Anora Group Oyj · OMXHEX:ANORA
Anora Group Oyj — Altia — Q1 2021 Earnings Presentation
23 slides from Anora Group Oyj's earnings presentation, Apr 28, 2021
Slide 1: January-March 2021 results
28 APRIL 2021 January-March 2021 results CEO PEKKA TENNILÄ INTERIM CFO JUHANA JOKINEN
Slide 2: Important information
IMPORTANT INFORMATION The securities referred to in this document in relation to the merger have not been, and will not be, registered under the U nited States Securities Act of 1933, as amended (the “U .S. Securities Act”), or the securities laws of any state of the U nited States (as such term is
Slide 3: Strong sales and profitability development in Q1
Strong sales and profitability development in Q1 Net sales Comparable EBITDA Comparable EBITDA margin Q1 2021 HIGHLIGHTS 71.7 7.7 10.8% (68.2) (5.5) (8.1%) MEUR MEUR • Net sales increased by 5.1%; in constant currencies 3.1% • Comparable EBITDA improved by 40% • Operative cash flow improved • The me
Slide 4: Market development
Market development HI ST ORI CALLY, APPROXI MAT ELY T WO T HI RDS OF CONSUMER PRODUCT SALES COME FROM ST AT E RET AI L MONOPOLI ES Spirits and wine sales volume development in the state retail monopolies Change compared to previous year, % Q1 21 Q1 20 2020 Finland Nordics in total +18.2 +8.9 +17.1 •
Slide 5: Net sales increased despite the restricted sales channels
Net sales increased despite the restricted sales channels Net sales by segment, MEUR Q1 2021 • Net sales increased by 5.1%; in constant currencies 3.1% 5,1% • Restrictions on travel and on-trade continued • Monopoly sales increased 72 • Spirits sales increased, wine impacted by partner portfolio cha
Slide 6: Finland & Exports
Finland & Exports JANUARY-MARCH 2021 The Finland & Exports segment comprises the import, sale and marketing of wine and spirits, and other beverages in Finland and the Baltics, as well as exports and travel retail. Highlights Net sales, MEUR -3, 5% • Net sales declined by 3.5% to EUR 23.0 (23.8) mil
Slide 7: Scandinavia
Scandinavia JANUARY-MARCH 2021 The Scandinavia segment comprises the import, sale and marketing of wine and spirits, and other beverages in Sweden, Norway and Denmark. Highlights Net sales, MEUR Product launches in Q1: tender wins +9, 9% • Reported net sales grew by 9.9% to EUR 24.2 (22.0) million 2
Slide 8: Altia Industrial
Altia Industrial JANUARY-MARCH 2021 The Altia Industrial segment comprises Koskenkorva plant operations, starch, feed component and technical ethanol businesses, as well as contract manufacturing services at Rajamäki. It also includes supply chain operations, i.e. production operations in different
Slide 9: Financials
28 APRIL 2021 Financials INTERIM CFO JUHANA JOKINEN
Slide 10: Barley sourcing
Barley sourcing In Q1, Altia’s use of Barley price development and Altia’s monthly volumes 2007-2021 (January) Finnish grain EUR/tn tn reached 53 (53) 250 30 000 million kilos. 25 000 200 20 000 150 15 000 100 10 000 50 5 000 2007 2009 2011 2013 2015 2017 2019 2021 0 0 January January January Januar
Slide 11: 2021: Positive profitability development
2021: Positive profitability development Quarterly net sales and comparable EBITDA, EUR million 2021: 110 107 • Comparable EBITDA improved by 40.2% or EUR 91 2.2 million to EUR 7.7 (5.5) million 85 81 87 74 19,7 • Key drivers 68 19,0 71 – Finland & Exports, Scandinavia 14,6 13,2 – Strong sales and c
Slide 12: Improved profitability in Scandinavia and Finland & Exports
Improved profitability in Scandinavia and Finland & Exports Comparable EBITDA by segment Finland & Exports EUR million Q1 21 Q1 20 Change % 2020 • Strong monopoly sales and Easter Finland & Exports 3.5 2.8 26.1 19.8 • Good product and channel mix and revenue management initiatives % of net sales 15.
Slide 13: Strong financial position and liquidity situation
Strong financial position and liquidity situation Net cash flow from operating activities, MEUR Gearing, % 58,1 % 59,1 % 57,9 % 33,2 % 24,5 % 19,1 % 20,0 % 6,5 % -2,5 % Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Net cash flow from oper
Slide 14: Concluding remarks and Q&A
28 APRIL 2021 Concluding remarks and Q&A CEO PEKKA TENNILÄ
Slide 15: Sustainability Q1
Sustainability Q1 • New bag-in-box production line at Rajamäki plant enables production of wine bags which are 100% recycble • Launching of wine PET bottles made of 100% recycled material as the first in the Nordics • World’s first regeneratively farmed vodka, Koskenkorva Climate Action, launched in
Slide 16: Forming a leading wine and spirits brand house in the Nordics
Forming a leading wine and spirits brand house in the Nordics MERGER OF ALTIA AND ARCUS Key milestones 29 Sep Announcement of merger plan 23 Oct Prospectus published 12 Nov EGM’s of Altia and Arcus Q2 Conditional approvals of the competition authorities Finland and Sweden received in April Norway ex
Slide 17: Short-term outlook
Short-term outlook • Altia has decided to provide a short-term outlook but no guidance for 2021, due to the uncertainties caused by COVID-19 and the low predictability for the full year 2021. • In the first half of 2021, COVID-19 is expected to impact travel retail, exports and on-trade. The channel
Slide 18: Summary
Summary Altia and Arcus merger Market predictability remains Strong performance in proceeding well - closing low – short-term outlook Q1/2021 expected in H1/autumn 2021 given 28 April 2021 18
Slide 19: Thank you
Next events 18 August: H1 3 November: Q3 Thank you www.altiagroup.com
Slide 20: Appendices
Appendices 28 April 2021 20
Slide 21: Key ratios
KEY RATIOS Q1 21 Q1 20 2020 Net sales, EUR million 71.7 68.2 342.4 Comparable EBITDA, EUR million 7.7 5.5 52.4 % of net sales 10.8 8.1 15.3 EBITDA, EUR million 4.6 5.4 40.3 Comparable operating result, EUR million 3.9 1.1 35.0 % of net sales 5.4 1.6 10.2 Operating result, EUR million 0.7 1.0 22.9 Re
Slide 22: Quarterly net sales and comparable EBITDA by segment
QUARTERLY NET SALES AND COMPARABLE EBITDA BY SEGMENT Net sales by segment EUR million Q1 21 Q4 20 Q3 20 Q2 20 Q1 20 Q4 19 Q3 19 Q2 19 Q1 19 Q4 18 Q3 18 Q2 18 Q1 18 Q4 17 Q3 17 Q2 17 Q1 17 Q4 16 Q3 16 Q2 16 Q1 16 Finland & 23.0 34.4 29.8 29.2 23.8 37.8 31.2 34.7 25.0 39.5 31.8 35.4 27.1 40.7 31.4 35.
Slide 23: Shareholders
Shareholders 31 MARCH 2021 Shareholders Number of shares % of shares 1 Prime Minister’s Office 13 097 481 36.2 2 Ilmarinen Mutual Pension Insurance Company 1 113 300 3.1 3 Varma Mutual Pension Insurance Company 1 050 000 2.9 4 WestStar Oy 684 085 1.9 5 Elo Mutual Pension Insurance Company 500 000 1.