One of the first great heroes of Austrian Alpine ski racing, Anderl Molterer was unfortunate to have raced in the shadow of his teammate, Toni Sailer, one of the greatest ski racers of all-time. At Cortina in 1956, when Sailer won all three Alpine events, Molterer won a silver medal in giant slalom and a bronze in downhill. He competed again at the 1960 Winter Olympics and at the World Championships in 1954 and 1958, winning a slalom bronze medal at Åre in 1954. Molterer trained as a carpenter but was named to the Austrian National Team in 1950. His best season was 1952-53 when he won 19 different races, including the slalom and combined at the Arlberg-Kandahar race, and combined events at Wengen, Kitzbühel, and Zermatt. During his career he won nine different races at the Hahnenkamm. He was also a nine-time Austrian champion.
After the Squaw Valley Olympics Molterer settled in the United States, helping form the International Professional Ski Racing Associaton (IPSRA), and working as a ski instructor for celebrities and a model for ski equipment. In 1966 he helped found the Red Lodge International Summer Ski Racing Camp in Montana, and in 1970 opened Molterer Sports in Aspen, Colorado.