Slide 1: Amer Group Interim report January-June 2002
Amer Group Interim report January-June 2002 August 6, 2002
Slide 2: Highlights
Highlights • Amer Group has performed well despite difficult economic conditions in US and Europe • Comparable net sales and EBIT similar to last year – Strong cashflow and healthy balance sheet • Golf Division improved its profitability – Golf ball market continues to be challenging • Outlook for 2
Slide 3: Financial review
Financial review Pekka Paalanne CFO
Slide 4: January-June key indicators
January-June key indicators 2002/H1 2001/H1 FY 2001 EPS Net sales 552.2 550.8 1,099.8 (MEUR) Rolling 12 months (EUR) EBIT 38.5 47.9 98.6 (MEUR) 3,5 3 2,5 2,73 2,7 2,91 2,87 2,9 3,01 EBT 35.5 42.0 89.3 2,69 2,65 (MEUR) 2 1,5 1 EPS 1.10 1.35 2.90 (EUR) 0,5 0 00/III 00/IV 01/I 01/II 01/III 01/IV 02/I 0
Slide 5: April-June key indicators
April-June key indicators 2002/Q2 2001/Q2 FY 2001 Net sales Net sales 262.8 274.6 1,099.8 (MEUR) Rolling 12 months (MEUR) EBIT 23.2 33.5 98.6 (MEUR) 1200 1150 EBT 20.8 31.1 89.3 1100 (MEUR) 1105,7 1099,8 1101 1050 1086,6 1000 950 1022,1 1096,5 1123,9 1113 EPS 0.64 1.00 2.90 (EUR) 900 850 800 00/III
Slide 6: Profit and loss statement
Profit and loss statement 2002/H1 2001/H1 FY 2001 ROCE Net sales 552.2 550.8 1,099.8 Rolling 12 months EBIT 38.5 47.9 98.6 20 18 16,6 16,1 15,7 16,9 16,8 17,0 17,5 16,1 Net financials -3.0 -5.9 -9.3 EBT 35.5 42.0 89.3 16 14,3 14 12 10 8 6 4 Taxes -10.0 -9.7 -20.5 2 0 Net profit 25.5 32.3 68.5 00/II
Slide 7: Breakdown of net sales
Breakdown of net sales 2002/H1 2001/H1 FY 2001 Asia Pacific Other Racquet 144.4 143.5 264.8 Japan Golf 145.6 150.4 235.9 Team 120.6 117.2 204.7 Rest of Europe Winter sports 42.4 39.5 199.3 Sports inst. 44.1 42.9 83.4 Finland Tobacco 55.1 49.5 103.9 North 552.2 543.0 1,092.0 America Sold operations _
Slide 8: Breakdown of EBIT
Breakdown of EBIT 2002/H1 2001/H1 FY2001 Wilson 46.9 39.4 47.0 EBIT Winter sports -8.3 -5.0 40.2 Rolling 12 months Sports inst. 4.7 5.6 10.1 (MEUR) 120 Tobacco 5.0 4.9 9.6 100 101,6 99,8 98,6 HQ -5.2 7.0 0.3 99,5 80 92,5 94,9 95,1 89,2 Group goodwill -4.6 -4.7 -9.3 60 38.5 47.2 97.9 40 20 Sold opera
Slide 9: Balance sheet
Balance sheet 30 June 30 June 31 Dec 2002 2001 2001 Fixed assets 397.4 443.9 435.8 Inventories 167.8 191.1 155.2 Receivables 248.0 272.1 282.4 Cash 22.6 32.4 28.5 Equity 453.4 447.7 469.3 Int. bearing debt 108.4 188.7 143.0 - Long term 57.0 92.6 73.4 - Short term 51.4 96.1 69.6 Other liabilities 274
Slide 10: Key financial ratios
Key financial ratios 2002/H1 2001/H1 FY2001 Equity ratio and EqRatio % 52.8 46.7 50.7 gearing (%) Gearing % 20 36 26 60 50 40 30 20 10 0 00/I 00/II 00/III 00/IV 01/I 01/II 01/III 01/IV 02/I 02/II eq ratio gearing
Slide 11: Divisional highlights
Divisional highlights AMER SPORTS [LD] Wikson. SUUNTO A ATonic
Slide 12: Racquet sports
Racquet sports • EBIT increased slightly 02/H1 01/H1 Ch Net sales 144.4 143.5 1% • Triad racquets performing well • Improved sales in performance footwear • Net sales expected to remain stable, EBIT to improve
Slide 13: Golf
Golf • EBIT improved significantly 02/H1 01/H1 Ch Net sales 145.6 150.4 -3% • Performance club sales grew substantially (“Deep Red”) • Golf ball sales declined • The market continues to be very competitive • Net sales expected to decline slightly, return to profitability in 2002
Slide 14: Team sports
Team sports • EBIT improved 02/H1 01/H1 Ch Net sales 120.6 117.2 3% • Active product development: premium products • DeMarini F2 Half and Half • A3000 performance baseball glove • Net sales expected to grow slightly; EBIT similar to last year’s level
Slide 15: Winter sports
Winter sports 02/H1 01/H1 Ch • Pre-orders at last year’s level Net • Market expected to decline sales 42.4 39.5 7% EBIT -8.3 -5.0 • R&D and production of ski boots centralised at Altenmarkt • Production facility in Köflach sold • Ski boot assembly to be outsourced • Net sales expected to grow; EBIT
Slide 16: Sports instruments
Sports instruments • Wristop computers sales up 36% 02/H1 01/H1 Ch Net sales 44.1 42.9 3% • Sales of diving instruments stable EBIT 4.7 5.6 • New products • Shipments of Suunto X6 HR will start in August • Suunto M9 and Suunto G9 to the market during H2/2002 • Net sales and EBIT expected to grow in
Slide 17: Tobacco
Tobacco • Tax free deliveries to 02/H1 01/H1 Ch neighbouring areas Net sales 55.1 49.5 11% • Net sales expected to grow; EBIT 5.0 4.9 EBIT to decline slightly in 2002
Slide 18: Outlook for full year 2002
Outlook for full year 2002 • Sporting goods market expected to remain stable in 2002 • Amer Group’s operations balanced by the strong portfolio of sports and global presence • Solid outlook for 2002
Slide 19: Amer Sports One & Amer Sports Too
Amer Sports One & Amer Sports Too
Slide 20: Target: To be the no. 1 sports equipment company in the world
Target: To be the no. 1 sports equipment company in the world