Amer Sports - Interim report (Q1 and Q3)

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
 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

*) 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 at www.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).



[HUG#1779580]

Attachments:

Amer Sports Interim Report Q1 2014.pdf