Amer Sports corporation's interim report, January - March 2005

2005-04-28, 13:03

Amer Sports' comparable net sales in local currencies rose by 5%

- In the January - March 2005 period, Amer Sports' net sales rose by 2% to EUR 277.8 million (January - March 2004: EUR 271.6 million).
- Earnings before interest and taxes (EBIT) amounted to EUR 21.5 million (2004: 27.4) and earnings per share were EUR 0.20 (2004: EUR 0.24).
- The company completed its name change to Amer Sports Corporation.
- In 2005, Amer Sports' comparable net sales in local currencies are expected to grow by 3-5% compared with 2004. Earnings per share for 2005 are expected to be EUR 0.90-1.05.
- The application of the new IFRS standards affects the presentation of the comparative information for 2004 such that the net effect of discontinued operations on the results for the period is presented on a single line as a separate item from continuing operations.

EUR million	1-3/2005	1-3/2004	Change, %	2004
CONTINUING OPERATIONS
Net sales	277.8	271.6	2	1,035.9
Gross profit	113.3	113.4		435.8
EBIT	21.5	27.4	-22	100.5
Financing income and expenses	-0.7	-1.7		-3.5
Earnings before taxes	20.8	25.7	-19	97.0
Net result, continuing operations	14.2	16.7	-15	68.6
Discontinued operations	-	13.5		14.0
Net result	14.2	30.2		82.6
Earnings per share, continuing operations, EUR	0.20	0.24		0.96
Earning per share, discontinued operations, EUR	-	0.19		0.20
ROCE, % *)	16.4	22.5		17.7

*) 12 months' rolling average

Roger Talermo, President and CEO, Amer Sports:

"The first quarter in the sports equipment market was in line with expectations. In January - March, Amer Sports' net sales grew by 2%. In local currency terms, net sales rose by 5%. In Asia Pacific, net sales grew by 29% thanks to surging sales in Japan.

In Fitness Equipment Division, the first and last quarters are the most critical periods of the year. In January-March 2005 the Fitness Equipment Division's net sales in local currencies grew by 12% compared to the corresponding period last year.

The Team Sports Division continued to perform well. Its net sales in local currencies rose by 9%. Suunto's net sales in local currencies were up 7%. The Racquet Sports Division's sales were in line with objectives in the January - March period and net sales rose by 6% in local currency terms.

The golf equipment market highly competitive, and the Golf Division's net sales remained on a par with last year in local currency terms. Sales of premium golf clubs rose clearly during January - March. The golf equipment season is now getting under swing - for this reason, full-year market trends in 2005 can only be assessed following the end of the second quarter.

The Winter Sports Division's net sales in local currencies fell by 8%. In Winter Sports, deliveries are heavily weighted towards the latter part of the year."

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Amer Sports corporation's interim report, January - March 2005

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