Byggmax Group Ab · OMXSTO:BMAX
Byggmax Group Ab — Q4 2021 Earnings Presentation
23 slides from Byggmax Group Ab's earnings presentation, Jan 26, 2022
Slide 1: Q4 Report 2021
Q4 Report 2021 January 26, 2022 Mattias Ankarberg, CEO Helena Nathhorst, CFO
Slide 2: Q4 2021: Strong Finish to Record Year
Q4 2021: STRONG FINISH TO RECORD YEAR — Q4net sales increased 7% (29%) to 1,301m (1,222m) o Continued growth momentum despite extreme comps o Continued market share gains in a stabilizing market o Like-for-like sales decreased -6% (+28%) o E-com accounted for 18% of Group sales - Gross margin at las
Slide 3: Key Events
KEY EVENTS — Store portfolio upgraded at record pace during the quarter, ending the year with 68% (39%) of portfolio as Store 3.0 — 1new store opened in Q4 2021 — Share buy-back program of SEK 200m completed BYGGMAX
Slide 4: Clear and Leading Discount Position
CLEAR AND LEADING DISCOUNT POSITION Recognized by independent surveys for price and quality £2 Wiss Mitta Verified Quality & Performance “HAR FINNS SVERIGES BILLIGASTE TRADACK” BYGGMAX ASTON BUAU Ey Unders8kningen publicerades pi aftonbladet.se | april 2021. VILKEN BYGGHANDEL UPPLEVER DU HAR LAGST P
Slide 5: Market Share Gains Continued
MARKET SHARE GAINS CONTINUED Percent Q4 2021 FY 2021 2020: Nordic B2C DIY mkt +20% YX Bygematerialhandlarna VIRKE 12 Q4 2021: Market decline vs 2020, stabilizing at new level vs 2019 - “Stay home” effect faded as pandemic restrictions removed, negative weather effect vs. last year’s mild autumn O —
Slide 6: Growth Initiatives Continued to Deliver
GROWTH INITIATIVES CONTINUED TO DELIVER Store upgrades +6% per “store 3.0” - Store 3.0 at 68% (39%) of portfolio end Q4 - Addca 6% sales per store e-commerce -9% (+60%) a4 2021 - Byggmax branded e-com sales -9% despite extreme comps (+60%) - Very strong e-com growth in store assortment products cont
Slide 7: Byggmax Stores Enable Faster E-com Growth
BYGGMAX STORES ENABLE FASTER E-COM GROWTH Byggmax branded e-com sales almost as LY despite extreme comp’s and supply challenges Byggmax branded e-com sales -9% Q4 2021 on back of +60% same period LY Continued very strong growth in store assortment products, both collect@store and home delivery Total
Slide 8: Store Upgrades Generates ca 6% Sales per Store
STORE UPGRADES GENERATES CA 6% SALES PER STORE Mithicese Small town format Regular format (incl. Garden) Large format (& large Garden) Upgraded “3.0” version “Store 3.0” launched Q4 2018 Upgraded “3.0” version launched 2020 Upgrades ongoing launched 2020 Store 3.0 — more product categories and impro
Slide 9: Store Upgrades at Record Pace
STORE UPGRADES AT RECORD PACE Byggmax store portfolio 180 181 180 7 88 175 161 161 167 169 169 151 133 ng 129 73 27 82 3 10 | 390 43 «46 51 °° —_m 1993 2000 2005 2010 2015 2016 2017 2018 2019 Qi G2 G3 Q4 QI a2 Q@3 a4 2020 2021 123 Number of 3.0 stores = Number of other stores Store 3.0 now 68% of po
Slide 10: Strong Performance in Recently Acquired Right Price Tiles
STRONG PERFORMANCE IN RECENTLY ACQUIRED RIGHT PRICE TILES Norwegian founder led discount concept with long history of profitable organic growth - Founded in 2005 with first store in Oslo -— Modern quality tiles and accessories at the best prices -— Offer complemented by bathroom products and floorin
Slide 11: Momentum Also for Skanska Byggvaror
MOMENTUM ALSO FOR SKANSKA BYGGVAROR Strong end to record year, with sales in the fourth quarter almost in line with last year For the full year, sales increased 10 percent and profitability continued to improve Order intake in the fourth quarter almost on par with last year’s very high level Focus f
Slide 12: Sales Development Q4
SALES DEVELOPMENT Q4 Byggmax Skanska Byggvaror Share of Byggmax Group sales 91 A% 8.6% Q4 2021 Sales development 7A% -3.8% Q4 2021 vs. 2020 LFL Acquisition New stores LFL -5.6% 9.6% 2.3% -5.5% — Continued growth momentum in the quarter despite extreme comp Total 100% 6.5% LFL Currency -5.6% 1.3% — A
Slide 13: Sales Development 2021
SALES DEVELOPMENT 2021 Share of Byggmax Group sales 2021 Sales development 2021 vs. 2020 Byggmax Skanska Byggvaror Total 90.6% 9.4% 100% 12.5% 9.5% 12.4% LFL Acquisition New stores LFL LFL Currency 5.0% 4.5% 3.3% 8.7% 5.4% 0.5% Continued growth momentum and market share gains in a stabilizing market
Slide 14: P&L Q4 2021
P&L Q4 2021 SEKM 2021 2020 Net sales 1301 1222 Other operating income 10 4 Total revenue 1311 1227 Cost of goods sold -849 -798 Other external costs and operating expenses “115 -79 Personnel costs 193 -175 Depreciation and amortization of tangible assets 129 -109 Total operating expenses -1285 -1162
Slide 15: P&L 2021
P&L 2021 SEKM 2021 2020 Net sales 7645 6801 Other operating income 25. 26 Total revenue 7671 6 827 Cost of goods sold -5 038 -4584 Other external costs and operating expenses -481 -400 Personnel costs -782 -707 Depreciation and amortization of tangible assets -474 -431 Total operating expenses -6776
Slide 16: Strong Cash Flow to Fund Growth and Shareholders Return
STRONG CASH FLOW TO FUND GROWTH AND SHAREHOLDERS RETURN Net debt Cash flow from operating activities 1500 1000 1000 500 500 | | ° 2019 2020 2021 ° 2019 2020 2021 Strong balance sheet with a net debt amounting to SEK 804 M excluding IFRS16, to be compared to a net debt position of SEK 467 M at year-e
Slide 17: Distributing Funds to Shareholders
DISTRIBUTING FUNDS TO SHAREHOLDERS Share buy back program of SEK 200m completed Q4 2021 — 2374 000 shares repurchased, equivalent to 3.9% of outstanding shares — Intention that repurchased shares are withdrawn through a reduction in the share capital (AGM decision) Board of Directors propose a divid
Slide 18: Performance vs. Financial Targets
PERFORMANCE VS. FINANCIAL TARGETS Targets FY 2021 Comment Sales SEK 10bn 2025 SEK 7.6bn SEK 6.8bn FY 2020 RTM EBITA 7-8% 11.7% 10.4% FY 2020 margin RTM Net debt / <2.5x 0.8x 0.6x Q4 2020 EBITDA RTM EBITDA, ex. IFRS16 Dividend 50% 35% SEK 2.75 per share Share of net income +200m buy-backs Co2 -70% 20
Slide 19: Ready for 2022
READY FOR 2022 1. DIY market stabilizing at a higher level vs. before pandemic 2. Byggmax modern discount concept takes a lot of market share - Byggmax Group’s sales +45% 2021 vs 2019, vs market +20% - Confirms strength of our modern discount concept 3. We have a larger and successful footprint: in
Slide 20: Moving Forward: Clear Focus and Positive Outlook
MOVING FORWARD: CLEAR FOCUS AND POSITIVE OUTLOOK 20 Continued focus on proven growth initiatives also 2022 Focus remains on building out Byggmax modern discount concept through our proven growth initiatives that all have much more to give — Store upgrades at record pace also Q1 2022 — Improve our e-
Slide 21: Save the Date
21 SAVE THE DATE — INVESTOR UPDATE One hour investor update on strategic development and growth journey ahead Save the date — digital event March 28, 2022 Details will follow separately BYGGMAX
Slide 22: Byggmax logo
Slide 23: Slide 23