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Amer Sports Oyj: Amer Sports Corporation Interim Report January-March 2015

Amer Sports Corporation

April 23, 2015 at 1:00 pm

Amer Sports Corporation Interim Report January-March 2015


* Net sales EUR 575.9 million (501.5). In local currencies, net sales
increased by 5% driven particularly by Apparel and Footwear.
* Gross margin 45.9% (44.3%).
* EBIT excluding non-recurring items (NRI) EUR 33.6 million (20.6).
* Earnings per share excluding NRI EUR 0.16 (0.07).
* Net cash flow after investing activities EUR 43.0 million (44.2).
* The operative improvement was further boosted by currencies.
* Outlook for 2015 unchanged.
* In March, Amer Sports announced the acquisition of a leading American
baseball brand, Louisville Slugger. The acquisition had no impact on
January-March 2015 financials. The acquisition was finalized on April 22.


In 2015, Amer Sports net sales in local currencies is expected to increase and
EBIT margin excluding non-recurring items to improve from 2014, despite
challenging market conditions. The company will continue to focus on apparel
and footwear growth, consumer-driven product and marketing innovation,
commercial expansion and operational excellence.


| EUR million 1-3/2015 1-3/2014 2014 |
| Net sales 575.9 501.5 2,228.7 |
| Gross profit 264.2 222.3 979.0 |
| Gross profit % 45.9 44.3 43.9 |
| EBIT excluding NRI 33.6 20.6 168.3 |
| EBIT % excluding NRI 5.8 4.1 7.6 |
| NRI*) -1.4 - -54.2 |
| EBIT total 32.2 20.6 114.1 |
| EBIT % 5.6 4.1 5.1 |
| Financing income and expenses -8.3 -9.2 -37.1 |
| Earnings before taxes 23.9 11.4 77.0 |
| Net result 17.2 8.2 55.4 |
| Earnings per share excluding NRI, EUR 0.16 0.07 0.80 |
| Net cash flow after investing activities 43.0 44.2 53.5 |
| Equity ratio, % at period end 39.2 40.5 38.8 |
| Net debt/equity at period end 0.51 0.58 0.50 |
| Personnel at period end 7,650 7,370 7,630 |
| Average rates used, EUR/USD 1.13 1.37 1.33 |
*) Non-recurring items (NRI) 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.


We started 2015 with solid growth and profit improvement, further boosted by
currencies. The growth was particularly strong in Apparel and Footwear as
well as in Sports Instruments, and the improved winter conditions drove
re-orders in Winter Sports Equipment. In Fitness we declined mainly due to
moving from third-party dealer model to in-house sales in the USA, resulting
in de-stocking of the current dealer inventories.

Our Ball Sports recovery continues. Whilst total sales declined behind our new
distribution strategy, we delivered solid growth across the focus growth
areas, especially performance tennis and baseball, and we continued to
improve gross margins and EBIT toward our mid-term targets. To accelerate
profitable growth in baseball and softball, we announced the acquisition of
Louisville Slugger, which makes us the global leader in baseball and softball
equipment. The acquisition supports our strategic glidepath and confirms that
we have progressed to a level where we can accelerate beyond organic growth,
and we have the balance sheet strength to do so. Importantly, we still prefer
organic growth and expansion, as we see significant potential to further
leverage our current portfolio.

For further information, please contact:

Heikki Takala, President and CEO, tel. +358 20 712 2510
Jussi Siitonen, CFO, tel. +358 20 712 2511
Päivi Antola, Director, Corporate Communications and IR, tel. +358 20 712 2537


An English-language conference call for investors and analysts will be held at
3:00 p.m. Finnish time. To participate in the conference call, please call
+44 (0)20 3427 1908 (UK/international dial-in number), confirmation code
3869951.The conference can also be followed live via

A replay of the conference call and a transcript will be available later at
the same internet address. The replay number is +44 (0)20 3427 0598, passcode


Amer Sports will publish its Q2/2015 results bulletin on Wednesday, July 29,
2015 at approximately 1:00 pm Finnish time.

NASDAQ OMX Helsinki, main media,

Amer Sports ( 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 Helsinki stock exchange

Amer Sports Corporation Interim Report Q1 2015


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


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