Amer Sports Corporation Financial Statements Bulletin 2015
(Thomson Reuters ONE) -
Amer Sports Corporation
STOCK EXCHANGE RELEASE
February 3, 2016 at 1:00 pm
Amer Sports Corporation Financial Statements Bulletin 2015
OCTOBER-DECEMBER 2015
* Net sales EUR 783.7 million (October-December 2014: 705.3). In local
currencies, net sales increased by 6%. Excluding acquisitions, net sales
increased by 5% in local currencies.
* Gross margin 43.8% (43.0).
* EBIT EUR 84.0 million (77.7 excl. non-recurring items, NRI).
* Earnings per share EUR 0.46 (0.41 excl. NRI).
* Free cash flow EUR 159.4 million (132.8).
JANUARY-DECEMBER 2015
* Net sales EUR 2,534.4 million (2014: 2,228.7). In local currencies, net
sales increased by 6%. Excluding acquisitions, net sales increased by 5% in
local currencies.
* Gross margin 45.2% (43.9).
* EBIT excluding non-recurring items EUR 212.1 million (168.3), representing
8.4% of net sales (7.6). Non-recurring items were EUR -8.0 million (-54.2).
* Earnings per share excluding NRI EUR 1.09 (0.80).
* Free cash flow EUR 121.7 million (53.5).
* Net debt/EBITDA excluding NRI 1.7 (December 31, 2014: 2.0).
* Amer Sports Board of Directors is proposing a dividend of EUR 0.55 per share
(0.45).
OUTLOOK
In 2016, Amer Sports' net sales in local currencies are expected to increase and
EBIT margin excluding non-recurring items is expected 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.
KEY FIGURES
10-12/ 10-12/
EUR million 2015 2014 Ch % Ch %*) 2015 2014 Ch % Ch %*)
-------------------------------------------------------------------------------
Net sales 783.7 705.3 11 6 2,534.4 2,228.7 14 6
Gross profit 343.0 303.2 13 1,145.9 979.0 17
Gross profit % 43.8 43.0 45.2 43.9
EBIT excluding NRI**) 84.0 77.7 8 212.1 168.3 26
EBIT % excluding NRI 10.7 11.0 8.4 7.6
NRI - -34.7 -8.0 -54.2
EBIT 84.0 43.0 204.1 114.1
EBIT % 10.7 6.1 8.1 5.1
Financing income and
expenses -10.7 -11.2 -36.1 -37.1
Earnings before taxes 73.3 31.8 168.0 77.0
Net result 53.3 23.0 121.6 55.4
Earnings per share
excluding NRI, EUR 0.46 0.41 1.09 0.80
Free cash flow***) 159.4 132.8 121.7 53.5
Equity ratio, % 37.2 38.8
Net debt/equity 0.48 0.50
Personnel at year end 7,954 7,630
Average rates used,
EUR/USD 1.11 1.33
*) In local currencies
**) Non-recurring items are exceptional and material transactions that are not
related to normal business operations. These items can include, but are not
limited to, capital gains and losses, exceptional write-downs, provisions for
planned restructuring and other exceptional items Amer Sports management
considers as material. A single non-recurring item has to represent more than
one cent per share on annual basis to be classified as non-recurring.
***) Cash flow from operating activities - net capital expenditures - restricted
cash (Net capital expenditures: Total capital expenditure less proceeds from
sale of assets)
HEIKKI TAKALA, PRESIDENT AND CEO:
We closed 2015 with a solid fourth quarter, and more importantly we completed
our sixth consecutive year of profitable growth in line with our Sustainable
Growth Model. The 2015 growth was broad-based and driven by our strategic
acceleration priorities, as well as continuous improvement in our core business,
most notably Ball Sports and Winter Sports Equipment. In Fitness and Cycling we
focused on business model renewal and restructuring, and prepared a solid
pipeline of building blocks for 2016 and beyond.
Whilst delivering another record year in 2015, we ramped up our efforts and
investment to accelerate toward 2020 in line with our new strategic glidepath,
further enabled by our improving cash flow and continuously strengthening
balance sheet. We boosted our retail opening pipeline, fueled digital products
and services, invested into Go to Market integration, and recruited critical
talent. The increased operating and capital expenses, including acquisition
related costs, were absorbed in our operational results without significant
dilutive impact.
I'm pleased to confirm that the company is firmly on a sustainable growth path.
Our strategies are working, and we execute with full speed, focusing on
continuous improvement and renewal.
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 pm Finnish time. To participate in the conference call, please call +44
(0)20 3427 1921 or +49 (0)69 2222 10634, confirmation code 4489338. The
conference can also be followed live via www.amersports.com or
http://edge.media-server.com/m/p/qwkj66yj. 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 4489338#.
ANNUAL GENERAL MEETING
Amer Sports Annual General Meeting will be held on Tuesday, March 8, 2016
starting at 2:00 pm at Messukeskus, Expo and Convention Centre Helsinki,
Messuaukio 1, 00520, Helsinki, Finland.
INTERIM REPORT Q1/2016
Amer Sports will publish its Q1/2016 interim report on Thursday, April 21, 2016
at approximately 1:00 pm 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 Financial Statements 2015:
http://hugin.info/3020/R/1983363/726849.pdf
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GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Amer Sports Oyj via GlobeNewswire
[HUG#1983363]
Unternehmensinformation / Kurzprofil:
Datum: 03.02.2016 - 12:00 Uhr
Sprache: Deutsch
News-ID 448423
Anzahl Zeichen: 8406
contact information:
Town:
Helsinki
Kategorie:
Business News
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