Fiskars Oyj Abp · OMXHEX:FSKRS
Fiskars Oyj Abp — Shareholder Meeting (March 2024)
28 slides from Fiskars Oyj Abp's shareholder meeting presentation, Mar 13, 2024
Slide 1: Annual General Meeting 2024
Annual General Meeting 2024 MA RCH 13, 2024
Slide 2: Review by the President and CEO
REV I EW BY TH E PRESI DENT A ND CEO A GM 202 4 Nathalie Ahlström REVIEW BY THE PRESIDENT AND CEO 2 MARCH 13, 2024 FISKARS GROUP
Slide 3: 375 years of pioneering design
REVIEW BY THE PRESIDENT AND CEO AGM 2024 375 years of Pioneering design to make the everyday extraordinary
Slide 4: 188)
188)
Slide 5: Year 2023
REV I EW BY TH E PRESI DENT A ND CEO A GM 202 4 Year 2023 STRATEGY AND FINANCIAL TARGETS ORGANIZATION AND MANAGEMENT OUTLOOK AND SUMMARY 5 MARCH 13, 2024 FISKARS GROUP
Slide 6: Year 2023 in brief
REVIEW BY THE PRESIDENT AND CEO AGM 2024 Year 2023 in brief ALL-TIME HIGH STRA TEGY IS CASH FLOW – DELIV ERING: SALES AND EBIT Commercial DECLINED IN A excellence CHALLENGING Direct-to-Consumer MARKET China EXPANDED O UR LUXURY PORTFOLIO WITH GEORG JENSEN, INTEGRATIO N PROCEEDING WELL
Slide 7: Fiskars Group key figures 2023
REVIEW BY THE PRESIDENT AND CEO AGM 2024 Fiskars Group key figures 2023 Net sales Comparable earnings EURm per share, EUR 1,129.8 0.99 Comparable EBIT Free cash flow EURm EURm 110.3 184.9 Comparable EBIT Personnel margin Dec 31, 2023 9.8% 7,162 7 MARCH 13, 2024 FISKARS GROUP
Slide 8: Comparable net sales decreased by 9.7% amidst a challenging operating environment
REVIEW BY THE PRESIDENT AND CEO AGM 2024 Comparable net sales decreased by 9.7% amidst a challenging operating environment NET SALES, EURm SALES SPLIT, % -9.5% 1,248.4 -9.7%* 1,192.2 BA Fiskars 51% 49% BA Vita 1,129.8 1,076.0 Asia-Pacific 19% 2022 Divestments FX 2022 Organic 2023 Acquisition 2023 49
Slide 9: Comparable EBIT declined due to lower volumes, gross margin continued to improve
REVIEW BY THE PRESIDENT AND CEO AGM 2024 Comparable EBIT declined due to lower volumes, gross margin continued to improve COMPARABLE EBIT, EURm GROSS MARGIN, % -40.7 151.0 -40.4 46,8 % 138.5 44.9 % 110.3 43.3 % 98.0 41,0 % 40.9 % 2022 Divest- FX 2022 Sales Gross Marketing SG&A Other 2023 Georg 2023
Slide 10: All-time high cash flow driven by systematic inventory management
REVIEW BY THE PRESIDENT AND CEO AGM 2024 All-time high cash flow driven by systematic inventory management FREE CASH FLOW, EURm FREE CASH FLOW 2019-2023, EURm +111,0 -50.8 174,6 184,9 -11.9 184,9 95,3 60,1 Ø 83 136,6 Cash flow Changes in Investments Taxes paid Free cash flow -100,7 from operating wo
Slide 11: Strong cash position supports the proposal of an increasing dividend
REVIEW BY THE PRESIDENT AND CEO AGM 2024 Strong cash position supports the proposal of an increasing dividend CHANGE IN CASH POSITION, EURm DIVIDEND PER SHARE 2019-2023, EUR +184,9 -14.8 0,80 0.82* -65.5 0,76 -121.1 0,60 0,56 +52,9 -30.8 +5,9 127,3 115,8 Cash Free Interests Dividends, M&A , Change i
Slide 12: Business Area Vita
REVIEW BY THE PRESIDENT AND CEO AGM 2024 Business Area Vita Net sales Comparable EBIT EURm EURm 555.3 62.3 -7.2%* -27.2% Tableware Drinkware Interior Jewellery * Comparable net sales exclude the impact of exchange rates, acquisitions and divestments Moomin Arabia Wedgwood entered #1 brand a new prod
Slide 13: Business Area Fiskars
REVIEW BY THE PRESIDENT AND CEO AGM 2024 Business Area Fiskars Net sales Comparable EBIT EURm EURm 570.5 73.8 -12.0%* -10.7% Scissors & Gardening Outdoor Cooking creating Gerber among Fiskars Group’s 5 biggest brands in Fiskars celebrates its 375th anniversary – * Comparable net sales exclude the im
Slide 14: Strategy and financial targets
REV I EW BY TH E PRESI DENT A ND CEO A GM 202 4 YEAR 2023 Strategy and financial targets ORGANIZATION AND MANAGEMENT OUTLOOK AND SUMMARY 14 MARCH 13, 2024 FISKARS GROUP
Slide 15: Our Growth Strategy – we have sharpened the logic
REVIEW BY THE PRESIDENT AND CEO AGM 2024 Our Growth Strategy – we have sharpened the logic Sharpened WE FOCUS ON WINNING: LOGIC logic with active portfolio Brands Channels Countries management Commercial excellence Direct-to-Consumer TRANSFORMATION Transformation LEVERS levers that deliver U.S. Chin
Slide 16: Clear roles for each brand
REVIEW BY THE PRESIDENT AND CEO AGM 2024 Clear roles for each brand Maximise Accelerate potential Increase focus on brands which can: Winning • Move the needle – make the big Three large brands bigger and more powerful luxury brands • Surround the consumer through Utilize category expansion tactical
Slide 17: Georg Jensen acquisition – example of a strong portfolio fit
REVIEW BY THE PRESIDENT AND CEO AGM 2024 Georg Jensen acquisition – example of a strong portfolio fit • Georg Jensen is a renowned Danish luxury lifestyle brand offering Home and Jewelry products • Strong portfolio fit: big brand, high-end positioning with a combination of luxury & lifestyle, high s
Slide 18: Progress in strategy execution: 3/4 of transformation levers developed positively in 2023
REVIEW BY THE PRESIDENT AND CEO AGM 2024 Progress in strategy execution: 3/4 of transformation levers developed positively in 2023 Commercial excellence Gross margin improved by +190 bps to 46.8% Direct-to- consumer Comparable DTC growth of +4%; DTC is now 25% of net sales U.S. Net sales growth of -
Slide 19: Financial targets tracking
REVIEW BY THE PRESIDENT AND CEO AGM 2024 Financial targets tracking Focus on cash flow has delivered, challenging operating environment reflected in progress in sales and EBIT LAST KPI TARGET 2020 2021 2022 2023 3 YEARS NET Organic, FX neutral CAGR SALES Mid-Single-Digit growth z +3.4% +14.2% +1.7%
Slide 20: Continued good progress in the execution of our ESG strategy
REVIEW BY THE PRESIDENT AND CEO AGM 2024 Continued good progress in the execution of our ESG strategy ENVIRONMENTAL SOCIAL 2023 Target 2023 Target 2023 2023 2023 2023 4.2 0 70 80 14% -56% -46% * 45% Base year 2021 50% Base year 2017 -60% Base year 2018 -30% Target set 2020 60% in 2030 in 2030 in 203
Slide 21: Fiskars Group is setting a long-term net-zero target
REVIEW BY THE PRESIDENT AND CEO AGM 2024 Fiskars Group is setting a long-term net-zero target I Our plan is to reduce climate emissions to net zero by 2049, which also marks the Group’s 400th anniversary year.
Slide 22: Organization and management
REV I EW BY TH E PRESI DENT A ND CEO A GM 202 4 YEAR 2023 STRATEGY AND FINANCIAL TARGETS Organization and management OUTLOOK AND SUMMARY 22 MARCH 13, 2024 FISKARS GROUP
Slide 23: Accelerating strategy execution through simplified set-up and end-to-end accountability
REVIEW BY THE PRESIDENT AND CEO AGM 2024 Accelerating strategy execution through simplified set-up and end-to-end accountability 2021: TODAY: RECENT CHANGES: BAs as product owner, part of BAs as business owner, Group-wide matrix organization P&L accountable • Terra and Crea combined BA BA BA into on
Slide 24: Leadership Team
REVIEW BY THE PRESIDENT AND CEO AGM 2024 Leadership Team Nathalie Ahlström Jussi Siitonen Dr. Steffen Hahn Christian Bachler CEO CFO Executive Vice President, Executive Vice President, Employed 2020 Employed 2021 Business Area Fiskars, Business Area Vita, Employed 2024 Employed 2010 Peter Cabello Ho
Slide 25: Outlook and summary
REV I EW BY TH E PRESI DENT A ND CEO A GM 202 4 YEAR 2023 STRATEGY AND FINANCIAL TARGETS ORGANIZATION AND MANAGEMENT Outlook and summary 25 MARCH 13, 2024 FISKARS GROUP
Slide 26: Guidance for 2024
REVIEW BY THE PRESIDENT AND CEO AGM 2024 Guidance for 2024 Assumptions behind the guidance - The operating + Savings from the environment is expected completed Fiskars Corporation expects to remain challenging and impact demand, organizational changes are expected to comparable EBIT to be slightly e
Slide 27: Summary
Summary REVIEW REVIEW REVIEW REVIEW BY BY THE BYBY THE THE PRESIDENT THE PRESIDENT PRESIDENT AND PRESIDENT CEO AND AND AND CEOCEO CEO AGM 2024 Summary Summary • All-time high cash flow in 2023 – sales and EBIT declined in a challenging market environment Uusi kuva • Bold strategic actions and organi
Slide 28: Quality
QUALITY ) J