Outdoor –
Mammut Sports Group

The Outdoor segment (Mammut) generated net revenue of CHF 80.9 million (previous year: CHF 117.9 million). On a comparable basis, net revenue was down 29.1% on the previous year. The operating result in the seasonally weaker first half of the year was CHF –23.3 million (CHF –5.3 million). The offline sales channel with specialist retailers and monobrand stores, which dominates in terms of share of revenue, remained almost completely closed for around 40 days in the first half of the year, whereas net revenue in the digital channels increased significantly. The delivery of most of the summer collection was delayed until mid-May due to the closed stores. Because of the temporary interruptions in the production of the winter collection, this too had to be re-planned to a large extent with considerable effort.

In the context of Mammut’s strategy and to mitigate the impact of the pandemic, various measures were introduced in the reporting period. These include a further organizational development step to strengthen organizational responsibilities and streamline central processes. With new overall responsibilities for “Brand & Consumer” and “Products”, the aim is to accelerate the expansion of the direct-to-consumer business, to sharpen the market presence across all channels and to make fundamental improvements in the supply chain. In addition, the further focusing of the product portfolio and the optimization of Mammut’s international presence are planned, whereby initial restructuring costs of CHF 1.6 million were incurred in the first half of the year. The measures are intended to adapt the organization to existing challenges and changing market requirements and to structurally improve profitability.

In coping with the pandemic, as part of the sustainability strategy WE CARE, care was taken to protect the suppliers by, among other things, not canceling any orders for which production had already started or been completed. The “Close the Loop” project to recycle climbing ropes was launched in collaboration with a climate protection organization in order to conserve natural resources in outdoor sports. In the reporting period, the new purpose statement “To create a world moved by mountains” arose from Mammut’s long-standing systematic concern with the social and environmental aspects of its own business activities. This is because, in addition to ensuring adequate profitability, sustainable management that includes all stakeholders is becoming more important for Mammut’s own future viability.