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PRESENTATION OF THE FENIX OUTDOOR GROUP
President Martin Nordin2009-06-24
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BUSINESS CONCEPT
The business concept of Fenix Outdoor is to develop and market high quality and low-weight
outdoor products through a selected retail network with a high level of service and
professionalism to end-consumers with high expectations
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THE HISTORY OF THE FENIX OUTDOOR GROUP
1950: The founder, Åke Nordin starts to develop outdoor equipment
1960: Fjällräven AB is founded1983: Fjällräven is introduced on the Swedish OTC stock
exchange1998: The logistic centre in Holland is built out in order to
serve the whole of Europe
2001: Fjällräven acquires Tierra AB and the three retail chainsFriluftsbolaget, Naturkompaniet (Sweden) and
Skandinavisk Høyfjellsutstyr (Norway).
2002: Primus is acquired. The Fjällräven Group changes its name to Fenix Outdoor Group.
2003: New logistic and warehouse opened in Holland2004: Hanwag is acquired2007: Skandinavisk Høyfjellsutstyr (Norway) sold.2008: JV established in China. 2009: Naturkompaniet opens up its 21th own shop (totally 28
including franchise).
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ORGANISATION STRUCTURE
Fenix Outdoor AB (publ)Fenix Outdoor AB (publ)
RetailRetail
Natur-kompaniet
Natur-kompaniet
BrandsBrands
FjällrävenFjällräven TierraTierra
CFOCFO
Accounting Treasury
IT Facilities
Accounting Treasury
IT Facilities
PrimusPrimus
.
HanwagHanwag
LogisticsLogistics
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GROWTH IN SALES AND PROFITMARGIN
-5%
0%
5%
10%
15%
20%
25%
2003 2004 2005 2006 2007 2008
Year
Gro
wth
an
d p
rofi
tmar
gin
Growth
Profit margin
Net sales Profit Growth Profit504,3 before tax in sales margin
Annual 2003 544,4 41,5 8% 8%Annual 2004 540,2 25,0 -1% 5%Annual 2005 655,5 67,6 21% 10%Annual 2006 742,8 83,0 13% 11%Annual 2007 845,0 120,1 14% 14%Annual 2008 961,1 145,2 14% 15%
Q1 2008 222,8 29,9 13%Q1 2009 298,6 51,0 34% 17%
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DELÅRSRAPPORT FÖR FENIX OUTDOOR AB (publ) 2009-01-01 – 2009-03-31
Koncernens nettoomsättning uppgick till 298,6 (222,8) MSEK, en ökning med 34%.
Koncernens rörelseresultat uppgick till 49,3 (31,0) MSEK, en ökning med 59%. Koncernens resultat före skatt uppgick till 51,0 (29,9) MSEK, en ökning med 71%
Koncernens resultat efter skatt uppgick till 37,5 (19,4) MSEK, en ökning med 93%. Den kraftiga omsättningsökningen kan till en betydande del förklaras av tidiga
utleveranser, god förorderstock samt den svaga kronan, men även av en fortsatt god utveckling för koncernens retailverksamhet.
Vinst per aktie efter skatt uppgick till 2,83 (1,46) kronor.
SEMI ANNUAL REPORT Q1
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THE FENIX SHARE
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GROUP GOALS
Achieve an average profit margin before taxes of at least 10%
Achieve a average growth rate of at least 10% per annum in the next five years
Become one of the leading players in Europe in outdoor clothing and equipment
”Fenix Outdoor is aiming at strong
international growth while retaining an
outstanding profitability”
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HOW DO WE REACH OUR LONG TERM GOALS?
Fenix Outdoor Group will achieve its goals
in two ways
A European expansion based on a strong Nordic retail network and strong
brands, through organic growth:
- Marketing- Use retail feedback
- Establish new business on new markets
Expanding the brands division through acquiring additional outdoor
brands.
Use and develop our well-functioning logistic organisation as a platform for further expansion while maintaining profitability and using synergies
of scale
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THE BRANDS DIVISION
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STRONG EUROPEAN MARKET POSITION
Germany 36,6% 33,6% 33,9%
Benelux 15,8% 15,7% 16,8%
Other Nordic 16,9% 18,1% 17,1%
Other Europe 13,1% 12,5% 12,7%
Sweden, excl 11,1% 12,6% 11,4%sales to Naturk.
Other markets 6,4% 7,5% 8,1%
Share of Net Sales for Brands on different markets
2008 2007 2006SUMMARY BRANDS
2008 Net sales 708,0 (610,8) MSEK, an increase of 16%.
Operating result for Brands 109,6 (99,3) MSEK.
2009 Q1Net sales 245,5 (179,3) MSEK, an increase of 37%.
Operating result56,7 (43,5) MSEK.
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THE BRANDS DIVISION - FJÄLLRÄVEN
The Fjällräven products are distributed through several selected retailers in countries where the company is represented
Fjällräven designs and develops a summer- and winter collection each year.
Fjällräven has a presence in more than 15 countries
Fjällräven has an excellent position to keep strong growth and profitability in the years to come
The brand awareness of Fjällräven is high on several European markets.
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THE BRANDS DIVISION - TIERRA
The Tierra brand was founded in 1982 and is one of the leading brands in Scandinavia in the segment for high-tech clothing for demanding outdoor activities
The products are targeted at end-consumers with a strong interest in outdoor activities and that are expecting high functionality and extremely high quality products
Tierra has a presence in Sweden and Norway
Tierra is a complement to Fjällräven with technical garments
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THE BRANDS DIVISION - PRIMUS
Primus was founded in 1892 and develops outdoor and camping equipment in the segments of boiling, heating and lighting, powered by gas and liquid fuels.
The Primus products are targeted at end-consumers demanding portable equipment for extreme conditions.
Primus is through pioneering research and development the leading manufacturer of boiling and lighting equipment for the outdoor market.
Primus has a world-wide presence
Primus largest markets are the USA, Scandinavia and Western Europe.
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THE BRANDS DIVISION - HANWAG
The firm Hanwag has been manufacturing Hanwag boots just north of Munich since 1921, gaining a worldwide reputation for the exceptional quality of their boots.
Hanwag has a world-wide presence
Hanwag´s largest markets are Germany and Holland.
Hanwag boots are sold in 16 countries across the world.
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THE RETAIL DIVISION
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THE RETAIL DIVISION
Naturkompaniet
28 stores
A retail network of 28 stores in attractive sites in Sweden creates a solid base for growth. New shop opened in Halmstad in September 2008, new franchisestore in Kristianstad, April 2009 and new shop in Stockholm 2009.
Focus on selling well-known brands and high-quality products to end-consumers with high expectations of quality and functionality.
A unique focus on the outdoor segment offering a wide range assortment of clothing, shoes, equipment, maps etc. is a competitive advantage over other retail networks focusing on general sports goods.
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A BROAD RETAIL ASSORTMENT
The retail chains marketing and sells a broad assortment for an active outdoor life:
– Clothes (Tierra, Fjällräven, North Face, Patagonia, Haglöfs, Marmot etc.)
– Shoes and boots (Hanwag, Meindl, Teva etc.)– Technical equipment (Primus, Silva, Trangia etc.)– Other outdoor equipment including books and
maps
”The complete assortment of outdoor products is a competitive advantage towards other retailers only
focusing on sporting goods”
SUMMARY RETAIL
2008 Net sales 253,1 (234,2) MSEK, an increase of 8%, comp. units +2%. Operating result for Retail 25,9 (24,5) MSEK.
2009 Q1Net sales 53,1 (43,5) MSEK, an increase of 22%, comp units +20%.
Operating result 1,4 (-1,5) MSEK.