Fiskars Oyj Abp · OMXHEX:FSKRS
Fiskars Oyj Abp — Fiskars Group — Q2 2013 Earnings Presentation
22 slides from Fiskars Oyj Abp's earnings presentation, Aug 2, 2013
Slide 1: Fiskars Group Q2/2013
Fiskars Group Q2/2013 1.4. – 30.6.2013 Helsinki, August 2, 2013
Slide 2: Q2 2013: Strong result, regained sales momentum after soft start to the year
Q2 2013: Strong result, regained sales momentum after soft start to the year EBIT excl. NRI Best quarterly result Net sales in the company’s 217.6 MEUR,+8% 27.8 MEUR, +41% history Successful combination Regained sales momentum for core Outlook for 2013 of sales execution, garden categories, good unc
Slide 3: Q2 Highlights
Q2 Highlights Royal Copenhagen Japan store opening Iittala Japan store opening Slupsk factory expansion Page 3 Fiskars Q2 2013
Slide 4: Net Sales and EBIT in Q2 2013
Net Sales and EBIT in Q2 2013 Fiskars Group Net sales by quarter, MEUR EBIT by quarter, MEUR +8 % 225 217,6 14,0% 201,1 25 200 190,3 190,4 12,0% 175 168,0 20 10,0% 150 15 8,0% 0,8 27,8 125 100 10 19,7 6,0% 16,6 75 13,2 13,0 4,0% 5 50 2,0% 0 25 -2,1 -1,7 0 0,0% Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013
Slide 5: EMEA and Americas in Q2 2013
EMEA and Americas in Q2 2013 EMEA Net sales and EBIT % by quarter, MEUR 200 20,0% EMEA 160 132,9 134,7 149,6 16,0% 130,4 • Net sales 149.6 MEUR, +15 % 120 108,0 12,0% • Royal Copenhagen net sales 16,6 MEUR 80 8,0% • Comparable net sales, excl. Royal 40 4,0% Copenhagen, +2% 0 0,0% • EBIT excl. NRI +3
Slide 6: Q2 Spotlight: EMEA transformation programs
Q2 Spotlight: EMEA transformation programs Page 6 Fiskars Q2 2013
Slide 7: Building a platform for growth in EMEA with two programs
Building a platform for growth in EMEA with two programs Strategy 65 MEUR From 13 to 1 global growth 5 years ERP and way of and increased working in (2011-2015) efficiency EMEA 5 year investment program with A more updated scope efficient EMEA 2015 restructuring program Fiskars 25-30 9-11 MEUR MEUR
Slide 8: Implementation of common systems proceeds in EMEA
Implementation of common systems proceeds in EMEA ,% Total annual investments, MEUR 8 Fiskars Q2 2013
Slide 9: Q2 Business Review
Q2 Business Review Page 9 Fiskars Q2 2013
Slide 10: Operating environment in Q2
Operating environment in Q2 • The overall economic climate remained uncertain in Europe, and prospects for the euro area were weak • Consumer confidence did not improve significantly and retail sales trended down in many markets • Weather conditions improved around mid-April after a late start to th
Slide 11: Q2 Home
Q2 Home Page 11 Fiskars Q2 2013
Slide 12: Home in Q2 2013
Home in Q2 2013 • Net sales 95.4 MEUR, + 27% • comparable net sales (excl. Royal Copenhagen) + 4.8% • In EMEA, sales grew in key Nordic and Central European markets • Kitchen boosted by knife and licensed product sales • Living weighed by B-2-B sales in Finland • Royal Copenhagen performed well • In
Slide 13: Q2 Garden
Q2 Garden Page 13 Fiskars Q2 2013
Slide 14: Garden in Q2 2013
Garden in Q2 2013 • Net sales 87.3 MEUR, -1% • In EMEA, business recovered in core garden and yard care categories • Net sales grew slightly despite soft container gardening market • In America, sales were below 2012 due to decrease in container gardening sales • Core cutting tool and axe sales were
Slide 15: Q2 Outdoor
Q2 Outdoor Page 15 Fiskars Q2 2013
Slide 16: Outdoor in Q2 2013
Outdoor in Q2 2013 • Net sales 33.8 MEUR, -10% • In EMEA, Gerber sales reached 2012 levels and boat sales came close to 2012 despite contraction of boat markets • In America, Outdoor sales were clearly behind previous year • Continued slump in government spending affected institutional sales • De-st
Slide 17: Q1 Financials
Q1 Financials Page 17 Fiskars Q2 2013
Slide 18: Cash flow and debt Q2 2013, MEUR
Cash flow and debt Q2 2013, MEUR Cash flow from Working Capital Capital Net debt operating activities expenditure 45 140 14,0 250 123 40 39 118 120 12,0 11,7 206 109 201 35 200 10,1 10,3 100 96 10,0 30 9,0 80 150 25 24 8,0 7,3 71 20 19 100 60 6,0 100 15 15 72 40 4,0 51 10 50 20 2,0 5 2 0 0 0,0 0 Pag
Slide 19: Key ratios Q2 2013
Key ratios Q2 2013 EPS* Equity per Share Equity ratio, % Gearing, % 1,40 9,0 70 66 40 64 64 36 8,0 7,74 7,56 7,39 60 58 35 34 1,20 7,21 7,06 55 7,0 30 1,00 50 6,0 25 0,80 1,06 40 5,0 20 4,0 30 17 0,60 15 3,0 12 0,40 20 2,0 10 8 0,20 0,39 10 0,33 1,0 5 0,26 0,22 0,25 0,00 0,0 0 0 Gain of Wärtsilä sal
Slide 20: Outlook for 2013
Outlook for 2013 • No significant improvement in Fiskars’ general operating environment during the second quarter. • During the latter half of the year, previously announced changes in manufacturing and roll-outs of common systems and processes will temporarily impact operational efficiency negative
Slide 21: Fiskars share price development 2009 – Q2 2013
Fiskars share price development 2009 – Q2 2013 Valuation of Fiskars’ own operations and the share of Wärtsilä shares 14 Fiskars Stand alone / share Wärtsilä / Fiskars share OMXH25 12 Dividend 10 8 6 4 2 Dividend Dividend Dividend Dividend Dividend A: 0,50 € 0,52 € 1,90 € 0,62 € 0,65 € K: 0,48 € 0 Pa
Slide 22: Tomorrow's Fiskars: World Class Branded Consumer Goods
TOMORROW’S FISKARS World Class Branded Consumer Goods Company