Changes in segment reporting
Amer Sports has revised its segment reporting. The redefined business segments are Salomon, Wilson, Precor, Atomic and Suunto. The new segment structure is in line with the Group's current organization structure and management reporting. The revision came into force on January 1, 2006.
Salomon has been divided into the following business areas: Winter Sports Equipment, Apparel and Footwear as well as Mavic. Wilson's business areas are Racquet Sports, Team Sports and Golf. Net sales figures will be reported for these business areas.
The Group's geographical segments will remain unchanged, and they are the Americas, EMEA (Europe, Middle East and Africa) and Asia-Pacific (including Japan and Australia).
Use of pro forma figures as comparison information
In its profit and loss statement information for 2006, Amer Sports will use pro forma figures for 2005 - in which Salomon has been accounted for as from January 1, 2005 - as its primary comparison information. The figures do not include nonrecurring items related to the Salomon acquisition.
The Group's pro forma financial income and expenses for 2005 have been estimated using a capital structure that assumes Salomon had been acquired at the beginning of 2005.
Pro forma taxes have been assessed in accordance with ordinary tax rates without the effect of non-recurring items.
Pro forma information for the profit and loss statement as well as earnings per share are presented below. Pro forma comparisons will not be made in the case of the balance sheet and other key figures. The pro forma figures have not been audited.
PRO FORMA NET SALES AND EBIT BY BUSINESS SEGMENTS 2005
EUR million
|
I |
II |
III |
IV |
2005 |
| NET SALES |
385 |
304.9 |
483.6 |
558.5 |
1,732.00 |
| Cost of goods sold |
-241.5 |
-183.6 |
-279.4 |
-343.1 |
-1,047.60 |
| GROSS PROFIT |
143.5 |
121.3 |
204.2 |
215.4 |
684.4 |
| License income |
4.7 |
3.9 |
5.5 |
5.7 |
19.8 |
| Other operating income |
1.3 |
7.2 |
0.4 |
2.2 |
11.1 |
| R&D expenses |
-14.1 |
-14.6 |
-13.1 |
-16.8 |
-58.6 |
| Selling and marketing expenses |
-107.9 |
-96.2 |
-100.6 |
-106.2 |
-410.9 |
| Administrative and other expenses |
-30.5 |
-32.8 |
-32.9 |
-32.5 |
-128.7 |
| EARNINGS BEFORE INTEREST AND TAXES |
-3 |
-11.2 |
63.5 |
67.8 |
117.1 |
| Financing income and expenses |
-5 |
-5.5 |
-6.9 |
-6.6 |
-24 |
| EARNINGS BEFORE TAXES |
-8 |
-16.7 |
56.6 |
61.2 |
93.1 |
| Taxes |
3 |
5.7 |
-19 |
-20.4 |
-30.7 |
| Minority interest |
0 |
-0.1 |
-0.2 |
0.1 |
-0.2 |
| NET RESULT |
-5 |
-11.1 |
37.4 |
40.9 |
62.2 |
|
|
|
|
|
|
| Earnings per share, EUR |
-0.07 |
-0.16 |
0.53 |
0.57 |
0.87 |
| Earnings per share, diluted, EUR |
-0.07 |
-0.16 |
0.52 |
0.57 |
0.86 |
REPORTED NET SALES AND EBIT BY BUSINESS SEGMENTS 2005
EUR million
|
I |
II |
III |
IV |
2,005.00 |
| NET SALES |
277.8 |
233.2 |
294.2 |
558.5 |
1,363.70 |
| Cost of goods sold |
-164.5 |
-139.6 |
-171.4 |
-341.6 |
-817.10 |
| GROSS PROFIT |
113.3 |
93.6 |
122.8 |
216.9 |
546.6 |
| License income |
3.8 |
2.9 |
3.8 |
5.7 |
16.2 |
| Other operating income |
0.7 |
7.2 |
0.3 |
2.2 |
10.4 |
| R&D expenses |
-7.4 |
-7.8 |
-7.5 |
-16.7 |
-39.4 |
| Selling and marketing expenses |
-69 |
-63.2 |
-64.2 |
-106.2 |
-302.6 |
| Administrative and other expenses |
-19.9 |
-20.6 |
-19.7 |
-34.1 |
-94.3 |
| Non-recurring items related to the Salomon acquisition |
- |
- |
- |
-54.6 |
-54.60 |
| EARNINGS BEFORE INTEREST AND TAXES |
21.5 |
12.1 |
35.5 |
13.2 |
82.3 |
| Financing income and expenses |
-0.7 |
-2.1 |
-0.8 |
-5.4 |
-9 |
| EARNINGS BEFORE TAXES |
20.8 |
10 |
34.7 |
7.8 |
73.3 |
| Taxes |
-6.6 |
-3.1 |
-10.9 |
22.7 |
2.1 |
| Minority interest |
0 |
-0.1 |
-0.2 |
0.1 |
-0.2 |
| NET RESULT |
14.2 |
6.8 |
23.6 |
30.6 |
75.2 |
|
|
|
|
|
|
| Earnings per share, EUR |
0.2 |
0.09 |
0.34 |
0.42 |
1.05 |
| Earnings per share, diluted, EUR |
0.2 |
0.09 |
0.33 |
0.42 |
1.04 |
SALOMON NET SALES BY BUSINESS AREA 2005
EUR million
|
I |
II |
III |
IV |
2005 |
| Winter Sports Equipment |
38.3 |
20.8 |
111.3 |
178.2 |
348.6 |
| Apparel and Footwear |
43.5 |
27.7 |
55.3 |
49.1 |
175.60 |
| Mavic |
25.4 |
23.2 |
22.8 |
27.9 |
99.30 |
| Total |
107.2 |
71.7 |
189.4 |
255.2 |
623.5 |
PRO FORMA GEOGRAPHIC BREAKDOWN OF NET SALES
EUR million
|
I |
II |
III |
IV |
2005 |
| Americas |
194.4 |
164.2 |
216.5 |
208.2 |
783.3 |
| EMEA |
155.3 |
100.7 |
222.8 |
279.5 |
758.30 |
| Asia Pacific |
35.3 |
40 |
44.3 |
70.8 |
190.40 |
| Total |
385 |
304.9 |
483.6 |
558.5 |
1,732.00 |
REPORTED GEOGRAPHIC BREAKDOWN OF NET SALES
EUR million
|
I |
II |
III |
IV |
2005 |
| Americas |
174.3 |
149.4 |
148 |
208.2 |
679.9 |
| EMEA |
72.6 |
52.9 |
116.1 |
279.4 |
521.00 |
| Asia Pacific |
30.9 |
30.9 |
30.1 |
70.9 |
162.80 |
| Total |
277.8 |
233.2 |
294.2 |
558.5 |
1,363.70 |
FOR ADDITIONAL INFORMATION, CONTACT:
Mr Pekka Paalanne, Senior Vice President & CFO, tel. +358 9 7257 8212
AMER SPORTS CORPORATION
Communications
Ms Maarit Mikkonen
Communications Manager
Tel. +358 9 7257 8306, e-mail: maarit.mikkonen@amersports.com
DISTRIBUTION:
Helsinki Stock Exchange
Major media
www.amersports.com
AMER SPORTS CORPORATION
Amer Sports (www.amersports.com) is the world's leading sports equipment company with internationally recognized brands including Wilson, Atomic, Suunto, Precor, Salomon, and Mavic. All Amer Sports companies develop and manufacture technically advanced products that improve the performance of active sports participants. The Group's business is balanced by its broad portfolio of sports and presence in all major markets. |
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