Conzzeta Group, the Swiss holding company that controls the Mammut Sports Group, reports that the outdoor company's operating result and operational cash flow will be adversely affected in the coming years by the costs of a five-year strategic program, after a drop in sales and operating result last year. Conzzeta said that its sporting goods segment saw its sales decline by 5.8 percent to 235.3 million Swiss francs (€216.0m-$241.7m) for the year. Growing sales in North America and China partly compensated for a sales decline in Europe, but comparable sales were still down by 1.7 percent. The operating result reached just CHF 0.1 million (€0.09m-$0.10m), down from CHF 20.8 million (€19.1m-$21.4m), with strong impact from currency exchange rate changes. As previously reported, the Swiss outdoor group responded with measures such as the divestment of its rope-making business, which will become effective around the middle of this year, and the concentration and regionalization of the sales organization. The ensuing restructuring costs amounted to CHF 2.4 million (€2.2m-$2.5m). More in The Compass.

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