Slide 1: Half-year report January–June 2018
Half-year report January–June 2018 Fiskars, Gerber, Iittala, Royal Copenhagen, Waterford, Wedgwood, Arabia, Gilmour, Royal Albert, Royal Doulton, Rörstrand
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 for Q1–Q2 2018
Key takeaways for Q1–Q2 2018 1 2 3 4 Adverse weather impacted Comparable EBITA Product mix and Fiskars lowered its sales in Functional EMEA, increased in the decreased sales outlook for English & Crystal Living Functional segment, volumes affected comparable net continued to face challenges where ou
Slide 4: Q1–Q2 2018
Q1–Q2 2018 Net sales Comparable EBITA** Cash flow from operating activities*** Earnings per share Q2 EUR million (Q2 2017: 290.0) EUR million (22.4) EUR million (48.6) EUR (0.14)**** 272.6 22.3 42.7 0.13 YoY -6.0% YoY 0% Comparable* change -0.8% EUR million (Q1–Q2 2017: 596.1) EUR million (54.4) EUR
Slide 5: Fiskars Group in Q2 2018
Fiskars Group in Q2 2018 Net sales and comparable EBITA % Comparable EBITA EUR million EUR million -0.8% Comparable change -6.0% 0% 334 36.3 35.4 319 306 32.0 294 290 29.1 281 270 273 266 24.9 23.6 22.4 22.3 20.9 10.9 10.5 10.8 11.1 8.9 8.9 8.2 7.1 7.7 1.3 -2.5 -1.5 -8.2 -1.1 -1.1 -4.9 -1.6 -2.1 Q2
Slide 6: Net sales bridge Q2 2018
Net sales bridge Q2 2018 Net sales Comparable EUR million change -0.8% 290.0 -15.3 3.6 -5.5 0.0 -0.2 272.6 Q2 2017 FX rate Divestments SBU Functional SBU Living Other Q2 2018 6 Fiskars Q2 2018
Slide 7: Our focus areas
Our focus areas We have implemented several changes within the last quarters. We continue to focus on the following areas: • Making progress in operational efficiency • Developing our channel strategy, including e-commerce • Driving sales • Creating great consumer experiences 7 Fiskars Q2 2018
Slide 8: Living marketing Q2 highlights
Living marketing Q2 highlights • Royal Copenhagen launched a new dinnerware series, Blomst. Blomst is a reinterpretation of one of the oldest decorations in Royal Copenhagen's history, Blue Flower dating back to 1780 • Iittala and Arabia launched a second-hand pilot in selected stores in Finland. Du
Slide 9: Functional marketing Q2 highlights
Functional marketing Q2 highlights • Fiskars’ new cooking range Norden was awarded the Red Dot Award and two Good Design 2018 Australia -awards. The cast-iron cookware and knives will be available worldwide in the fall of 2018. Norden steel cookware will be available in early 2019. • In the U.S. Fis
Slide 10: Fiskars Q2 2018
Fiskars Q2 2018 10 Fiskars Q2 2018
Slide 11: Living in Q2 2018
Living in Q2 2018 EUR million Q2 2018 Q2 2017 Change Q1-Q2 2018 Q1-Q2 2017 Change Comparable Q2 2018: -4.7% Net sales 112.4 123.1 -8.7% 224.8 252.3 -10.9% change* Comparable EBITA 2.4 7.3 -68% 5.7 14.6 -61% -8.7% Capital expenditure 6.0 2.0 200% 11.1 4.6 142% 188 • Net sales in the Living segment de
Slide 12: Functional in Q2 2018
Functional in Q2 2018 EUR million Q2 2018 Q2 2017 Change Q1-Q2 2018 Q1-Q2 2017 Change Comparable Q2 2018: +2.3% Net sales 159.4 165.9 -3.9% 312.2 342.0 -8.7% change* Comparable EBITA 23.2 18.3 27% 47.3 45.1 5% -3.9% Capital expenditure 3.9 4.5 -13% 7.2 9.6 -25% 166 159 • Net sales in the Functional
Slide 13: Net sales by geography in Q2 2018
Net sales by geography in Q2 2018 Comparable Comparable EUR million Q2 2018 Q2 2017 Change Q1-Q2 2018 Q1-Q2 2017 Change change* change* Europe 123.9 132.0 -6.2% -4.3% 249.7 271.3 -7.9% -6.0% Americas 118.0 120.3 -1.9% 7.3% 228.2 249.9 -8.7% 2.3% Asia-Pacific 32.4 37.0 -12.5% -6.2% 63.9 72.8 -12.3% -
Slide 14: Other segment
Other segment • The Other segment contains the Group’s investment portfolio, the real estate unit, corporate headquarters and shared services • Based on the new IFRS 9 standard that Fiskars adopted from January 1, 2018, Fiskars Group records the change in fair value of investments in other comprehen
Slide 15: Earnings per share
Earnings per share EPS • Prior to Q1 2018, Fiskars has reported earnings per EUR per share 0.34 share (EPS) and operative earnings per share 0.28 • In accordance with the IFRS 9 accounting principles, the change in fair value of investments has been moved 0.23 0.21 0.25 0.20 to other comprehensive i
Slide 16: Improved working capital in Q2 2018
Improved working capital in Q2 2018 Cash flow from operating activities before Working capital financial items and taxes EUR million EUR million 258 252 104 242 233 232 227 78 218 218 196 49 43 39 40 25 -39 -46 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2016 2016 2016 2017 2017 2017 2017
Slide 17: Net debt decreased in Q2 2018
Net debt decreased in Q2 2018 Net debt Equity ratio and net gearing EUR million 257 227 228 226 226 68 69 67 69 69 68 68 211 66 66 207 152 148 20 21 19 18 17 18 17 12 12 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2016 2016 2016 2017 2017 2017 2017 2018 2018 2016 2016 2016 2017 2017 2017 2
Slide 18: Outlook for 2018 updated on July 18, 2018
Outlook for 2018 updated on July 18,2018 In 2018, Fiskars expects the Group's comparable net sales to be slightly below the previous year and comparable EBITA to increase from 2017. The fourth quarter of the year is significant both in terms of net sales and profitability. Previously, Fiskars expect
Slide 19: Long-term financial targets
Long-term financial targets Q2 2018 2017 GROWTH -6.0% YoY -1.6% YoY The average annual net sales growth to exceed 5%, through a combination of organic growth and targeted acquisitions PROFITABILITY 7.4% 9.5% EBITA margin to exceed 10% CAPITAL STRUCTURE 17% 12% Net gearing* below 100% DIVIDEND A tota
Slide 20: Making the everyday extraordinary
Making the everyday extraordinary 20 Fiskars Q2 2018