All Rapala articles
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ArticleRapala VMC eyes operating profit return in FY24
After a challenging FY23, where sales fell by double-digits in all its key geographic markets, Rapala VMC intends to return a full-year comparable operating profit this year, helped by retail inventory levels that are finally returning to normal levels. Other factors projected to bolster results for the Finnish outdoor group ...
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News briefsRapala buys remaining shares in DQC International, takes over 13 Fishing
Rapala VMC has acquired James Coble’s remaining 40 percent stake in DQC International, the owner of the 13 Fishing rod and reel brand. The Finnish company, which has been distributing 13 Fishing rods and reels outside the US for almost four years, had increased its stake in DQC to 60 ...
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News briefsRapala plans to issue securities
Finnish fishing tackle manufacturer Rapala VMC is considering issuing up to €25 million worth of securities to strengthen its balance sheet and create financial flexibility while at the same time seeking to reduce expenses and optimize inventory levels. The company pointed out that this move will open up its financing ...
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News briefsGrundéns appoints Nicolas Cederström Warchalowski as CEO
Fishing apparel and footwear manufacturer Grundéns has hired Nicolas Cederström Warchalowski as its new CEO, effective Sept. 11. Warchalowski most recently served as the CEO of sport fishing company Rapala, a role he held since March 2020. A Swedish national, Warchalowski has more than 25 years of leadership experience in ...
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News briefsRapala anticipates significant decline in FY23 operating profit
The fishing equipment company, which completed a restructuring of its Helsinki headquarters this month and welcomed back former COO Lars Ollberg as CEO in May, is now forecasting its full-year comparable operating profit to be “significantly below” its FY22 level. Rapala blamed the expected annual profit shortfall on persistent ...
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News briefsLars Ollberg returning to Rapala as CEO
Fishing equipment maker Rapala VMC Corp. is bringing Lars Ollberg back to its senior management team, hiring the company’s former chief operating officer as its new CEO starting May 1. Additionally, the Finnish company has appointed Cyrille Viellard as Deputy CEO and named Jean-Philippe Nicolle, its current EVP of Southern ...
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News briefsRapala VMC publishes sustainability report 2022
Finland-based fishing tackle company Rapala VMC, owner of the Rapala, VMC, Sufix, Storm, Blue Fox, Luhr Jensen, Williamson, Dynamite Baits, Mora Ice, StrikeMaster, Marttiini, Peltonen, 13 Fishing and Okuma brands, has released its latest sustainability report. The report sums up the company’s achievements over the last four years. In 2020, ...
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News briefsRapala’s CFO to leave the company this summer
The chief financial officer of Finland-based fishing tackle company Rapala VMC Corporation, Jan-Elof Cavander, will leave his position on June 21, 2023, to pursue new challenges outside Rapala. The company, led by chairman, president and CEO Louis d’Alançon, has not yet announced a successor. Rapala’s main production facilities are ...
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ArticleRapala issues profit warning after poor weather hits winter sales
Fishing equipment maker Rapala has issued a profit warning after reporting a fall in 2022 earnings and sales due to poor winter weather in the northern hemisphere and high inventories.
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News briefsRapala's president and CEO resigns
The Finland-based fishing tackle company Rapala VMC Corporation has announced that the brand’s board of directors and Nicolas Cederström Warchalowski, who has been the company’s president and CEO since March 2020, have mutually agreed that he will resign from his role, effective immediately. The board has appointed Rapala’s chairman Louis ...
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News briefsRapala to consolidate lure production in Estonia
Rapala plans to move all of its lure bait production team to Pärnu, in southwestern Estonia, by the end of 2023. The move will affect 90 employees. The Finnish-based fishing tackle company currently produces lures at two factories, one in Finland and one in Estonia. The majority of its lures ...
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News briefsRapala VMC Corp. issues FY22 profit warning
Rapala VMC Corp., citing a short open water fishing season this year and strong de-stocking at retail, is forecasting a significant drop in annual operating profit against the €32.1 million it reported for the financial year 2021. The Finnish-based fishing tackle company also said abnormal weather on all key continents, ...
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ArticleRapala VMC H1 results sink on market challenges
Rapala VMC suffered a 42 percent decline in comparable first-half operating profit to €15.5 million from €26.5 million as total revenues dipped by 7 percent to €148.4 million from €159.6 million. First-half net profit slid 52 percent to €8.7 million from €18.1 million. Period end inventories were up nearly 60 ...
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News briefsRapala’s COO Lars Ollberg retires
Rapala VMC will bid farewell to company veteran Lars Ollberg this month after 44 years with the Finnish-based fishing tackle company. Ollberg began his Rapala career in 1978 as a sales representative and subsequently has also worked in marketing and sourcing positions at many of the company’s business units around ...
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News briefsRapala VMC reels in 2022 outlook
Rapala VMC, the Finnish-based fishing tackle firm, is now forecasting its full-year 2022 comparable operating profit to be below what it was in 2021. The crisis in Ukraine, a cold and late spring in the Northern hemisphere and faster normalization in the U.S. after the Covid-19 pandemic are the drivers ...
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News briefsRapala begins buyback of its own shares
The board of directors of the Finnish tackle company Rapala VMC Corporation has decided to start buying back a maximum of 250,000 of the company’s own shares, representing approximately 0.64 percent of all shares, in accordance with the authorization granted by Rapala’s AGM on March 25, 2021. The maximum number ...
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ArticleNew anglers help Rapala reel in strong H1 sales rise
Finnish tackle company Rapala VMC reported a sharp rise in first-half net sales driven by strong demand for fishing gear from new anglers and faster-than-expected implementation of its restructuring strategy. Sales for the six months to June 30 increased 36 percent to €159.6 million as fishing’s popularity as a ...
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News briefs
Rapala VMC completes buy-back of shares
Rapala VMC Corp. communicated on March 25 that its board had decided to start buying back a maximum of 100,000 of Rapala VMC’s own shares, with a maximum of €700,000. The buy-back of its own shares started on April 1st and ended on May 10. During this period, the ...
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ArticleRapala bounces back in the second half of 2020
The Finnish manufacturer of fishing lures had a difficult start in 2020, ending the first six months with a net loss of €3.8 million due to the impact of lockdowns. But in the second half, business picked up for Rapala VMC, as fishing gained popularity as an activity that is ...
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News briefs
Rapala acquires Okuma brand and associated property rights in Europe and Russia
Rapala VMC and Okuma Fishing Tackle have agreed that Okuma will transfer to Rapala its European and Russian trademarks and associated intangible assets against consideration of $8 million. The two companies have also agreed to conclude a supply agreement for the area. Okuma will become the flagship brand ...
