Fiskars Oyj Abp · OMXHEX:FSKRS
Fiskars Oyj Abp — Fiskars — Q2 2010 Earnings Presentation
24 slides from Fiskars Oyj Abp's earnings presentation, Aug 5, 2010
Slide 1: Fiskars Group
Fiskars Group August 5, 2010 Page 1 Aug 5, 2010 Fiskars Q2 2010
Slide 2: Agenda
Agenda • Fiskars today • Key events in Q2 2010 • Financial performance in Q2 2010 • Outlook for 2010 Page 2 Aug 5, 2010 Fiskars Q2 2010
Slide 3: Fiskars today
Fiskars today International consumer products company that offers innovative products for the home, garden, and outdoors
Slide 4: Fiskars in brief
Fiskars in brief • Net sales €663 million in 2009 • Over 3,500 employees in more than 20 countries • Products sold in over 60 countries EMEA (Europe, Asia, Australia) 67% of total sales AMERICAS 32% of total sales Page 4 Aug 5, 2010 Fiskars Q2 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 Aug 5, 2010 Fiskars Q2 2010
Slide 6: 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 7: 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 8: Key events in Q2 2010
Key events in Q2 2010 Strong growth in net sales and operating profit Page 8 Aug 5, 2010 Fiskars Q2 2010
Slide 9: Highlights in Q2 2010
Highlights in Q2 2010 • Exceptionally strong quarter as a whole • Net sales and operating profit grew in EMEA • Improvements in Home, Garden, and Boat businesses • Stable development in the Americas • Sales at 2009 levels despite divestments • Outlook unchanged • Market slowly recovering in Europe;
Slide 10: Business area Home
Business area Home • Products for the home and kitchen; also scissors and craft products • Net sales €72.1 million in Q2 2010 (Q2 2009: €67.3 million) • Sales of home products rose • Finland, Sweden, and Italy developed particularly well • Sales of SOC products decreased • Divestment of craft consum
Slide 11: Business area Garden
Business area Garden • Garden and construction tools • Net sales €87.8 million in Q2 2010 (Q2 2009: €80.0 million) • Sales of garden tools clearly above 2009 levels • Increase partly due to late spring; postponed sales from Q1 to Q2 • Market for construction tools recovering • Investments in marketi
Slide 12: Business area Outdoor
Business area Outdoor • Outdoor equipment and boats • Net sales €35.4 million in Q2 2010 (Q2 2009: €31.2 million) • Outdoor sales improved • Boat market recovering: Buster gained more market share; a new brand Drive Boats launched • Silva’s outdoor equipment sales at 2009 levels • Brunton divestment
Slide 13: New products in Q2 2010
New products in Q2 2010 Page 13 Aug 5, 2010 Fiskars Q2 2010
Slide 14: Iittala Group's Case under the Competition Act
Iittala Group’s Case under the Competition Act • The Finnish Competition Authority has proposed to the Market Court that a fine of EUR 4 million should be imposed on Iittala Group Oy Ab due to violation of the Finnish Competition Act by applying resale price maintenance between 2005 and 2007. The cl
Slide 15: Financials in Q2 2010
Financials in Q2 2010 Strong performance in the quarter Page 15 Aug 5, 2010 Fiskars Q2 2010
Slide 16: Net sales in Q2 2010
Net sales in Q2 2010 • Net sales increased 9% to €195.9 million (Q2 2009: €179.0 million) Other 1.2 MEUR Others 5% 0.6 MEUR Outdoor Home Americas 35.4 MEUR 72.1 MEUR 71.0 MEUR 14% 7% 8% or cn 0% Sales by Sales by Business Segment* Area Garden EMEA 87.8 MEUR 127.1 MEUR 10% 10% or cn 6% * Inter-segmen
Slide 17: Quarterly sales and EBIT
Quarterly sales and EBIT • Net sales €195.6 million (179.0), operating profit €22.2 million (12.6) in Q2 2010 Net sales by quarter, MEUR EBIT by quarter, MEUR EBIT % 7.3 % 6.2 % 5.5 % 7.4 % 11.3 % EBIT excluding non-recurring items Non-recurring items Page 17 Aug 5, 2010 Fiskars Q2 2010
Slide 18: EMEA in Q2 2010
EMEA in Q2 2010 • Net sales €127.1 million (115.9); +10% or +6% at comparable currency rates Net sales by quarter, MEUR EBIT by quarter, MEUR EBIT % 4.5 % 5.9 % 8.5 % 7.7 % 11.6% Page 18 Aug 5, 2010 Fiskars Q2 2010
Slide 19: Americas in Q2 2010
Americas in Q2 2010 • Net sales €71.0 million (65.9); 8% or 0% at comparable currency rates Net sales by quarter, MEUR EBIT by quarter, MEUR EBIT % 16.0 % 10.5 % 4.5 % 11.8 % 15.9 % Page 19 Aug 5, 2010 Fiskars Q2 2010
Slide 20: Key ratios in Q2 2010
Key ratios in Q2 2010 Page 20 Aug 5, 2010 Fiskars Q2 2010
Slide 21: Cash flow and debt
Cash flow and debt in Q2 2010 Cash flow from operating activities*, MEUR Net debt, MEUR * excluding dividends from associated company Wärtsilä Page 21 Aug 5, 2010 Fiskars Q2 2010
Slide 22: Fiskars share price development
Fiskars share price development Valuation of Fiskars’ own operations and the share of Wärtsilä shares 10,00 9,00 8,00 7,00 6,00 5,00 4,00 3,00 2,00 Wärtsilä / Fiskars share 1,00 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
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 Aug 5, 2010 Fiskars Q2 2010