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.