The Swiss Conzzeta Group reports a sales increase of 3.4 percent to 103.6 million Swiss francs (€85.83m-$112.69m) in the first half of this year for its sporting goods business, represented essentially by the Mammut Sports Group. On an organic basis, excluding changes in foreign exchange rates for the Japanese yen and other currencies, the division posted a sales increase of 5.7 percent.
Sales grew only slightly for Mammut in the markets of Germany, Austria and Switzerland due to the poor snowfall, but this was more than offset by the performance in the rest of Europe, America and Asia. Footwear was the product segment that showed the strongest growth, but company officials declined to provide the related figures. Clothing came next.
The entire Conzzeta Group posted a sales increase of 3.1 percent to CHF 554 million (€458.96m-$602.60m), up 4.9 percent on a comparable basis and in terms of local currencies. Operating earnings grew by 4.9 percent to CHF 28.3 million (€23.45m-$30.78m), resulting in an Ebit margin of 4.9 percent. Group profit rose by 7.6 percent to CHF 23.2 million (€19.22m-$25.24m).
Meanwhile, the group has reported a “successful” completion on Aug. 29 of the planned offering of new shares. Conzzeta's shareholders exercised 95.7 percent of their rights, subscribing to 14,078 A shares on a one-for-eight basis. The others will remain the property of the former shareholders in Tegula, which owns 74 percent of Conzzeta (see the previous issue of The Compass about the reverse merger proposal).