Business news :Lafuma Group Sales for the 1st half 2012/2013, Removing activity in an unfavorable consumption

April 23, 2013 1:30 pm EST - New York / Summer Time (USA)

As expected, the negative trend in the first quarter was maintained during the second quarter of 2012/2013. The activity of the Lafuma Group declined throughout the period of -15.4% (against 15.8% in Q1) to € 102.7 million. 
Over the first half, all business segments of the Group recorded a decline in their activity:

Surfing division confirmed the very significant decline in sales with a decrease of -35.2% to € 17.6 million;
   
The Great Outdoor division is also down with a decrease in activity of -16.5% (-14.5% for the textile industry / equipment and -18.8% for the furniture business) to 38.9 million €;
     
The Pole Mountain, with Millet, Eider and Killy brands recorded a more moderate decline of 3.0% to € 46.2 million. 

All the Group's brands operate in a particularly sluggish market in France (-14.7%) and Europe (-16.6%). The less dynamic than in previous seasons Asian market (-7.1%), is penalized by the fluctuations (the weaker yen leads to lower turnover of € 0.6 million). 

In this context, the Millet brand (-3.4%) and Eider (-2.1%) due to resist the implementation of a coherent strategy and commercial products. The Oxbow brand in a market surfing extremely difficult for all brands in the world, continues its withdrawal, particularly in its wholesale business. Finally, Lafuma is penalized by its positioning as a general Outdoor textile / equipment activity and trade policy of minimum stock of its distributors for the furniture business. 

Perspectives 

In this particularly challenging environment, the Group focuses on improving the efficiency and quality of its turnover. The Lafuma Group is also working on the business strategy of each brand and continues to work on the quality of product offerings and services. 

In view of the order book currently available, the Group expects a decline in sales for the entire fiscal year 2012/2013 and anticipates a stabilization of the decrease in activity over the next pole quarters. The Lafuma Group confirms a significant decrease in activity that will significantly affect its profit and the value of its assets for the year 2012/2013. 

The new management team of the Group, in place since January 15, 2013, will present its development plan in June 2013, on the occasion of the presentation of the interim financial statements 2012/2013.


Groupe LAFUMA (Paris:LAF) :

Activité par pôle (en M€)				S1 12/13				S1 11/12				S1 11/12 PC**				Variation N/N-1 PCC***				Variation N/N-1 (en %) PCC***
Grand Outdoor - LAFUMA				38,9				45,1				46,7				-7,7				-16,5%
Surf - OXBOW				17,6				27,2				27,2				-9,6				-35,2%
Montagne - MILLET / EIDER				46,2				48,2				48,2				-1,4				- 3,0%
Autres*				-				11,7				-				-				0,0%
Groupe LAFUMA				102,7				132,3				122,0				-18,7				-15,4%
Activité par zone géographique (en M€)				S1 12/13				S1 11/12				S1 11/12 PC**				Variation N/N-1 PCC***				Variation N/N-1 (en %) PCC***
France				59,2				76,9				69,4				-10,2				-14,7%
International				43,5				55,5				52,6				- 8,4				-16,2%
Groupe LAFUMA				102,7				132,3				122,0				-18,7				-15,4%
* : Activités Country et Ober, cédées ou en cours de cession
** : PC - Périmètre Constant (hors activité Country et Ober)
*** : PCC - Périmètre et Change Constant

For further information, please contact: infos-finance@lafuma.frLafuma is listed on NYSE Euronext Paris. Euroclear: 3526. Reuters: LAFU.PA. Bloomberg: LAF FPContacts


NewCap.Sophie Boulila / Emmanuel Huynh, 01 44 71 94 91lafuma@newcap.fr 

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