Slide 1: Q2 Interim Report 2007
Q2 Interim Report 2007 July 26, 2007 Slide 1
Slide 2: Agenda
AGENDA • Business Organisation & Competition • Q2 and 6-month 2007 in Brief • Sales Analysis • Profitability and Analysis • Cashflow & Working Capital • Strategy Implementation • Outlook for 2007 Slide 2
Slide 3: Group Organizational Overview
Group Organizational Overview USA FINLAND ESTONIA CANADA SWEDEN POLAND REST OF EUROPE ITALY Distribution JAPAN DENMARK RUSSIA GERMANY REST OF WORLD BRAZIL NORWAY UKRAINE NETHERLANDS MALAYSIA FRANCE LITHUANIA BELGIUM AUSTRALIA SPAIN LATVIA CHINA SWITZERLAND CZECH REPUBLIC THAILAND PORTUGAL HUNGARY LO
Slide 4: Location of Business Operations – Latest Updates
Location of Business Operations – Latest Updates Latest additions (07): - Lure factory in Russia - Terminator lures in USA - LJS painting shop in US 2006 additions: - New sales co in S-Korea - T&P sales co in S-Africa - Shimano sales in S-EE - Tortue lines in France - Shimano 33,4% in S-EE - New sal
Slide 5: Competition and Major Players in the Industry
Competition and Major Players in the Industry Company Worldwide Major product categories Comments sales MUSD* Jarden 450 Rods, reels, combos, line, soft plastics Pure Fishing + Shakespeare ! US sales ca. 60% of sales Daiwa 450 Rods, reels, lures Japan ca. 80% of total sales Shimano 380 Rods, reels,
Slide 6: Q2 and 6-Month 2007 in Brief
Q2 AND 6-MONTH 2007 IN BRIEF EUR million II/07 II/06 I-II/07 I-II/06 2006 Sales 73.4 64.2 136.8 127.6 226.6 EBITDA 12.6 9.7 24.9 21.3 28.0 Operating Profit (EBIT) 11.0 8.1 23.0 18.1 21.7 Profit Before Taxes 9.8 6.1 20.8 13.9 14.6 Net Profit for the Period 6.7 4.5 14.4 10.1 11.0 EPS (basic), EUR 0.17
Slide 7: Sales Analysis
SALES ANALYSIS Q2 total sales were up 14% reaching a record 150 level at 73.4 MEUR (64.2). H1 sales were up 7% to 136.8 MEUR (127.6). 100 - With comparable fx-rates H1 sales were up 12%. - 1% came from Terminator, the rest was organic growth 50 All product lines and geographical areas increase
Slide 8: Profitability Analysis
PROFITABILITY ANALYSIS • Q2 operating profit up to 11.0 MEUR (8.1) as a result 25 of strong sales of Group branded fishing tackle and 20 negative goodwill of Terminator acquisition 15 • Q2 operating margin to 15.0% (12.6), H1: 16.8% • Q2 ROCE was up to 23.6% (18.0), H1 24.7% (20.1) 10 • Operating pr
Slide 9: Cashflow and Working Capital
CASHFLOW AND WORKING CAPITAL STATEMENT OF CASH FLOWS II II I-II I-II I-IV EUR million 2007 2006 2007 2006 2006 Net profit for the period 6.7 4.5 14.4 10.1 11.0 Adjustments 3.5 4.0 6.3 8.3 7.1 Change in working capital 3.4 1.1 -14.4 -18.5 -8.1 Net cash from operating activities 13.6 9.5 6.2 -0.1 10.0
Slide 10: Strategy Implementation in Q2 2007
STRATEGY IMPLEMENTATION IN Q2 2007 ¾ Rapala’s strategic objective is profitable growth. ¾ During the second quarter, management continued discussions and negotiations regarding acquisitions and business combinations to implement the Group’s strategy. ¾ In Q2, focus was on performance improvement ini
Slide 11: Outlook for 2007
OUTLOOK FOR 2007 – Market outlook for H2 looks quite stable. Fishing tackle sales in North America and Europe are developing well but Q3 is traditionally the slowest period in those areas. Australia and South Africa are heading for their spring season, which will boost their business for Q3 & Q4. Th
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