The Outdoor segment of the Conzzeta Group, which basically consists of the Mammut Sports Group, suffered a drop of 26.2 percent in revenues on a currency-neutral basis in the first quarter. They were down by 28.2 percent on a reported basis to 50.8 million Swiss francs (€48.3m-$52.3m). The group noted that the decline in the division was mainly due to the closure of many retail stores because of the coronavirus pandemic, which meant the loss of its main sales channel.
As previously reported, Mammut and other operations of the group are up for sale. At the end of February, Conzzeta sold its Schmid Rhyner business unit, which should result in a capital gain of CHF 45 million (€42.8m-$46.3m). The group pointed out that it has enough liquidity and a sufficiently high equity ratio to implement initiatives and respond quickly and flexibly to future development. It has introduced measures to cushion the economic and social impacts of the epidemic, making use of support mechanisms being offered.
In view of the situation, which is affecting the majority of its customers and employees, the group’s different units are expanding the range of digital services and solutions.
Including sheet metal processing and other operations, the entire Conzzeta Group saw its revenues dip by 14.5 percent on an organic, currency-neutral basis, falling by 24.3 percent on a reported basis to CHF 298.4 million (€283m-$307m).