News Column


July 11, 2014

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 EXPECTATIONS 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 Jorma Kasslin 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. Stock Exchange Release: This announcement is distributed by GlobeNewswire on behalf of GlobeNewswire clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Rapala VMC Oyj via GlobeNewswire [HUG#1822531]

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Thomson Reuters ONE

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters