Nimbus Group Ab · OMXSTO:BOAT
Nimbus Group Ab — Q2 2021 Earnings Presentation
16 slides from Nimbus Group Ab's earnings presentation, August 2021
Slide 1: A sizable step forward in Q2 2021
Nimbus group Q2 report 2021 A sizable step forward in Q2 2021 1
Slide 2: Today's presenters
Today’s presenters Jan-Erik Lindström Rasmus Alvemyr CEO CFO 2
Slide 3: Highlights of the second quarter 2021
Highlights of the second quarter 2021 • Sales increased by 35,9 % to 656,5 Mkr (482,9) • Sales to a larger extent by own dealers (61 % vs 41 %) • EBITA amounted to SEK 113,4 million (77,4) • EBITA margin up to 17,3 % (16), LTM • After deliveries the order book is now SEK 731 million (854 million 1st
Slide 4: The acquisition of the Marine Store group, May 17
The acquisition of the Marine Store group, May 17 • Interesting boating district • Three locations in the Stockholm area. Norrtälje, Bergshamra and Nynäshamn. • 21 employees • Net sales in 2020 SEKm +300 • Well reputed dealer and largest dealer I Sweden • Today no sale of Nimbus group brands • Purch
Slide 5: Why invest in Nimbus – a reminder
Why invest in Nimbus – a reminder 1 Strong underlying market with several fundamental drivers 2 True house of brands with strong and distinctive brand portfolio Attractive position in value chain with opportunities to further improve 3 dealership offering and develop aftermarket services Asset light
Slide 6: This is Nimbus Group
This is Nimbus Group • Founded in 1968 • Long history of international trade • Wellknown Scandinavian brands • 2012 reconstructed by new owners R12 • 2018 acquired Alukin • 2019 acquired Bella Veneet • 2021, Feb 09 listed on Nasdaq First North • 2021, May 17 acquisition of Marine Stores 6
Slide 7: Today a true house of brands – for the dealers' sake
Today a true house of brands – for the dealers’ sake Model examples Share of Group new 51% 15% 13% 9% 6% 5% 2% boat sales Serving a growing market Technical development Aging boat fleet Increased popularity of “Staycation” Overall wealth is increasing 7
Slide 8: Asset light production platform
Asset light production platform Production facilities Internal production Increase variable Production Footprint Outsourced production share of cost base efficiencies Cost variability based on days Hulls to be more standardised to reduce cost – three months to remove significant share of cost Crucia
Slide 9: Our order book record high for this time of the year
Our order book record high for this time of the year SEKm • 2:nd quarter orderbook decreased by 14 % from the first quarter to SEK 731 million. • The equivalent nr in 2020 Q2 was SEK 189 million • Prepayments amounts to 14 % of the orderbook value 854 731 708 502 386 189 Q4-19 Q2-20 Q3-20 Q4-20 Q1-2
Slide 10: Strong sales development
Strong sales development SEKm Other; 4% • Second quarter strong in many aspects. • Europe coming back from a weak year • Demand from north America continue to grow Europe; 16% • Sweden and Nordic still growing – with a larger part of own dealers • The acquisition of Marine Store adds value both in t
Slide 11: Ebita on a steady increase
Ebita on a steady increase 140 9,6% 10% 120 7,8% 100 8% 80 5,7% 6% 4,7% 60 4% 40 SEKm 2% 20 43 72 85 121 77 113 0 0% 2019 2020 Q1 21 12m Q2 21 12m Q2 20 Q2 21 EBITA EBITA margin 11
Slide 12: Working capital
Working capital SEKm 361 • NWC / LTM sales in Q2 < 0 328 299 281 266 239 210 169 166 -32 Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 q2-21 12
Slide 13: Financial targets
Financial targets FINANCIAL TARGETS Q2 2021 Growth >10% 37% (YTD) EBITA margin 10% 9,6% (LTM) Capital structure No financial debt No financial debt Dividend policy 30% n.a. 13
Slide 14: 2021 onwards – an exciting journey ahead
2021 onwards – an exciting journey ahead Illustrative 5 Value accretive acquisitions and forward 4 integration Increase presence in North America 3 Improve aftermarket offering and 2 presence Expand and densify dealership 1 network in Europe Development of current offering and organisation Today Fut
Slide 15: Ownership in Nimbus 20210731
Ownership in Nimbus 20210731 Ägare Antal aktier Värde Kapital 1 R12 Kapital Holdco AB 6 042 996 419 988 222 31,2% 2 Håkan Roos (RoosGruppen) 1 942 307 134 990 337 10,0% 3 ODIN Fonder 1 600 000 111 200 000 8,3% 4 Fort Cambridge Investments S.A. 1 289 928 89 649 996 6,7% 5 Handelsbanken Fonder 1 218 8
Slide 16: Q & A
Q&A Next report : Q3 2021 November, 23 16