Slide 1: Q2 Interim Report 2010
Q2 INTERIM REPORT 2010 July 22, 2010
Slide 2: Group Strategy & Organization
GROUP STRATEGY & ORGANIZATION (2) Belarus
Slide 3: Summary of Q2 2010
SUMMARY OF Q2 2010 EUR million II/2010 II/2009 I-II/2010 I-II/2009 I-IV/2009 Net Sales 77.6 67.7 148.4 132.9 234.6 Operating Profit - Reported 12.5 9.4 24.2 19.5 22.1 Operating Profit - Comparable 12.6 10.2 24.4 20.4 23.5 Net Profit for the Period 8.4 7.4 17.5 13.6 14.3 EPS (basic), EUR 0.18 0.16 0.
Slide 4: Analysis of Net Sales
ANALYSIS OF NET SALES • Net sales for Q2 increased 15% and 12% for H1 reaching 77.6 MEUR & 148.4 MEUR. • With comparable exchange rates, net sales increased 5% for Q2 and 6% for H1. • Net sales of Group Fishing Products +13%, & 7%, Other Group Products -2% & 8% and 3rd Party Products +20% & 19%. • N
Slide 5: Analysis of Operating Profit
ANALYSIS OF OPERATING PROFIT • Comparable operating profit, excluding one-offs, was 12.6 MEUR (10.2) for Q2 and 24.4 MEUR (20.4) for H1. • Comparable operating margin increased to 16.2% (15.1) for Q2 and 16.4% (15.3) for H1. • Non-recurring items (0.1 & 0.2 MEUR) relate to ongoing restructuring init
Slide 6: Net Result and Cash Flow
NET RESULT AND CASH FLOW EUR million II/2010 II/2009 I-II/2010 I-II/2009 I-IV/2009 Net profit for the period 8.4 7.4 17.5 13.6 14.3 Adjustments (reversal of non-cash items) 5.8 4.9 9.4 10.1 14.7 Financial items and taxes paid/rec -2.7 -1.3 -6.0 -3.5 -7.4 Change in working capital 8.7 6.7 -12.8 -22.3
Slide 7: Strategy Implementation
STRATEGY IMPLEMENTATION • Implementation of the Group’s strategy for profitable growth continued in Q2. • High emphasis on positive development in cash flow, implementing performance improvement initiatives & developing new distribution units to support future growth • The results of the major worki
Slide 8: Short-Term Outlook
SHORT-TERM OUTLOOK • In general, the short-term outlook is cautiously optimistic. • In East Europe, the market has continued the strong growth that started in Q1 and also Nordic countries, West Europe and Asia have started to pick-up gradually. • North America development continues to be quite flat
Slide 9: Financial Trends in Rapala
FINANCIAL TRENDS IN RAPALA • Top line growth expected to continue after the fall-back (world recession in 2009). • Also positive development in profitability expected to continue after 2009. • Financial position getting even stronger allowing headroom for new acquisitions. 140 800 % 120 700 % 600 %
Slide 10: Shares and Shareholders
SHARES AND SHAREHOLDERS SHARE RELATED DATA (06/2010) Share price index performance in 2009 & H1 2010 • Market capitalization 220.1 MEUR • 12-month high/low 5.93/4.04 EUR • All-time high/low 8.40/2.50 EUR MAJOR SHAREHOLDERS • VMC Holdings 29 % Share price performance in Jan. 2005 – June 2010 • Sofina
Slide 11: End of Presentation
End of Presentation Tight Lines!