Bokusgruppen Ab · OMXSTO:BOKUS
Bokusgruppen Ab — Q3 2021 Earnings Presentation
14 slides from Bokusgruppen Ab's earnings presentation, Oct 26, 2021
Slide 1: Q3 Interim Report 2021
Q 3 I N T E R I M R E P O RT 2 0 2 1 T U E S D AY 2 6 O C T O B E R MARIA EDSMAN, CEO J A N E J A N G E N F E L D T, C F O
Slide 2: Sharp increase in profit and stronger margins in the third quarter
SHARP INCREASE IN PROFIT AND STRONGER MARGINS IN THE THIRD QUARTER GROSS MARGIN EBITA GROWTH GROWTH +6.9% +19.4% (Q3 2021 VS Q3 2020) (Q3 2021 VS Q3 2020) NET PROFIT NET PROFIT GROWTH 15.9 MSEK +78,0% (Q3 2020: 8.9 MSEK) (Q3 2021 VS Q3 2020) 2
Slide 3: Highlights from the third quarter
HIGHLIGHTS FROM THE THIRD QUARTER The pandemic restrictions, and their impact on our operations, were lifted on 29 September. Customers returned to in-person visits, leading to positive sales growth of 2.8% in stores.GROSS MARGIN GROWTH Market share increase in online channel and digital subscriptio
Slide 4: EBITA growth in all segments
E B I TA G R O W T H I N A L L S E G M E N T S EBITA, MSEK MSEK Quarter Period (Q3 2021) 2021 2020 2021 2020 July-Sept July-Sept Jan-Sept Jan-Sept Net Sales growth, % -4.0% 16.4% 11.4% 9.6% Bokus Online 12.6 EBITA, % 7.1% 4.9% 5.9% 3.3% Akademibokhandeln Net Sales growth, % 20.3% 74.8% 62.5% 71.1% O
Slide 5: Profit & loss summary
P R O F I T & LO S S S U M M A R Y Quarter Period MSEK 2021 2020 2021 2020 Change January- January- Change July-Sept July-Sept September September Net Sales 428.4 426.8 +0.4% 1,224.7 1,169.3 +4.7% Gross margin, % 39.2% 36.8% +2.4 p.p 36.3% 36.3% 0 p.p EBITA 34.4 28.8 +19.4% 15.3 6.8 +124.0% Net prof
Slide 6: Normal seasonal variations with positive trend
N O R M A L S E A S O N A L VA R I AT I O N S W I T H P O S I T I V E T R E N D Net Sales and EBITA (MSEK Q1 2019 – Q3 2021) 595 606 453 462 444 416 427 428 328 334 299 88.2 77.4 21.0 28.8 34.4 0.6 0.8 -2.4 -20.9 -22.7 -16.7 2019 2020 2021 2019 2020 2021 2019 2020 2021 2019 2020 Q1 Q2 Net Sales EBIT
Slide 7: Strong balance sheet and operational cash flow
STRONG BALANCE SHEET AND O P E R AT I O N A L C A S H F LO W Equity ratio Q3 2021 Operational cashflow (MSEK Q4 2019 – Q3 2021) -1 MSEK -13 MSEK 47% 45% (acc) (acc) (31% in Q3 2020) Net debt/Adjusted EBITDA Q3 2021 LTM 0.7x (2.8x in Q3 2020 LTM) 7
Slide 8: Long-term positive trend for Bokus Online
LO N G -T E R M P O S I T I V E T R E N D F O R BOKUS ONLINE Sales growth digital books (% Q3 2021 LTM vs. Q3 2020 LTM) Net Sales Bokus online Number of active customers bokus.com (MSEK 2019 – Q3 2021 LTM) (Million customers Q4 2019 – Q3 2021) +30% +25% +22% 0.957 0.960 0.950 0.923 0.843 0.774 0.805
Slide 9: Rapid growth in Akademibokhandeln Online
RAPID GROWTH IN AKADEMIBOKHANDELN ONLINE In the third quarter, Other products accounted for 5 percent of total sales at Akademibokhandeln.se Net sales Akademibokhandeln Online Share of online sales within (MSEK 2019 – Q3 2021 LTM) Akademibokhandeln (% Q4 2019 – Q3 2021) +197% 12% 84.8 87.3 84.1 64.7
Slide 10: Customers returning to Akademibokhandeln stores
C U S TO M E R S R E T U R N I N G TO Several initiatives during the quarter A K A D E M I B O K H A N D E L N S TO R E S to promote the joy of reading Net Sales Akademibokhandeln Stores Share of Other products of total store sales (MSEK 2019 – Q3 2021 LTM) (% Q4 2019 – Q3 2021 LTM) +3% +3.3 p.p 92%
Slide 11: Trending towards financial targets
T R E N D I N G TO W A R D S F I N A N C I A L TA R G E T S Net sales growth online channels Net sales growth stores EBITA margin (% 2020 – Q3 2021 LTM) (% 2020 – Q3 2021 LTM) (% 2020 – Q3 2021 LTM) 2020 2021 5.1% 36% Q1 LTM Q2 LTM Q3 LTM 33% 26% 4.7% 4.8% 25% 4.5% -10% -13% -15% Q1 LTM Q2 LTM Q3 LT
Slide 12: Outlook for the last quarter
OUTLOOK FOR THE LAST QUARTER Pandemic restriction withdrawal gives positive outlook for the important last quarter. Potential risk for supply disturbances due to post- pandemic effects on global supply chains. Accelerated focus on investments in digital development, e.g. first steps introducing new
Slide 13: Contact details
C O N TA C T D E TA I L S Maria Edsman Jane Jangenfeldt CEO CFO maria.edsman@bokusgruppen.com jane.jangenfeldt@bokusgruppen.com +46768882610 +46706049038 13
Slide 14: This is Bokusgruppen
THIS IS BOKUSGRUPPEN OUR VISION Everyone should experience the joy of reading, every day. OUR MISSION Based on customers’ requirements and preferences, we create physical and digital meeting places and sales channels where we provide guidance and inspiration to encourage people to discover the joy o