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Amer Sports Corporation Interim Report January-March 2015
Amer Sports Corporation
STOCK EXCHANGE RELEASE
April 23, 2015 at 1:00 pm
Amer Sports Corporation Interim Report January-March 2015
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.
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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.
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 www.amersports.com or http://edge.media-server.com/m/p/yv8a5yrf .
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 3869951 #.
Amer Sports will publish its Q2/2015 results bulletin on Wednesday, July 29, 2015 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 Helsinki stock exchange (AMEAS).
Copyright GlobeNewswire
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Regulatory News
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: %s via Globenewswire