Slide 1: Rapala VMC Corporation Full Year 2020
RAPALA VMC CORPORATION FULL YEAR 2020 1
Slide 2: Comparable operating profit grew; significant reduction in inventories
COMPARABLE OPERATING PROFIT GREW FROM LAST YEAR; SUCCESFULL AND FORCEFUL ACTIONS LED TO SIGNIFICANT REDUCTION IN INVENTORIES NET SALES COMPARABLE OPERATING PROFIT INVENTORY VALUE (MEUR) (MEUR) (MEUR) GROUP PRODUCTS 3RD PARTY +3.7 MEUR -5.1% -23.8 MEUR 21.5 99.1 275.4 92.5 92.6 253.3 262.4 261.3 17.8
Slide 3: Sales growth in North America
SALES GROWTH IN NORTH AMERICA 2019 FY 56.6 -26.5% 2020 FY 41.6 (-15.0) 2019 FY 104.2 5.7% 2020 FY 110.2 (+6.0) 2019 FY 81.3 -1.9% 2020 FY 79.8 (-1.5) -6% -6% +2% 2019 FY 33.3 -10.8% 2020 FY 29.7 (-3.6) NORTH AMERICA NORDIC REST OF EUROPE REST OF THE WORLD • FX comparable change: +8.1% (+8.3 MEUR) •
Slide 4: Cash flow and working capital
CASH FLOW AND WORKING CAPITAL • Total working capital was 83.9 • Inventories decreased by 23.8 MEUR and was driven by tight control in inventory and centralized purchase quota allocations • Cash flow from operations at a high level of 42.5 MEUR • A key driver for the record cash flow was the positiv
Slide 5: Financial position
FINANCIAL POSITION • Liquidity position of the Group was good. Undrawn committed long-term credit facilities amounted to 10.0 MEUR. Gearing ratio decreased significantly and equity-to-assets ratio improved slightly from last year. • The financial covenants include limits on the amount of indebtednes
Slide 6: Short-term outlook and guidance
SHORT-TERM OUTLOOK AND GUIDANCE • General market outlook for fishing products in North America and Europe is positive and end-consumer demand for recreational fishing products is currently on a good level in the Group’s key markets. In Europe, exit of Shimano business and termination of certain othe
Slide 7: Appendices
APPENDICES RAPALA VMC CORP.
Slide 8: Key figures
KEY FIGURES MEUR 2020 FY 2019 FY Net sales 261.3 275.4 Operating profit 10.7 13.4 Operating profit, % of net sales 4.1 % 4.9 % Comparable operating profit 21.5 17.8 Comparable operating profit, % of net sales 8.2 % 6.5 % Net profit for the period 3.4 4.1 EPS (basic), EUR 0.04 0.10 Cash flow from ope
Slide 9: Geographical net sales
GEOGRAPHICAL NET SALES NORTH AMERICA NORDIC (MEUR) (MEUR) 110.2 104.2 99.2 95.4 91.3 56.2 55.3 55.1 56.6 41.6 2015 FY 2016 FY 2018 FY 2019 FY 2020 FY 2015 FY 2016 FY 2018 FY 2019 FY 2020 FY REST OF EUROPE REST OF THE WORLD (MEUR) (MEUR) 86.9 81.3 78.4 81.3 79.8 35.9 32.7 33.6 33.3 29.7 2015 FY 2016
Slide 10: Profit and loss statement
PROFIT AND LOSS STATEMENT MEUR 2020 FY 2019 FY Net sales 261.3 275.4 Other operating income 1.6 2.2 Materials and services 125.4 131.2 Personnel expenses 69.4 71.6 Other costs and expenses 41.0 48.6 Share of results in associates and joint ventures -0.8 -0.2 EBITDA 26.2 26.0 Depreciation, amortizati
Slide 11: Balance sheet
BALANCE SHEET MEUR 2020 FY 2019 FY ASSETS Non-current assets Intangible assets 71.2 75.5 Property, plant and equipment 22.6 26.9 Right-of-use asset 10.4 13.3 Non-current assets Interest-bearing 7.2 7.8 Non-interest-bearing 11.7 9.2 123.1 132.8 Current assets Inventories 68.8 92.6 Current assets Inte
Slide 12: Shares and shareholders
SHARES AND SHAREHOLDERS Share Price Index Performance 170 160 SHARE RELATED DATA (12/2020) 150 Market capitalization 168.1 MEUR 140 12-month high / low 4.58 / 2.15 EUR 130 120 All-time high / low 8.40 / 2.15 EUR 110 100 MAJOR SHAREHOLDERS (12/2020) % OF TOTAL 90 Viellard Migeon & Cie 38.5 % 80 70 So