Amer Sports, which owns Salomon, Wilson, Atomic, Arc’teryx,
Mavic, Suunto and Precor, reported sales increased 9 percent in its second
quarter. The fastest growth took place in Sports Instruments, up by 31 percent,
Apparel, up by 22 percent, Fitness, up by 18 percent and Footwear, up by 17
percent.
Net sales by business segment:
EUR million
Q2/13
Q2/12
% Change
% Change
% of sales
% of sales
2012
Winter and
Outdoor
168.7
150.9
12
15
45
43
1,221.2
Ball Sports
144.2
146.5
-2
1
38
41
569.7
Fitness
64.3
56.4
14
18
17
16
273.1
Total
377.2
353.8
7
9
100
100
2,064.0
*) In local currencies
Geographic breakdown of net sales
EUR million
4-6/
2013
4-6/
2012
Change
%
Change
%*)
% of sales
4-6/2013
% of sales
4-6/2012
2012
EMEA
144.5
133.1
9
10
38
38
962.7
Americas
177.6
167.4
6
8
47
47
834.1
Asia Pacific
55.1
53.3
3
13
15
15
267.2
Total
377.2
353.8
7
9
100
100
2,064.0
*) In local currencies
Gross margin improved 0.5 percentage points to 43.6 percent
driven by Apparel, Cycling and Fitness.Group EBIT was EUR -18.7 million (-19.2). In local currencies,
increased sales volumes contributed approximately EUR 14 million to EBIT while
higher gross margins contributed approximately EUR 2 million. Spending in
strategic operating expenses in distribution was the main driver of the
operating expenses increase of approximately EUR 15 million.EBIT excluding non-recurring items by business segment
EUR million Q2/13 Q2/12
Winter and Outdoor -27.1 -25.4 113.8
Ball Sports 7.8 9.7 28.0
Fitness 4.3 1.0 17.0
Headquarters*) -3.7 -4.5 -20.1
EBIT excluding
non-recurring items -18.7 -19.2 138.7
Non-recurring items – – -24.8
EBIT total -18.7 -19.2 113.9*) Headquarters segment consists of Group administration,
shared services functions, other non-operational income and expenses and fair
valuation of share-based compensations.Net financial expenses were EUR 5.3 million (9.6) including
net interest expenses of EUR 5.8 million (8.1). Net foreign exchange gains and
other financial items were EUR 0.5 million (EUR 1.5 million losses). Earnings
before taxes totaled EUR -24.0 million (-28.8) and taxes were EUR +6.0 million
(+6.5). Earnings per share were EUR -0.16 (-0.19).
EUR million Q2/13 Q2/12*) 1H/13 1H/13*) 2012*)
Net sales 377.2 353.8 870.2 843.6 2,064.0
Gross profit 164.3 152.5 382.0 368.8 900.6
Gross profit % 43.6 43.1 43.9 43.7 43.6
EBIT excluding non-recurring
items -18.7 -19.2 7.7 10.4 138.7
EBIT % excluding non-recurring
items 0.9 1.2 6.7
Non-recurring items**) – – – – -24.8
EBIT total -18.7 -19.2 7.7 10.4 113.9
EBIT % 0.9 1.2 5.5
Financing income and
expenses -5.3 -9.6 -12.0 -15.0 -31.5
Earnings before taxes -24.0 -28.8 -4.3 -4.6 82.4
Net result -18.0 -22.3 -3.2 -3.5 57.9
Earnings per share, EUR -0.16 -0.19 -0.03 -0.04 0.48
Net cash flow after investing
activities 50.0 -44.2 17.9 53.2 71.8
Equity ratio, % at period end 39.9 37.9 39.1
Gearing, % at period end 65 65 59
Personnel at period end 7,382 7,226 7,186
Average rates used, EUR/USD 1.31 1.29 1.31 1.30 1.28
*) Restated in accordance with revised IAS 19 standard
(postemployment benefit plans).**) Non-recurring items are exceptional transactions that are
not related to normal business operations. The most common non-recurring items
are capital gains, exceptional write-downs, provisions for planned restructuring
and penalties. Non-recurring items are normally specified individually if they
have a material impact on EBIT.HEIKKI TAKALA, PRESIDENT AND CEO:
“We delivered a solid quarter with several categories
achieving double-digit growth, despite challenging trading conditions especially
in Western Europe. Second quarter, however, is traditionally a low quarter for
Amer Sports, representing less than 20% of our full year sales. Through the
portfolio, we mitigated the late and cold spring/summer which impacted adversely
especially Wilson's Individual Ball Sports (stable) a
