivative financial instruments used in cash flow hedge accounting		Financial assets/ liabilities measured at amortized cost		Financial assets at fair value through OCI		Carrying amount by balance sheet item

In millions
NON-CURRENT FINANCIAL ASSETS
Other non-current financial assets	$	-	$	-	$	52.8	$	9.0	$	61.8
Derivative financial instruments1
Foreign exchange derivatives	3.8		0.1		-		-		3.9


CURRENT FINANCIAL ASSETS
Hold-to-collect accounts receivable	-		-		387.8		-		387.8
Available-for-sale factoring receivables	-		-		-		37.7		37.7
Other non-interest yielding receivables2	-		-		148.5		-		148.5
Promissory notes2	-		-		-		2.9		2.9
Derivative financial instruments1
Foreign exchange derivatives	4.7		16.0		-		-		20.7
Interest rate derivatives	-		-		-		-		-
Cash and cash equivalents	-		-		255.9		-		255.9

Balance by category at June 30, 2024	$	8.5	$	16.1	$	845.0	$	49.6	$	919.2

LONG-TERM FINANCIAL LIABILITIES
Long-term interest-bearing liabilities	$	-	$	-	$	2,013.9	$	-	$	2,013.9
Long-term lease liabilities	-		-		329.8		-		329.8
Other long-term liabilities	-		-		21.7		-		21.7
Derivative financial instruments1
Foreign exchange derivatives	-		0.1		-		-		0.1
Interest rate derivatives	-		1.2		-		-		1.2

CURRENT FINANCIAL LIABILITIES
Current interest-bearing liabilities	-		-		31.6		-		31.6
Current lease liabilities	-		-		101.7		-		101.7
Accounts payable	-		-		454.3		-		454.3
Other current liabilities3	-		-		502.2		-		502.2
Derivative financial instruments1
Foreign exchange derivatives	2.8		6.7		-		-		9.5
Interest rate derivatives	-		0.7		-		-		0.7

Balance by category at June 30, 2024	$	2.8	$	8.7	$	3,455.2	$	-	$	3,466.7


December 31, 2023	Financial assets/ liabilities at fair value through profit and loss		Derivative financial instruments used in cash flow hedge accounting		Financial assets/ liabilities measured at amortized cost		Financial assets at fair value through OCI		Carrying amount by balance sheet item

In millions
NON-CURRENT FINANCIAL ASSETS
Other non-current financial assets	$	-	$	-	$	70.2	$	9.2	$	79.4
Derivative financial instruments1
Interest rate derivatives	3.3		-		-		-		3.3

CURRENT FINANCIAL ASSETS
Hold-to-collect accounts receivable	-		-		597.2		-		597.2
Available-for-sale factoring receivables	-		-		-		2.6		2.6
Other non-interest yielding receivables2	-		-		118.0		-		118.0
Promissory notes2	-		-		-		6.8		6.8
Derivative financial instruments1
Foreign exchange derivatives	3.9		8.5		-		-		12.5
Interest rate derivatives	-		0.8		-		-		0.8
Cash and cash equivalents	-		-		483.4		-		483.4

Balance by category at December 31, 2023	$	7.2	$	9.3	$	1,268.8	$	18.6	$	1,303.9

LONG-TERM FINANCIAL LIABILITIES
Long-term interest-bearing liabilities	$	-	$	-	$	5,940.4	$	-	$	5,940.4
Long-term lease liabilities	-		-		250.4		-		250.4
Other long-term liabilities	-		-		27.6		-		27.6
Derivative financial instruments1
Foreign exchange derivatives	-		1.8		-		-		1.8

CURRENT FINANCIAL LIABILITIES
Current interest-bearing liabilities	-		-		381.0		-		381.0
Current lease liabilities	-		-		89.4		-		89.4
Accounts payable	-		-		426.5		-		426.5
Other current liabilities3	-		-		507.8		-		507.8
Derivative financial instruments1
Foreign exchange derivatives	9.6		21.2		-		-		30.8
Interest rate derivatives	-		0.4		-		-		0.4

Balance by category at December 31, 2023	$	9.6	$	23.4	$	7,623.1	$	-	$	7,656.1


In millions	June 30, 2024		December 31, 2023
2 Other non-interest yielding receivables
Prepaid expenses and other receivables	$	219.2	$	162.3
Less
Other tax receivables	47.1		24.3
Derivative financial instruments	20.7		13.2
Promissory notes	2.9		6.8
Total other non-interest yielding receivables	$	148.5	$	118.0


3 Other current liabilities	$	555.0	$	567.5
Less
Other tax liabilities	42.5		28.5
Derivative financial instruments	10.3		31.2
Total other current liabilities	$	502.2	$	507.8

Schedule of fair value of financial assets and liabilities

The following table presents the Group’s financial assets and liabilities that are measured at fair value at June 30, 2024:


	Level 1		Level 2		Level 3		Total
Assets
Financial assets at fair value through profit or loss	$	-	$	8.5	$	-	$	8.5
Derivative financial instruments used in hedge accounting	-		16.1		-		16.1
Other non-current financial assets at fair value through OCI	-		-		49.6		49.6
Total	$	-	$	24.6	$	49.6	$	74.2

Liabilities
Financial liabilities at fair value through profit or loss	$	-	$	2.8	$	-	$	2.8
Derivative financial instruments used in hedge accounting	-		8.7		-		8.7
Total	$	-	$	11.5	$	-	$	11.5

The following table presents the Group’s financial assets and liabilities that are measured at fair value at December 31, 2023:


	Level 1		Level 2		Level 3		Total
Assets
Financial assets at fair value through profit or loss	$	-	$	7.2	$	-	$	7.2
Derivative financial instruments used in hedge accounting	-		9.3		-		9.3
Other non-current financial assets at fair value through OCI	-		-		18.6		18.6
Total	$	-	$	16.5	$	18.6	$	35.1

Liabilities
Financial liabilities at fair value through profit or loss	$	-	$	9.6	$	-	$	9.6
Derivative financial instruments used in hedge accounting	-		23.4		-		23.4
Total	$	-	$	33.0	$	-	$	33.0

Schedule of Fair Value Valuation Techniques


Type	Valuation technique	Significant unobservable input
Unlisted equity securities	Market comparison approach: fair value of unlisted equity securities is determined by reference to market multiples of comparable listed companies, adjusted by discount for lack of marketability.	(i) Sales growth factor (ii) Risk-adjusted discount rate

Promissory notes	The carrying amount approximates fair value due to the short-term maturity of these instruments and low credit risk of counterparty.	The carrying amount approximates fair value due to the short-term maturity of these instruments and low credit risk of counterparty.

Available-for-sale factoring receivables	The carrying amount approximates fair value due to the short-term maturity of these instruments and low credit risk of counterparty.	The carrying amount approximates fair value due to the short-term maturity of these instruments and low credit risk of counterparty.

Schedule of changes in Level 3 items in financial instruments

The following table presents the changes in Level 3 items during the period:


In millions	Unlisted equity securities		Promissory notes		Available-for-sale factoring receivables		Total
Opening balance January 1, 2024	$	9.2	$	6.8	$	2.6	$	18.6
Additions	-		2.9		37.7		40.6
Disposals	-		(6.8)		(2.6)		(9.4)
Losses recognized in OCI	(0.2)		-		-		(0.2)
Losses recognized in the consolidated statement of income and loss*	-		-		-		-
Closing balance June 30, 2024	$	9.0	$	2.9	$	37.7	$	49.6

(LOSS)/EARNINGS PER SHARE (Tables)

6 Months Ended

Jun. 30, 2024

Earnings per share [abstract]

Schedule of basic and diluted loss per share

The following table presents an overview of the calculated basic and diluted (loss)/earnings per share:


	Three months ended June 30,				Six months ended June 30,
In millions (except for share and (loss)/earnings per share information)	2024		2023		2024		2023
(Loss)/income for the period, attributable to the owners of the Company	$	(3.7)	$	(96.9)	$	1.4	$	(78.0)
Weighted-average number of ordinary shares (basic)	505,249,607		384,499,607		483,672,684		384,499,607
Weighted-average number of ordinary shares (diluted)	505,249,607		384,499,607		486,601,577		384,499,607
(Loss)/earnings per share (basic)	$	(0.01)	$	(0.25)	$	0.00	$	(0.20)
(Loss)/earnings per share (diluted)	$	(0.01)	$	(0.25)	$	0.00	$	(0.20)

THE COMPANY (Details) $ / shares in Units, $ in Millions				6 Months Ended
THE COMPANY (Details) $ / shares in Units, $ in Millions	Feb. 08, 2024 USD ($) $ / shares shares	Feb. 06, 2024 USD ($) $ / shares shares	Feb. 05, 2024 USD ($)	Jun. 30, 2024 USD ($) country	Jun. 30, 2023 USD ($)	Feb. 04, 2024 shares	Jan. 31, 2024 $ / shares shares
THE COMPANY
Number of countries having sales network \| country				34
SHAREHOLDER'S EQUITY (DEFICIT)
Ordinary shares issued (in shares) \| shares	505,249,607					384,499,607
Proceeds from share issuance \| $				$ 1,514.8	$ 0.0
IPO
SHAREHOLDER'S EQUITY (DEFICIT)
Ordinary shares issued (in shares) \| shares							105,000,000
Share price (in USD per share) \| $ / shares							$ 13.00
Proceeds from share issuance \| $			$ 1,370.0
Overallotment option
SHAREHOLDER'S EQUITY (DEFICIT)
Ordinary shares issued (in shares) \| shares	7,875,000	7,875,000
Share price (in USD per share) \| $ / shares	$ 13.00	$ 13.00
Proceeds from share issuance \| $	$ 102.4	$ 102.4

SEGMENT REPORTING - Narrative (Details) - segment	6 Months Ended	12 Months Ended
SEGMENT REPORTING - Narrative (Details) - segment	Jun. 30, 2024	Dec. 31, 2023
Disclosure of operating segments [abstract]
Number of reportable segments	3
Majority percentage of non-current assets	75.40%	77.50%

SEGMENT REPORTING - Information on reportable segments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
SEGMENT REPORTING
Revenue	$ 993.8	$ 856.8	$ 2,176.7	$ 1,907.1
Adjusted operating profit/(loss)	(8.5)	7.5	100.5	137.9
Finance cost	(47.7)	(101.1)	(130.0)	(187.2)
Loss on debt extinguishment	0.0	0.0	14.3	0.0
Finance income	2.5	1.8	5.2	3.1
Loss before tax	(53.7)	(91.8)	(38.6)	(46.2)
Operating segment
SEGMENT REPORTING
Revenue	304.0	273.6	704.0	651.1
Depreciation and amortization	25.2	23.5	50.5	47.2
Adjusted operating profit/(loss)	(6.5)	(16.2)	12.8	14.9
Reconilation
SEGMENT REPORTING
Depreciation and amortization	1.9	1.6	3.5	3.1
Adjusted operating profit/(loss)	(25.2)	(10.0)	(42.9)	(28.8)
Group
SEGMENT REPORTING
Revenue	993.8	856.8	2,176.7	1,907.1
Depreciation and amortization	62.8	52.4	125.3	104.4
Adjusted operating profit/(loss)	29.3	20.9	159.0	162.1
PPA	(10.7)	(10.7)	(21.4)	(21.4)
Restructuring expenses	(8.8)	(0.2)	(9.7)	(0.1)
Expenses related to M&A activities	(12.2)	(2.5)	(18.0)	(2.7)
Expenses related to share-based incentive plans	(6.1)		(9.4)
Finance cost	(47.7)	(101.1)	(130.0)	(187.2)
Loss on debt extinguishment			(14.3)
Finance income	2.5	1.8	5.2	3.1
Loss before tax	(53.7)	(91.8)	(38.6)	(46.2)
Technical Apparel \| Operating segment
SEGMENT REPORTING
Revenue	407.3	303.0	917.6	658.2
Depreciation and amortization	27.6	20.6	55.6	41.1
Adjusted operating profit/(loss)	57.8	39.6	175.1	122.7
Ball & Racquet Sports \| Operating segment
SEGMENT REPORTING
Revenue	282.5	280.2	555.1	597.8
Depreciation and amortization	8.1	6.7	15.7	13.0
Adjusted operating profit/(loss)	$ 3.2	$ 7.5	$ 14.0	$ 53.3

REVENUE FROM CONTRACTS WITH CUSTOMERS - Geographic breakdown of revenues (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	$ 993.8	$ 856.8	$ 2,176.7	$ 1,907.1
EMEA
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	231.6	230.1	590.3	587.0
Americas
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	367.8	365.9	777.3	775.5
Greater China
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	288.6	187.6	598.9	393.2
Asia Pacific
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	$ 105.8	$ 73.2	$ 210.2	$ 151.4
United States
Disclosure of disaggregation of revenue from contracts with customers [line items]
Percentage of revenue	27.00%	33.00%	27.00%	32.00%
Mainland China
Disclosure of disaggregation of revenue from contracts with customers [line items]
Percentage of revenue	28.00%	21.00%	26.00%	19.00%

REVENUE FROM CONTRACTS WITH CUSTOMERS - Revenues by segments and channels (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	$ 993.8	$ 856.8	$ 2,176.7	$ 1,907.1
Wholesale
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	449.3	321.0	937.7	668.5
DTC
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	544.5	535.8	1,239.0	1,238.6
Technical Apparel
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	407.3	303.0	917.6	658.2
Outdoor Performance
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	304.0	273.6	704.0	651.1
Ball & Racquet Sports
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	$ 282.5	$ 280.2	$ 555.1	$ 597.8

REVENUE FROM CONTRACTS WITH CUSTOMERS - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Disclosure of disaggregation of revenue from contracts with customers [abstract]
Contract liabilities amount	$ 25.0	$ 25.0

SHARE-BASED PAYMENTS - Narratives (Details)		6 Months Ended	12 Months Ended
SHARE-BASED PAYMENTS - Narratives (Details)	Jan. 31, 2024 shares	Jun. 30, 2024 shares	Dec. 31, 2023
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of shares authorized (in shares)		2,495,175,000
Time vested options
Disclosure of terms and conditions of share-based payment arrangement [line items]
Percentage of option granted		0.35
Group performance based options
Disclosure of terms and conditions of share-based payment arrangement [line items]
Percentage of option granted		0.65
Restricted Share Units
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting period	3 years
ESOP 2019
Disclosure of terms and conditions of share-based payment arrangement [line items]
Percentage of option granted		0.030
Vesting term		5 years
Remaining contractual life of outstanding shares		5 years 6 months	6 years
ESOP 2023
Disclosure of terms and conditions of share-based payment arrangement [line items]
Percentage of option granted		0.012
Vesting term		3 years
Remaining contractual life of outstanding shares		5 years 6 months	6 years
2024 Omnibus Incentive Plan
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of shares authorized (in shares)	38,759,968

SHARE-BASED PAYMENTS - Number and weighted-average exercise prices of share options (Details)	6 Months Ended
	Jun. 30, 2024 shares $ / shares
ESOP 2019
Number of options
Outstanding, beginning balance (in shares) \| shares	11,499,819
Granted during the year (in shares) \| shares	0
Forfeited during the year (in shares) \| shares	(491,955)
Exercised during the year (in shares) \| shares	0
Outstanding, ending balance (in shares) \| shares	11,007,864
Exercisable (in shares) \| shares	0
Weighted average exercise price
Outstanding, beginning balance (in USD per share) \| $ / shares	$ 9.40
Granted during the year (in USD per share) \| $ / shares	0
Forfeited during the year (in USD per share) \| $ / shares	10.74
Exercised during the year (in USD per share) \| $ / shares	0
Outstanding, ending balance (in USD per share) \| $ / shares	9.34
Exercisable (in USD per share) \| $ / shares	$ 0
ESOP 2023
Number of options
Outstanding, beginning balance (in shares) \| shares	3,411,636
Granted during the year (in shares) \| shares	0
Forfeited during the year (in shares) \| shares	(25,887)
Exercised during the year (in shares) \| shares	0
Outstanding, ending balance (in shares) \| shares	3,385,749
Exercisable (in shares) \| shares	0
Weighted average exercise price
Outstanding, beginning balance (in USD per share) \| $ / shares	$ 11.68
Granted during the year (in USD per share) \| $ / shares	0
Forfeited during the year (in USD per share) \| $ / shares	10.47
Exercised during the year (in USD per share) \| $ / shares	0
Outstanding, ending balance (in USD per share) \| $ / shares	11.69
Exercisable (in USD per share) \| $ / shares	$ 0

SHARE-BASED PAYMENTS - Fair value of options granted (Details)	6 Months Ended
	Jun. 30, 2024 Y $ / shares
ESOP 2019 \| Equity Settled
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected dividends	0.00%
ESOP 2019 \| Equity Settled \| Minimum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Fair value of underlying share at re-measurement dates (in USD per share)	$ 13.00
Exercise price (in USD per share)	$ 7.70
Expected volatility	39.80%
Expected life \| Y	1.03
Risk-free interest rate	4.00%
ESOP 2019 \| Equity Settled \| Maximum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Fair value of underlying share at re-measurement dates (in USD per share)	$ 18.94
Exercise price (in USD per share)	$ 12.63
Expected volatility	44.40%
Expected life \| Y	5.19
Risk-free interest rate	4.80%
ESOP 2019 \| Cash Settled
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility	42.20%
Expected dividends	0.00%
Risk-free interest rate	4.60%
ESOP 2019 \| Cash Settled \| Minimum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected life \| Y	0.09
ESOP 2019 \| Cash Settled \| Maximum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected life \| Y	1.75
ESOP 2019 \| Group Performance Based Cash-settled Options \| Minimum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Cash compensation payable of group performance based options (in USD per share)	$ 0.22
ESOP 2019 \| Group Performance Based Cash-settled Options \| Maximum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Cash compensation payable of group performance based options (in USD per share)	$ 4.92
ESOP 2023 \| Equity Settled
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected dividends	0.00%
ESOP 2023 \| Equity Settled \| Minimum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Fair value of underlying share at re-measurement dates (in USD per share)	$ 13.00
Exercise price (in USD per share)	$ 7.70
Expected volatility	39.80%
Expected life \| Y	1.03
Risk-free interest rate	4.10%
ESOP 2023 \| Equity Settled \| Maximum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Fair value of underlying share at re-measurement dates (in USD per share)	$ 18.94
Exercise price (in USD per share)	$ 14.19
Expected volatility	43.60%
Expected life \| Y	3.61
Risk-free interest rate	4.80%
ESOP 2023 \| Cash Settled
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility	42.20%
Expected dividends	0.00%
Risk-free interest rate	4.60%
ESOP 2023 \| Cash Settled \| Minimum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected life \| Y	0.09
ESOP 2023 \| Cash Settled \| Maximum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected life \| Y	1.75
ESOP 2023 \| Group Performance Based Cash-settled Options \| Minimum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Cash compensation payable of group performance based options (in USD per share)	$ 0.23
ESOP 2023 \| Group Performance Based Cash-settled Options \| Maximum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Cash compensation payable of group performance based options (in USD per share)	$ 3.69

SHARE-BASED PAYMENTS - Number and Weighted-average exercise prices of equity instruments other than options (Details) $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($) shares $ / shares
Restricted Share Units and Performance Share Units
Weighted Average Grant Date Fair Value
Expenses related to share-based incentive plans \| $	$ 3.9
Restricted Share Units
Number of units
Outstanding, beginning balance (in shares) \| shares	0
Granted during the year (in shares) \| shares	1,090,627
Vested during the year (in shares) \| shares	0
Forfeited during the year (in shares) \| shares	(5,668)
Outstanding, ending balance (in shares) \| shares	1,084,959
Weighted Average Grant Date Fair Value
Outstanding, beginning balance (in USD per share) \| $ / shares	$ 0
Granted during the year (in USD per share) \| $ / shares	13.63
Vested during the year (in USD per share) \| $ / shares	0
Forfeited during the year (in USD per share) \| $ / shares	13.64
Outstanding, beginning balance (in USD per share) \| $ / shares	$ 13.63
Performance Share Units
Number of units
Outstanding, beginning balance (in shares) \| shares	0
Granted during the year (in shares) \| shares	1,993,174
Vested during the year (in shares) \| shares	0
Forfeited during the year (in shares) \| shares	(6,299)
Outstanding, ending balance (in shares) \| shares	1,986,875
Weighted Average Grant Date Fair Value
Outstanding, beginning balance (in USD per share) \| $ / shares	$ 0
Granted during the year (in USD per share) \| $ / shares	14.56
Vested during the year (in USD per share) \| $ / shares	0
Forfeited during the year (in USD per share) \| $ / shares	14.55
Outstanding, beginning balance (in USD per share) \| $ / shares	$ 14.56

FINANCE INCOME AND COST - Schedule of finance and income cost (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
FINANCE INCOME AND COST
Finance income	$ 2.5	$ 1.8	$ 5.2	$ 3.1
Finance cost
Interest cost to related parties	0.0	(58.3)	(21.8)	(107.1)
Interest cost on other interest bearing debt	(42.6)	(39.3)	(89.1)	(74.1)
Exchange rate losses	(0.9)	(1.3)	(12.6)	(1.3)
Other finance cost	(4.2)	(2.2)	(6.5)	(4.7)
Total Finance cost	(47.7)	(101.1)	(130.0)	(187.2)
Loss on debt extinguishment	0.0	0.0	(14.3)	0.0
Net finance cost	$ (45.2)	$ (99.3)	$ (139.1)	$ (184.1)

FINANCE INCOME AND COST - Narrative (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
	Feb. 16, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disclosure of detailed information about borrowings [line items]
Loss on debt extinguishment		$ 0.0	$ 0.0	$ (14.3)	$ 0.0
Losses related to contract costs from IPO				18.0
Old term loan facility
Disclosure of detailed information about borrowings [line items]
Carrying amount of loan repaid senior facilities agreement	$ 1,860.0			1,860.0
Bilateral Facility Standard Chartered
Disclosure of detailed information about borrowings [line items]
Carrying amount of loan repaid senior facilities agreement	90.0			90.0
Old revolving credit facility
Disclosure of detailed information about borrowings [line items]
Carrying amount of loan repaid senior facilities agreement	$ 291.0			$ 291.0

INCOME TAXES (Details) - USD ($) $ in Millions	6 Months Ended
INCOME TAXES (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Major components of tax expense (income) [abstract]
Effective tax rate	113.00%	(69.00%)
Discrete tax benefit	$ 19.9
Provision adjustment	$ 11.8

PROPERTY, PLANT AND EQUIPMENT (Details) $ in Millions	6 Months Ended
PROPERTY, PLANT AND EQUIPMENT (Details) $ in Millions	Jun. 30, 2024 USD ($)
Significant Accounting Policies
Balance at the beginning	$ 441.9
Balance at the end	481.0
Gross inventories
Significant Accounting Policies
Balance at the beginning	942.7
Additions	92.7
Disposal of subsidiary	7.1
Disposals	16.9
Transfers	0.0
Translation differences	(25.7)
Balance at the end	985.7
Accumulated depreciation and impairment losses
Significant Accounting Policies
Balance at the beginning	(500.8)
Depreciation during the period	39.2
Disposal of subsidiary	(4.3)
Disposals	(16.9)
Transfers	0.0
Translation differences	14.1
Balance at the end	(504.7)
Land
Significant Accounting Policies
Balance at the end	35.0
Land \| Gross inventories
Significant Accounting Policies
Balance at the beginning	35.9
Additions	0.0
Disposal of subsidiary	0.0
Disposals	0.0
Transfers	0.0
Translation differences	(0.9)
Balance at the end	35.0
Land \| Accumulated depreciation and impairment losses
Significant Accounting Policies
Balance at the beginning	0.0
Depreciation during the period	0.0
Disposal of subsidiary	0.0
Disposals	0.0
Transfers	0.0
Translation differences	0.0
Balance at the end	0.0
Buildings and constructions
Significant Accounting Policies
Balance at the end	211.9
Buildings and constructions \| Gross inventories
Significant Accounting Policies
Balance at the beginning	374.9
Additions	19.5
Disposal of subsidiary	0.0
Disposals	11.0
Transfers	41.9
Translation differences	(9.7)
Balance at the end	415.6
Buildings and constructions \| Accumulated depreciation and impairment losses
Significant Accounting Policies
Balance at the beginning	(201.1)
Depreciation during the period	18.6
Disposal of subsidiary	0.0
Disposals	(11.0)
Transfers	0.0
Translation differences	5.0
Balance at the end	(203.7)
Machinery and equipment
Significant Accounting Policies
Balance at the end	157.1
Machinery and equipment \| Gross inventories
Significant Accounting Policies
Balance at the beginning	457.0
Additions	13.0
Disposal of subsidiary	6.7
Disposals	5.9
Transfers	13.8
Translation differences	(13.1)
Balance at the end	458.1
Machinery and equipment \| Accumulated depreciation and impairment losses
Significant Accounting Policies
Balance at the beginning	(299.7)
Depreciation during the period	20.6
Disposal of subsidiary	(4.3)
Disposals	(5.9)
Transfers	0.0
Translation differences	9.1
Balance at the end	(301.0)
Advances paid and construction in progress
Significant Accounting Policies
Balance at the end	77.0
Advances paid and construction in progress \| Gross inventories
Significant Accounting Policies
Balance at the beginning	74.9
Additions	60.2
Disposal of subsidiary	0.4
Disposals	0.0
Transfers	(55.7)
Translation differences	(2.0)
Balance at the end	77.0
Advances paid and construction in progress \| Accumulated depreciation and impairment losses
Significant Accounting Policies
Balance at the beginning	0.0
Depreciation during the period	0.0
Disposal of subsidiary	0.0
Disposals	0.0
Transfers	0.0
Translation differences	0.0
Balance at the end	$ 0.0

VALUATION PROVISIONS OF INVENTORIES - Schedule of Gross Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Schedule of Inventory Disclosure [Line Items]
Net inventories	$ 1,241.0	$ 1,099.6
Gross inventories
Schedule of Inventory Disclosure [Line Items]
Net inventories	1,275.7	1,129.0
Net realizable value valuation provision
Schedule of Inventory Disclosure [Line Items]
Net inventories	$ (34.7)	$ (29.4)

VALUATION PROVISIONS OF INVENTORIES - Schedule of Net Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Net Inventories
Raw materials and consumables	$ 39.3	$ 45.0
Work in progress	38.2	48.7
Finished goods	1,163.5	1,005.9
Total	$ 1,241.0	$ 1,099.6

SHAREHOLDER'S EQUITY (DEFICIT) (Details) € / shares in Units, $ in Millions	Feb. 04, 2024 USD ($) vote shares	Feb. 04, 2024 EUR (€) vote shares	Jun. 30, 2024 USD ($) shares	Jun. 30, 2024 EUR (€) € / shares shares	Feb. 08, 2024 shares	Dec. 31, 2023 USD ($) shares
SHAREHOLDER'S EQUITY (DEFICIT)
Authorized share capital \| €				€ 75,000,000
Number of shares authorized (in shares)			2,495,175,000	2,495,175,000
Par value of share (in EUR per share) \| € / shares				€ 0.0300580119630888
Number of shares outstanding (in shares)	384,499,607	384,499,607	505,249,607	505,249,607	505,249,607
Share capital \| $			$ 16.9			$ 642.2
Number of votes per common shares \| vote	1	1
Share split ratio	3.3269	3.3269
Ordinary shares issued (in shares)	384,499,607	384,499,607			505,249,607
Parent company (Amer Sports Holding (Cayman) Limited)
SHAREHOLDER'S EQUITY (DEFICIT)
Amount of loan equitized	$ 2,540.0	€ 2,300,000,000
Class A Share Capital
SHAREHOLDER'S EQUITY (DEFICIT)
Number of shares outstanding (in shares)						115,220,745
Class B Share Capital
SHAREHOLDER'S EQUITY (DEFICIT)
Number of shares outstanding (in shares)						352,193

INTEREST-BEARING LIABILITIES -Schedule of interest-bearing liabilities (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
INTEREST-BEARING LIABILITIES
Financial Liabilities	$ 502.2	$ 507.8
Liquidity risk
INTEREST-BEARING LIABILITIES
Financial Liabilities	2,477.1	6,661.2
Liquidity risk \| Loans from financial institutions
INTEREST-BEARING LIABILITIES
Financial Liabilities	$ 2,018.9	$ 2,154.4
Liquidity risk \| Loans from financial institutions \| Long term
INTEREST-BEARING LIABILITIES
Nominal interest rates	6.75%	7.65%
Liquidity risk \| Loans from financial institutions \| Short term \| Minimum
INTEREST-BEARING LIABILITIES
Nominal interest rates	8.58%	6.68%
Liquidity risk \| Loans from financial institutions \| Short term \| Maximum
INTEREST-BEARING LIABILITIES
Nominal interest rates	8.58%	8.10%
Liquidity risk \| Loans from related parties
INTEREST-BEARING LIABILITIES
Financial Liabilities		$ 4,077.0
Liquidity risk \| Loans from related parties \| Long term
INTEREST-BEARING LIABILITIES
Nominal interest rates		5.68%
Liquidity risk \| Loans from related parties \| Short term
INTEREST-BEARING LIABILITIES
Nominal interest rates		8.20%
Liquidity risk \| Lease liabilities
INTEREST-BEARING LIABILITIES
Financial Liabilities	$ 431.5	$ 339.8
Nominal interest rates	5.56%	5.24%
Liquidity risk \| Other interest-bearing liabilities
INTEREST-BEARING LIABILITIES
Financial Liabilities	$ 26.7	$ 90.0
Nominal interest rates	5.53%	7.86%

INTEREST-BEARING LIABILITIES - Narrative (Details) € in Millions, $ in Millions		6 Months Ended
	Feb. 16, 2024 USD ($)	Jun. 30, 2024 USD ($)	Feb. 16, 2024 EUR (€)
7-year USD 500 million term loan facility
INTEREST-BEARING LIABILITIES
Duration of the loans	7 years
Loan amount	$ 500
7-year EUR 700 million term loan facility
INTEREST-BEARING LIABILITIES
Duration of the loans	7 years
Loan amount \| €			€ 700
USD 710 million 5-year revolving credit facility
INTEREST-BEARING LIABILITIES
Duration of the loans	5 years
Loan amount	$ 710
USD 800 million of 6.750% new senior secured notes
INTEREST-BEARING LIABILITIES
Loan amount	$ 800
Interest rate	6.75%		6.75%
Old term loan facility
INTEREST-BEARING LIABILITIES
Carrying amount of loan repaid senior facilities agreement	$ 1,860	$ 1,860
Bilateral Facility Standard Chartered
INTEREST-BEARING LIABILITIES
Carrying amount of loan repaid senior facilities agreement	90	90
Old revolving credit facility
INTEREST-BEARING LIABILITIES
Carrying amount of loan repaid senior facilities agreement	$ 291	$ 291

OTHER LIABILITIES (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Related to financing activities:
Accrued interest	$ 33.1	$ 33.0
Payables related to derivatives	10.3	31.2
Related to operating and other activities:
Liabilities for share-based payments	2.3	18.5
Accrued personnel costs	156.3	148.0
Accrued advertising and promotions	51.4	57.3
Refund liabilities	31.7	35.5
Value-added taxes	33.3	25.7
Goods received not invoiced	31.4	25.7
Contract liabilities	25.0	25.0
Accrued royalties	8.4	8.5
Other accrued liabilities	171.8	159.2
Total	$ 555.0	$ 567.5

PROVISIONS (Details) $ in Millions	6 Months Ended
PROVISIONS (Details) $ in Millions	Jun. 30, 2024 USD ($)
PROVISIONS
Balance at beginning	$ 35.4
Changes in other provisions [abstract]
Translation differences	(1.2)
Provisions made during the period	10.9
Provisions used during the period	(10.9)
Provisions reversed during the period	(0.6)
Balance at ending	33.6
Long-term provisions	5.4
Current provisions	28.2
Total	$ 33.6
Majority of warranty provisions	1 year
Product warranty
PROVISIONS
Balance at beginning	$ 24.2
Changes in other provisions [abstract]
Translation differences	(0.6)
Provisions made during the period	2.6
Provisions used during the period	(2.8)
Provisions reversed during the period	(0.6)
Balance at ending	22.8
Restructuring
PROVISIONS
Balance at beginning	2.2
Changes in other provisions [abstract]
Translation differences	0.0
Provisions made during the period	7.9
Provisions used during the period	(7.7)
Provisions reversed during the period	0.0
Balance at ending	2.4
Other
PROVISIONS
Balance at beginning	9.0
Changes in other provisions [abstract]
Translation differences	(0.6)
Provisions made during the period	0.4
Provisions used during the period	(0.4)
Provisions reversed during the period	0.0
Balance at ending	$ 8.4

COMMITMENTS (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Capital commitments [abstract]
Guarantees	$ 20.1	$ 15.7
Other commitments	$ 320.6	$ 210.7

RELATED PARTY TRANSACTIONS - Anta Sports transactions (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disclosure of transactions between related parties [line items]
Purchases of goods and services from ANTA Sports and subsidiaries	$ 11.0	$ 6.5	$ 12.9	$ 12.8
Sales to ANTA Sports and subsidiaries
Disclosure of transactions between related parties [line items]
Sales to ANTA Sports and subsidiaries	$ 8.4	$ 0.2	$ 10.8	$ 0.2

RELATED PARTY TRANSACTIONS - Compensation to key management (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disclosure of transactions between related parties [abstract]
Salaries and other short-term employee benefits	$ 5.1	$ 3.4	$ 11.7	$ 6.4
Post-employment benefits	0.1	0.1	0.3	0.3
Share-based payments	5.9	0.0	13.6	0.0
Other long-term benefits	0.0	0.0	0.1	0.1
Total	11.1	3.5	25.7	6.8
Remuneration paid to the Boards of Directors	$ 0.1	$ 0.0	$ 0.1	$ 0.0

RELATED PARTY TRANSACTIONS - Long-term loan from parent company (Details) € in Millions, $ in Millions			3 Months Ended		6 Months Ended
	Feb. 04, 2024 USD ($)	Feb. 04, 2024 EUR (€)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Disclosure of transactions between related parties [line items]
Amount of long-term loans granted			$ 0.0		$ 0.0		$ 4,077.0
Interest cost on interest bearing debt			42.6	$ 39.3	89.1	$ 74.1
Amount of loan set off \| €		€ 125.5
Parent company (Amer Sports Holding (Cayman) Limited)
Disclosure of transactions between related parties [line items]
Amount of long-term loans granted			0.0		0.0		4,077.5
Interest cost on interest bearing debt			$ 0.0	58.3	$ 21.6	107.1
Applicable margin aggregated to arrive at the interest rate percentage, one (as a percent)			4.00%		4.00%
Applicable margin aggregated to arrive at the interest rate percentage, two (as a percent)			4.25%		4.25%
Applicable margin aggregated to arrive at the interest rate percentage, three (as a percent)			4.50%		4.50%
Amount of loan equitized	$ 2,540.0	€ 2,300.0
Parent company (Amer Sports Holding (Cayman) Limited) \| Investment Loan
Disclosure of transactions between related parties [line items]
Amount of long-term loans granted			$ 0.0		$ 0.0		2,641.0
Interest cost on interest bearing debt			$ 0.0	52.9	$ 19.1	97.1
Parent company (Amer Sports Holding (Cayman) Limited) \| Investment Loan \| LIBOR
Disclosure of transactions between related parties [line items]
Adjustment to interest rate basis (as a percent)			0.25%		0.25%
Parent company (Amer Sports Holding (Cayman) Limited) \| Facility A Loan
Disclosure of transactions between related parties [line items]
Amount of long-term loans granted			$ 0.0		$ 0.0		$ 1,436.5
Interest cost on interest bearing debt			$ 0.0	$ 5.4	$ 2.5	$ 10.0
Applicable margin aggregated to arrive at the interest rate percentage, one (as a percent)			2.00%		2.00%
Applicable margin aggregated to arrive at the interest rate percentage, two (as a percent)			1.75%		1.75%

RELATED PARTY TRANSACTIONS - Balances outstanding (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Sales to ANTA Sports and subsidiaries \| Current payables (purchases of goods and services)
Disclosure of transactions between related parties [line items]
Amount payable to related parties	$ 7.6	$ 6.3
Sales to ANTA Sports and subsidiaries \| Accounts receivable, net
Disclosure of transactions between related parties [line items]
Accounts receivable to related parties	6.3	0.0
Parent company (Amer Sports Holding (Cayman) Limited) \| Accounts receivable, net
Disclosure of transactions between related parties [line items]
Accounts receivable to related parties	0.0	18.0
Parent company (Amer Sports Holding (Cayman) Limited) \| Other receivables
Disclosure of transactions between related parties [line items]
Accounts receivable to related parties	0.0	13.3
Parent company (Amer Sports Holding (Cayman) Limited) \| Loans from related parties taken in 2022
Disclosure of transactions between related parties [line items]
Amount payable to related parties	0.0	11.9
Parent company (Amer Sports Holding (Cayman) Limited) \| Interest expenses
Disclosure of transactions between related parties [line items]
Amount payable to related parties	0.0	0.8
Key management \| Provisions short and long-term incentive
Disclosure of transactions between related parties [line items]
Amount payable to related parties	11.2	17.9
Low Tide Properties Ltd. \| Right-of-use asset / Lease liability
Disclosure of transactions between related parties [line items]
Amount payable to related parties	$ 0.8	$ 0.9

BALANCE SHEET VALUES OF FINANCIAL ASSETS AND LIABILITIES BY MEASUREMENT CATEGORIES - Measurement categories (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Disclosure of detailed information about financial instruments [line items]
Financial assets	$ 148.5	$ 118.0
Financial liabilities	502.2	507.8
Foreign exchange derivatives
Disclosure of detailed information about financial instruments [line items]
Financial assets		3.3
Available-for-sale factoring receivables
Disclosure of detailed information about financial instruments [line items]
Financial assets		2.6
Other current non-interest yielding receivables
Disclosure of detailed information about financial instruments [line items]
Financial assets		118.0
Financial assets/ liabilities at fair value through profit and loss
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	2.8	9.6
Financial assets/ liabilities at fair value through profit and loss \| Current derivative financial instruments - Foreign exchange derivatives
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	2.8	9.6
Financial assets/ liabilities at fair value through profit and loss \| Current derivative financial instruments - Interest rate derivatives
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	0.0
Derivative financial instruments used in cash flow hedge accounting
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	8.7	23.4
Derivative financial instruments used in cash flow hedge accounting \| Non Current Derivative Financial Instruments - Foreign Exchange Derivatives
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	0.1
Derivative financial instruments used in cash flow hedge accounting \| Non Current derivative financial instruments - Foreign exchange derivatives
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	1.2	1.8
Derivative financial instruments used in cash flow hedge accounting \| Current derivative financial instruments - Foreign exchange derivatives
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	6.7	21.2
Derivative financial instruments used in cash flow hedge accounting \| Current derivative financial instruments - Interest rate derivatives
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	0.7	0.4
Financial assets/ liabilities measured at amortized cost
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	3,455.2	7,623.1
Financial assets/ liabilities measured at amortized cost \| Long-term interest-bearing liabilities
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	2,013.9	5,940.4
Financial assets/ liabilities measured at amortized cost \| Long-term lease liabilities
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	329.8	250.4
Financial assets/ liabilities measured at amortized cost \| Other long-term liabilities
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	21.7	27.6
Financial assets/ liabilities measured at amortized cost \| Current interest-bearing liabilities
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	31.6	381.0
Financial assets/ liabilities measured at amortized cost \| Current lease liabilities
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	101.7	89.4
Financial assets/ liabilities measured at amortized cost \| Accounts payable
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	454.3	426.5
Financial assets/ liabilities measured at amortized cost \| Other current liabilities
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	502.2	507.8
Financial assets/ liabilities measured at amortized cost \| Current derivative financial instruments - Foreign exchange derivatives
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	0.0
Carrying amount by balance sheet item
Disclosure of detailed information about financial instruments [line items]
Financial liabilities		7,656.1
Carrying amount by balance sheet item \| Long-term interest-bearing liabilities
Disclosure of detailed information about financial instruments [line items]
Financial liabilities		5,940.4
Carrying amount by balance sheet item \| Long-term lease liabilities
Disclosure of detailed information about financial instruments [line items]
Financial liabilities		250.4
Carrying amount by balance sheet item \| Other long-term liabilities
Disclosure of detailed information about financial instruments [line items]
Financial liabilities		27.6
Carrying amount by balance sheet item \| Non Current derivative financial instruments - Foreign exchange derivatives
Disclosure of detailed information about financial instruments [line items]
Financial liabilities		1.8
Carrying amount by balance sheet item \| Current interest-bearing liabilities
Disclosure of detailed information about financial instruments [line items]
Financial liabilities		381.0
Carrying amount by balance sheet item \| Current lease liabilities
Disclosure of detailed information about financial instruments [line items]
Financial liabilities		89.4
Carrying amount by balance sheet item \| Accounts payable
Disclosure of detailed information about financial instruments [line items]
Financial liabilities		426.5
Carrying amount by balance sheet item \| Other current liabilities
Disclosure of detailed information about financial instruments [line items]
Financial liabilities		507.8
Carrying amount by balance sheet item \| Current derivative financial instruments - Foreign exchange derivatives
Disclosure of detailed information about financial instruments [line items]
Financial liabilities		30.8
Carrying amount by balance sheet item \| Current derivative financial instruments - Interest rate derivatives
Disclosure of detailed information about financial instruments [line items]
Financial liabilities		0.4
Financial liabilities at fair value through other comprehensive income, category
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	0.0	0.0
Financial assets/ liabilities at fair value through profit and loss
Disclosure of detailed information about financial instruments [line items]
Financial assets	8.5	7.2
Financial assets/ liabilities at fair value through profit and loss \| Foreign exchange derivatives
Disclosure of detailed information about financial instruments [line items]
Financial assets	3.8	3.3
Financial assets/ liabilities at fair value through profit and loss \| Foreign exchange derivatives
Disclosure of detailed information about financial instruments [line items]
Financial assets	4.7	3.9
Derivative financial instruments used in cash flow hedge accounting
Disclosure of detailed information about financial instruments [line items]
Financial assets	16.1	9.3
Derivative financial instruments used in cash flow hedge accounting \| Foreign exchange derivatives
Disclosure of detailed information about financial instruments [line items]
Financial assets	0.1
Derivative financial instruments used in cash flow hedge accounting \| Foreign exchange derivatives
Disclosure of detailed information about financial instruments [line items]
Financial assets	16.0	8.5
Derivative financial instruments used in cash flow hedge accounting \| Interest rate derivatives
Disclosure of detailed information about financial instruments [line items]
Financial assets	0.0	0.8
Financial assets/ liabilities measured at amortized cost
Disclosure of detailed information about financial instruments [line items]
Financial assets	845.0	1,268.8
Financial assets/ liabilities measured at amortized cost \| Other non-current financial assets
Disclosure of detailed information about financial instruments [line items]
Financial assets	52.8	70.2
Financial assets/ liabilities measured at amortized cost \| Hold-to-collect accounts receivable
Disclosure of detailed information about financial instruments [line items]
Financial assets	387.8	597.2
Financial assets/ liabilities measured at amortized cost \| Other current non-interest yielding receivables
Disclosure of detailed information about financial instruments [line items]
Financial assets	148.5	118.0
Financial assets/ liabilities measured at amortized cost \| Cash and cash equivalents
Disclosure of detailed information about financial instruments [line items]
Financial assets	255.9	483.4
Financial assets at fair value through OCI
Disclosure of detailed information about financial instruments [line items]
Financial assets	49.6	18.6
Financial assets at fair value through OCI \| Other non-current financial assets
Disclosure of detailed information about financial instruments [line items]
Financial assets	9.0	9.2
Financial assets at fair value through OCI \| Available-for-sale factoring receivables
Disclosure of detailed information about financial instruments [line items]
Financial assets	37.7	2.6
Financial assets at fair value through OCI \| Promissary notes
Disclosure of detailed information about financial instruments [line items]
Financial assets	2.9	6.8
Carrying amount by balance sheet item
Disclosure of detailed information about financial instruments [line items]
Financial assets	919.2	1,303.9
Carrying amount by balance sheet item \| Other non-current financial assets
Disclosure of detailed information about financial instruments [line items]
Financial assets	61.8	79.4
Carrying amount by balance sheet item \| Foreign exchange derivatives
Disclosure of detailed information about financial instruments [line items]
Financial assets	3.9
Carrying amount by balance sheet item \| Hold-to-collect accounts receivable
Disclosure of detailed information about financial instruments [line items]
Financial assets	387.8	597.2
Carrying amount by balance sheet item \| Available-for-sale factoring receivables
Disclosure of detailed information about financial instruments [line items]
Financial assets	37.7
Carrying amount by balance sheet item \| Other current non-interest yielding receivables
Disclosure of detailed information about financial instruments [line items]
Financial assets	148.5
Carrying amount by balance sheet item \| Promissary notes
Disclosure of detailed information about financial instruments [line items]
Financial assets	2.9	6.8
Carrying amount by balance sheet item \| Foreign exchange derivatives
Disclosure of detailed information about financial instruments [line items]
Financial assets	20.7	12.5
Carrying amount by balance sheet item \| Interest rate derivatives
Disclosure of detailed information about financial instruments [line items]
Financial assets	0.0	0.8
Carrying amount by balance sheet item \| Cash and cash equivalents
Disclosure of detailed information about financial instruments [line items]
Financial assets	255.9	$ 483.4
Carrying amount by balance sheet item \| Carrying amount by balance sheet item
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	3,466.7
Carrying amount by balance sheet item \| Carrying amount by balance sheet item \| Long-term interest-bearing liabilities
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	2,013.9
Carrying amount by balance sheet item \| Carrying amount by balance sheet item \| Long-term lease liabilities
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	329.8
Carrying amount by balance sheet item \| Carrying amount by balance sheet item \| Other long-term liabilities
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	21.7
Carrying amount by balance sheet item \| Carrying amount by balance sheet item \| Non Current Derivative Financial Instruments - Foreign Exchange Derivatives
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	0.1
Carrying amount by balance sheet item \| Carrying amount by balance sheet item \| Non Current derivative financial instruments - Foreign exchange derivatives
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	1.2
Carrying amount by balance sheet item \| Carrying amount by balance sheet item \| Current interest-bearing liabilities
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	31.6
Carrying amount by balance sheet item \| Carrying amount by balance sheet item \| Current lease liabilities
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	101.7
Carrying amount by balance sheet item \| Carrying amount by balance sheet item \| Accounts payable
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	454.3
Carrying amount by balance sheet item \| Carrying amount by balance sheet item \| Other current liabilities
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	502.2
Carrying amount by balance sheet item \| Carrying amount by balance sheet item \| Current derivative financial instruments - Foreign exchange derivatives
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	9.5
Carrying amount by balance sheet item \| Carrying amount by balance sheet item \| Current derivative financial instruments - Interest rate derivatives
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	$ 0.7

BALANCE SHEET VALUES OF FINANCIAL ASSETS AND LIABILITIES BY MEASUREMENT CATEGORIES - Footnote (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Disclosure of detailed information about financial instruments [line items]
Financial assets	$ 148.5	$ 118.0
Financial liabilities	502.2	507.8
3 Other current liabilities
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	555.0	567.5
Other tax liabilities
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	42.5	28.5
Derivative financial instruments
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	10.3	31.2
Prepaid expenses and other receivables
Disclosure of detailed information about financial instruments [line items]
Financial assets	219.2	162.3
Other tax receivables
Disclosure of detailed information about financial instruments [line items]
Financial assets	47.1	24.3
Derivative financial instruments
Disclosure of detailed information about financial instruments [line items]
Financial assets	20.7	13.2
Promissory notes
Disclosure of detailed information about financial instruments [line items]
Financial assets	$ 2.9	$ 6.8

BALANCE SHEET VALUES OF FINANCIAL ASSETS AND LIABILITIES BY MEASUREMENT CATEGORIES - Measured at fair value (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Disclosure of detailed information about financial instruments [line items]
Assets	$ 74.2	$ 35.1
Liabilities	11.5	33.0
Financial instruments	502.2	507.8
Financial assets/ liabilities measured at amortized cost
Disclosure of detailed information about financial instruments [line items]
Financial instruments	3,455.2	7,623.1
Financial assets/ liabilities at fair value through profit and loss
Disclosure of detailed information about financial instruments [line items]
Financial instruments	2.8	9.6
Borrowings \| Financial assets/ liabilities measured at amortized cost
Disclosure of detailed information about financial instruments [line items]
Financial instruments	2,066.1
Borrowings \| Financial assets/ liabilities at fair value through profit and loss
Disclosure of detailed information about financial instruments [line items]
Financial instruments	2,048.1
Level 1
Disclosure of detailed information about financial instruments [line items]
Assets	0.0	0.0
Liabilities	0.0	0.0
Level 2
Disclosure of detailed information about financial instruments [line items]
Assets	24.6	16.5
Liabilities	11.5	33.0
Level 3
Disclosure of detailed information about financial instruments [line items]
Assets	49.6	18.6
Liabilities	0.0	0.0
Financial assets/ liabilities at fair value through profit and loss
Disclosure of detailed information about financial instruments [line items]
Assets	8.5	7.2
Liabilities	2.8	9.6
Financial assets/ liabilities at fair value through profit and loss \| Level 1
Disclosure of detailed information about financial instruments [line items]
Assets	0.0	0.0
Liabilities	0.0	0.0
Financial assets/ liabilities at fair value through profit and loss \| Level 2
Disclosure of detailed information about financial instruments [line items]
Assets	8.5	7.2
Liabilities	2.8	9.6
Financial assets/ liabilities at fair value through profit and loss \| Level 3
Disclosure of detailed information about financial instruments [line items]
Assets	0.0	0.0
Liabilities	0.0	0.0
Derivative financial instruments used in cash flow hedge accounting
Disclosure of detailed information about financial instruments [line items]
Assets	16.1	9.3
Liabilities	8.7	23.4
Derivative financial instruments used in cash flow hedge accounting \| Level 1
Disclosure of detailed information about financial instruments [line items]
Assets	0.0	0.0
Liabilities	0.0	0.0
Derivative financial instruments used in cash flow hedge accounting \| Level 2
Disclosure of detailed information about financial instruments [line items]
Assets	16.1	9.3
Liabilities	8.7	23.4
Derivative financial instruments used in cash flow hedge accounting \| Level 3
Disclosure of detailed information about financial instruments [line items]
Assets	0.0	0.0
Liabilities	0.0	0.0
Other non-current financial assets at fair value through OCI
Disclosure of detailed information about financial instruments [line items]
Assets	49.6	18.6
Other non-current financial assets at fair value through OCI \| Level 1
Disclosure of detailed information about financial instruments [line items]
Assets	0.0	0.0
Other non-current financial assets at fair value through OCI \| Level 2
Disclosure of detailed information about financial instruments [line items]
Assets	0.0	0.0
Other non-current financial assets at fair value through OCI \| Level 3
Disclosure of detailed information about financial instruments [line items]
Assets	$ 49.6	$ 18.6

BALANCE SHEET VALUES OF FINANCIAL ASSETS AND LIABILITIES BY MEASUREMENT CATEGORIES - Changes in level 3 items (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items]
Opening balance	$ 8,373.8
Closing balance	8,244.7
Level 3
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items]
Opening balance	18.6
Additions	40.6
Disposals	(9.4)
Losses recognized in OCI	(0.2)
Losses recognized in the consolidated statement of income	0.0
Closing balance	49.6
Other equities \| Level 3
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items]
Opening balance	9.2
Additions	0.0
Disposals	0.0
Losses recognized in OCI	(0.2)
Losses recognized in the consolidated statement of income	0.0
Closing balance	9.0
Promissory notes \| Level 3
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items]
Opening balance	6.8
Additions	2.9
Disposals	(6.8)
Losses recognized in OCI	0.0
Losses recognized in the consolidated statement of income	0.0
Closing balance	2.9
Available for sale factoring receivable \| Level 3
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items]
Opening balance	2.6
Additions	37.7
Disposals	(2.6)
Losses recognized in OCI	0.0
Losses recognized in the consolidated statement of income	0.0
Closing balance	$ 37.7

(LOSS)/EARNINGS PER SHARE (Details) $ / shares in Units, $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2024 USD ($) shares $ / shares	Jun. 30, 2023 USD ($) shares $ / shares	Jun. 30, 2022 shares	Jun. 30, 2024 USD ($) shares $ / shares	Jun. 30, 2023 USD ($) shares $ / shares	Jun. 30, 2022 shares
Earnings per share [line items]
Loss for the period, attributable to the owners of the Company, basic \| $	$ (3.7)	$ (96.9)		$ 1.4	$ (78.0)
Loss for the period, attributable to the owners of the Company, diluted \| $	$ (3.7)	$ (96.9)		$ 1.4	$ (78.0)
Weighted-average number of ordinary shares (basic) (in shares)	505,249,607	384,499,607		483,672,684	384,499,607
Weighted-average number of ordinary shares (diluted) (in shares)	505,249,607	384,499,607		486,601,577	384,499,607
Loss per share (basic), (in USD per share) \| $ / shares	$ (0.01)	$ (0.25)		$ 0.00	$ (0.20)
Loss per share diluted), (in USD per share) \| $ / shares	$ (0.01)	$ (0.25)		$ 0.00	$ (0.20)
Vested And Unvested Shares Of Restricted Share Units, Performance Share Units, And Stock Options
Earnings per share [line items]
Number of instruments that are antidilutive in period (in shares)	6,044,026	3,471,233	3,210,005	6,044,026	3,471,233	3,210,005
Unvested Stock Options
Earnings per share [line items]
Number of instruments that are antidilutive in period (in shares)				630,574
Unvested Performance Share Units And Stock Options
Earnings per share [line items]
Number of instruments that are antidilutive in period (in shares)				2,389,264

Amer Sports (NYSE:AS)
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