Fiskars Oyj Abp · OMXHEX:FSKRS
Fiskars Oyj Abp — Fiskars Group — Q3 2011 Earnings Presentation
29 slides from Fiskars Oyj Abp's earnings presentation, Oct 27, 2011
Slide 1: Fiskars Group Q3/2011
Fiskars Group Q3/2011 1.1.-30.9.2011 Helsinki, October 27, 2011
Slide 2: Agenda
Agenda • Highlights • Business review • Financial position • Outlook for 2011 • Appendixes Page 2 Fiskars Q3 2011
Slide 3: Q3 Highlights
Q3 Highlights Page 3 Fiskars Q3 2011
Slide 4: Net sales and operating profit up
Net sales and operating profit up Fiskars business so Sales growth in both far resilient to segments, led by Comparable net sales economic downturn Garden in EMEA and +9 %* thanks to strong Outdoor in Americas brands and products Net sales EBIT w/o non-recurring Outlook for full year 165.3 MEUR abov
Slide 5: Q3 Business Review
Q3 Business Review Page 5 Fiskars Q3 2011
Slide 6: Operating environment in Q3
Operating environment in Q3 Uncertainty increased • Economic environment remained uncertain and predicting the business environment challenging • In Europe, consumer confidence has declined steeply in Fiskars’ main markets and consumer demand seemed to slow in the Nordic countries • The retail envir
Slide 7: Flat performance in home products
Flat performance in home products HOME Modern Scandinavian design Q3/2011 products for the kitchen, table, living room and school, office and craft • Home product sales flat 77.3 MEUR net sales -2% • Main markets at or below 2010 levels • SOC sales in the Americas above 2010 levels 47 % of total sal
Slide 8: Good quarter for the Garden business
Good quarter for the Garden business GARDEN Q3/2011 Ergonomically designed tools for gardening and construction • Good performance in EMEA 58.4 MEUR net sales, • Increased distribution and sales of snow tools +17 % strengthened Fiskars’ position in several key markets • Also other categories perform
Slide 9: Strong performance in Outdoor business
Strong performance in Outdoor business OUTDOOR Innovative, essential products for an Q3/2011 active lifestyle and durable leisure boats • In EMEA, Silva business divested in July – focus now on increasing Gerber’s international distribution 28.6 MEUR net sales, -3% • Growth in boat business continue
Slide 10: Q3 Spotlight: Brand building results
Q3 Spotlight: Brand building results Page 10 Fiskars Q3 2011
Slide 11: Fiskars on TV, 2011 season
Fiskars on TV, 2011 season Page 11 Fiskars Q3 2011
Slide 12: Strengthened position in Garden hand tools
Strengthened position in Garden hand tools In the UK, Fiskars brand was launched in 2009 and has been established as a key brand in the No 1 market. No 1 No 1 No 1 No 1 No 1 No 1 No 1 No 1 No 2 (3) No 1 No 1 No 1 (2) Fiskars market position in Garden hand tools, source: GFK and management estimates
Slide 13: Q3 Financials
Q3 Financials Page 13 Fiskars Q3 2011
Slide 14: Net Sales Q3 2011 by Segment
Net Sales Q3 2011 by Segment Net sales, MEUR Net sales, MEUR Net sales, MEUR +4% 250 +1% 250 250 200 200 200 165,3 +6 % 150 113,7 150 150 100 100 100 52,0 50 50 50 0 0 0 Q310 Q410 Q111 Q211 Q311 Q310 Q410 Q111 Q211 Q311 Q310 Q410 Q111 Q211 Q311 Cn + 1% Cn + 15% Cn + 6% EMEA Americas Fiskars Total 69
Slide 15: Net Sales Q3 2011 by Business Area
Net Sales Q3 2011 by Business Area -2 % Net sales, MEUR Net sales, MEUR Net sales, MEUR +17% 100 100 100 77,3 80 80 80 58,4 -3% 60 60 60 40 40 40 28,6 20 20 20 0 0 0 Q310 Q410 Q111 Q211 Q311 Q310 Q410 Q111 Q211 Q311 Q310 Q410 Q111 Q211 Q311 Cn -1% Cn +20% Cn + 2% Home Garden Outdoor Page 15 Fiskars
Slide 16: Net Sales and EBIT in Q3 2011
Net Sales and EBIT in Q3 2011 Fiskars Group Net sales by quarter, MEUR EBIT by quarter, MEUR 225 + 4% 25 200,6 200 190,6 189,3 20 175 159,5 165,3 15 150 10 19,0 125 16,4 12,9 12,6 13,1 5 100 0 75 -6,3 50 -5 -11,3 25 -10 0 -15 Q310 Q410 Q111 Q211 Q311 Q310 Q410 Q111 Q211 Q311 EBIT % 8,1 % 6,6 % 8,6 %
Slide 17: Net Sales and EBIT in Q3 2011: EMEA segment
Net Sales and EBIT in Q3 2011 EMEA segment Net sales by quarter, MEUR 160 • Net sales 113.7 MEUR (112.2); +1% 140 143,4 134,0 137,5 or +1 % at comparable currency 120 112,2 113,7 100 rates 80 • EBIT excl. non-recurring items 60 9.9 MEUR (9.3); +7% 40 20 0 Q310 Q410 Q111 Q211 Q311 • Sales growth driv
Slide 18: Net Sales and EBIT in Q3 2011: Americas segment
Net Sales and EBIT in Q3 2011 Americas segment Net sales by quarter, MEUR 70 65,4 • Net sales 52.0 MEUR (49.2); +6% or 60 58,1 50,4 52,0 +15 % at comparable currency rates 50 49,2 • EBIT excl. non-recurring items 40 30 5.5 MEUR (5.4); +2% 20 10 • Good sales development across all 0 Q310 Q410 Q111 Q2
Slide 19: Cash flow and debt Q3 2011, MEUR
Cash flow and debt Q3 2011, MEUR CF from operating Working Capital Capital Net debt activities expenditure 40 160 8,0 7,4 230 222 222 35 140 7,0 130 220 218 32 123 30 115 30 120 112 6,0 5,2 210 25 101 5,1 25 100 5,0 4,5 200 200 20 18 80 4,0 3,7 190 186 15 60 3,0 180 10 8 40 2,0 170 5 20 1,0 0 0 0,0
Slide 20: Key ratios in Q3 2011
Key ratios in Q3 2011 EPS* Equity per Share Equity ratio, % Gearing, % 1,20 8,0 80 80 7,0 6,8 70 70 6,6 1,00 6,4 6,2 5,9 6,0 60 55 57 57 60 53 0,80 51 5,0 50 50 46 0,85 43 41 0,60 4,0 40 40 36 36 3,0 30 30 0,40 0,35 0,29 0,30 2,0 20 20 0,17 0,20 1,0 10 10 0,27 0,00 0,0 0 0 Gain of Wärtsilä sales Exc
Slide 21: Q3 Outlook for 2011
Q3 Outlook for 2011 Page 21 Fiskars Q3 2011
Slide 22: Outlook for 2011 unchanged
Outlook for 2011 unchanged • Full-year net sales and operating profit excluding non-recurring items are expected to increase compared to 2010 • In the beginning of the year, Fiskars expected the general market situation to remain positive in 2011. Since then, uneasiness about the economic outlook ha
Slide 23: Q3 2011 In a nutshell
Q3 2011 In a nutshell Page 23 Fiskars Q3 2011
Slide 24: Key figures Q3 2011
Key figures Q3 2011 EUR million Q3 2011 Q3 2010 Change Q1-Q3 Q1-Q3 Change 2011 2010 Net sales 165.3 159.5 4% 555.2 525.3 6% Operating profit (EBIT)* 6.8 12.9 -47% 42.1 47.7 -12% Operating profit excluding non- 13.1 12.9 2% 48.4 47.7 1% recurring items Share of profit from associated 7.5 17.3 -56% 29
Slide 25: Q3 Appendixes
Q3 Appendixes Page 25 Fiskars Q3 2011
Slide 26: Fiskars IR Calendar and Contact Information
Fiskars IR Calendar and Contact Information • Q1 Interim Report May 5, 2011 • Fiskars Corporation • Q2 Interim Report August 5, 2011 Hämeentie 135 A • Q3 Interim Report October 27, 2011 P.O. Box 130 FI-00561 Helsinki, Finland Tel +358 204 3910 Fax +358 9 604 053 [email protected] firstname.lastname@fi
Slide 27: Analyst coverage
Analyst coverage • To the best of our knowledge, the following persons follow the Fiskars share. They do so on their own initiative, and Fiskars takes no responsibility for the opinions expressed. • Carnegie Investment Bank Tommy Ilmoni, +358 9 618 71 235 [email protected] • Evli Bank Mika Ka
Slide 28: Disclaimer
Disclaimer The content of this presentation contains time-sensitive information that is accurate as of the time hereof. A number of forward-looking statements will be made during this presentation. Forward-looking statements are any statements that are not historical facts. These statements are base
Slide 29: Lasting everyday design, since 1649
Lasting everyday design, since 1649 Page 29 Fiskars Q3 2011