Rapala Vmc Oyj · OMXHEX:RAP1V
Rapala Vmc Oyj — FY2023 Earnings Presentation
12 slides from Rapala Vmc Oyj's earnings presentation, March 2024
Slide 1: Premium Performance 110% Authentic
: as PREMIUM PERFORMANt oF me . 110% AUTHENTIC
Slide 2: Strong cash flow but sales and profitability down in a tough market
Strong cash flow but sales and profitability down from last year in a tough market environment Net sales (MEUR) 31d party products [lJ Group products 2020 FY 2021 FY 2022 FY 2023 FY = FX comparable change: -17% (-45.5 MEUR) = Group Products sales decreased 7% from 2022 using comparable FX rates, cov
Slide 3: Short term outlook
Short term outlook – The Group expects 2024 full year comparable operating profit (excluding mark- to-market valuations of operative currency derivatives and other items affecting comparability) to increase from 2023. – Trading outlook for 2024 is improving as evidenced by better operational perform
Slide 4: Key Figures
KEY FIGURES MEUR 2023 FY 2022 FY Net sales 221,6 274,4 Operating profit 4,0 12,3 Operating profit, % of net sales 1,8 % 4,5 % Comparable operating profit 5,6 15,3 Comparable operating profit, % of net sales 2,5 % 5,6 % Net profit for the period -6,9 3,7 EPS (basic), EUR -0,19 0,10 Cash flow from ope
Slide 5: Operating environment remained tough due to global slowdown and inflation
Operating environment remained tough due to the global economic slowdown and high inflation 2022 FY 1322 7.188) 2023 FY 110.6 <—\(21.6) North America = FX comparable change: -14% (-17.9 MEUR) = Majority of the decline relates to sales of Third Party Products following a strategic decision to outsour
Slide 6: Focus on cash generation and driving down inventory levels
Relentless focus on cash generation and driving down inventory levels resulted in a positive outcome Inventory (MEUR) Cash flow from operations (MEUR) -12% 99.9 86.2 87.5 +33.5 24.4 20.6 2021 FY 2022 FY 2023 FY -12.9 2021 FY 2022 FY 2023 FY End of December 2023 inventory was 87.5 MEUR – The change
Slide 7: Gearing ratio decreased and equity-to-assets ratio increased
Gearing ratio decreased and equity-to-assets ratio increased from last year following the issuance of a 30 MEUR hybrid capital bond Gearing (%) Equity ratio (%) Net interest-bearing debt (MEUR) ed 411% L : 2021 FY 2022 FY 2023 FY 2021 FY 2022 FY 2023 FY * Liquidity position of the Group was good = N
Slide 8: Appendix
Slide 9: Geographical Net Sales
GEOGRAPHICAL NET SALES North America (MEUR) Nordic (MEUR) 134.8 132.2 110.6 104.2 95.4 55.1 56.6 45.5 38.9 27.8 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY Rest of Europe (MEUR) Rest of the World (MEUR) 78.4 81.3 80.6 70.6 57.1 33.6 33.3 33.4 32.7 26.1 2019 FY 202
Slide 10: Profit and Loss Statement
PROFIT AND LOSS STATEMENT MEUR 2023 FY 2022 FY Net sales 221,6 274,4 Other operating income 1,0 0,4 Materials and services 96,0 125,2 Personnel expenses 61,7 71,5 Other costs and expenses 48,0 52,3 Share of results in associates and joint ventures -1,3 -2,3 EBITDA 15,6 23,6 Depreciation, amortizatio
Slide 11: Balance Sheet
BALANCE SHEET MEUR [023 FV 2022 FY ASSETS Non-current assets Intangible assets 101,7 84,7 Property, plant and equipment 25,8 28,6 Right-of-use asset 13,5 160 Non-current assets Interest-bearing 07 18 Non-interest-bearing 13,2 131 154,9 1543 Current assets Inventories 87,5 999 Current assets Interest
Slide 12: Shares and Shareholders
SHARES AND SHAREHOLDERS Share Price Index Performance 110 100 90 80 70 60 50 40 + : : : 1 12/22 03/23 06/23 09/23 12/23 ——OMX Nordic Mid Cap — Rapala VMC Corp Share Price Development, 2018-2022 400 5 r 12,0 + 10,0 ame + 8.0 200 + + 6,0 + 4,0 100 + L 90 0 0,0 12/18 12/19 12/20 12/21 12/22 12/23 ——Rap