Year 2011 turned out to be more
challenging year than initially
anticipated, but we came through
with good results. Sales wise it was
another record year and our profitability
remained close to last year’s
record levels, proving our ability to
perform well even when the times
are more challenging. Our expectations
for 2012 are positive.
Year 2011 marked another record year as our
net sales approached 280 million euro. While the
weather, natural disasters and increased economic
uncertainties together with supply chain
and operative challenges impacted negatively
the performance of some of our units, this was
more than offset by solid performance of the
others. Our truly global presence in the fishing
tackle market is again showing its merits.
The geographical footprint of our operations
continued to expand during 2011. Lure and hook
manufacturing operations started on Batam Island
in Indonesia and new sourcing office was
opened in Taiwan. New distribution companies
were opened in Mexico, Indonesia and Kazakhstan
strengthening our unique distribution network
further.
Our strategic alliance with Shimano in Europe
was deepened through the establishment of
a joint venture distribution company in the UK.
In 2011 we also divested our Chinese gift
manufacturing business. This business, which
became part of the Group back in 2001 through
acquisition of Willtech lure manufacturing,
found now its new home with its major customer
French Pylones SAS.
The grand opening of Peltonen Ski Oy’s new
factory was celebrated this autumn. The modern
facility increases our cross country ski manufacturing
volumes and efficiency. The Finnish
distribution operations also relocated into new
larger premises.
The work to improve the supply chain between
our factories and distribution companies
is gradually bearing fruit and our service levels
to our main customers especially in the USA
were very good. We still need to continue the
work to improve our performance on managing
our inventory levels and this issue is high on the
management agenda during 2012.
This year was no exception when it comes to
the International Game Fishing Association’s
awards for catching world record fishes. Rapala
lures: number one again. Year after year these
awards undisputedly demonstrate that we can
develop and manufacture fishing tackle that
truly catch big fish. I’m confident that also in the
coming seasons we’ll introduce hot new items,
which will continue this tradition.
2011 was another busy year and we could not
have achieved all the great results without our
great people. Thank you all for that! The spirit
and culture within the Rapala Group is something
unique. I’m sure that together with our
partners we will be able to achieve even better
results in 2012.
Our expectations for 2012 are positive. Our
balance sheet is stronger than ever, enabling us
to look at new interesting opportunities and giving
security during challenging times. I have no
reason not to believe that 2012 will be another
good year for us. We’ll all work hard for that all
around the world.
Year 2011 turned out to be more
challenging year than initially
anticipated, but we came through
with good results. Sales wise it was
another record year and our profitability
remained close to last year’s
record levels, proving our ability to
perform well even when the times
are more challenging. Our expectations
for 2012 are positive.
