Slide 1: Fiskars Group Half Year 2016
FISKARS GROUP HALF YEAR 2016 August 2, 2016 - Helsinki, Finland
Slide 2: Disclaimer
Disclaimer • This presentation contains forward-looking statements that reflect management’s current views with respect to certain future events and potential financial performance. Although Fiskars believes that the expectations reflected in such forward-looking statements are reasonable, no assura
Slide 3: Key takeaways
• Our business portfolio today is clearly different from a year ago • At constant currency rates and excluding the positive impact in Q2 2015 of the divested Key businesses, our adjusted operating profit would takeaways have increased in Q2 2016 • We took steps in the transformation process, which i
Slide 4: Fiskars Group in Q2/2016
Fiskars Group in Q2/2016 Net sales increased – operating profit declined due to changes in seasonality of the business portfolio Cash flow from Net sales Adjusted EBIT operating activities* MEUR 293.5 MEUR 17.3 MEUR 39.1 +16% -17% (Q1/2015: 32.5) Operative EPS** Comparable net sales EUR 0.08 (0.15)
Slide 5: Operating profit declined due to changes in seasonality of the business portfolio
Operating profit declined due to changes in seasonality of the business portfolio • Due to seasonality, the majority of the operating profit in the Living business is delivered during the second half of the year, whereas in the divested businesses all of the profits were delivered during the first h
Slide 6: Net sales and profitability improved in Europe supported by the Functional Business
Net sales and profitability improved in Europe supported by the Functional Business 6 | Fiskars Q2 2016
Slide 7: English & Crystal Living net sales increased from the comparison period
English & Crystal Living net sales increased from the comparison period 7 | Fiskars Q2 2016
Slide 8: Conversion rate and average shopping basket size increased in own retail
Conversion rate and average shopping basket size increased in own retail, despite slower traffic in stores 8 | Fiskars Q2 2016
Slide 9: Iittala brand successfully launched in Australia
Iittala brand successfully launched in Australia 9 | Fiskars Q2 2016
Slide 10: Net sales bridge Q2/2016
Net sales bridge Q2/2016 MEUR Comparable Comparable growth growth -7.1% -7.2% 68.6 -2.0 -13.7 Comparable growth +1.3% 293.5 253.5 -12.8 Q2 2015 Functional Living Outdoor Other Q2 2016 10 | Fiskars Q2 2016
Slide 11: Fiskars transformation continued in Q2/2016
Fiskars transformation continued in Q2/2016 STRONG ICONIC GLOBAL BRANDS PRODUCTS AMBITION SIMPLIFYING FUNCTIONAL STRUCTURES PRODUCTS BUILDING COMMON LIVING PLATFORMS PRODUCTS FOCUSING ON OUTDOOR CORE BUSINESSES PRODUCTS • Fiskars is transforming into a global integrated, branded consumer goods compa
Slide 12: Q2 2016 Reporting segments and key figures
Q2 2016 Reporting segments and key figures
Slide 13: Fiskars Group in Q2/2016
Fiskars Group in Q2/2016 Net sales increased – operating profit declined due to changes in seasonality of the business portfolio Net sales and Adjusted EBIT % Adjusted EBIT +15.8% 334 296 -24% 290 294 254 21.9 20.8 16.8 17.3 10.4 1.8 -1.4 -2.5 -3.8 8.2% 7.4% -12.0 5.9% 5.0% 3.6% Q2 2015 Q3 2015 Q4 2
Slide 14: Europe & Asia-Pacific in Q2 and half year 2016
Europe & Asia-Pacific in Q2 and half year 2016 Comparable +1.3% growth +45.8% Q2 Q2 Q1‒Q2 Q1‒Q2 EUR million Change Change 2015 2016 2015 2016 2015 225 Net sales* 178.2 122.3 46% 361.5 249.7 45% 663.6 189 183 178 Operating profit (EBIT) 2.1 7.6 -72% 4.1 14.9 -72% 34.9 Adjusted operating profit 3.1 7.
Slide 15: Americas in Q2 and half year 2016
Americas in Q2 and half year 2016 Comparable -5.6% growth Q2 Q2 Q1‒Q2 Q1‒Q2 +7.5% EUR million Change Change 2015 2016 2015 2016 2015 Net sales* 128.0 119.1 8% 256.9 214.1 20% 451.2 129 128 119 119 118 Operating profit (EBIT) 15.7 15.8 -0% 35.3 26.5 33% 28.1 Adjusted operating profit 16.0 17.0 -6% 33
Slide 16: Cash flow and debt Q2/2016
Cash flow and debt Q2/2016 Cash flow after change in net Net debt working capital 318 307 249 227 65 33 39 5 -36 -79 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Working capital Capex 260 239 233 12.6 191 178 10.1 7.8 8.2 6.2 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016
Slide 17: Key ratios Q2/2016
Key ratios Q2/2016 EPS Operative EPS 0.76 0.17 0.15 0.01 0.10 0.08 0.05 -0.26 -0.83 -0.18 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Equity ratio % Gearing % 28.2 27.0 20.9 20.3 66.2 63.0 65.1 63.7 66.1 -6.6 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q2 2015 Q3 2015
Slide 18: Fiskars' investment portfolio
Fiskars’ investment portfolio • During H1 2016, cash flow from investing activities was EUR 80.0 million, including: • Positive cash flow of EUR 61.7 million from the sale of investments in short term interest rate funds • EUR 25.8 million from the sale of non-current assets held for sale (295.4, in
Slide 19: Events after the reporting period
Events after the reporting period • In July 2016, Fiskars Corporation received a tax reassessment decision from the Finnish Large Taxpayer’s office, which obliged the company to pay EUR 21.7 million additional tax as a result of a tax audit carried out in 2014 • Fiskars will appeal the decision to t
Slide 20: Outlook for 2016 remains unchanged
Outlook for 2016 remains unchanged • Fiskars expects the Group’s 2016 net sales and adjusted operating profit to increase from the previous year, despite the divestments, continued economic uncertainty – particularly in some of the company’s key markets – and the increased costs due to unfavorable e
Slide 21: Celebrating centuries of pride, passion and design. Every day.
Celebrating centuries of pride, passion and design. Every day.