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2014-04-24

Amer Sports Oyj: Amer Sports Corporation Interim Report January-March 2014

Amer Sports Corporation

STOCK EXCHANGE RELEASE
April 24, 2014 at 1:10 pm

JANUARY-MARCH 2014

* Net sales EUR 501.5 million (493.0). Solid, broad-based growth of 6% in
local currencies, despite challenging trading conditions in Russia and bad
weather conditions in main markets.
* Gross margin 44.3% (44.2%).
* EBIT EUR 20.6 million (26.4), heavily impacted by currencies.
* Earnings per share EUR 0.07 (0.13).
* Net cash flow after investing activities EUR 44.2 million (67.9).
* Gearing 58% (March 31, 2013: 56%).
* Outlook for 2014 unchanged.

OUTLOOK FOR 2014
Amer Sports expects global trading conditions to remain challenging, with some
regional improvements. In 2014, Amer Sports' net sales growth in local
currencies is expected to meet at minimum the company's long-term annual 5%
growth target, and EBIT excluding non-recurring items is expected to improve
from 2013. The company will continue to focus on softgoods growth,
consumer-driven product and marketing innovation, commercial expansion and
operational excellence.

KEY FIGURES

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|EUR million 1-3/2014 1-3/2013 2013 |
|Net sales 501.5 493.0 2,136.5 |
|Gross profit 222.3 217.7 932.2 |
|Gross profit % 44.3 44.2 43.6 |
|EBIT excluding non-recurring items 20.6 26.4 154.9 |
|EBIT % excluding non-recurring items 4.1 5.4 7.3 |
|Non-recurring items*) - - - |
|EBIT total 20.6 26.4 154.9 |
|EBIT % 4.1 5.4 7.3 |
|Financing income and expenses -9.2 -6.7 -28.6 |
|Earnings before taxes 11.4 19.7 126.3 |
|Net result 8.2 14.8 90.3 |
|Earnings per share, EUR 0.07 0.13 0.77 |
|Net cash flow after investing activities 44.2 67.9 42.5 |
|Equity ratio, % at period end 40.5 40.5 37.5 |
|Gearing, % at period end 58 56 57 |
|Personnel at period end 7,370 7,236 7,330 |
|Average rates used, EUR/USD 1.37 1.32 1.33 |
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*) 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 good start for the year with a solid 6% growth and slightly
improved gross margin, driven by broad-based double-digit growth in several
of our strategic growth areas. During the quarter we also faced quite some
challenges, including a mild winter which impacted adversely especially
cross-country skiing, however the Winter Sports Equipment business showed
remarkable resilience and even good growth in parts of the portfolio. In
tennis we declined as intended, largely due to cleaning up some unprofitable
sales with the objective to ignite more profitable growth in Wilson. In
Russia, we faced challenges due to declining consumer demand and devaluation
of the currency which caused a decline in our EBIT.

The trading conditions have been more unfavorable than expected; nevertheless
I'm pleased with the progress in our own actions. Our long-term strategies
are working and we continue to execute with appropriate agility, looking
forward to another year of growth and improvement.

For further information, please contact:
Heikki Takala, President and CEO
Tel. +358 9 7257 8210, as of April 28 +358 20 712 2510

Jussi Siitonen, CFO
Tel. +358 9 7257 8212, as of April 28 +358 20 712 2511

Päivi Antola, Director, Corporate Communications and IR
Tel. +358 9 7257 8233, as of April 28 +358 20 712 2537

New address as of April 28, 2014: Aleksis Kiven katu 17 A, P.O. Box 1000,
FI-00511 Helsinki

TELEPHONE CONFERENCE
An English-language conference call for investors and analysts will be held
today at 3:00 pm Finnish time. To participate in the call, please dial +44
(0)20 3427 1920 (UK/international dial-in number) and the access code
7636738. The conference call can also be followed atwww.amersports.com. A
recorded version and a transcript will be available later at the same web
address. The replay number of the call is +44 (0)20 3427 0598, and the access
code 7636738#
.

SECOND QUARTER RESULTS BULLETIN
Amer Sports will publish its Q2/2014 results bulletin on Thursday, July 24,
2014 at approximately 1:00 pm Finnish time.

DISTRIBUTION:
NASDAQ OMX Helsinki
Main media
www.amersports.com

AMER SPORTS
Amer Sports (www.amersports.com) is a sporting goods company with
internationally recognized brands including Salomon, Wilson, Atomic,
Arc'teryx, Mavic, Suunto and Precor. 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 OMX Helsinki stock
exchange (AMEAS).

Amer Sports Interim Report Q1 2014
http://hugin.info/3020/R/1779580/608187.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX 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

HUG#1779580

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