Fiskars Oyj Abp · OMXHEX:FSKRS
Fiskars Oyj Abp — Fiskars Group — Q2 2011 Earnings Presentation
30 slides from Fiskars Oyj Abp's earnings presentation, Aug 5, 2011
Slide 1: Fiskars Group Q2/2011
Fiskars Group Q2/2011 1.1.–30.6.2011 Helsinki, August 5, 2011
Slide 2: Agenda
Agenda • Highlights • Business review • Financial position • Outlook for 2011 • Appendixes Page 2 August 5, 2011 Fiskars Q2 2011
Slide 3: Q2 Highlights
O2 Highlights iy FISKARS
Slide 4: Good performance in mixed markets
Good performance in mixed markets Overall a good Consumer demand Excellent quarter, many developed unevenly development in businesses and uncertainty Outdoor Americas performed above increased market Sales impacted by Outlook for 2011 Net sales weaker US dollar, unchanged: 200.6 MEUR Profit by tempo
Slide 5: Business Review
ey Business Review FISKARS
Slide 6: Operating environment in Q2
Operating environment in Q2 Uncertainty increased • Consumer confidence weakened in Europe • Uneven development from country to country, between segments and month to month • In the Americas, the recovery in retail trade was yet again delayed • Institutional spending remained curbed due to federal f
Slide 7: Good performance in home products
Good performance in home products HOME Modern Scandinavian design Q2/2011 products for the kitchen, table, rest of the home and school, office and craft • Home product sales higher than in 2010 • Growth driven by Finland and export markets 73.5 MEUR net sales +2% (Q2 2010: 72.1) • SOC sales in the A
Slide 8: Mixed quarter for the Garden business
Mixed quarter for the Garden business GARDEN Q2/2011 Ergonomically designed tools for the garden and construction • Good performance in EMEA • Driven by stick tools and wood preparation 83.6 MEUR net sales, -5% (Q2 2010: 87.8) • Unusual weather resulted in exceptionally short selling season in the A
Slide 9: Strong performance in Outdoor business
Strong performance in Outdoor business OUTDOOR Q2/2011 Innovative, essential products for an active lifestyle and • Successful outdoor product launches boosted whole durable leisure boats category in the Americas • Record quarter for Gerber 42.6 MEUR • Institutional spending still curbed by federal
Slide 10: Q2 spotlight: Focus on international brands
Q2 spotlight: Focus on international brands
Slide 11: Growth of key international brands continues in 2011
Growth of key international brands continues in 2011 100 % 90 % 22 % 19 % 28 % 28 % 32 % 80 % % of total sales 14 % 70 % 13 % 14 % 13 % 60 % 14 % 50 % 40 % 64 % 67 % 30 % 58 % 59 % 53 % 20 % 10 % 0% 2007 2008 2009 2010 H1 2011 Key International Leading Regional Local Page 11 August 5, 2011 Fiskars Q
Slide 12: Continued focus on brand portfolio
Continued focus on brand portfolio Page 12 August 5, 2011 Fiskars Q2 2011
Slide 13: Financial position
Q2 Financial position Page 13 August 5, 2011 Fiskars Q2 2011
Slide 14: Net Sales Q2 2011 by Segment
Net Sales Q2 2011 by Segment + 2% Net sales, MEUR Net sales, MEUR Net sales, MEUR 250 +8% 250 250 200,6 200 200 200 137,5 -8 % 150 150 150 100 100 65,4 100 50 50 50 0 0 0 Q210 Q310 Q410 Q111 Q211 Q210 Q310 Q410 Q111 Q211 Q210 Q310 Q410 Q111 Q211 Cn + 8% Cn + 3% Cn + 6% EMEA Americas Fiskars Total 68
Slide 15: Net Sales Q2 2011 by Business Area
Net Sales Q2 2011 by Business Area -5% Net sales, MEUR +2 % Net sales, MEUR Net sales, MEUR 100 100 100 83.6 +20% 80 73.5 80 80 60 60 60 42.6 40 40 40 20 20 20 0 0 0 Q210 Q310 Q410 Q111 Q211 Q210 Q310 Q410 Q111 Q211 Q210 Q310 Q410 Q111 Q211 Cn +5% Cn -2% Cn + 28% Home Garden Outdoor Page 15 August 5
Slide 16: Net Sales and EBIT in Q2 2011
Net Sales and EBIT in Q2 2011 Fiskars Group Net sales by quarter, MEUR EBIT by quarter, MEUR + 2% 225 25 195,9 200,6 200 190,6 189,3 20 175 159,5 15 150 22,2 10 19,0 125 16,4 12,9 12,6 5 100 0 75 50 -5 -11,3 25 -10 0 -15 Q210 Q310 Q410 Q111 Q211 Q210 Q310 Q410 Q111 Q211 EBIT % 11.3 % 8.1 % 6.6 % 8.6
Slide 17: Net Sales and EBIT in Q2 2011: EMEA segment
Net Sales and EBIT in Q2 2011 EMEA segment Net sales by quarter, MEUR 160 • Net sales 137.5 MEUR (127.1); +8% 140 127,1 143,4 134,0 137,5 or +8 at comparable currency rates 120 112,2 100 • EBIT excl. non-recurring items 9.3 80 MEUR (14.8); -37% 60 40 20 • Sales growth driven by good 0 Q210 Q310 Q410
Slide 18: Net Sales and EBIT in Q2 2011: Americas segment
Net Sales and EBIT in Q2 2011 Americas segment Net sales by quarter, MEUR 80 • Net sales 65.4 MEUR (71.0); -8% or 70 71,0 65,4 58,1 +3 at comparable currency rates 60 49,2 50,4 50 • EBIT excl. non-recurring items 11.7 40 MEUR (11.3); +4% 30 20 10 • Reported net sales decreased due to 0 Q210 Q310 Q41
Slide 19: Cash flow and debt Q2 2011, MEUR
Cash flow and debt Q2 2011, MEUR CF from operating Working Capital Capital Net debt activities expenditure 40 160 8,0 7,4 235 231 140 7,0 230 35 130 31 32 121 123 225 222 30 222 30 120 115 6,0 220 218 101 5,2 5,1 100 5,0 4,8 215 25 210 20 18 80 4,0 3,7 205 200 15 60 3,0 200 195 10 8 40 2,0 190 5 20
Slide 20: Key ratios in Q2 2011
Key ratios in Q2 2011 EPS* Equity per Share Equity ratio, % Gearing, % 1,20 8,0 80 80 7,0 6,8 70 70 6,4 6,6 1,00 6,2 5,9 6,0 60 55 57 60 53 53 0,80 51 5,0 50 50 46 0,85 44 43 41 0,60 4,0 40 40 36 3,0 30 30 0,40 0,35 0,35 0,29 0,30 2,0 20 20 0,20 0,27 1,0 10 10 0,00 0,0 0 0 Gain of Wärtsilä sales Exc
Slide 21: Fiskars share price development Jan 2010 – July 2011
Fiskars share price development Jan 2010 – July 2011 Valuation of Fiskars’ own operations and the share of Wärtsilä shares EUR 14,00 12,00 10,00 8,00 6,00 4,00 2,00 Fiskars stand alone / share Wärtsilä / Fiskars share 0,00 1.2010 3.2010 5.2010 7.2010 9.2010 11.2010 1.2011 3.2011 5.2011 7.2011 Page 2
Slide 22: Outlook for 2011
Q2 Outlook for 2011 Page 22 August 5, 2011 Fiskars Q2 2011
Slide 23: 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 24: Q2 2011 In a nutshell
Q2 2011 In a nutshell
Slide 25: Key figures Q2 2011
Key figures Q2 2011 EUR million Q2 2011 Q2 2010 Change 2010 Net sales 200.6 195.9 2% 715.9 Operating profit (EBIT) 19.0 22.2 -15% 49.1 Share of profit from associated company 10.6 13.2 -20% 65.9 Change in the fair value of standing timber -0.2 -0.6 -2.2 Profit before taxes* 28.6 34.0 -16% 106.7 Prof
Slide 26: Appendixes
O2 Appendixes Co _ i «a >. == =— = | > FISKARS
Slide 27: 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 28: 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 29: 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 30: Lasting everyday design, since 1649
Lasting everyday design, since 1649