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Amer Sports Oyj: Amer Sports confirms its 2020 financial targets, raising the organic growth goal

Amer Sports Corporation

August 31, 2016 at 1:00 p.m.

Amer Sports confirms its 2020 financial targets, raising the organic growth

Amer Sports confirms that it is on the glidepath to deliver the 2020 financial
targets introduced in August 2015. The financial targets and acceleration
priorities are unchanged, but now supported by further organic acceleration
building blocks. Therefore the company now targets to reach EUR 3.5 billion
organically, instead of through a combination of organic growth and
acquisitions, as announced in 2015. To support the acceleration, the company
pursues continuous productivity improvement. In addition, Amer Sports will
start a targeted restructuring to free up operating expenses of approximately
EUR 20 million, which will be reallocated to fund the acceleration.
Restructuring expenses will be EUR 20-25 million (pre-tax, reported under
"Items affecting comparability"), recognized in the second half of 2016 and
first half of 2017. The cash flow impact will be approximately EUR 20
million. The restructuring will be implemented by the end of 2017.

The minimum EUR 3.5 billion net sales target from 2015 was based on a
combination of organic growth and acquisitions. The expectation was that
acquisitions would represent approximately EUR 200 million of net sales. In
this 2016 update, the company confirms organic building block sufficiency to
reach EUR 3.5 billion. Acquisitions remain firmly in the toolbox, and
represent further upside potential.

"We have made significant progress especially in the acceleration areas chosen
in 2015 and we now have even additional building blocks, sufficient to reach
EUR 3.5 billion sales by 2020 organically. This organic acceleration drives
significant further value creation for the company. As always, we continue to
drive productivity improvement, and we use restructuring as a further measure
to shift funds to enable the acceleration", says Heikki Takala, President and
CEO of Amer Sports. "Acquisitions will remain in the toolbox, as our ambition
is to grow toward EUR 4 billion in net sales in the next 5+ years".

The financial targets set in 2015 are:

* Net sales: At least EUR 3.5 billion with minimum mid-single digit organic,
currency-neutral annual growth
* Profit: Annual EBIT growth (excl. items affecting comparability) ahead of
net sales growth
* Cash flow conversion: Free cash flow / net profit at least 80%
* Net debt / EBITDA: Year-end net debt / EBITDA ratio max 3x

The strategic acceleration priorities announced in 2015 are Apparel and
Footwear, US, China, Business to Consumer (own retail and e-commerce), as
well as digitally connected devices and services.

Capital Markets Day September 1, 2016

Amer Sports organizes a Capital Markets Day in Helsinki tomorrow, September 1,
starting at 9 a.m. EET. The CEO's and CFO's presentations can be followed as
live webcast via

For further information, please contact:
Päivi Antola, Director, Corporate Communications and IR, tel. +358 20 712 2537


Nasdaq Helsinki
Main media


Amer Sports ( is a sporting goods company with
internationally recognized brands including Salomon, Wilson, Atomic,
Arc'teryx, Precor, Suunto and Mavic. The company's technically advanced
sports equipment, footwear and apparel improve performance and increase the
enjoyment of sports and outdoor activities. The Group's business is balanced
by its broad portfolio of sports and products and a presence in all major
markets. Amer Sports shares are listed on the Nasdaq Helsinki stock exchange


This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Amer Sports Oyj via Globenewswire

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