Slide 1: Rapala VMC 1st Half 2025
RaPald T* HALF 2025
Slide 2: Sales and profitability improved
SALES AND PROFITABILITY IMPROVED Net sales (MEUR) Comparable operating profit (MEUR) Inventory value (MEUR) +5.0 (+4%) -2.5 (-3%) RAPALA VMC +2.4 (+39%) 148,4 15,5 117,7 120,5 125,5 117,9 98,5 84,7 82,2 8,6 6,2 5,3 2022 H1 2023 H1 2024 H1 2025 H1 2022 H1 2023 H1 2024 H1 2025 H1 2022 H1 2023 H1 2024
Slide 3: Short term outlook
SHORT TERM OUTLOOK ▪ The Group expects 2025 full year comparable operating profit (excluding mark-to-market valuations of operative currency derivatives and other items affecting comparability) to increase from 2024. ▪ North American consumer demand has remained robust despite rising uncertainties i
Slide 4: Key figures
KEY FIGURES MEUR 2025 H1 2024 H1 Net sales 125.5 120.5 Operating profit 9.1 11.2 Operating profit, % of net sales 7.3% 9.3% Comparable operating profit 8.6 6.2 RAPALA VMC Comparable operating profit, % of net sales 6.9% 5.1% Net profit for the period 2.2 4.7 EPS (basic), EUR 0.02 0.07 Cash flow from
Slide 5: Operating environment varied significantly across regions
Operating environment varied significantly across regions 2024 H1 13,5 -4% (-0.6) 2025 H1 12,9 2024 H1 61,4 2024 H1 33,5 +12% -6% (+7.6) (-1.9) 2025 H1 69,0 2025 H1 31,6 RAPALA VMC 2024 H1 12,1 0% (0.0) 2025 H1 12,1 North America Nordic Rest of the Europe Rest of the World ▪ FX comparable change: +1
Slide 6: Cashflow remains the number one priority
Cashflow remains the number one priority Inventory (MEUR) Cash flow from operations (MEUR) -12.0 (-66%) RAPALA VMC -2.5 (-3%) 98,5 18,6 18,2 84,7 82,2 6,2 2023 H1 2024 H1 2025 H1 2023 H1 2024 H1 2025 H1 End of June 2025 inventory was 82.2 MEUR Cash flow from operations was 6.2 MEUR ▪ The change in o
Slide 7: Gearing ratio increased and equity-to-assets ratio decreased from last year
Gearing ratio increased and equity-to-assets ratio decreased from last year Gearing (%) Equity ratio (%) Net interest-bearing debt (MEUR) +2.3 pp. -0.3 pp. -1.3 RAPALA VMC 73,4 % 52,6 % 52,3 % 98,0 41,7 % 39,2 % 59,9 58,6 36,9 % 2023 H1 2024 H1 2025 H1 2023 H1 2024 H1 2025 H1 2023 H1 2024 H1 2025 H1
Slide 8: Appendix
Slide 9: Geographical net sales
GEOGRAPHICAL NET SALES North America (MEUR) Nordic (MEUR) 69,9 69,2 69,0 58,3 61,4 RAPALA VMC 25,3 20,1 13,4 13,5 12,9 2021 H1 2022 H1 2023 H1 2024 H1 2025 H1 2021 H1 2022 H1 2023 H1 2024 H1 2025 H1 Rest of Europe (MEUR) Rest of the World (MEUR) 46,8 42,6 32,8 33,5 31,6 17,6 16,5 13,4 12,1 12,1 2021
Slide 10: Profit and loss statement
PROFIT AND LOSS STATEMENT MEUR 2025 H1 2024 H1 Net sales 125.5 120.5 Other operating income 0.1 0.2 Materials and services -55.2 -52.2 Personnel expenses -32.1 -33.8 RAPALA VMC Other costs and expenses -23.7 -24.2 Gain of sales of assets 0.5 6.3 Share of results in associates and joint ventures 0.0
Slide 11: Balance sheet
BALANCE SHEET MEUR 2025 H1 2024 H1 MEUR 2025 H1 2024 H1 ASSETS Equity Non-current assets Equity attributable to the equity holders of 119.5 132.3 the company Intangible assets 96.6 103.3 Hybrid bond 30.0 30.0 Property plant and equipment 21.0 24.9 149.5 162.3 Right-of-use assets 11.3 12.9 Non-curren
Slide 12: Shares and shareholders
SHARES AND SHAREHOLDERS Share Price Index Performance SHARE RELATED DATA (6/2025) 140 130 Market capitalization 47.8 MEUR 120 110 12-month high / low 2.90 / 1.20 EUR 100 90 All-time high / low 10.95 / 1.20 EUR 80 RAPALA VMC 70 60 50 MAJOR SHAREHOLDERS* (6/2025) % OF TOTAL 40 06/24 09/24 12/24 03/25
Slide 13: Rapala
RaPala