Business news :Lafuma Group, further decline in revenues in the first quarter

Anneyron, January 31, 2013

Press release – Q1 Sales revenue 2012/2013

Sales per division (in EUR millions)		Q1 11/12		Q1 10/11		Variation
Great Outdoor - Lafuma		14.2		13.6		+4.4%
Board Sports - Oxbow		8.0		9.0		-11%
Country - Le Chameau		6.0		5.4		+11.4%
Mountain - Millet / Eider		26.5		24.4		+8.5%
Lafuma Group		54.7		52.4		+4.4%
Sales per geographical zone (in EUR millions)		Q1 11/12		Q1 10/11		Variation
France		31.4		32		-2.2%
International		23.3		20.4		+14.7%
Lafuma Group		54.7		52.4		+4.4%

* Country and Ober activities, sold or being sold
** CS - Comparable scope of consolidation (excluding Country and Ober activities)
*** CSEE - Comparable scope and even exchange rate

Decline in activity in a difficult context for consumer spending

All of the Lafuma group divisions registered declines in sales during the course of the first quarter, especially with a
44.2% drop in sales in the Board Sports division; the Great Outdoor division with the Lafuma brand also recorded
declines of 18.0 % and the Mountain division with the Millet, Eider and Killy brands was down 5.9%.
All of the Group brands operate on a market that is particularly flat in Europe, and on the Asian market that is less
dynamic compared to previous seasons.
In this context, the Millet and Eider brands have held up particularly well thanks to the implementation of a coherent
product and sales strategy. This said, the Lafuma brand is penalized by its generalist outdoor positioning, and is in
competition with vertically integrated distributors that have their own private labels. The Oxbow brand is not exempt
from this extremely difficult market trend observed across the spectrum of board sports brands around the world.

 

Outlook

Over the upcoming quarters, the Group will concentrate on stabilizing sales and improving profitability. In parallel it will
focus on the quality of its product offer, services and sales strategy for each one of its brands. The Group expects to
register a decline in sales over the full 2012/2013 fiscal year, even if the negative trend noted over the first quarter is
expected to lessen over the upcoming quarters.
Although Group profitability has been impacted by this substantial decline in sales, the different initiatives launched in
2011/2012, notably the sale of the Country division with the Le Chameau brand for 16.5 million euros, have enabled
the Group to secure its working capital needs and adapt to a market reality that has become more difficult.

For further information please contact: infos-finance@lafuma.fr
NewCap. Sophie Boulila / Emmanuel Huynh – Tel : +33 (0)1 44 71 94 91 – lafuma@newcap.fr
Lafuma shares are traded on NYSE Euronext Paris. Euroclear: 3526. Reuters: LAFU.PA. Bloomberg: LAF FP

More news about lafuma, use the search tool at the right top of the page.