Slide 1: Georg Jensen acquisition: Expanding our portfolio of luxury brands
Image TBD (RC & Georg Jensen together) Georg Jensen acquisition: Expanding our portfolio of luxury brands NATHALIE AHLSTRÖM, PRESIDENT AND CEO SEPTEMBER 1 4, 2023 JUSSI SIITONEN, CFO
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements, including, without limitation, statements regarding Fiskars’ strategy, business plans and focus. The words “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” believe,” “estimate,” “predict,” “project,
Slide 3: Fiskars Group acquires Georg Jensen
Fiskars Group acquires Georg Jensen TRANSACTION OVERVIEW • Enterprise value of EUR 151.5 million* • 9.5x EV/EBITDA** (LTM) on a stand-alone basis • 4.7x EV/EBITDA (LTM) with cost synergies, net of integration costs • Financed fully with debt • Closing expected to be in the beginning of Q4, subject t
Slide 4: Georg Jensen is a renowned Danish lifestyle brand
Georg Jensen is a renowned Danish lifestyle brand KEY FIGURES* REVENUE SPLIT BY REGIONS, DIVISIONS AND CHANNELS • Established in Copenhagen in 1904 by silversmith Georg Revenue 6% Jensen 158 MEUR Europe • Offers iconic and contemporary products in Gross margin 41% APAC North 52% 50% Home Jewellery 5
Slide 5: The acquisition has a compelling strategic and financial rationale
The acquisition has a compelling strategic and financial rationale Suppor ts our Expands our Repres ents an Creates Growth Strategy luxury brand excelle nt significant cost portfolio and cultural fit - synergies Commercial strength e ns our shared focus on leading to excellence offering design and a
Slide 6: Supports our Growth Strategy and its transformation levers
Supports our Growth Strategy and its transformation levers Strong brand, opportunities to elevate it further Commercial excellence opportunities through our platform and Vita brand portfolio Strong position in DTC, both online and offline Potential to expand Georg Jensen’s presence in China 6 SEPTEM
Slide 7: Extends our luxury brand portfolio with an iconic brand
Extends our luxury brand portfolio with an iconic brand FISKARS GROUP POST-TRANSACTION (ILLUSTRATIVE) >1/3 ILLUSTRATIVE BUSINESS AREA SPLIT ILLUSTRATIVE CHANNEL MIX of net sales from DTC 24% luxury brands 17% Another >100 MEUR 7% ~50% ~50% brand 8% in net sales 68% ~1/4 of net sales from Business Ar
Slide 8: Represents an excellent cultural fit
Represents an excellent cultural fit ICONIC BRAND FOCUS ON CRAFTMANSHIP AND PIONEERING DESIGN STRONG DANISH HERITAGE, CLOSELY CONNECTED TO ROYAL COPENHAGEN’S LIFESTYLE 8 SEPTEMBER 14, 2023 Ⓒ FISKARS GROUP
Slide 9: Creates significant cost synergies leading to attractive valuation
Creates significant cost synergies leading to attractive valuation Expected total annual cost synergies MEUR ~18 Expected transaction costs MEUR ~5 Synergies identified e.g. related to support functions and sourcing To be recorded in Q4/2023 and reported Majority expected to be realized by the end o
Slide 10: Financing and Financial impacts of the transaction
Financing and Financial impacts of the transaction Deal financing Impact on guidance for 2023 • Transaction financed fully with debt: Agreement on a committed • Fiskars Group’s current guidance for 2023 does not take bridge loan facility – take-out financing will be arranged into account the impact
Slide 11: The acquisition has a compelling strategic and financial rationale
The acquisition has a compelling strategic and financial rationale Suppor ts our Expands our Repres ents an Creates Growth Strategy luxury brand excelle nt significant cost portfolio and cultural fit - synergies Commercial strength e ns our shared focus on leading to excellence offering design and a
Slide 12: Fiskars Group's Capital Markets Day 2023
Fiskars Group’s Capital Markets Day 2023 Date: November 2, 2023 in the afternoon Place: At Fiskars Group’s headquarters in Espoo + the event will also be webcasted An invitation with the full program and registration details will be published closer to the event date . 12 SEPTEMBER 14, 2023 Ⓒ FISKAR
Slide 13: Thank you! Questions?
Thank you! Questions? 13 SEPTEMBER 14, 2023 Ⓒ FISKARS GROUP
Slide 14: Appendix
FISKARS ss. GROUP 0 Appendix
Slide 15: Transaction summary
Transaction summary • Enterprise value EUR 151.5 million Purchase price • 9.5x EV/EBITDA on a stand-alone basis • 4.7x EV/EBITDA including with cost synergies, net of integration costs • Financed fully with debt Financing • Committed bridge financing facility • Planning to convert the bridge financi
Slide 16: Georg Jensen's key figures
Georg Jensen’s key figures AS PUBLISHED IN GEORG JENSEN’S CONSOLIDATED FINANCIAL STATEMENTS AND INTERIM FINANCIAL REPORTS, IN ACCORDANCE WITH IFRS LTM (June 2023) 1-6/2023 2022 2021 Revenue, EUR million 153.5 59.3 158.1 149.3 Gross profit, EUR million 94.1 36.0 97.8 92.8 Gross margin 61% 61% 62% 62%