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AMER SPORTS Q1/2013A satisfactory start to the year, growth outlook in line with the long-term targetsApril 25, 2013, Heikki Takala, President and CEO

• Seasonally low quarter, own building blocks impact mostly Q2 onwards

• Net sales EUR 493.0 million (489.8), +2% in local currencies- Apparel +25%, Fitness +6%, Sports Instruments +4%, Russia +34%,

Q1: Strong progress in strategic growth areas

Apparel 25%, Fitness 6%, Sports Instruments 4%, Russia 34%, China 26%, B2C 30%

- Winter Sports Equipment, Footwear, Cycling and Individual Ball Sportsat last year’s level, Team Sports -9%

- Challenging trading conditions in Europe. Continuous move into re-order bias especially in Footwear

- EMEA +6%, Americas -4%, APAC +6%

• Gross margin 44.2% (44.2%)- Improved in Apparel and Footwear, unchanged in the other business areas,

Amer Sports Results Presentation

Improved in Apparel and Footwear, unchanged in the other business areas, declined in Fitness due to sales mix and sequencing of vendor rebates

• EBIT EUR 26.4 million (29.6)- Sales volumes up EUR 4 million- Operating expenses up EUR 10 million- Other income and expenses and currencies EUR +3 million

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Solid Q1 Free Cash Flow

100

EUR 145m EUR 146m EUR 165mEURm

• Q1 Free Cash Flow affected by repatriation of fall/winter season

-20

0

20

40

60

80

Q4-10 Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12 Q4-12 Q1-13

repatriation of fall/winter season receivables already in Q4/2012 (approx. EUR 30 million).

• Programs underway for stabilizing Working Capital volatility• Further Winter Sport

Equipment production lead time reduction

• #SKU control and elimination

Amer Sports Results Presentation

-100

-80

-60

-40• #SKU control and elimination of old SKUs

• Good receivables management

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Key figures

EUR million Q1/13 Q1/12 2012Net sales 493.0 489.8 2,064.0Gross profit 217.7 216.3 900.6Gross profit, % of net sales 44.2 44.2 43.6EBIT excluding non-recurring items 26.4 29.6 138.7EBIT % excluding non-recurring items 5.4 6.0 6.7Non-recurring items - - -24.8EBIT 26.4 29.6 113.9EBIT % 5.4 6.0 5.5

Amer Sports Results Presentation

Net cash flow after investing activities 67.9 97.4 71.8

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Balance sheet is healthy and continuously improving

EUR million March 31, 2013 March 31, 2012 Dec. 31, 2012

Net debt 398.4 409.5 434.3

Shareholders’ equity 717.4 701.5 731.8

Capital employed 1,115.8 1,111.0 1,166.1

Working capital 343.0 356.8 400.1

Gearing, % 56 58 59

Equity ratio, % 40.5 39.4 39.1

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• Cash EUR 136.1 million and unused committed facilities EUR 240 million

Refinancing needs well covered

150,0m

175,0m

facilities EUR 240 million (March 31, 2013)

• Commercial paper program EUR 500 million, of which EUR 71.1 million issued

• Scheduled long-term payments in 2013 EUR 25,0m

50,0m

75,0m

100,0m

125,0mDividendpaid April 4

Amer Sports Results Presentation

39.9 million and in 2014 EUR 62.7 million.

• Average interest rate of loan portfolio 4.1% (3.6)

,0m2013 2014 2015 2016

Pension Loan Bonds Bank loans Commercial Papers

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Winter and Outdoor Q1/2013 (Q1/2012)

250300350400450

Net sales

40

60

80

100

EBIT excludingnon-recurring itemsMEUR MEUR

181 7233.5 256.5 266.5

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Net sales +5%• Winter Sports Equipment at LY level. Normal Q1 re-orders.• Footwear at LY level. Stable pre-orders, business shifting towards re-orders.

Change in Korea Go to Market model.• Apparel +25%.

050

100150200250

-40

-20

0

20181.7 9.31.7164.4 -10.9

Q1/10 Q1/11 Q1/09 Q1/10Q1/09 Q1/11Q1/12 Q1/12

10.7

Q1/13

14.2

Q1/13

Amer Sports Results Presentation

• Cycling +1%. Sales of cycling helmets and footwear continued to grow.• Sports Instruments +4%, key initiatives hitting the market in Q2.

EBIT EUR 14.2 million (10.7)• Sales volumes up EUR 6 million• Gross margins up EUR 4 million• Operating expenses up EUR 6 million

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Ball Sports Q1/2013 (Q1/2012)

120

140

160

180

Net sales

20

25

EBIT exludingnon-recurring itemsMEUR MEUR

142.9 145.4

14.4

159.0

17.7

173.6

19.9164.0

17.4

Net sales -4%• Individual Ball Sports -1%. Sales of tennis racket was negatively influenced by

change in cadence of product launch from Q1 to Q4 to better meet market demands.

0

20

40

60

80

100

120

-5

0

5

10

15 11.5

Q1/09 Q1/10 Q1/09 Q1/10Q1/11 Q1/11Q1/12 Q1/12Q1/13 Q1/13

Amer Sports Results Presentation

g p• Team Sports -9%. As a result of the industry-wide baseball bat destocking, sales of

DeMarini baseball bats declined by 33%.• Restructuring in Brazil with move to a new Go to Market model

EBIT EUR 17.4 million (19.9)• Impacted by lower sales volumes • Operating expenses remained at last year’s level

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5

Fitness Q1/2013 (Q1/2012)

80

100

Net sales

4

6

8

10

EBIT excludingnon-recurring itemsMEUR

MEUR

3.356 6 59 7

3.962.5

Net sales +6%• International sales up high double-digits, Americas slightly down due to changes in

Go to Market model

0

20

40

60

-6

-4

-2

0

2

4

45.548.0 -0.7-3.4

Q1/09 Q1/10 Q1/09 Q1/10 Q1/11

56.6

Q1/11 Q1/12Q1/12

59.7

Q1/13

62.5

Q1/13

-0.4

Amer Sports Results Presentation

• The commercial business +5% and consumer business +10%• Healthy order book

EBIT EUR -0.4 million (3.9)• Decrease due to reporting and product mix changes, and sequencing of key promotion

events. Underlying profitability continuously improving.

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OUTLOOK

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• In 2013, Amer Sports’ net sales growth in local currencies is expected to meet at minimum the company’s long-term annual 5% growth target and EBIT margin excluding non recurring items

Outlook for 2013

5% growth target and EBIT margin excluding non-recurring items is expected to improve from 2012.

• Amer Sports expects the trading environment to remain challenging in 2013.

• The company will continue to focus on softgoods growth, consumer-driven product and marketing innovation, commercial expansion and operational excellence.

Amer Sports Results Presentation11

WE CONTINUE MOVING

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• We continue to make strong progress in our strategic growth areas

• Positive improvement continues across KPIs

We stay the course

• We stay focused:

- Broad-based improvement according to portfolio roles

- Driving further scale and synergies across the company

- Strong growth in Softgoods

- Solid innovation pipeline

- Strong progress in commercial excellence geographic expansion and

Amer Sports Results Presentation

Strong progress in commercial excellence, geographic expansion and B2C

- Broad-based operational improvement, special focus on Winter Sport Equipment

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APPENDIX

Net sales and EBIT breakdown (MEUR)

NET SALESQ1/

2013 2012Q4/

2012Q3/

2012Q2/

2012Q1/

2012 2011Q4/

2011Q3/

2011Q2/

2011Q1/

2011Winter andOutdoor 266.5 1,221.2 402.8 411.0 150.9 256.5 1,137.6 375.0 395.7 133.4 233.5

Ball Sports 164.0 569.7 127.7 121.9 146.5 173.6 511.0 109.0 106.7 136.3 159.0

Fitness 62.5 273.1 88.0 69.0 56.4 59.7 232.2 72.9 56.8 45.9 56.6

Total 493.0 2,064.0 618.5 601.9 353.8 489.8 1,880.8 556.9 559.2 315.6 449.1

EBITQ1/

2013 2012*Q4/

2012*Q3/

2012Q2/

2012Q1/

2012 2011Q4/

2011Q3/

2011Q2/

2011Q1/

2011Winter and Outdoor 14.2 113.8 41.7 86.8 -25.4 10.7 118.5 45.0 79.3 -15.1 9.3

Ball Sports 17.4 28.0 1.0 -2.6 9.7 19.9 25.0 -0.7 -1.1 9.1 17.7

Amer Sports Results Presentation

Fitness -0.4 17.0 7.9 4.2 1.0 3.9 10.3 4.5 2.8 -0.3 3.3

Headquarters -4.8 -20.1 -3.6 -7.1 -4.5 -4.9 -18.3 -2.5 -6.6 -4.6 -4.6Total 26.4 138.7 47.0 81.3 -19.2 29.6 135.5 46.3 74.4 -10.9 25.7

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* Excluding non-recurring items

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Business area net sales

MEURQ1/

2013Q1/

2012Ch%

Ch%* 2012

Wi t S t E i t 42 8 43 7 2 0 425 0Winter Sports Equipment 42.8 43.7 -2 0 425.0

Footwear 102.3 104.1 -2 0 314.4

Apparel 63.1 51.2 23 25 248.6

Cycling 36.6 36.3 1 1 129.0

Sports Instruments 21.7 21.2 2 4 104.2

Individual Ball Sports 95.5 97.6 -2 -1 318.8

Team Sports 68.5 76.0 -10 -9 250.9

Amer Sports Results Presentation

Fitness 62.5 59.7 5 6 273.1

Total 493.0 489.8 1 2 2,064.0

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* Change in local currencies

Net sales by region (MEUR)

MEURQ1/

2013 2012Q4/

2012Q3/

2012Q2/

2012Q1/

2012 2011Q4/

2011Q3/

2011Q2/

2011Q1/

2011EMEA 240.5 962.7 305.3 297.6 133.1 226.7 917.6 273.8 300.0 129.7 214.1

Americas 195.3 834.1 224.8 236.2 167.4 205.7 742.1 205.4 203.8 146.5 186.4

Asia Pacific 57.2 267.2 88.4 68.1 53.3 57.4 221.1 77.7 55.4 39.4 48.6

Total 493.0 2,064.0 618.5 601.9 353.8 489.8 1,880.8 556.9 559.2 315.6 449.1

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Sales development by region in Q1/2013EMEA Americas Asia Pacific TotalMEUR Ch, %* MEUR Ch, %* MEUR Ch, %* MEUR Ch, %*

Winter and Outdoor 182.1 6 54.0 2 30.4 2 266.5 5

20 %12 %

Winter and Outdoor Ball Sports Fitness Total

13 % 10 %

40 %

11 %

Ball Sports 42.0 1 101.2 -7 20.8 3 164.0 -4

Fitness 16.4 24 40.1 -3 6.0 41 62.5 6

Total 240.5 6 195.3 -4 57.2 6 493.0 2* In local currencies

Amer Sports Results Presentation

68 %

266.562 %

25 % 164.064 %

26 % 62.540 %

49 %

493.0

Americas EMEA Asia Pacific

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Balance sheet

MEURMarch 31,

2013March 31,

2012

Goodwill and other intangible non-current assets 504.9 500.8

Tangible non-current assets and other non-current assets 284.6 262.3

Inventories and work in progress 333.2 343.6

Receivables 513.6 481.4

Cash and cash equivalents 136.1 191.6

Shareholders’ equity 717.4 701.5

Interest bearing liabilities 534.5 601.1

Amer Sports Results Presentation

- Long-term 327.8 403.9

- Current 206.7 197.2

Other liabilities 520.5 477.1

Total 1,772.4 1,779.7

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• Heikki Takala, President and CEO, tel. +358 9 7257 8210

Contact information

• Jussi Siitonen, CFO, tel. +358 9 7257 8212

• Samppa Seppälä, Corporate Communications and IR,tel. +358 9 7257 8233

www.amersports.com

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www.amersports.compDisclaimerStatements in this presentation, which are not historical facts, such as expectations, anticipations, beliefs and estimates, areforward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties which may cause actual results to materially differ from those expressed in such forward-looking statements.Amer Sports assumes no responsibility to update any of the forward-looking statements contained herein. No representation or warranty, express or implied, is made or given by or on behalf of Amer Sports or its employees or any other person as to the accuracy, completeness or fairness of the information or opinions contained in this presentation.

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