Annual report
1999-03-01, 01:00
* Amer Groups performance was as planned in 1998. Operating profit amounted to FIM 133 million (1997:
FIM 77 million). Adjusted for discontinued operations, comparable operating profit in 1997 was FIM 18
million. Profit before extraordinary items totalled FIM 32 million, compared to a loss of FIM 53 million in
1997. Adjusted earnings per share were FIM 0.70 (1997: a loss of FIM 3.00).
* Wilson is back on track with all of its divisions in the black. The Golf and the Team Sports Divisions both
improved their performance significantly. Moreover, Atomics alpine skis profitability improved consider-ably.
However, due to weak market conditions and reorganisation, Oxygens in-line skate business generated
a heavier loss than anticipated and, as a result, the Atomic Companies remained clearly in the red.
* The reorganisation of Atomic and the Köflach factory, which manufactured in-line skates, was completed
last year. The industrial risk associated with the in-line skate business has been eliminated and, in the future,
skates will be sourced from Asian subcontractors. The in-line skate business will no longer burden the
Groups result significantly in the current year.
* The most rapidly growing product categories were alpine skis (35%), premium golf clubs (42%) and
basketballs (39%).
* Overall, Amer Groups performance has turned around. In the next phase it is time to concentrate on seeking
profitable growth and boosting market shares.
The complete Year-end report including tables is available to download from the enclosed link below.