RAPALA VMC CORPORATION'S FULL YEAR SALES AND OPERATING PROFIT BELOW EARLIER EXPECTATIONS
ET | Source:Rapala VMC
Rapala VMC Corporation
Stock Exchange Release
July 11, 2014 at 5:00 p.m.
RAPALA VMC CORPORATION'S FULL YEAR SALES AND OPERATING PROFIT BELOW EARLIER
Rapala VMC Corporation ("the Group") has updated its full year outlook for
2014. Full year net sales and comparable operating profit (excluding non-
recurring items and mark-to-market valuations of operative currency derivatives)
are now expected to be below 2013 levels, while previously they were expected to
be at 2013 levels assuming comparable translation exchange rates.
The Group's sales in second quarter developed positively in several European
countries and pre-sales of ice fishing products for the coming winter season has
been good. However this is not sufficient to offset the negative impacts of
finalizing the transfer of production from China to Batam, lower sales in USA
and Finland and negative development of currency exchange rates, which together
with other uncertainties is impacting the business negatively especially in
Russia and Ukraine.
Second quarter interim report will be published on July 21.
RAPALA VMC CORPORATION
Chief Executive Officer
For further information, please contact:
Jussi Ristimäki, Chief Financial Officer, tel. +358 9 7562 540
Distribution: NASDAQ OMX Helsinki and Main Media
Rapala VMC Corporation ("the Group") is a leading fishing tackle company and the
global market leader in fishing lures, treble hooks and fishing related knives
and tools. The Group also has a strong global position in other fishing
categories and it is one of the leading distributors of outdoor, hunting and
winter sport products in the Nordic countries. The Group has the largest
distribution network in the industry. The main manufacturing facilities are
located in Finland, France, Estonia, Russia, China, Indonesia and the UK. The
Group brand portfolio includes the leading brand in the industry, Rapala, and
other global brands like VMC, Sufix, Storm, Blue Fox, Luhr Jensen, Williamson,
Dynamite Baits, Mora Ice, StrikeMaster, Marttiini and Peltonen. The Group, with
net sales of EUR 287 million in 2013, employs some 2 500 people in 39 countries.
Rapala VMC Corporation's share is listed and traded on the NASDAQ OMX Helsinki
stock exchange since 1998.
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