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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)
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.
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.
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.
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.
For the six months ended June 30, 2023
In millions
Technical ApparelOutdoor PerformanceBall & 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)$162.1 
Adjustments
PPA1
(21.4)
Restructuring expenses2
(0.1)
Expenses related to transaction activities3
(2.7)
Finance cost(187.2)
Finance income3.1 
Loss before tax$(46.2)
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.