Amer Sports, Inc. · NYSE:AS
Amer Sports — Q1-Q3 2004 Earnings Presentation
12 slides from Amer Sports's earnings presentation, Oct 27, 2004
Slide 1: Interim Report January - September 2004
Interim Report January - September 2004 October 27, 2004 Highlights 2004 will be a year of growth for Amer Sports – Positive progress in the sports equipment market Amer Sports’ sales +10% in Q1-Q3* – Strongest growth in Fitness Equipment, +30% – Winter Sports +10% – Sell-through of golf equipme
Slide 2: January – September key indicators
January – September key indicators Q1-Q3/04 Q1-Q3/03 2003 Net sales (MEUR) 797.8 828.7 1,094.1 EBIT(MEUR) 86.9 97.9 117.7 EPS (EUR) 2.54 2.81 3.35 Profit and loss statement January – September MEUR Q1-Q3/04 Q1-Q3/03 Ch% 2003 Net sales 797.8 828.7 -4 1,094.1 EBIT 86.9 97.9 -11 117.7 Net financials -2
Slide 3: Breakdown of net sales January – September
Breakdown of net sales January – September MEUR Ch% in local Q1-Q3/04 Q1-Q3/03 Ch% currencies 2003 Racquet Sports 171.0 170.4 - 5 207.4 Golf 126.6 133.7 -5 -2 156.1 Team Sports 143.0 141.1 1 12 181.0 Winter Sports 125.1 116.2 8 10 188.2 Fitness Equipment 151.5 127.8 19 30 175.5 Sports Instruments 57
Slide 4: Breakdown of EBIT January – September
Breakdown of EBIT January – September MEUR Q1-Q3/04 Q1-Q3/03 Ch% 2003 Racquet Sports 22.4 18.7 20 20.6 Golf 3.4 -0.9 -12.4 Team Sports 18.9 19.1 -1 23.3 Winter Sports 9.1 12.3 -26 28.3 Fitness Equipment 16.3 19.3 -16 26.8 Sports Instruments 5.5 6.1 -10 7.7 HQ -7.6 -4.7 -6.6 Patent Settlement - 20.5
Slide 5: Profit and loss statement July – September
Profit and loss statement July – September MEUR Q3/04 Q3/03 Ch% 2003 Net sales 278.7 297.9 -6 1,094.1 EBIT 34.4 62.7 -45 117.7 Net financials -1.5 -2.2 -8.2 EBT 32.9 60.5 -46 109.5 Taxes -7.8 -17.1 -31.0 Net result 25.0 43.3 -42 78.1 Breakdown of net sales July – September MEUR Ch% in local Q3/04 Q3
Slide 6: Breakdown of EBIT July – September; Balance sheet
Breakdown of EBIT July – September MEUR Q3/04 Q3/03 2003 Racquet Sports 7.7 7.9 20.6 Golf -4.6 -4.8 -12.4 Team Sports 3.6 3.1 23.3 Winter Sports 24.0 24.9 28.3 Fitness Equipment 4.2 7.5 26.8 Sports Instruments 2.0 2.0 7.7 HQ -2.5 -1.2 -6.6 Patent Settlement - 20.5 20.5 34.4 59.9 108.2 Tobacco - 2.8
Slide 7: Equity ratio and gearing; Divisional highlights
Equity ratio and gearing, % 60 50 40 Eq ratio 30 Gearing 20 10 0 III/03 IV/03 I/04 II/04 III/04 30 Sept 2004 30 Sept 2003 31 Dec 2003 EqRatio % 52.1 47.0 48.6 Gearing % 34 36 33 Divisional highlights Roger Talermo President & CEO 7
Slide 8: Winter Sports and Racquet Sports
Winter Sports Growth driven by smaller winter sports product categories – Sales of alpine skis similar to last year’s level Net sales expected to grow by c. 10% in 2004 (in local currencies) – Weaker USD reducing sales margins in North America Ch% in local MEUR Q1-Q3/04 Q1-Q3/03 Ch% currencies N
Slide 9: Golf and Team Sports
Golf Sell-through slow – Golf club sales similar to last year’s level – Golf ball sales -9% New high-end Wilson Staff product line – Re-positioning the Wilson golf brand – Sales expectations focused on 2005 – www.wilsonstaff.com Main goal in 2004: positive EBIT Ch% in local MEUR Q1-Q3/04 Q1-Q3
Slide 10: Fitness Equipment and Sports Instruments
Fitness Equipment Strong growth in elliptical cross-trainers, treadmills and stationary cycles Integration of FPI and ClubCom Sales outside the Americas +38% EBIT impacted by a dispute settlement and rising steel prices Ch% in local MEUR Q1-Q3/04 Q1-Q3/03 Ch% currencies Net sales 151.5 127.8
Slide 11: D9 and Outlook
D9 The all-in-one dive computer Combining a compass and a dive computer Measuring tank pressure wirelessly Outlook 100% focused sports equipment company Strategy backed up by increasing leisure time, living standards and awareness of the importance of physical and mental wellbeing Sports
Slide 12: Target: To be the no. 1 sports equipment company in the world
Target: To be the no. 1 sports equipment company in the world 12