Slide 1: Duell Corporation Nine Months and Q3 Financial Report 2024
Duell Corporation Nine Months and Q3 Financial Report 2024 September 2023-May 2024 (1-9) March-May 2024 (Q3) July 3, 2024 Magnus Miemois, CEO Juha Lindroos, Interim CFO Pellervo Hämäläinen, IR
Slide 2: Operational highlights Q3 2024
Operational highlights Q3 2024 Increased own brand awareness supports Duell’s growth strategy Category offering expansion and new 3rd party brands important drivers HALVARSSONS and Winter season Positive trend and LINDSTRANDS SENA intercoms solutions closed with strong market recovery in brand aware
Slide 3: Keeping steady speed in the year's most active quarter
Keeping steady speed in the year's most active quarter Strong growth in Central Europe • Net sales in Q3 was EUR 37.9 million (37.7), Solid net sales resulting in an increase of 0,6% volume in high season quarter • Net sales with comparable currencies increased by 2,7%. • Adjusted EBITA amounted to
Slide 4: Quarterly net sales development 2022-2024
Quarterly net sales development 2022-2024 M€ Quarterly net sales development, M€ Q3 40 37.7 37.9 35.1 • Solid volume development in peak season quarter 34.6 • Net sales amounted to EUR 37.9 million (37.7) 29.9 30 27.2 28.2 • Net sales with comparable currencies 27.1 27.0 25.8 25.5 increased by 2.7%
Slide 5: Quarterly profitability development 2022-2024
Quarterly profitability development 2022-2024 M€ Adjusted EBITA and margin development 2022-2024 4 3.8 30 Q3 • In the third quarter adjusted EBITA 3,2 3.0 25 amounted to EUR 3.2 million (3.8) 3 • Adjusted EBITA margin 8.4% (10.1%) 20 2.1 1.9 10.1% • Gross margin 24.9% (24.7%) 2 1.8 8.6% 15 1.4 8,4%
Slide 6: Quarterly financial position development Q3 2022-2024
Quarterly financial position development Q3 2022-2024 M€ Net debt and leverage development, Q3 2022-2024 x 60 16,0 • Net debt decreased by EUR 21.5 million 51.3 48.6 14,0 • Leverage ratio 4.5x, gradually improving 50 12,0 • Net working capital in Q3 at EUR 57.7 million (61.7) 40 10,0 due to seasonal
Slide 7: Summary of Q3 and 1-9/2024 financials
Summary of Q3 and 1-9/2024 financials Q3 2024 Q3 2023 1-9 2024 1-9 2023 Key figures and ratios FY 2023 (2/2024 (2/2023- (9/2023- 9/2022- (9/2022- EUR thousand 5/2024) 5/2023) 5/2024) 5/2023) 8/2023) Net sales 37,904 37,673 93,073 88,967 118,832 Net sales growth, % 0.6 7.4 4.6 -0.4 -4.2 Net sales gro
Slide 8: New organisation to drive increased focus on performance
New organisation to drive increased focus on performance • Magnus Miemois started as CEO on 1st of June • New organisation and Management Team in place to drive increased focus on performance • Caj Malmsten appointed CFO, starting on 19th of August • Interim CFO, Juha Lindroos continues at Duell unt
Slide 9: Focus areas and outlook for financial year 2024
Focus areas and outlook for financial year 2024 Focus during Q4 2024 Outlook for financial year 2024 (unchanged) • Sales activities until end of summer season • Market uncertainty and weakness will persist in financial year 2024. Overall challenging market situation has lowered • Continue stabilisat
Slide 10: Appendix - Duell in brief
Appendix - Duell in brief 10
Slide 11: A leading Nordic and European powersports aftermarket distributor
A leading Nordic and European powersports aftermarket distributor 119 M€ 3.9% Net sales Adjusted EBITA 9/2022–8/2023 9/2022–8/2023 Key figures* Duell’s established markets Duell’s growth markets • 150,000 SKUs • >550 brands • 600 suppliers • 8,500 active dealers • 4,500 in Nordics Sales office • 4,0
Slide 12: All powersports spare parts, accessories and personal equipment from motorbikes to marine
All powersports spare parts, accessories and personal equipment from motorbikes to marine Technical and spare parts Accessories and personal equipment 12
Slide 13: Vision, mission, values and strategy
Vision, mission, values and strategy 13
Slide 14: Duell's added value in the value chain
Duell’s added value in the value chain For brand owners Duell’s core For dealers • Extensive dealer network • Leading broad brand portfolio • Broad offering of leading brands from • Timely orders, local storage • Strong local sales presence entry-level to high-end products and credibility • Technolo
Slide 15: AO null
140198105 v2 AO null YEARS HQ | Mustasaar T | +358 (0) 20 118 000 E | info@duell.eu | forename.surname@duell.eu W | www.duell.eu HQ | Duell Oyj | Kauppatie 19 | 65610 Mustasaari Offices & warehouses | Finland | Sweden | Norway | Denmark | Netherlands | Germany | France | United Kingdom 15