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RAPALA VMC CORPORATIONHIGHLIGHTS H1 2017
2
Rapala, Storm & VMC Pro Staff Angler Brandon Palaniuk Wins Bassmaster Elite Tournament in Maywith Storm Arashi Top Walker lure and VMC Jig Hooks
Rapala Pro Staff AnglersHold Top 3 Positions on the Bassmaster Elite Tour
#2 Jacob Wheeler
#1 Ott DeFoe
#3 Brandon Palaniuk
RAPALA VMC CORPORATIONHALF YEAR H1 2017
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6
H1 H2
154,0 143,1 140,9
124,2 117,5
2015 2016 2017
Net sales, MEUR
20,615,6
11,4
4,8
3,2
2015 2016 2017
Comparable operating profit,
MEUR
10,76,2 8,1
4,920,5
2015 2016 2017
Cash flow from operations,
MEUR0,19
0,19 0,15-0,01
-0,27
2015 2016 2017
EPS, EUR
7
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•
•
•
Q1 Q2 Q3 Q4
0
20
40
60
80
100
120
140
160
180
H1 H2 H1 H2 H1 H2 H1 H2 H1 H2
2013 2014 2015 2016 2017
Net sales
8
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+2%
-5%
-6%
-10%
-6%
-9%
-10%
46,4
47,6
15,3
15,748,0
45,8
33,3
31,8
+3%
-5%
-5%
+3%
0
20
40
60
80
100
120
H1 H2 H1 H2 H1 H2 H1 H2 H1 H2
2013 2014 2015 2016 2017
Group products
Q1 Q2 Q3 Q4
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•
•
•
•
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•
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9
0
20
40
60
80
100
120
H1 H2 H1 H2 H1 H2 H1 H2 H1 H2
2013 2014 2015 2016 2017
Third party products
Q1 Q2 Q3 Q4
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•
•
•
•
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10
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
0
5
10
15
20
25
H1 H2 H1 H2 H1 H2 H1 H2 H1
2013 2014 2015 2016 2017
MEU
R
Comparable operating profit, MEUR Comparable operating profit, %
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•
•
•
•
11
-5
0
5
10
15
20
25
H1 H2 H1 H2 H1 H2 H1 H2 H1
2013 2014 2015 2016 2017
Group products Third party products
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•
•
•
•
•
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12
-0,30
-0,21
-0,12
-0,03
0,06
0,15
0,24
0,33
-12
-10
-8
-6
-4
-2
0
2
4
6
8
10
12
14
16
H1 H2 H1 H2 H1 H2 H1 H2 H1
2013 2014 2015 2016 2017
EPS
Ne
t p
rofi
t
Net profit attributable to equity holders of the company, MEUR
Net profit attributable to non-controlling interests, MEUR
EPS, EUR
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•
•
•
•
•
•
13
90
100
110
120
130
140
150
H1 H2 H1 H2 H1 H2 H1 H2 H1
2013 2014 2015 2016 2017
Working capital, MEUR
Total working capital, MEUR Inventories, MEUR
0
5
10
15
20
25
H1 H2 H1 H2 H1 H2 H1 H2 H1
2013 2014 2015 2016 2017
Cash flow from operations, MEUR
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14
82,9 %
46,8 %
43,6 %
50,1 %
30%
40%
50%
60%
70%
80%
90%
H1 H2 H1 H2 H1 H2 H1 H2 H1
2013 2014 2015 2016 2017
Gearing and Equity ratio, %
Gearing, % Equity ratio, %
115,8
71,3
0
20
40
60
80
100
120
140
H1 H2 H1 H2 H1 H2 H1 H2 H1
2013 2014 2015 2016 2017
MEU
R
Net interest-bearing debt, MEUR
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15
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APPENDICES
H1 Key figures
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MEUR H1/2017 H1/2016 FY/2016
Net sales 140.9 143.1 260.6
Operating profit 11.0 14.2 7.2
Operating profit, % of net sales 7.8% 9.9% 2.8%
Comparable operating profit 11.4 15.6 18.8
Comparable operating profit, % of net sales 8.1% 10.9% 7.2%
Net profit for the period 6.0 8.2 -2.0
EPS (basic), EUR 0.15 0.19 -0.08
Cash flow from operations 8.1 6.2 26.7
Net interest-bearing debt 71.3 115.8 96.1
ROCE, % 9.6% 11.3% 3.0%
Gearing, % 46.8% 82.9% 70.6%
Equity to assets, % 50.1% 43.6% 43.1%
19
Q1 Q2 Q3 Q4
0
10
20
30
40
50
60
70
H1 H2 H1 H2 H1 H2 H1 H2 H1 H2
2013 2014 2015 2016 2017
North America
0
10
20
30
40
50
60
70
H1 H2 H1 H2 H1 H2 H1 H2 H1 H2
2013 2014 2015 2016 2017
Nordic
0
10
20
30
40
50
60
70
H1 H2 H1 H2 H1 H2 H1 H2 H1 H2
2013 2014 2015 2016 2017
Rest of Europe
0
10
20
30
40
50
60
70
H1 H2 H1 H2 H1 H2 H1 H2 H1 H2
2013 2014 2015 2016 2017
Rest of the World
EPS
20
-0,40
-0,30
-0,20
-0,10
0,00
0,10
0,20
0,30
0,40
H1 H2 H1 H2 H1 H2 H1 H2 H1
2013 2014 2015 2016 2017
EUR
EPS, EUR
-150 %
-100 %
-50 %
0 %
50 %
100 %
150 %
-0,20
-0,10
-
0,10
0,20
0,30
0,40
2013 2014 2015 2016 2017
EUR
EPS, EUR DPS, EUR Payout, %
Profit and loss account
21
MEUR H1 2017 H1 2016 FY/2016
Net sales 140.9 143.1 260.6
Other operating income 0.6 0.2 1.3
Materials and services 63.5 63.6 129.0
Personnel expenses 35.2 35.1 67.6
Other costs and expenses 28.2 27.0 51.1
Share of results in associates and joint ventures 0.0 0.0 -0.1
EBITDA 14.5 17.6 14.1
Depreciation, amortization and impairments 3.6 3.4 6.9
Operating profit (EBIT) 11.0 14.2 7.2
Financial income and expenses 1.8 2.8 5.0
Profit before taxes 9.2 11.4 2.2
Income taxes 3.1 3.1 4.2
Net profit for the period 6.0 8.2 -2.0
Balance sheet
22
MEUR H1 2017 H1 2016 FY/2016
ASSETS
Non-current assets
Intangible assets 74.9 76.5 78.2
Property, plant and equipment 34.2 35.7 36.2
Non-current assets
Interest-bearing 0.0 0.9 0.0
Non-interest-bearing 8.5 11.2 9.1
117.6 124.4 123.5
Current assets
Inventories 99.1 118.1 102.2
Current assets
Interest-bearing 0.9 1.0 0.9
Non-interest-bearing 63.0 66.7 55.8
Cash and cash equivalents 24.0 10.4 33.8
187.0 196.2 192.7
Total assets 304.6 320.6 316.1
EQUITY AND LIABILITIES
Equity
Equity attributable to the equity holders of the company 120.0 131.6 127.5
Non-controlling interests 7.2 8.1 8.6
Hybrid bond 25.0
152.3 139.7 136.1
Non-current liabilities
Interest-bearing 40.6 56.3 41.5
Non-interest-bearing 11.0 12.5 11.6
51.6 68.9 53.1
Current liabilities
Interest-bearing 55.6 71.8 89.3
Non-interest-bearing 45.2 40.2 37.6
100.8 112.1 126.9
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