In the July-September third quarter, Amer Sports' net sales decreased
2% to 462.8 million ($636.1 mm) compared to 471.9 million ($604.2 mm)
last year. In local currencies, sales were on par with the previous
year. Salomon's sales in local currencies were up 11%, Precor's 28%,
and Suunto's 21%. Wilson's sales declined 4% and Atomic's 31% EBIT was
59.1 million ($81.2 mm) compared to 57.9 million ($73.8 mm) last
year, a 2.1% gain.
Amer
Sports fiscal year-to-date net sales decreased 5% to 1,155 billion
compared to 1.211 billion. Net sales in local currency terms were flat
to last year's corresponding period. EBIT amounted to 38.5 million
compared to 50.5 million last year and earnings per share were 0.23
versus 0.33 last year. Sales were down because the mild winter last
year reduced winter sports pre-orders more than expected. The full-year
result for winter sports equipment will be in the red. As a result,
Amer Sports EBIT for the year 2007 will not reach last year's level.
Roger Talermo, president and CEO said, “Amer Sports third-quarter net
sales and EBIT developed largely as expected. Particularly good
progress was seen in apparel, Salomon footwear, and Precor's
operations. Suunto and Mavic also reported continued positive
development. Wilson's sales and earnings in the USA fell slightly short
of target due to weaker than expected demand in team sports as well as
delays in deliveries caused by the implementation of the Amer Sports
global SAP system. Some of Wilson's deliveries were postponed to the
fourth quarter. This will not have a significant impact on Wilson's
full-year sales. We still expect Wilson's earnings to improve in the
last part of the year.”
“Winter sports deliveries have started
off well. Our structural and management reorganization project
initiated last summer is progressing. The most significant measures
will be taken in the winter sports business. We will report more on
these changes as soon as possible,” he concluded.
Amer
Sports net sales in January-September 2007 decreased 5% to 1.155
billion versus 1.211 billion in 2006. Net sales by business segment
were as follows: Wilson 37%, Salomon 33%, Precor 18%, Atomic 7%, and
Suunto 5%.
Wilson's sales declined 7% and Atomic's 34%.
Salomon's sales were on par with the previous year. Precor's sales
increased 7% and Suunto's, 12%. In local currencies, Salomon's sales
were up 2%, Precor's 14%, and Suunto's 15%. Wilson's sales declined 2%
and Atomic's 33%.
The geographical split of net sales is as
follows: the Americas (including South and Central America) 50%, EMEA
(Europe, Middle East and Africa) 41%, and Asia 9%. Sales decreased 15%
in Asia, 5% in the Americas, and 1% in EMEA. In local currency terms,
net sales were up 2% in the Americas and down 1% in EMEA and 10% in
Asia.
The Group's EBIT was 38.5 million compared to 50.5
million last year. The decrease was caused by the decline in net sales
of winter sports equipment and from the slower-than-expected
development of Wilson's Team Sports business.
Earnings before
taxes were 22.9 million compared to 32.2million last year. Earnings
per share stood at 0.23 versus 0.33 in the prior year. Net financial
expenses totaled 15.6 million compared to 18.3 last year, reduced by
interest-rate swaps executed in May, which resulted in a gain of 6.4
million.
R&D expenditure amounted to EUR 41.9 million (41.9), which represents 3.6% of net sales.
