Net revenues increased by 6.9 percent on a comparable basis during the first half of 2019 to 117.9 million Swiss francs (€108.8m-$120.8m) in the Outdoor segment of the Conzzeta Group, which essentially consists of the Mammut Sports Group.
Its operating loss declined to CHF 5.3 million (€4.9m-$5.4m) from CHF 6.4 million in the same weak-season period of 2018, in spite of higher personnel costs related to the execution of a five-year strategic plan initiated in 2016 under Mammut's new chief executive, Oliver Pabst.
Conzzeta said that Mammut managed to improve its gross margin through innovative products, with a reduction in the number of styles and a consistent pricing strategy. The clothing collection that the brand presented at the recent OutDoor by Ispo show was almost completely new.
Mammut's digital revenues achieved disproportionate growth during the latest period, while raising sales in its own retail stores, and it deepened its collaboration with selected specialist retailers.
The Swiss group indicated that the expertise that Mammut has built up in the field of digitalization will allow the brand to achieve a more balanced presence across all sales channels.
Outdoor was the only segment that registered an operating loss within the Conzzeta Group in the first half of this year, but also the only one that boosted its sales. Across the group, sales declined by 5.6 percent on a comparable basis, down to CHF 770.1 million (€710.6m-$789.0m), but the operating margin remained stable at 7.6 percent of sales on an adjusted basis, excluding a gain of CHF 30.6 million (€28.2m-$31.4m) from the disposal of Conzzeta's glass processing segment.
Thanks to the sale, the net profit of the group grew by 53.0 percent to CHF 78.2 million (€72.2m-$80.1m) during the six-month period.