Amer Sports moves into the next phase of restructuring to further accelerate profitable long-term growth towards 2020
July 24, 2014 - London
Amer Sports Corporation
STOCK EXCHANGE RELEASE
July 24, 2014 at 12.50 pm
Following the successful completion of the restructuring announced in 2012 Amer Sports now moves into the next phase of restructuring. The primary objectives are to re-ignite profitable growth in Ball Sports and to further accelerate Amer Sports' growth towards 2020 especially in Apparel and Footwear, Business to Consumer, and digital products and services. The program will help to drive further scale and synergies across the Group and it will enable re-allocation of resources into the focus acceleration areas.
This phase of the restructuring will be executed during the next 18-24 months. Related non-recurring expenses of approximately EUR 60 million will mostly be recognized during the second half of 2014. Approximately EUR 25 million of the total expenses will have cash flow impact.
The restructuring is Group-wide and focused on the following key areas:
- Re-igniting profitable growth in Ball Sports, especially in Individual Ball Sports, including termination of low-profitability sales and non-core product lines and related R&D, and restructuring of Wilson Apparel and Footwear and Go-to-Market model.
- Resource re-allocation to support faster growth in the Group's strategic growth areas: Apparel and Footwear, Business to Consumer, and consumer engagement through digital products and services.
- Driving further scale and synergies and decreasing complexity and duplication in business areas, regions, functions, sites and platforms.
For further information, please contact:
Päivi Antola, Director, Corporate Communications and IR, tel. +358 20 712 2537
Amer Sports Corporation
NASDAQ OMX Helsinki
Amer Sports (www.amersports.com) is a sporting goods company with internationally recognized brands including Salomon, Wilson, Atomic, Arc'teryx, Mavic, Suunto and Precor. The company's technically-advanced sports equipment, footwear and apparel improve performance and increase the enjoyment of sports and outdoor activities. The Group's business is balanced by its broad portfolio of sports and products and a presence in all major markets. Amer Sports shares are listed on the NASDAQ OMX Helsinki stock exchange (AMEAS).
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Amer Sports Oyj via Globenewswire