Kvartalsrapport Q3 2024

Automatiskt nyckeltalsindex

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===== SIDA 1 =====

FENIX OUTDOOR INTERNATIONAL AG 
Interim condensed consolidated financial statements for the 
period ended 30 September 2024 
Third quarter 2024-07-01 – 2024-09-30 
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• 
• 
• 
• 
Period 2024-01-01 – 2024-09-30 
 
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• 
• 
• 
• 
• 
Events after period closing  
Holding of own shares  
 
 
Financial information  
 
 
Contact person

===== SIDA 2 =====

2 
 
 
Interim report, nine months 
COMMENTS BY THE EXECUTIVE CHAIRMAN

===== SIDA 3 =====

3 
 
 
Interim report, nine months 
å
 å

===== SIDA 4 =====

4 
 
 
Interim report, nine months 
’
’
MEUR 
Jul-
Sept 
2024 
Jul-
Sept 
2023 
Jan-
Sept 
2024 
Jan-
Sept 
2023 
Oct/Sept 
2023/2024 
Jan-
Dec 
2023 
Net sales  197.5 223.0 511.0 559.2 691.2 739.4 
EBITDA 43.6 51.4 78.1 96.1 95.6 113.7 
Operating profit  28.6 37.4 34.8 54.6 35.3 55.0 
Profit margin, %  14.5% 16.8% 6.8% 9.8% 5.1% 7.4% 
Result before tax 23.7 35.8 27.7 54.7 20.6 47.6 
Net result for the period  18.4 27.8 17.9 38.8 11.1 32.0 
Earnings per B-share, EUR *) 1.38 2.08 1.34 2.91 0.72 2.37 
Solvency rate, % *)     61.5% 58.8%   56.1% 
*) Earnings per share are calculated on outstanding shares. Solvency rate are calculated as Equity 
as a percent of total assets.

===== SIDA 5 =====

5 
 
 
Interim report, nine months 
 
 
  
197,5 223,0
511,0
559,2
691,2
739,4
 0,0
 100,0
 200,0
 300,0
 400,0
 500,0
 600,0
 700,0
 800,0
Q3, 2024 Q3, 2023 Q1-Q3, 2024 Q1-Q3, 2023 12 months,
2023/2024
Q1-Q4, 2023
Net sales, MEUR
28,6 37,4 34,8 
54,6 
35,3
55,0
 0,0
 10,0
 20,0
 30,0
 40,0
 50,0
 60,0
Q3, 2024 Q3, 2023 Q1-Q3, 2024 Q1-Q3, 2023 12 months,
2023/2024
Q1-Q4, 2023
Operating profit, MEUR

===== SIDA 6 =====

6 
 
 
Interim report, nine months 
THE OPERATION 
Brands 
Frilufts 
Global sales 
Common, Liquidity and financial standing

===== SIDA 7 =====

7 
 
 
Interim report, nine months 
THE OPERATION 
 
External sales and operating result per segment 
  
59,8
47,3 45,2
35,0
47,4
19,1
- 1,5
12,9
0,2
19,8
- 10,0
 0,0
 10,0
 20,0
 30,0
 40,0
 50,0
 60,0
 70,0
Q3, 2023 Q4, 2023 Q1, 2024 Q2, 2024 Q3, 2024
Brands
External Net sales, MEUR Operating result, MEUR
99,7 98,5
71,1
82,1
97,4
4,4 5,7 - 7,3 - 3,6
3,5
- 20,0
 0,0
 20,0
 40,0
 60,0
 80,0
 100,0
 120,0
Q3, 2023 Q4, 2023 Q1, 2024 Q2, 2024 Q3, 2024
Frilufts
External Net sales, MEUR Operating result, MEUR
63,3
34,4
47,6
32,4
52,8
13,8
0,6
7,8
- 1,3
6,8
- 10,0
 0,0
 10,0
 20,0
 30,0
 40,0
 50,0
 60,0
 70,0
Q3, 2023 Q4, 2023 Q1, 2024 Q2, 2024 Q3, 2024
Global sales
External Net sales, MEUR Operating result, MEUR

===== SIDA 8 =====

8 
 
 
Interim report, nine months 
FINANCIAL REPORT 
   
3 months 
 
 
9 months 
 
12 months 
CONSOLIDATED INCOME STATEMENT 
MEUR 
Total income 
Operating expenses  
Operating profit  
Profit before tax  
Net profit for the period

===== SIDA 9 =====

9 
 
 
Interim report, nine months 
 
 
 
Consolidated Statement of  
 
3 months 9 months 
 
12 months 
 
Comprehensive Income 
MEUR  
Net profit for the period 
Total other comprehensive income for the period  
Total comprehensive income for the period

===== SIDA 10 =====

10 
 
 
Interim report, nine months 
FINANCIAL REPORT 
CONSOLIDATED STATEMENT OF 
FINANCIAL POSITION, MEUR 
Assets 
Non-current assets 
Total non-current assets  
Current assets 
Total current assets  
Total assets 
Equity and liabilities 
Total equity  
Liabilities 
Total non-current liabilities  
Total current liabilities  
Total Liabilities 
Total equity and liabilities

===== SIDA 11 =====

11 
 
 
Interim report, nine months 
FINANCIAL REPORT 
Consolidated statement of changes in equity

===== SIDA 12 =====

12 
 
 
Interim report, nine months 
FINANCIAL REPORT 
 
 
Consolidated statement of cash flows 
MEUR 
OPERATING ACTIVITIES   
Cash flow from operating activities before changes in working capital  
Cash flow from operating activities  
INVESTING ACTIVITIES 
Cash flow from investing activities  
FINANCING ACTIVITIES 
Cash flow from financing activities

===== SIDA 13 =====

13 
 
 
Interim report, nine months 
Notes to the financial report 
 
Note 1 Accounting principles 
Note 2 Right of use assets 
 
30.09.2024, MEUR Brands Frilufts 
Global 
sales Common Total 
Right-of use assets 24.4 94.4 1.4 3.8 124.0 
Lease liabilties -26.3 -96.2 -1.4 -4.5 -128.6 
 
  Brands Frilufts 
Global 
sales Common Total 
Depreciation -6.8 -17.9 -0.7 -0.8 -26.2 
Interest cost -0.6 -1.6 0.0 -0.1 -2.3 
 
 
 
 
31.12.2023, MEUR Brands Frilufts 
Global 
sales Common Total 
Right-of-use assets 30.3 98.1 1.4 0.6 130.4 
Lease liabilities -32.6 -99.5 -1.3 -0.5 -133.8 
 
  Brands Frilufts 
Global 
sales Common Total 
Depreciation -9.0 -23.2 -1.2 -0.8 -34.2 
Interest cost -0.8 -1.5   -2.3 
 
 
 
Note 3 Exchange rates 
  Average rate   Balance sheet closing rate 
  
Jan-Sept 
2024 
Jan-Sept 
2023 
Jan-Dec 
2023   
Jan-Sept 
2024 
Jan-Sept 
2023 
Jan-Dec 
2023 
EUR/SEK 11.4211 11.4951 11.4842   11.3000 11.5325 11.0960 
EUR/CHF 0.9585 0.9792 0.9712   0.9439 0.9669 0.9260 
EUR/USD 1.0870 1.0815 1.0826   1.1196 1.0594 1.1050 
CHF/SEK 11.9158 11.7394 11.8253   11.9716 11.9273 11.9827

===== SIDA 14 =====

14 
 
 
Interim report, nine months 
Note 4 Risks 
 
Note 5 Hedge accounting 
 
  
Market value, TEUR 
FX Forwards 
 
 
Note 6 Segment reporting – sales and operating result
Third quarter 2024-07-01 – 2024-09-30
  
Brands 
              
  Frilufts Global sales 
Common and 
elimination Group 
Jul-Sep Jul-Sep Jul-Sep Jul-Sep Jul-Sep Jul-Sep Jul-Sep Jul-Sep Jul-Sep Jul-Sep 
2024 2023 2024 2023 2024 2023 2024 2023 2024 2023 
External Sales, MEUR 
Internal Sales, MEUR 
Sum Net Sales, MEUR 
EBITDA, MEUR  
Operating result, MEUR 
  (3 months data are not included in auditors’ review of the interim report)

===== SIDA 15 =====

15 
 
 
Interim report, nine months 
                      
Brands Frilufts Global sales Common Total 
External sales per Jul-Sep Jul-Sep Jul-Sep Jul-Sep Jul-Sep Jul-Sep Jul-Sep Jul-Sep Jul-Sep Jul-Sep 
market, MEUR 2024 2023 2024 2023 2024 2023 2024 2023 2024 2023 
Switzerland 
Sweden 
Other Nordic countries 
Germany 
Benelux 
Other Europe 
Americas 
Other World 
Total 
Period 2024-01-01 – 2024-09-30
  Brands Frilufts Global sales 
Common and 
elimination Group 
Jan-Sep Jan-Sep Jan-Sep Jan-Sep Jan-Sep Jan-Sep Jan-Sep Jan-Sep Jan-Sep Jan-Sep 
2024 2023 2024 2023 2024 2023 2024 2023 2024 2023 
External Net sales, MEUR 
Internal Net sales, MEUR 
Total Net Sales, MEUR 
  
EBITDA, MEUR  
Operating result, MEUR 
Number of Stores 
of which are franchise 
Non-current assets 
Cap. Expenditures 
            
Brands Frilufts Global sales Common Total 
External sales per Jan-Sep Jan- Sep Jan-Sep Jan-Sep Jan-Sep Jan-Sep Jan-Sep Jan-Sep Jan-Sep Jan-Sep 
market, MEUR 2024 2023 2024 2023 2024 2023 2024 2023 2024 2023 
Switzerland 
Sweden 
Other Nordic countries 
Germany 
Benelux 
Other Europe 
Americas 
Other World 
Total

===== SIDA 16 =====

16 
 
 
Interim report, nine months 
Note 7 Outstanding options from acquisitions 
 
Note 8 Acquisitions, Partnership and Sale of business

===== SIDA 17 =====

17 
 
 
Interim report, nine months 
 
Note 9 Transactions with related parties
 
Note 10 Events after period closing 
Alexander Koska

===== SIDA 18 =====

Ernst & Young 
Ltd 
Maagplatz 1 
P.O. Box 
CH-8010 Zurich 
Phone: +41 58 286 31 11 
www.ey.com/en_ch 
 
 
 
 
To the Board of Directors of  
Fenix Outdoor International AG, Zug 
 
 
Report on the review of interim condensed consolidated financial statements 
 
 
Introduction 
We have reviewed the interim condensed consolidated financial statements (consolidated 
income statement, consolidated statement of comprehensive income, consolidated statement 
of financial statement, consolidated statement of cash flows, consolidated statement of 
changes in equity and notes), pages 8 to 17, of Fenix Outdoor International AG for the period 
from 1 January 2024 to 30 September 2024. The Board of Directors is responsible for the 
preparation and presentation of these interim condensed consolidated financial statements in 
accordance with IAS 34 “Interim Financial Reporting”. Our responsibility is to express a 
conclusion on these interim condensed consolidated financial statements based on our 
review. 
 
 
Scope of Review 
We conducted our review in accordance with International Standard on Review Engagements 
2410 “Review of Interim Financial Information Performed by the Independent Auditor of the 
Entity”. A review of interim financial information consists of making inquiries, primarily of 
persons responsible for financial and accounting matters, and applying analytical and other 
review procedures. A review is substantially less in scope than an audit conducted in 
accordance with International Standards on Auditing and consequently does not enable us to 
obtain assurance that we would become aware of all significant matters that might be 
identified in an audit. Accordingly, we do not express an audit opinion. 
 
 
Conclusion 
Based on our review, nothing has come to our attention that causes us to believe that the 
interim condensed consolidated financial statements are not prepared, in all material 
respects, in accordance with IAS 34 “Interim Financial Reporting”. 
 
 
   Zurich, 25 October 2024 
Ernst & Young Ltd 
   
Roger Müller  Patrick Bächtold 
Licensed audit expert  Licensed audit expert 
(Auditor in charge)