Fiskars Oyj Abp · OMXHEX:FSKRS
Fiskars Oyj Abp — Fiskars Group — Q3 2012 Earnings Presentation
28 slides from Fiskars Oyj Abp's earnings presentation, Nov 1, 2012
Slide 1: Fiskars Group Q3/2012
Fiskars Group Q3/2012 1.1. - 30.9.2012 Helsinki, November 1, 2012
Slide 2: Agenda
Agenda Highlights Business Review Spotlight: New Sales Organization Financials Appendixes Page 2 Fiskars Q3 2012
Slide 3: Q3: Good performance, driven by the Americas
Q3: Good performance, driven by the Americas EBIT 14.0 MEUR, + 106 % Americas Net sales Sales + 17% 168.0 MEUR, + 2 % EBIT excl. NRI EBIT excl. NRI + 45 % 13.2 MEUR, +1 % Five-year investment Garden and SOC Operational efficiency program in EMEA performed well in the improved in EMEA progresses acco
Slide 4: Q3 Business review
O3 Business review FISKARS
Slide 5: Operating environment in Q3
Operating environment in Q3 • Market conditions remained challenging in Europe, especially in Southern Europe • Stream of worrying financial news impacted consumer behavior and shopping was still value-driven • Trade remained cautious, keeping tight control on inventory levels • In the Americas, con
Slide 6: HOME
HOME Home sales driven by good momentum Modern Scandinavian design products for the kitchen, table, living in SOC room and school, office and craft Q3/2012 • Net sales for Home products at 2011 levels 80.5 MEUR net sales +4% • Export sales continued to develop well • Successful product launches boos
Slide 7: GARDEN
GARDEN Strong Garden sales in the Americas Ergonomically designed tools for Q3/2012 gardening and construction • In the Americas, Garden business performed strongly 56.5 MEUR net sales, -3 % • Positive development across main accounts • Growth driven by strong axe sales • Successful marketing progra
Slide 8: OUTDOOR
OUTDOOR Gerber sales boosted by international Innovative, essential products for an active lifestyle and durable leisure expansion boats Q3/2012 • European distribution for Gerber progressing 30.1 MEUR net sales, +5% • In Europe, growth in Gerber sales offset tough market conditions in boat business
Slide 9: Q3 Spotlight: New sales organization
Q3 Spotlight: New sales organization Page 9 Fiskars Q3 2012
Slide 10: Two Sales Regions in EMEA
Two Sales Regions in EMEA SALES REGION NORTH President Jakob Hägerström SALES REGION CENTRAL President Axel Goss Page 10
Slide 11: Fiskars products are sold in multiple channels
Fiskars products are sold in multiple channels Focused strategy and execution across channels 3rd Party Sales Direct Consumer Sales Wholesale B2B e-commerce Stores & DIY Sales Promotion Outlets Web store, direct Flagship Stores Garden Centers Business Gifts Hardware Stores Shop in Shops HoReCa Outle
Slide 12: The two regions differ from each other
The two regions differ from each other SALES REGION SALES REGION CENTRAL NORTH • Focused investments for growth in • Strong position across categories • St • selected key markets • High market shares in Home business • Well-established presence in Garden • Broad Nordic customer base categories • Str
Slide 13: Financials
03 Financials FISKARS
Slide 14: Net Sales in Q3 2012 by Segment
Net Sales in Q3 2012 by Segment Net sales, MEUR Net sales, MEUR Net sales, MEUR + 2% 250 250 250 -5 % 200 200 200 168,0 +17 % 150 150 150 108,0 100 100 60,7 100 50 50 50 0 0 0 Q311 Q411 Q112 Q212 Q312 Q311 Q411 Q112 Q212 Q312 Q311 Q411 Q112 Q212 Q312 Cn - 7 % Cn + 3 % Cn - 4 % EMEA Americas Fiskars
Slide 15: Net Sales in Q3 2012 by Business Area
Net Sales in Q3 2012 by Business Area +4% Net sales, MEUR Net sales, MEUR Net sales, MEUR 100 100 100 80,5 -3 % 80 80 80 +5 % 56,5 60 60 60 40 40 40 30,1 20 20 20 0 0 0 Q311 Q411 Q112 Q212 Q312 Q311 Q411 Q112 Q212 Q312 Q311 Q411 Q112 Q212 Q312 Cn - 0 % Cn -8 % Cn - 5 % Home Garden Outdoor Page 15 Fi
Slide 16: Net Sales and EBIT in Q3 2012
Net Sales and EBIT in Q3 2012 Fiskars Group Net sales by quarter, MEUR EBIT by quarter, MEUR 225 25 201,1 +2 % 200 187,3 188,3 20 175 165,3 168,0 15 +0,8 150 10 19,7 125 17,1 13,1 13,7 13,2 5 100 0 75 -3,0 -6,3 50 -5 25 -10 0 -15 Q311 Q411 Q112 Q212 Q312 Q311 Q411 Q112 Q212 Q312 Cn - 4 % EBIT % 7,9
Slide 17: Net Sales and EBIT in Q3 2012: EMEA segment
Net Sales and EBIT in Q3 2012 EMEA segment Net sales by quarter, MEUR 131,6 • Net sales -5% at EUR 108.0 million 140 113,7 130,6 130,4 120 108,0 (113.7), as Garden sales did not reach 100 previous year’s levels 80 • Operational efficiency in EMEA 60 40 continued to improve 20 • EBIT excl. NRI EUR 8.
Slide 18: Net Sales and EBIT in Q3 2012: Americas segment
Net Sales and EBIT in Q3 2012 Americas segment Net sales by quarter, MEUR • Net sales +17% to EUR 60.7 million 80 72,3 70 60,7 (52.0), boosted by the strengthening of 60 52,0 56,9 58,9 the US dollar and good development in 50 40 Garden and SOC 30 • Using comparable currency rates, 20 10 sales increa
Slide 19: Cash flow and debt Q3 2012, MEUR
Cash flow and debt Q3 2012, MEUR CF from operating Working Capital Capital Net debt activities expenditure 45 160 12,0 42 250 40 140 10,0 9,6 9,0 200 194 35 186 120 112 109 109 30 8,0 7,3 100 96 151 25 150 25 24 83 80 6,0 20 19 4,7 100 4,5 100 60 15 14 4,0 40 51 10 50 2,0 5 20 0 0 0,0 0 Page 19 Fisk
Slide 20: Key ratios Q3 2012
Key ratios Q3 2012 EPS Equity per Share Equity ratio, % Gearing, % 1,40 8,0 7,74 80 80 7,21 7,0 6,81 70 70 1,20 64 6,37 6,38 64 59 6,0 60 57 60 1,00 55 5,0 50 50 0,80 1,06 4,0 40 40 36 37 0,60 3,0 30 30 27 0,40 2,0 20 20 17 0,20 1,0 10 8 0,33 10 0,24 0,26 0,22 0,17 0,00 0,0 0 0 Gain of Wärtsilä sale
Slide 21: Fiskars share price development 2009 – Q3 2012
Fiskars share price development 2009 – Q3 2012 Valuation of Fiskars’ own operations and the share of Wärtsilä shares EUR 14,00 Fiskars stand alone / share Wärtsilä / Fiskars share OMXH25 12,00 10,00 8,00 6,00 4,00 2,00 Dividend Dividend Dividend Dividend A: 0,50 € 0,52 € 1,90 € 0,62 € K: 0,48 € 0,00
Slide 22: Outlook for 2012 unchanged
Outlook for 2012 unchanged • Fiskars’ operating environment remained uncertain during the third quarter, and further instability could affect consumer and trade behavior adversely • Changes in demand, for Home products in particular, during the last quarter could affect the full-year results • In th
Slide 23: Appendixes
Qs Appendixes FISKARS
Slide 24: Key figures Q3 2012
Key figures Q3 2012 EUR million Q3 2012 Q3 2011 Change Q1-Q3 2012 Q1-Q3 2011 Change 2011 Net sales 168.0 165.3 2% 557.5 555.2 0% 742.5 Operating profit (EBIT)* 14.0 6.8 106% 50.8 42.1 21% 52.8 Operating profit excluding non- 13.2 13.1 1% 50.0 48.4 3% 62.1 recurring items Share of profit from associa
Slide 25: Fiskars IR Calendar and Contact Information
Fiskars IR Calendar and Contact Information • Q1 Interim Report May 3, 2012 • Fiskars Corporation • Q2 Interim Report August 2, 2012 Hämeentie 135 A • Q3 Interim Report November 1, 2012 P.O. Box 130 FI-00561 Helsinki, Finland Tel. +358 204 3910 • EGM September 12, 2012 Fax +358 9 604 053 communicati
Slide 26: 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 27: 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 28: Lasting everyday design, since 1649
Lasting everyday design, since 1649