Orthex Oyj · OMXHEX:ORTHEX
Orthex Oyj — FY2024 Earnings Presentation
26 slides from Orthex Oyj's earnings presentation, Mar 12, 2025
Slide 1: Financial Statements Release January–December 2024
FINANCIAL STATEMENTS RELEASE January – December 2024 12 March 2024 Alexander Rosenlew, CEO Saara Mäkelä, CFO Hanna Kukkonen, CMSO
Slide 2: Content
Content 1. Introduction to Orthex 2. January-December 2024 in brief 3. Strategy 4. Financials 5. Q&A Q4 FINANCIAL REPORT | JANUARY–DECEMBER 2024 | 12 MARCH 2025
Slide 3: A leading Nordic houseware company with strong brands and sustainable products
A leading Nordic houseware company with strong brands and sustainable products 8 sales organisations >40 customer countries 3 factories (incl. warehouses) >90% own brands ~300 employees (FTE) Sustainability focus
Slide 4: Mission to make everyday life easier
Mission to make everyday life easier STORAGE KITCHEN HOME & GARDEN (69% of sales1)) (21% of sales1)) (10% of sales1)) Functional and award-winning design Long-lasting high-quality products Forerunner in sustainability ~ 10% of sales from new launches 1) Invoiced sales split by product category Q1-Q4
Slide 5: January-December 2024 in brief
JANUARY-DECEMBER 2024 IN BRIEF Financial statements release January–December 2024
Slide 6: January–December 2024
January–December 2024 Net sales Orthex’s net sales increased by 4.4% to EUR 89.7 million (85.9). In constant currency, net sales grew by 4.3%. Solid growth in Europe outside the Nordics Profitability Adjusted EBITA was EUR 10.2 million (10.9) Adjusted EBITA margin decreased to 11.4% from 12.
Slide 7: Q4 2024: Solid performance in a sluggish market
Q4 2024: Solid performance in a sluggish market Net sales and Invoiced sales Net sales increased by 2.0% to a new quarterly record of EUR 23.9 million (23.4) Constant currency net sales growth was 2.2%. Record invoiced sales of EUR 5.9 million (5.5) outside the Nordics delivering 6.5% growth
Slide 8: Q1-Q4/2024: Stable sales development
Q1-Q4/2024: Stable sales development Net sales Net sales increased by 4.4% to EUR 89.7 million (85.9) Invoiced sales increased by 4.9% and totalled EUR 92.3 million (88.0) Adjusted EBITA Adjusted EBITA was EUR 10.2 million (10.9) Adjusted EBITA margin was 11.4% (12.7) Net debt to adjusted EB
Slide 9: Invoiced sales by geography
Invoiced sales by geography Invoiced sales by geography quarterly, EUR million Invoiced sales by geography, EUR million 20 18.4 18.5 80 68.7 71.1 18 70 16 60 14 12 50 10 40 8 30 5.4 5.7 20.3 6 18.5 20 4 2 10 0.1 0.2 0.8 0.9 0 0 Nordics Rest of Europe Rest of the world Nordics Rest of Europe Rest of
Slide 10: Invoiced sales by product category
Invoiced sales by product category Invoiced sales by product category quarterly, EUR million 20 18.6 Invoiced sales by product category, EUR million 17.7 18 70 63.6 16 60.0 60 14 12 50 10 40 8 6 4.9 4.4 30 4 18.6 19.3 20 1.4 1.4 2 9.4 9.4 0 10 Storage Kitchen Home & Garden 0 10-12/2023 10-12/2024 St
Slide 11: Strategy
STRATEGY Financial report January-December 2024
Slide 12: Clear growth strategy to deliver objectives
Clear growth strategy to deliver objectives 4 Market consolidation #1 storage 3 brand in 2 Europe 1 Accelerating Accelerating growth in the growth through international the online retail markets through channel ~€90m Solid actions to strong customer ~€86m keep winning collaboration A leading ~€84m i
Slide 13: Growth through strong in-store visibility
Clear category strategy focusing on storage Growth through strong in-store visibility OBI Germany Brico Pro Monaco Bauhaus Denmark Citygross Sweden Motonet Finland > 500 trucks in Europe in 2024 > 500 in-store shelf implementations Q4 FINANCIAL REPORT | JANUARY–DECEMBER 2024 | 12 MARCH 2025
Slide 14: Sustainability
Showing the way in sustainability Sustainability Circular Economy Green Deal Orthex announced in December that it has joined the Circular Economy Green Deal. The Circular Economy Green Deal is a voluntary strategic commitment shared by companies, municipalities, regions, sectoral organisations
Slide 15: Strategy in Action - Maintain a high innovation rate
Maintain a high innovation rate Strategy in Action - Maintain a high innovation rate Q4 FINANCIAL REPORT | JANUARY–DECEMBER 2024 | 12 MARCH 2024
Slide 16: Financials
FINANCIALS Financial report January–December 2024
Slide 17: Net sales quarterly and full-year 2024
Net sales quarterly and full-year 2024 Net sales quarterly, EUR million Net sales YTD, EUR million 26 95 23.9 24 23.4 89.7 22.8 90 88.7 22.0 21.9 22 21.0 85.9 20.5 20.1 84.0 85 20 18 2023 80 2024 75.9 16 75 14 70 12 10 65 Q1 Q2 Q3 Q4 1-12/2020 1-12/2021 1-12/2022 1-12/2023 1-12/2024 In Q4 2024, th
Slide 18: Profitability quarterly and full-year 2024
Profitability quarterly and full-year 2024 Adjusted EBITA quarterly, EUR million Adjusted EBITA YTD, EUR million 4.0 3.5 14 12.9 3.5 3.0 12 11.0 10.9 2.9 2.9 10.2 3.0 2.8 10 2.4 2.5 2.1 8 2.0 2023 1.6 6 5.5 2024 1.5 4 1.0 2 0.5 0 0.0 1-12/2020 1-12/2021 1-12/2022 1-12/2023 1-12/2024 Q1 Q2 Q3 Q4 Ad
Slide 19: Development of raw material price indexes
Development of raw material price indexes Normal fluctuation in index prices during Q4 The cost inflation in Europe increases the price pressure on raw material manufacturers Raw material suppliers are balancing their capacity to defend prices Geopolitical uncertainty might affect import and
Slide 20: Investments & net debt
Investments & net debt Net debt, EUR million & Leverage Investments in tangible and intangible assets, EUR million 45 3.0 1.4 40 1.2 2.5 1.2 1.1 35 2.4 1.0 1.0 0.9 30 2.0 2.0 0.8 0.8 25 0.8 1.5 1.6 1.5 20 1.4 1.4 0.6 1.3 1.3 0.6 0.5 15 1.0 0.4 10 0.5 0.2 5 - - - Q1 Q2 Q3 Q4 Q1 2023 Q2 2023 Q3 2023 Q
Slide 21: Long-term financial targets
Long-term financial targets Target Description Latest reported SALES Total growth of >5% “An over time annual organic net sales 4.4% total growth to exceed 5 per cent on a Group level, GROWTH Outside Nordics >10% and 10 per cent outside the Nordic region” 10.0% outside Nordics* “Improving EBITA marg
Slide 22: Reporting dates 2025
Reporting dates 2025 Orthex will publish its financial reports in 2025 as follows: 15 May 2025: Interim report January–March 2025 21 August 2025: Half-year financial report January–June 2025 13 November 2025: Interim report January–September 2025 The Annual and Sustainability Report 2024 will
Slide 23: Summary
SUMMARY STABLE SALES INVESTMENT IN NEW PRODUCTS COST PRESSURE GROWTH AND STORE PRESENCE
Slide 24: Q&A
Q&A www.investors.orthexgroup.com
Slide 25: Key Figures
Key Figures Q4 FINANCIAL REPORT | JANUARY–DECEMBER 2024 | 12 MARCH 2025
Slide 26: Practical is Beautiful
orthex” Practical is Beautiful