The Outdoor segment of the Conzzeta Group, which basically consists of the Mammut Sports Group, suffered a drop of 26.2 percent in revenues on a currency-neutral basis in the first quarter. They were down by 28.2 percent on a reported basis to 50.8 million Swiss francs (€48.3m-$52.3m). The group noted that the decline in the division was mainly due to the closure of many retail stores because of the coronavirus pandemic, which meant the loss of its main sales channel. As previously reported, Mammut and other operations of the group are up for sale. At the end of February, Conzzeta sold its Schmid Rhyner business unit, which should result in a capital gain of CHF 45 million (€42.8m-$46.3m). The group pointed out that it has enough liquidity and a sufficiently high equity ratio to implement initiatives and respond quickly and flexibly to future development. More in the Outdoor Industry Compass.
