Amer Sports Half Year Financial Report January-June 2016


28.07.16 12:05
Meldung
 
<strong>Amer Sports</strong> Half Year Financial Report January-June 2016

Amer Sports Corporation                          

STOCK EXCHANGE RELEASE

July 28, 2016 at 1:00 p.m.

Amer Sports Half Year Financial Report January-June 2016

APRIL-JUNE 2016

  • Net sales EUR 477.4 million (April-June 2015: 461.1). In local currencies, net sales increased by 6%. Organic growth was 5%, driven by Footwear and Apparel.
  • Gross margin 44.7% (44.1).
  • EBIT EUR -12.1 million (-9.0 excluding items affecting comparability, IAC).
  • Net sales and profitability were adversely impacted by the US customer bankruptcies.
  • Earnings per share EUR -0.13 (-0.11 excluding IAC).
  • Free cash flow EUR -54.3 million (11.5) due to seasonal fluctuation.
  • Outlook for 2016 unchanged.

JANUARY-JUNE 2016

  • Net sales EUR 1,112.9 million (January-June 2015: 1,037.0). In local currencies, net sales increased by 9%. Organic growth was 6%.
  • Gross margin 46.3% (45.1).
  • EBIT excluding IAC EUR 33.9 million (24.6). Items affecting comparability were EUR -6.3 million (-8.0).
  • Earnings per share excluding IAC EUR 0.11 (0.04).
  • Free cash flow EUR -21.5 million (54.5).

OUTLOOK

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.

IMPACT OF NEW ESMA GUIDELINES

New ESMA (European Securities and Markets Authority) guidelines on Alternative Performance Measures (APMs) are effective for the financial year 2016. Amer Sports presents APMs to reflect the underlying business performance and to enhance comparability between financial periods. APMs should not be considered as a substitute for measures of performance in accordance with the IFRS. As of Q1 2016, Amer Sports relabels the previously referenced "excluding non-recurring items" with "excluding items affecting comparability" (IAC). Operating segments' EBIT is reported excluding IAC. Items affecting comparability and APMs used by Amer Sports are defined in note 10 of this report.

KEY FIGURES

EUR million 4-6/2016 4-6/2015 1-6/2016 1-6/2015 2015
Net sales 477.4 461.1 1,112.9 1,037.0 2,534.4
Gross profit 213.6 203.5 515.1 467.7 1,145.9
  Gross profit % 44.7 44.1 46.3 45.1 45.2
EBITDA excl. IAC*) 1.5 2.3 62.8 47.8 263.2
EBIT excl. IAC -12.1 -9.0 33.9 24.6 212.1
EBIT % excl. IAC     3.0 2.4 8.4
IAC**) - -6.6 -6.3 -8.0 -8.0
EBIT -12.1 -15.6 27.6 16.6 204.1
EBIT %     2.5 1.6 8.1
Financing income and expenses -8.0 -9.4 -15.9 -17.7 -36.1
Earnings before taxes -20.1 -25.0 11.7 -1.1 168.0
Net result -14.7 -18.0 8.5 -0.8 121.6
Earnings per share excluding IAC, EUR -0.13 -0.11 0.11 0.04 1.09
Free cash flow***) -54.3 11.5 -21.5 54.5 121.7
Equity ratio, % at period end     35.8 37.7 37.2
Net debt/equity at period end     0.70 0.68 0.48
Personnel at period end     8,514 7,880 7,954
Average rates used, EUR/USD 1.13 1.10 1.12 1.12 1.11

*) EBITDA excl. IAC = EBIT excluding items affecting comparability and depreciation and amortization

**) Items affecting comparability are material items or transactions, which are relevant for understanding the financial performance of Amer Sports when comparing profit of the current period with previous periods. These items can include, but are not limited to, capital gains and losses, significant write-downs, provisions for planned restructuring and other items that are not related to normal business operations from Amer Sports' management view. A single item affecting comparability has to represent more than one cent per share on annual basis.

***) Cash flow from operating activities - net capital expenditures - change in restricted cash (Net capital expenditures: Total capital expenditure less proceeds from sale of assets).

HEIKKI TAKALA, PRESIDENT AND CEO:

The second quarter is traditionally our smallest, however we delivered a solid 6% growth despite short-term adverse business impact due to US customer disruptions, which impacted especially Ball Sports. During the quarter we executed a significant distribution center expansion in both the US and EMEA, and moved Arc'teryx into a larger production facility in Canada. These changes added short-term CAPEX and OPEX, however they support our mid/long-term growth.

Our outlook for the year remains positive, supported by robust pre-orders in most businesses, with the exception of Winter Sports Equipment where we expect a modest decline following the challenging previous winters. Our initiative pipeline for the Fall/Winter season is stronger than ever with strong joint business plans with our retail partners, continuous B2C expansion, and a robust innovation rollout across the brands.

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   

TELEPHONE CONFERENCE

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 1918 or +49(0)69 2222 10622, passcode 1763874. The conference can also be followed live via http://edge.media-server.com/m/p/oi4d7gfc. A replay of the conference call and a transcript will be available later. The replay number is +44(0)20 3427 0598 or +49(0)69 2222 2236, passcode 1763874.

CAPITAL MARKETS DAY

Amer Sports is hosting a Capital Markets Day for analysts and institutional investors in Helsinki on September 1, 2016.

THIRD QUARTER RESULTS BULLETIN

Amer Sports will publish its Q3/2016 results bulletin on Thursday, October 20, 2016 at approximately 1:00 p.m. Finnish time.

INVESTOR RELATIONS NEWSLETTER

Subscribe to Amer Sports Investor Relations Newsletter at www.amersports.com/investors/subscribe.

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).

Amer Sports Half Year Financial Report 2016






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#2031392



 

Breaking News


Kurs- und weitere Informationen zum Thema:

Amer Sports

Aktuelle Diskussionen zum Thema:


Aktuelle Nachrichten zum Unternehmen:


Alle Nachrichten zum Unternehmen

Aktuelle Analysen zu den Unternehmen:

Amer Sports
Weitere Meldungen
 
12:05 Amer Sports Half Year Fina.
11:25 FLSmidth: Large shareholder.
08:50 Ad hoc: Nemetschek SE üb.
08:30 Ad hoc: AD-HOC: adidas Ko.
08:05 Biotie Therapies Corp.'s Inte.
08:05 Neste's Interim Report for J.
08:05 Nokia to publish second qua.
07:40 Sampo plc: Disclosure Under.
07:35 Ad hoc: GRENKE AG: Kon.
07:30 DBV Technologies Reports .
07:05 Aware360 erweitert seine In.
07:05 AMG Advanced Metallurgica.
07:05 ALTRAN TECHNOLOGIES: .
07:05 Clariant delivers significantly.
07:05 Aware360 expands its indus.
01:45 Sanofi Receives FDA Appro.
01:05 Ad hoc: windeln.de AG: win.
27.07 Ad-hoc announcement in acc.
27.07 Ad hoc: Ad-hoc announceme.
27.07 Ad hoc: Wirecard AG: Vorl.
27.07 Ad hoc: SÜSS MicroTec AG.
27.07 Ad hoc: Aureum Realwert A.
27.07 Marathon Petroleum Corp. in.
27.07 ERAMET group: 2016 1st .
27.07 TECHNICOLOR : FIRST HA.
27.07 Maurel & Prom : Activity f.
27.07 Prosafe SE: Notice of extra.
27.07 Prosafe SE: Summons to bo.
27.07 Bavarian Nordic Announces .
27.07 Ad hoc: Greenwich Beteiligu.


Umfrage
 
Welche Social Networks nutzen Sie meistens?
Facebook
keine
Twitter
Xing
Linked in
Youtube
myspace
Google+
Wikipedia
andere


Stimmen: 14930 , Ergebnis


Kurssuche
Status: nicht eingeloggt

Registrieren | Passwort vergessen?
 
 
Im Bereich Nachrichten:
Silber: Verschnaufpause beendet!
Experte: Stefan Hofmann, STOCK-WORLD
Kolumnen
Gewaltspirale - Der ...
Ralf Flierl, Smart Investor (12:20)
Experte: Ralf Flierl, Smart Investor
Twitter: das wird nichts ...
Robert Sasse, (12:06)
Experte: Robert Sasse,
85-Prozent-Chance mit ...
Jürgen Sterzbach, boerse-daily.de (11:37)
Experte: Jürgen Sterzbach, boerse-daily.de
Brexit belastet globale ...
Feingold-Research, (11:13)
Experte: Feingold-Research,
LEONTEQ: +25% in zwei ...
WIRTSCHAFTSINFORM., (11:00)
Experte: WIRTSCHAFTSINFORMATION .,
Meine Trading-Ideen für ...
Berndt Ebner, Der-Trading-Coach.com (11:00)
Experte: Berndt Ebner, Der-Trading-Coach.com
Silber: Verschnaufpause ...
Stefan Hofmann, STOCK-WORLD (10:47)
Experte: Stefan Hofmann, STOCK-WORLD
Gem International - Schon ...
Björn Junker, GOLDINVEST.de (10:40)
Experte: Björn Junker, GOLDINVEST.de
Fed lässt alles beim Alten
Klaus Stopp, Baader Bank AG (10:28)
Experte: Klaus Stopp, Baader Bank AG
Facebook-Calls mit 86%-...
Walter Kozubek, (10:13)
Experte: Walter Kozubek,
Daimler: Die lang ersehnte ...
Holger Steffen, (10:05)
Experte: Holger Steffen,
DAX kämpft gegen starken ...
CMC Markets, (10:00)
Experte: CMC Markets,
Niquet's World
Neues vom Portal
 
Warum verpassen so viele Investoren oft die besten Chancen?
Letzte Börsen-Meldung
 
Letzte Börsen-Analyse
 
Top-Klicks News
 
Top-Klicks Analysen