Slide 1: Amer Group: A Leading Supplier of Sporting Goods Equipment
Amer Group A Leading Supplier of Sporting Goods Equipment with Global Brands Interim results 2002 / Q1 Roger Talermo
Slide 2: Highlights
Highlights • Comparable net sales up by 8% and operating profit by 13% • Golf division improved profitability • Results for 2002 expected to reach last year’s good level
Slide 3: Key indicators
Key indicators 2002/Q1 2001/Q1 FY 2001 EPS Net sales 289.4 276.2 1,099.8 (MEUR) Rolling 12 months (EUR) EBIT 15.3 14.4 98.6 (MEUR) 3,5 3 2,91 2,87 2,9 3,01 EPS 0.46 0.35 2.90 2,5 2,73 2,7 2,69 (EUR) 2 2,24 1,5 1 0,5 0 00/II 00/III 00/IV 01/I 01/II 01/III 01/IV 02/I
Slide 4: Financial review
Financial review Pekka Paalanne CFO
Slide 5: Breakdown of net sales
Breakdown of net sales 2002/Q1 2001/Q1 FY 2001 Racquet 73.8 69.4 264.8 Net sales Golf 66.2 60.5 235.9 Rolling 12 months Team 72.0 68.1 204.7 (MEUR) Winter sports 31.1 28.4 199.3 Sports inst. 21.5 19.9 83.4 1150 1100 1096,5 1123,9 1113 Tobacco 24.8 22.2 103.9 1050 1086,6 1105,7 1099,8 289.4 268.5 1,0
Slide 6: Breakdown of EBIT
Breakdown of EBIT 2002/Q1 2001/Q1 FY2001 Wilson 17.9 13.3 47.0 EBIT Winter sports -1.5 0.2 40.2 Rolling 12 months Sports inst. 1.6 2.4 10.1 (MEUR) Tobacco 1.7 2.0 9.6 HQ -2.1 -1.9 0.3 120 100 Group goodwill -2.3 -2.4 -9.3 101,6 99,8 80 92,5 94,9 95,1 98,6 99,5 15.3 13.6 97.9 75,4 60 Sold operations
Slide 7: Profit and loss statement
Profit and loss statement 2002/Q1 2001/Q1 FY 2001 Net sales 289.4 276.2 1,099.8 EBIT 15.3 14.4 98.6 Net financials -0.6 -3.5 -9.3 EBT 14.7 10.9 89.3 (+35%) Taxes -4.1 -2.5 -20.5 Net profit 10.6 8.4 68.5
Slide 8: Balance sheet
Balance sheet 2002/Q1 2001/Q1 FY2001 Fixed assets 430.2 446.1 435.8 Inventories 162.2 171.1 155.2 Receivables 292.0 299.6 282.4 Cash 33.7 32.2 28.5 Equity 454.6 437.2 469.3 Int. bearing debt 139.8 225.4 143.0 - Long term 71.2 116.3 73.4 - Short term 68.6 109.1 69.6 Other liabilities 323.7 286.4 289.
Slide 9: Key financial ratios
Key financial ratios 2002/Q1 2001/Q1 FY2001 Equity ratio and ROCE % *) 17.5 15.7 17.0 gearing (%) EqRatio % 48.1 44.7 50.7 60 50 Gearing % 25 47 26 40 30 *) Rolling 12 months 20 10 0 99/IV 00/I 00/II 00/III 00/IV 01/I 01/II 01/III 01/IV 02/I eq ratio gearing
Slide 10: Divisional highlights
Divisional highlights AMER SPORTS [LD] Wikson. SUUNTO A ATonic
Slide 11: Racquet sports
Racquet sports • Result similar to last year’s level ‘02/Q1 ‘01/Q1 Ch Net sales 73.8 69.4 6% • Sales of Triad racquets have been strong: • Triad 3.0 the best selling performance racquet in the world • Net sales and EBIT expected to improve
Slide 12: Golf
Golf • Profitability improved ‘02/Q1 ‘01/Q1 Ch • Growth in performance club sales Net sales 66.2 60.5 9% • Lower operating expenses • The golf ball market continues to be very competitive • Deliveries of Wilson Staff True ball began in February in the USA • Net sales expected to grow slightly, retur
Slide 13: Team sports
Team sports • Operating profit improved ‘02/Q1 ‘01/Q1 Ch Net sales 72.0 68.1 6% • Sales grew particularly outside the USA • Net sales expected to grow slightly • Recent product launches have been well received by the market • EBIT expected be similar to last year’s good level
Slide 14: Winter sports
Winter sports ‘02/Q1 ‘01/Q1 Ch • Atomic continues to gain market Net share in alpine skiing sales 31.1 28.4 10% • US sales grew by 39% EBIT -1.5 0.2 • High investment in R&D and marketing • Net sales expected to grow, EBIT to decline slightly • Some market uncertainty due to poor weather conditions
Slide 15: Sports instruments
Sports instruments • Key products made good progress ‘02/Q1 ‘01/Q1 Ch • Wristop computers up by 35% Net • Diving instruments’ growth hit by travel sales 21.5 19.9 8% industry slowdown EBIT 1.6 2.4 • Investment in R&D and marketing • Acquisition of 60% of Meiga Innovations strengthens Suunto in sport
Slide 16: Tobacco
Tobacco • Increased sales in Finland, new ‘02/Q1 ‘01/Q1 Ch tax free deliveries Net sales 24.8 22.2 12% • Market development positive EBIT 1.7 2.0 • Net sales expected to grow; EBIT to decline slightly
Slide 17: Outlook for full year 2002
Outlook for full year 2002 • Outlook for our markets has remained stable • Operations are balanced by the strong portfolio of sports and our global presence • The Group’s results are expected to reach last year’s good level
Slide 18: Amer Sports One & Amer Sports Too
Amer Sports One & Amer Sports Too
Slide 19: Target: To be the no. 1 sports equipment company in the world
Target: To be the no. 1 sports equipment company in the world