Amer Sports, Inc. Files 20-F Report for Fiscal Year 2023

Ticker: AS · Form: 20-F · Filed: Mar 18, 2024 · CIK: 1988894

Amer Sports, INC. 20-F Filing Summary
FieldDetail
CompanyAmer Sports, INC. (AS)
Form Type20-F
Filed DateMar 18, 2024
Risk Levelmedium
Pages15
Reading Time18 min
Sentimentneutral

Sentiment: neutral

Topics: Amer Sports, 20-F Filing, Fiscal Year 2023, Financial Report, Currency Risk

TL;DR

<b>Amer Sports, Inc. has submitted its 2023 annual 20-F report detailing its financial performance and business operations.</b>

AI Summary

Amer Sports, Inc. (AS) filed a Foreign Annual Report (20-F) with the SEC on March 18, 2024. Amer Sports, Inc. filed its annual 20-F report for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal business address is KONEPAJANKUJA 6, HELSINKI, H9, 00511. Amer Sports, Inc. is incorporated in E9 and has a fiscal year end of December 31. The filing was submitted under the 1934 Act with SEC file number 001-41943.

Why It Matters

For investors and stakeholders tracking Amer Sports, Inc., this filing contains several important signals. This 20-F filing provides a comprehensive overview of Amer Sports' financial health and operational status for the fiscal year 2023, crucial for investors assessing the company's performance and future prospects. The report includes details on various financial instruments and currency risks, offering insights into how Amer Sports manages its exposure to fluctuations in USD, SEK, CHF, HKD, and GBP.

Risk Assessment

Risk Level: medium — Amer Sports, Inc. shows moderate risk based on this filing. The company's financial disclosures indicate exposure to currency risks across multiple currencies (USD, SEK, CHF, HKD, GBP) for various intercompany and external liabilities and receivables, as well as foreign exchange derivatives, suggesting potential volatility in reported earnings.

Analyst Insight

Investors should review the detailed financial statements and risk factor disclosures within the 20-F to understand the impact of currency fluctuations on Amer Sports' profitability and financial stability.

Key Numbers

Key Players & Entities

FAQ

When did Amer Sports, Inc. file this 20-F?

Amer Sports, Inc. filed this Foreign Annual Report (20-F) with the SEC on March 18, 2024.

What is a 20-F filing?

A 20-F is a annual report for foreign private issuers, equivalent to a 10-K but following international reporting standards. This particular 20-F was filed by Amer Sports, Inc. (AS).

Where can I read the original 20-F filing from Amer Sports, Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Amer Sports, Inc..

What are the key takeaways from Amer Sports, Inc.'s 20-F?

Amer Sports, Inc. filed this 20-F on March 18, 2024. Key takeaways: Amer Sports, Inc. filed its annual 20-F report for the fiscal year ending December 31, 2023.. The filing covers the period from January 1, 2023, to December 31, 2023.. The company's principal business address is KONEPAJANKUJA 6, HELSINKI, H9, 00511..

Is Amer Sports, Inc. a risky investment based on this filing?

Based on this 20-F, Amer Sports, Inc. presents a moderate-risk profile. The company's financial disclosures indicate exposure to currency risks across multiple currencies (USD, SEK, CHF, HKD, GBP) for various intercompany and external liabilities and receivables, as well as foreign exchange derivatives, suggesting potential volatility in reported earnings.

What should investors do after reading Amer Sports, Inc.'s 20-F?

Investors should review the detailed financial statements and risk factor disclosures within the 20-F to understand the impact of currency fluctuations on Amer Sports' profitability and financial stability. The overall sentiment from this filing is neutral.

Risk Factors

Key Dates

Glossary

20-F
An annual report required by the U.S. Securities and Exchange Commission (SEC) for foreign private issuers. (Provides a comprehensive overview of the company's business, financial condition, and risks for the fiscal year.)

Filing Stats: 4,393 words · 18 min read · ~15 pages · Grade level 16.4 · Accepted 2024-03-18 16:16:05

Filing Documents

Identity of Directors, Senior Management and Advisers

Item 1. Identity of Directors, Senior Management and Advisers 4

Offer Statistics and Expected Timetable

Item 2. Offer Statistics and Expected Timetable 4

Key Information

Item 3. Key Information 4

Information on the Company

Item 4. Information on the Company 48

Unresolved Staff Comments

Item 4A. Unresolved Staff Comments 73

Operating and Financial Review and Prospects

Item 5. Operating and Financial Review and Prospects 74

Directors, Senior Management and Employees

Item 6. Directors, Senior Management and Employees 102

Major Shareholders and Related Party Transactions

Item 7. Major Shareholders and Related Party Transactions 113

Financial Information

Item 8. Financial Information 119

The Offer and Listing

Item 9. The Offer and Listing 119

Additional Information

Item 10. Additional Information 120

Quantitative and Qualitative Disclosures About Market Risk

Item 11. Quantitative and Qualitative Disclosures About Market Risk 138

Description of Securities Other than Equity Securities

Item 12. Description of Securities Other than Equity Securities 138 PART II 139

Defaults, Dividend Arrearages and Delinquencies

Item 13. Defaults, Dividend Arrearages and Delinquencies 139

Material Modifications to the Rights of Security Holders and Use of Proceeds

Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds 139

Controls and Procedures

Item 15. Controls and Procedures 139

Reserved

Item 16. Reserved 140

Audit Committee Financial Expert

Item 16A. Audit Committee Financial Expert 140

Code of Ethics

Item 16B. Code of Ethics 140

Principal Accountant Fees and Services

Item 16C. Principal Accountant Fees and Services 140

Exemptions from the Listing Standards for Audit Committees

Item 16D. Exemptions from the Listing Standards for Audit Committees 141

Purchases of Equity Securities by the Issuer and Affiliated Purchasers

Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers 141

Change in Registrant's Certifying Accountant

Item 16F. Change in Registrant's Certifying Accountant 141

Corporate Governance

Item 16G. Corporate Governance 141

Mine Safety Disclosure

Item 16H. Mine Safety Disclosure 142

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 16I. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 142

Insider Trading Policies

Item 16J. Insider Trading Policies 142

Cybersecurity

Item 16K. Cybersecurity 142 PART III 144

Financial Statements

Item 17. Financial Statements 144

Financial Statements

Item 18. Financial Statements 144

Exhibits

Item 19. Exhibits 144 i Table of Contents PRESENTATION OF FINANCIAL AND OTHER INFORMATION Certain Definitions Unless otherwise indicated or the context otherwise requires, all references in this annual report 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.

Financial Statements

Financial Statements Unless otherwise indicated, all financial information contained in this annual report is prepared and presented in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB"). Our fiscal year ends on December 31 of each year. Rounding We have made rounding adjustments to some of the figures included in this annual report. Accordingly, numerical figures shown as totals in some tables may not be an arithmetic aggregation of the figures that preceded them. With respect to financial information set out in this annual report, a dash ("-") signifies that the relevant figure is not available or not applicable, while a zero ("0.0") signifies that the relevant figure is available but is or has been rounded to zero. Trademarks and Trade Names We own various trademark registrations and applications, and unregistered trademarks, including Arc'teryx, Salomon, Wilson, Peak Performance, Atomic, Armada, ENVE, Louisville Slugger, DeMarini, EvoShield and ATEC, among others, and our other registered and common law trade names, trademarks and service marks, including our corporate logo. Solely for convenience, some of the trademarks, service marks and trade names referred to in this annual report are listed without the and symbols, but we will assert, to the fullest extent under applicable law, rights to such trademarks, service marks and trade names. Market and Industry Data Market data and certain industry forecast data used in this annual report were obtained from internal reports, where appropriate, as well as third-party sources, including independent industry publications, as well as other publicly available information. Data regarding the industries in which we compete and our market position and market share within these industries are inherently imprecise and are subject to significant business, economic and competitive uncertainties beyond our control, but we believe t

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not applicable.

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not applicable.

KEY INFORMATION

ITEM 3. KEY INFORMATION A. [Reserved] B. Capitalization and Indebtedness Not applicable. C. Reason for the Offer and Use of Proceeds Not applicable. D. Risk Factors In addition to the other information contained in this annual report, the following risk factors, as well as additional factors not presently known to us or that we currently deem to be immaterial, should be considered in evaluating our business. Our business, financial condition, or results of operations could be materially adversely affected as a result of any of these risks. Risks Related to Our Business and Industry Our business depends on the strength of our brands, and if we are not able to maintain and enhance our brands, our reputation and results of operations may be adversely affected. Our iconic sports and outdoor brands, including Arc'teryx, Salomon, Wilson, Atomic and Peak Performance, are integral to our business and to the implementation of our strategies for expanding our business. We believe that the brand images we have cultivated have significantly contributed to the success of our business and are critical to maintaining and expanding our consumer base. Maintaining and enhancing our premium brands may require us to make substantial investments in areas such as product design, intellectual property, operations, marketing, supply chain (including raw materials, manufacturing and distribution), sustainability, environmental, social and governance ("ESG"), community relations, employee training and our direct-to-consumer ("DTC") and wholesale distribution channels, including investments in additional distribution partnerships, the opening of new owned retail stores and new owned e-commerce websites, the inclusion of products on third-party e-commerce platforms, and other e-commerce projects, and these investments may not be successful. 4 Table of Contents We anticipate that, as our business continues to expand into new markets and new product categories, maintaining and e

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