Fiskars Oyj Abp · OMXHEX:FSKRS
Fiskars Oyj Abp — Q3 2010 Earnings Presentation
24 slides from Fiskars Oyj Abp's earnings presentation, Nov 2, 2010
Slide 1: Fiskars Group
Fiskars Group November 2, 2010 Page 1 Nov 2, 2010 Fiskars Q3 2010
Slide 2: Agenda
Agenda • Fiskars today • Key events in Q3 2010 • Financial performance in Q3 2010 • Outlook for 2010 • New IR contact as of December 1, 2010: Anu Ilvonen, Corporate Communications Manager anu.ilvonen@fiskars.com Page 2 Nov 2, 2010 Fiskars Q3 2010
Slide 3: Fiskars today
Fiskars today Our net sales totaled €660 million in 2009, and our products are sold in over 60 countries worldwide Page 3 Nov 2, 2010 Fiskars Q3 2010
Slide 4: Developing products that are leading in functionality, innovation, and design
Developing products that are leading in functionality, innovation, and design Page 4 Nov 2, 2010 Fiskars Q3 2010
Slide 5: Strong business areas
Strong business areas HOME GARDEN OUTDOOR €300 million in 2009 €231million in 2009 €128 million in 2009 45% of total sales 35% of total sales 19% of total sales Page 5 Nov 2, 2010 Fiskars Q3 2010
Slide 6: Respected brands
Respected brands Page 6 Nov 2, 2010 Fiskars Q3 2010
Slide 7: New Fiskars
Transformation towards an integrated branded consumer products company –2007 2008–2009 2010–2012 Holding Integrated New company company Implementation structure strategy Fiskars • Conglomerate of • New group • Refined, focused business • Focused independent structure & area and brand strategies • Ef
Slide 8: Fiskars' formula for success
Fiskars’ formula for success FOCUS • Strong business area focus • Specialty premium brand portfolio • Optimized product range in selected categories EFFICIENCY GROWTH • Simplified structure • Consumer-focused • Integrated business product development processes to achieve • Innovative R&D scale and s
Slide 9: Key events in Q3 2010
Key events in Q3 2010 Growth in net sales and operating profit Page 9 Nov 2, 2010 Fiskars Q3 2010
Slide 10: Highlights
Highlights in Q3 2010 • Strong overall performance in the quarter • All business areas improved in EMEA • Positive development in the Americas • Favorable USD currency rate contributed to the net sales • Focus on selected businesses and brands starts to pay off • Outlook unchanged Page 10 Nov 2, 201
Slide 11: Business area Home
Business area Home • Products for the home and kitchen; also scissors and craft products • Net sales €78.8 million in Q3 2010 (Q3 2009: €73.7 million), +7% • Sales of home products rose • Finland and Norway developed particularly well • Sales of SOC products down in Europe, up in the Americas • Succ
Slide 12: Business area Garden
Business area Garden • Garden and construction tools • Net sales €50.0 million in Q3 2010 (Q3 2009: €42.3 million), +18% • Sales of Fiskars-branded products improved • Increased sales of garden cutting tools • New product categories (rain barrels, reel mowers) in the US • New ax product range launch
Slide 13: Business area Outdoor
Business area Outdoor • Outdoor equipment and boats • Net sales €29.5 million in Q3 2010 (Q3 2009: €24.9 million), +18% • Boat and outdoor equipment sales (Silva and Gerber) grew in Europe • Gerber product sales improved but total sales in the US down, due to the Brunton divestment in December 2009
Slide 14: New products
New products in Q3 2010 Page 14 Nov 2, 2010 Fiskars Q3 2010
Slide 15: Financials
Financials in Q3 2010 Growth continued in the quarter Page 15 Nov 2, 2010 Fiskars Q3 2010
Slide 16: Net sales
Net sales in Q3 2010 • Total net sales €159.5 million (Q3 2009: €142.0 million) • Growth 12% or 6% at comparable currency rates Other Others 1.7 MEUR, +1% 1.7 MEUR Outdoor Home 29.5 MEUR Americas 78.8 MEUR +18% 49.2 MEUR +7% +13%, cn+1% Sales by Sales by Operating Business Segment* Area EMEA 112.2 M
Slide 17: Quarterly sales and EBIT
Quarterly sales and EBIT • Net sales €159.5 million (142.0) • Growth 12% or 6% at comparable currency rates Net sales by quarter, MEUR EBIT by quarter, MEUR EBIT % 6.2 % 5.5 % 7.4 % 11.3 % 8.1 % Page 17 Nov 2, 2010 Fiskars Q3 2010
Slide 18: EMEA
EMEA in Q3 2010 • Net sales €112.2 million (99.5) • Growth 13% or 9% at comparable currency rates Net sales by quarter, MEUR EBIT by quarter, MEUR EBIT % 5.9 % 8.5 % 7.7 % 11.6 % 8.3 % Page 18 Nov 2, 2010 Fiskars Q3 2010
Slide 19: Americas
Americas in Q3 2010 • Net sales €49.2 million (43.7) • Growth 13% or 1% at comparable currency rates Net sales by quarter, MEUR EBIT by quarter, MEUR EBIT % 10.5 % 4.5 % 11.8 % 15.9 % 10.9 % Page 19 Nov 2, 2010 Fiskars Q3 2010
Slide 20: Key ratios
Key ratios in Q3 2010 20 Nov 2, 2010 Fiskars Q3 2010
Slide 21: Cash flow and debt
Cash flow and debt in Q3 2010 Cash flow from operating activities*, MEUR Net debt, MEUR * excluding dividends from associated company Wärtsilä Page 21 Nov 2, 2010 Fiskars Q3 2010
Slide 22: Fiskars share price development
Fiskars share price development Valuation of Fiskars’ own operations and the share of Wärtsilä shares 12,00 10,00 8,00 6,00 4,00 2,00 Fiskars stand alone / share 0,00 1.2009 3.2009 5.2009 7.2009 9.2009 11.2009 1.2010 3.2010 5.2010 7.2010 9.2010 Page 22 Nov 2, 2010 Fiskars Q3 2010
Slide 23: Outlook for 2010 unchanged
Outlook for 2010 unchanged • The market situation is slowly recovering in Europe while the market development in the Americas remains more difficult to predict • Fiskars’ net sales in 2010 are expected to be above 2009 levels • Full-year operating profit excluding non-recurring items is expected to
Slide 24: Lasting everyday design, since 1649
Lasting everyday design, since 1649 Page 24 Nov 2, 2010 Fiskars Q3 2010