Fiskars Oyj Abp · OMXHEX:FSKRS
Fiskars Oyj Abp — FY2010 Earnings Presentation
30 slides from Fiskars Oyj Abp's earnings presentation, Feb 9, 2011
Slide 1: Fiskars Group 2010
Fiskars Group 2010 A year of solid performance and profit increase February 9, 2011 Page 1 Feb 9, 2010 Fiskars Q4 2010
Slide 2: Agenda
Agenda • Fiskars today • Key events in 2010 • Financial performance in 2010 • Outlook for 2011 Page 2 Feb 9, 2010 Fiskars Q4 2010
Slide 3: Fiskars today
Fiskars today International consumer goods company that offers innovative products for the home, garden, and outdoors Page 3 Feb 9, 2010 Fiskars Q4 2010
Slide 4: Our vision
Our vision To become the number-one specialist company for the home, garden, and outdoors – through premium brands that lead the field in functionality, innovation, and design Page 4 Feb 9, 2010 Fiskars Q4 2010
Slide 5: Fiskars in brief
Fiskars in brief • Net sales €716 million in 2010 • Some 3,900 employees in more than 20 countries • Products sold in over 60 countries EMEA (Europe, Asia, Australia) 70% of total sales AMERICAS 30% of total sales Page 5 Feb 9, 2010 Fiskars Q4 2010
Slide 6: Strong business areas
Strong business areas HOME GARDEN OUTDOOR €309 million in 2010 €275 million in 2010 €128 million in 2010 43% of total sales 38% of total sales 18% of total sales Page 6 Feb 9, 2010 Fiskars Q4 2010
Slide 7: Respected brands
Respected brands Page 7 Feb 9, 2010 Fiskars Q4 2010
Slide 8: New Fiskars
Transformation towards an integrated branded consumer products company –2007 2008–2009 2010–2012 Holding Integrated New company company Implementation structure strategy Fiskars • Conglomerate of • New group • Refined, focused business • Focused independent structure & area and brand strategies • Ef
Slide 9: Fiskars' formula for success
Fiskars’ formula for success FOCUS • Strong business area focus • Specialty premium brand portfolio • Optimized product range in selected categories EFFICIENCY GROWTH • Simplified structure • Consumer-focused • Integrated business product development processes to achieve • Innovative R&D scale and s
Slide 10: Key events in 2010
Key events in 2010 Continued growth in net sales and operating profit Page 10 Feb 9, 2010 Fiskars Q4 2010
Slide 11: Highlights in Q4 2010
Highlights in Q4 2010 • Strong overall performance in the quarter • All business areas improved in EMEA • Profit improvement in Americas • Exceptionally strong quarter for Garden • Another record quarter in snow tool sales • Sales of stick tools and wood preparation tools up • Fiskars launched a sig
Slide 12: Highlights in 2010
Highlights in 2010 • Solid development and best operating profit excluding non-recurring items in Fiskars’ history • In EMEA, clear improvement in operating environment • Trade and consumer demand developed positively All Fiskars’ businesses grew and improved their operating profit • In the America
Slide 13: Business area Home in 2010
Business area Home in 2010 • Products for the home and kitchen; also scissors and craft products • Net sales €95.6 million in Q4 2010 (Q4 2009: €92.9 million), +3% • Net sales €309.4 million in 2010 ( 2009: €297.3 million), +4% • Sales of home products rose • Finland and Norway developed particularl
Slide 14: Business area Garden in 2010
Business area Garden in 2010 • Garden and construction tools • Net sales €56.8 million in Q4 2010 (Q4 2009: €40.0 million), +42% • Net sales € 274.5 million in 2010 (2009: €230.9 million) +19% • Exceptionally strong year for Garden business, particularly in EMEA • Record high sales of snow tools and
Slide 15: Business area Outdoor in 2010
Business area Outdoor in 2010 • Outdoor equipment and boats • Net sales €37.2 million in Q4 2010 (Q4 2009: €38.7 million), -4% • Net sales €128.3 million in 2010 (2009: 128.4), 0% • Boat and outdoor equipment sales (Silva and Gerber) grew in Europe • Sales in the US down due to the Brunton divestmen
Slide 16: Investment program in EMEA
Investment program in EMEA • Fiskars’ strategy is to achieve faster growth and increased efficiency • In December 2010, Fiskars launched a significant investment program in EMEA to facilitate further growth • Appr. EUR 50 million investment over the next five years • Funded by operative cash flow •
Slide 17: Continuous flow of new products
Continuous flow of new products Page 17 Feb 9, 2010 Fiskars Q4 2010
Slide 18: Financials in Q4 2010
Financials in Q4 2010 Growth continued in the quarter Page 18 Feb 9, 2010 Fiskars Q4 2010
Slide 19: Net sales in Q4 2010
Net sales in Q4 2010 • Total net sales €190.6 million (Q4 2009: €172.6 million) • Growth 10% or 5% at comparable currency rates Other Others 1.6 MEUR, +3% 1.0 MEUR Outdoor Home 37.2 MEUR Americas 95.6 MEUR -4% 50.4 MEUR +3% +1%, cn-7% Sales by Sales by Operating Business Segment* Area EMEA 143.4 MEU
Slide 20: Group Net Sales and EBIT in Q4 2010
Group Net Sales and EBIT in Q4 2010 • Net sales €190.6 million (172.6); +10% or +5% at comparable currency rates Net sales by quarter, MEUR EBIT by quarter, MEUR EBIT % 5.5 % 7.4 % 11.3 % 8.1 % 6.6 % EBIT excluding non-recurring items Non-recurring items Page 20 Feb 9, 2010 Fiskars Q4 2010
Slide 21: EMEA Net Sales and EBIT in Q4 2010
EMEA Net Sales and EBIT in Q4 2010 • Net sales €143.4 million (125.4); +14% or +11% at comparable currency rates Net sales by quarter, MEUR EBIT by quarter, MEUR EBIT % 8.5 % 7.7 % 11.6 % 8.3 % 7.7% EBIT excluding non-recurring items Non-recurring items Page 21 Feb 9, 2010 Fiskars Q4 2010
Slide 22: Americas Net Sales and EBIT in Q4 2010
Americas Net Sales and EBIT in Q4 2010 • Net sales €50.4 million (49.9); +1% or -7% in USD Net sales by quarter, MEUR EBIT by quarter, MEUR EBIT % 4.5 % 11.8 % 15.9 % 10.9 % 10.5 % EBIT excluding non-recurring items Non-recurring items Page 22 Feb 9, 2010 Fiskars Q4 2010
Slide 23: Group key ratios in FY 2010
Group key ratios in FY 2010 23 Fiskars Q4 2010 Feb 9, 2010
Slide 24: Net interest bearing debt Q4 2010, MEUR
Net interest bearing debt Q4 2010, MEUR CF from operating activities*, MEUR Net debt, MEUR * excluding dividends from Wärtsilä Page 24 Feb 9, 2010 Fiskars Q4 2010
Slide 25: FY2010 Group financial performance
FY2010 Group financial performance • Net sales 715.9 MEUR (660.3); + 8% or 4 % at comparable currency rates • Operating profit excluding non-recurring items 60.4 MEUR (40.0) • Operating profit 49.1 MEUR (39.5) Net sales, MEUR EBIT excl. non-recurring items, MEUR 800 697,0 715,9 700 660,3 600 500 400
Slide 26: FY2010 EMEA and Americas segments
FY2010 EMEA and Americas segments • EMEA Net sales 502 MEUR (452); + 11% or 8 % at comparable currency rates • Americas Net sales 223 MEUR (218); + 2% or -3 % at comparable currency rates Net sales, MEUR EBIT excl. non-recurring items, MEUR Americas Americas Page 26 Feb 9, 2010 EMEA Fiskars Q4 2010
Slide 27: FY2010 financial performance per share
FY2010 financial performance per share • Earnings per share €1.15 (1.05) • Board’s dividend proposal €0.60 per share Earnings per share, EUR Dividend per share, EUR Page 27 Feb 9, 2010 Fiskars Q4 2010
Slide 28: Fiskars share price development 2009-2010
Fiskars share price development 2009-2010 Valuation of Fiskars’ own operations and the share of Wärtsilä shares 14,00 12,00 10,00 8,00 6,00 4,00 2,00 Fiskars stand alone / share Wärtsilä / Fiskars share 0,00 1.2009 3.2009 5.2009 7.2009 9.2009 11.2009 1.2010 3.2010 5.2010 7.2010 9.2010 11.2010 Page 2
Slide 29: Outlook for 2011
Outlook for 2011 • General market situation is expected to remain positive in 2011. We expect the trade to continue focusing on their working capital and retailer purchasing to remain cautious. • Fiskars will carry on investing in brand building and new product development • Implementation of the si
Slide 30: Lasting everyday design, since 1649
Lasting everyday design, since 1649 Page 30 Feb 9, 2010 Fiskars Q4 2010