Amer Sports said sales during November and December have been below expectations and consequently the company will not reach its EBIT (excluding one-off items) guidance of 80-90 million ($108 million to $121 million) in 2008. Amer Sports expects its full-year sales in local currencies to be close to last year's level. The weaker-than-expected performance in the fourth quarter reflects both Precor and Winter Sports Equipment.
Amer said demand for Precor's commercial fitness products remained at last year's level until October, but has slowed down during the past two months. As the last quarter of the year is seasonally important for Precor, the weakened market conditions have a big impact on Precor's full-year results. Precor continues to adjust its cost base to the prevailing market conditions.
Within the Winter Sports Equipment business, re-orders are below expectations despite good snow conditions at the start of the skiing season, reflecting retailers' general cautiousness in the current environment. Amer Sports said that even if re-orders are slower-than-expected, the Winter Sports Equipment business area's results in 2008 will improve compared with last year as a result of already completed efficiency improving measures.
Amer Sports publishes its full-year 2008 and Q4 results on 5 February 2009.
Amer's brands include Salomon, Wilson, Precor, Atomic, Suunto, Mavic and Arcteryx.
