Slide 1: Rapala VMC Corporation Q1 2015
RAPALA VMC CORPORATION Q1 2015
Slide 2: Net sales, comparable operating profit, EPS, cash flow
• • • • • • • • • Net sales, MEUR Comparable Cash flow from operating profit, EPS, EUR operations, MEUR MEUR 75,2 66,2 73,9 8,1 10,7 0,15 0,11 0,10 6,7 -8,1 -8,0 -7,0 2013 2014 Q1/2015 2013 2014 Q1/2015 2013 2014 Q1/2015 2013 2014 Q1/2015 Q1 2015 2
Slide 3: Net sales
• • • • • • Net sales 90 80 70 60 MEUR 50 40 30 20 10 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2011 2012 2013 2014 2015 Q1 2015 3
Slide 4: Net sales by region
+24% 16,4 13,2 +2% +29% 25,1 -8% 24,4 19,4 26,6 -5% +13% 8,0 7,1 • • • • • • • • • • • • • • • • • • • Q1 2015 4
Slide 5: Net sales: group products and third party products
• • • • • • • • 90 80 70 60 MEUR 50 40 30 20 10 0 2011 2012 2013 2014 2015 2011 2012 2013 2014 2015 2011 2012 2013 2014 2015 2011 2012 2013 2014 2015 Q1 Q2 Q3 Q4 Group products Third party products Q1 2015 5
Slide 6: Operating profit
• • • • • • • 16 18% 14 16% 12 14% 12% 10 10% MEUR 8 8% 6 6% 4 4% 2 2% 0 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2011 2012 2013 2014 2015 Operating profit, MEUR Operating profit, % Q1 2015 6
Slide 7: Operating profit: group and third party products
• • • • • 16 14 12 10 8 MEUR 6 4 2 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 -2 2011 2012 2013 2014 2015 -4 Group products Third party products Q1 2015 7
Slide 8: Net profit
• • • • • • • • 10 0,25 8 0,20 6 0,15 Net profit 4 0,10 EPS 2 0,05 0 0,00 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 -2 -0,05 2011 2012 2013 2014 2015 -4 -0,10 Net profit attributable to equity holders of the company, MEUR Net profit attributable to non-controlling interests, MEUR E
Slide 9: Cash flow from operations
• • • • • • • Cash flow from operations, MEUR * 160 30 140 120 20 100 80 10 60 40 20 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 -10 2011 2012 2013 2014 2015 2011 2012 2013 2014 2015 -20 Total working capital, MEUR Inventories, MEUR Q1 20
Slide 10: Net interest-bearing debt, gearing and equity ratio
• • • • • Net interest-bearing debt, MEUR 90% 120 114,1 106,2 80% 76,2 % 100 70% 80 MEUR 60% 60 50% 40 42,5 % 40% 20 30% 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2011 2012 2013 2014 2015 2011 2012 2013 2014 2015 Gearing, % Equity ratio,
Slide 11: Cornerstones of the Profitable Growth Strategy
Cornerstones of the Profitable Growth Strategy 2015 2015 2015 Q1 2015
Slide 12: Short-term Outlook
Short-term Outlook « After the strong start, the outlook for the whole year is positive * Positive market sentiment in USA, early start of the summer season in many markets and successful new product introductions expected to support the sales this year. * Following two difficult winter seasons, the
Slide 13: End of Presentation
END OF PRESENTATION
Slide 14: Appendices
APPENDICES RAPALA VC CORP.
Slide 15: QRT Key figures
QRT Key figures MEUR Q1/2015 Q1/2014 Q1-Q4/2014 Net sales 73.9 66.2 273.2 Operating profit 9.1 7.4 22.9 Operating profit margin, % 12.3% 11.2% 8.4% Comparable operating profit 10.7 6.7 20.9 Comparable operating profit margin, % 14.4% 10.1% 7.6% Net profit for the period 4.3 4.3 10.2 EPS (basic), EUR
Slide 16: EPS
EPS EPS, EUR 0,20 0,15 0,10 EUR 0,05 0,00 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 -0,05 2011 2012 2013 2014 2015 -0,10 0,40 100 % 0,35 90 % 80 % 0,30 70 % 0,25 60 % EUR 0,20 50 % 0,15 40 % 30 % 0,10 20 % 0,05 10 % - 0% 2011 2012 2013 2014 EPS, EUR DPS, EUR Payout, % Q1 2015 16
Slide 17: Profit and loss account
Profit and loss account MEUR Q1 2015 Q1 2014 Q1-Q4 2014 Net sales 73.9 66.2 273.2 Other operating income 0.1 0.1 1.0 Materials and services 33.4 28.5 128.1 Personnel expenses 17.4 16.9 65.6 Other costs and expenses 12.5 11.8 50.8 Share of results in associates and joint ventures 0.1 0.0 0.2 EBITDA 1
Slide 18: Balance sheet
Balance sheet MEUR Q1 2015 Q1 2014 Q1-Q4 2014 ASSETS Non-current assets Intangible assets 79.1 70.1 74.4 Property, plant and equipment 32.7 31.0 32.0 Non-current assets Interest-bearing 4.6 3.0 3.0 Non-interest-bearing 13.0 10.1 11.5 129.4 114.3 120.8 Current assets Inventories 132.2 118.2 113.8 Cur
Slide 19: Shares and Shareholders
Shares and Shareholders SHARE RELATED DATA (3/2015) 196.0 MEUR 6.00/4.69 EUR 8.40/2.50 EUR * Market capitalization * 12-month high/low + All-time high/low MAJOR SHAREHOLDERS (3/2015) + VMC Holdings 34% * Sofina 19% * Nordea Funds 11% * Odin Funds 3% * State Pension fund 3% * Shimano 2% * Evli Funds
Slide 20: Financial Trends
Financial Trends — 45 35 20% 140 800% 078 Sales and scope _| |W Profitability Balance sheet positij a = 18% 40 _ 250 _ P atta 30 + 120 + 700% w yl 35 a 16% 226 a lf _ i 600% Jan 25 + y 100 7 200 a al 30 a 14% L Fi 4 \ ne 12% 500% 175 _ f 5 20+ ae = 80 150 " i ] \ M 10% 400% MEUR MEUR] MEURI 125 20 1