Slide 1: Q3 Interim Report 2009
Q3 Interim Report 2009 Major cash flow improvement as a result of strong execution of working capital management October 23, 2009 Slide 1
Slide 2: Slide 2
Slide 2
Slide 3: Q3 in Brief
Q3 in Brief EUR million III/09 III/08 I-III/09 I-III/08 2008 Net sales 50.2 52.7 183.1 192.1 243.0 EBITDA 3.3 5.2 26.4 32.7 37.5 EBITDA ,excl. one-offs 3.4 5.2 26.7 32.0 36.7 Operating profit 1.9 3.6 21.4 28.1 31.3 Operating profit, excl. one-offs 2.0 3.6 22.4 27.4 30.5 EPS (basic), EUR 0.02 0.03 0.
Slide 4: Group Organization & Cornerstones of Strategy
Group Organization & Cornerstones of Strategy Slide 4
Slide 5: Competition & Major Players in the Industry
Competition & Major Players in the Industry - No major changes in the competitive environment in Q3 2009. Company Worldwide Major product categories Comments sales MUSD* Daiwa 630 Rods, reels, lures & sporting goods Japan 79% of total sales Shimano 570 Rods, reels, accessories, excl. bike Japan ca.
Slide 6: Net Sales Analysis
Net Sales Analysis • Net sales for Q3 down on last year at 50.2 MEUR (52.7). • YTD net sales at 183.1 (192.1). • FX effect: -2.4 MEUR on Q3 and –3.6 on YTD. • Low sales and NOK&SEK movements affected net sales negatively in Nordic countries. • Increased business activity and strengthening of USD inc
Slide 7: Operating Profit Analysis
Operating Profit Analysis Q3 comparable operating profit, excluding one-offs, was 2.0 MEUR (3.6) and comparable operating margin 4.0% (6.8) YTD comparable operating profit 22.4 MEUR (27.4) and comparable margin 12.2% (14.3). Q3 included 0.1 MEUR (0.0) one-off costs and YTD 1.0 MEUR (gain 0.7)
Slide 8: Cash Flow and Working Capital
Cash Flow and Working Capital EUR million III/2009 III/2008 I-III/2009 I-III/2008 I-IV/2008 Net profit for the period 1.5 2.0 15.1 18.2 19.2 Adjustments 1.7 1.5 11.8 10.2 13.0 Financial items and taxes paid/rec -2.3 -3.0 -5.8 -9.3 -14.0 Change in working capital 19.7 13.5 -2.6 -15.2 -12.7 Net cash f
Slide 9: Strategy Implementation
Strategy Implementation ¾ Rapala continued to implement its strategy for profitable growth in Q3 Growth ¾ Discussions on acquisitions & business combinations continued. ¾ New distribution company in Romania registered in October, fully operational by the end of the year. ¾ Process to establish a dis
Slide 10: Outlook for 2009
Outlook for 2009 • General market situation has not changed a lot during 2009, but new positive signs have recently been witnessed in several countries. • In addition to increased business activity, American Sportfishing Association just announced that the sales of US fishing licenses were up 8% for
Slide 11: Share Price Performance & Shareholders
Share Price Performance & Shareholders Share Related Data (9/2009) Share price performance in 1/2008 – 9/2009 ¾ Market Cap 180,8 MEUR ¾ 12-month high 5.16 EUR ¾ 12-month low 2.95 EUR ¾ All-time high 8.40 (2/99) ¾ All-time low 2.50 (11/01) Major Shareholders ¾ VMC 28 % Share price performance 1/2004
Slide 12: READY!
READY! Slide 12