Sales growth has slowed considerably at Mammut Sports Group since April, according to first half financial data released Wednesday by its parent company Conzzeta Group of Zurich. Conzzeta said its Mammut Sports Group generated net sales in the first half of 95 million Swiss francs ($87.9mm), up just 1.2% from CHF 93.9 million ($83.3mm) in the H1 last year. Adjusted for currency effects, the increase amounted to 2.7%.
Earlier this year Conzzeta released data showing sales were up 12.3% for the January through April period. Conzzeta reported sales grew 12% in 2009 and Mammut Sports Group CEO Rolf Schmid has said the company is targeting 10% annual growth with much of the growth coming from the U.S. and Germany.
On Wednesday, Conzzeta reported that the market for Mammut’s products grew in Germany and Japan in the first half, particularly for its new bag collection. Apparel and harnesses also contributed to growth. Mammut sales in the domestic Swiss market, however, failed to meet high levels of the previous year. The company said overall, the mood in the outdoor market remains positive.
Conzzeta, which derived 80% of its revenue in the half from its industrial and engineering businesses, said it expects the economic recovery to continue in the second half in Asia, but that great uncertainty remains in Europe and America.