The following is a summary of the Fiskars Oyj Abp (FKRAF) Q4 2023 Earnings Call Transcript:
Financial Performance:
Fiskars reported a significant increase in cash flow, achieving an all-time high in 2023.
Top line revenue for 2023 decreased by 10%, also reflected in a decrease in EBIT.
Gross margin increased, resulting in an improvement in the earnings per share.
A strong cash position led to a proposed increase in dividend to EUR 0.82 per share.
EBIT for 2024 is expected to slightly increase, with an anticipated impact from the Georg Jensen acquisition.
Q4 saw a comparable net sales growth of 13.7%, largely influenced by the Georg Jensen acquisition.
An all-time high full-year cash flow of EUR 185 million was achieved in 2023, with a successful reduction in the large net working capital accumulated in 2022.
Business Progress:
Successful integration of the Georg Jensen acquisition improved Q4 results.
Strong growth is seen in China with a 25% rise for the full year.
The company acquired a CDP rating of A-, tripled the share of circular products and services to 14% during 2023, indicating strong progress on sustainability.
The company continues to streamline business operations, with a second wave of the MyFiskars share plan and a launch in FiskarsLAB.
The company managed to reach its target net debt to EBITDA ratio of 2.5x ahead of schedule.
Plans for further reduction of net working capital are in place, with a target of EUR 80 million to EUR 100 million over the next few years.
A strong focus for the future is on profitability improvement and net sales growth, especially in Asian markets.
More details: FISKARS OYJ IR
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.