Head’s sales up 17.1 percent for Q1 2012

Head, the Amsterdam-based manufacturer and

marketer of sports equipment, announced the unaudited sales results for the first three months of 2012. The sales figure was up 17.1% compared to the same period of the prior year. At constant currency the sales for the first three months of 2012 were up 15.6% compared to the first three months of 2011. But the company assumes worldwide winter sports market sales will be down in 2012 due to mild winter.

Winter sports sales for the period were ahead of the comparable period in 2011. The period is key for the winter sports division in securing orders for the forthcoming 2012/13 winter season. Due to the very mild winter, and late snow in both Europe and North America in 2011/12, sell out at retail was considerably down and this is impacting the company’s pre-season orders for next year. Head believes the worldwide winter sports market will be substantially down in 2012 and this will significantly impact winter sports sales in the year.

The racquet sports division grew sales by 21.3% during the first three months of 2012 compared to the first three months of 2011. The warm weather that has impacted the winter sports market has had the opposite effect on the racquet sports market. It has started positively in North America and Japan.

While the diving market remained tough in Italy and Southern Europe, Asia and North America have developed favorably in 2012. This market growth and its strong product lines in computers and regulators has resulted in sales growth for the diving division of 12.3% during the three months to 31st March compared to the same period in 2011. Both the licensing and sportswear divisions increased in the period, but from a low base.

Head is organized into five divisions: winter sports, racquet sports, diving, sportswear and licensing. It sells products under the Head (alpine skis, skibindings, ski boots, snowboard and protection products, tennis, racquetball and squash racquets, tennis balls and tennis footwear and sportswear), Penn (tennisballs and racquetball balls), Tyrolia (ski bindings) and Mares (divingequipment)brands.