Outdoor –
Mammut Sports Group

The Outdoor segment generated net revenue of CHF 268.4 million in 2019 (previous year: CHF 253.4 million). On a comparable basis, i.e. at stable exchange rates, revenue increased by 6.8%. The operating result amounted to CHF 7.5 million (CHF 5.2 million), yielding an EBIT margin of 2.8% (2.1%). The result includes a weak delivery performance in the third quarter with declining sales and loss of earnings due to the processing of defective textiles by a supplier as well as internal difficulties in providing the largely renewed collection across the expanded sales channels. Despite this, revenue for the year increased in all three regions, Europe, America and Asia. The high level of acceptance of the newly launched products as well as the development of digital sales channels as part of the five-year strategic plan started in 2016 had a favorable impact.

The evaluation of options to accelerate development, which was announced by the Group in August 2019, led to the realization that there is significant growth potential, particularly in the target markets outside Europe. Since the Group ultimately does not have the necessary market access outside Europe, a suitable buyer will be sought, who will be able to realize this potential and therefore be able to further strengthen the future viability of the brand. This can be built on the progress made in the ongoing strategy program, which laid the foundations for further profitable growth in the context of changing consumer habits and the ongoing shift from stationary to online stores. To this end, cooperation with specialist retailers was selective strengthened, online channels were expanded and the collection was extensively rejuvenated.