Mammut’s parent reports sales for first half of ‘10
The Conzzeta Group, parent of Mammut Sports, reported a 4.7-percent increase in consolidated net revenues for the first half of 2010, noting that developments in the outdoor market remained stable.
Consolidated net revenues were CHF 473.6 million (USD $454.4 million), compared with the previous year’s CHF 452.3 million (USD $434.0 million). Adjusted for negative currency translation effects of 1.4 percent and a divestment effect, the company said the increase was 7.1 percent. All the business units active in Asian markets benefited from an early recovery and strong growth in the region, it added.
The group’s EBIT swung into the black: CHF 13.1 million (USD $12.5 million) versus last year’s loss of CHF 36.0 million (USD $34.5 million) -- equivalent to an EBIT margin of 2.6 percent. The Group result at the end of June 2010 was CHF 11.3 million (USD $10.8 million) versus a loss of CHF 19.6 million (USD $18.8 million) last year.
At the end of the first half of 2010, operating free cash flow amounted to CHF 5.8 million (USD $5.5 million) versus CHF 33.8 million (USD $32.4 million) last year.
The sporting goods business unit, which includes Mammut Sports Group, generated net revenues in the first half of 2010 of CHF 95.0 million (USD $91.1 million) -- an increase of 1.2 percent over last year’s CHF 93.9 million (USD $90.1 million). Adjusted for currency translation effects, the growth was 2.7 percent.
The company reported that the German and Japanese markets grew in the first half compared with the same period of last year. In the home market of Switzerland, the company said the sporting goods unit was unable to build on the high level of the previous year, with retailers reporting lower sales, particularly of summer ranges.
(Conversion of Swiss francs into U.S. dollars is for information only, is not necessarily relative to earnings, and is based on the currency rate as of Aug. 18.)
--Compiled by Wendy Geister
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