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Amer Sports Corporation Interim Report January-March 2016
Amer Sports Corporation
STOCK EXCHANGE RELEASE
April 22, 2016 at 11:00 a.m.
Amer Sports Corporation Interim Report January-March 2016
In 2016, Amer Sports net sales in local currencies are expected to increase and EBIT margin excluding items affecting comparability to improve from 2015, despite challenging market conditions. The company will focus on growing the core business and accelerating in five prioritized areas: Apparel and Footwear, US, China, Business to Consumer, as well as digitally connected devices and services.
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We started 2016 with solid profitable growth as we continued to successfully accelerate especially in our five priority areas: Apparel & Footwear, USA, China, Business to Consumer, and Digital. Gross margin was very healthy, supported by clean inventory and pricing ahead of currency related pressures. The improved gross margin enabled us to invest back into acceleration especially in Digital and Business to Consumer. Our growth was further boosted by the 2015 acquisitions of Louisville Slugger and Queenax. To re-ignite growth in our Cycling category, we announced the acquisition of ENVE Composites LLC which we are now integrating for growth, scale and synergies.
The trading conditions have remained challenging with disruptions in the retailer landscape . We work relentlessly to anticipate and mitigate these challenges, whilst we build the company fundamentals and accelerate guided by our strategic targets and priorities.
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 1:00 p.m. Finnish time. To participate in the conference call, please call +44 (0)20 3427 1934 or +49 (0)69 2222 10644 , passcode 4107738 .
The conference can also be followed live via www.amersports.com or
http://edge.media-server.com/m/p/vdhy8jon .
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 or +49 (0)69 2222 2236 , passcode 4107738 .
Amer Sports will publish its Q2/2016 results bulletin on Thursday, July 28, 2016 at approximately 1:00 p.m. Finnish time.
DISTRIBUTION
Nasdaq 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 Helsinki stock exchange (AMEAS).
Copyright GlobeNewswire
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Source: %s via Globenewswire