Slide 1: Duell Corporation Financial Report September 2021 - May 2022 and Third Quarter
Duell Corporation Financial Report September 2021 - May 2022 and Third Quarter 7 July 2022 Jarkko Ämmälä, CEO Pellervo Hämäläinen, IR 1
Slide 2: A leading Nordic and European powersports and bicycle aftermarket distributor
A leading Nordic and European powersports and bicycle aftermarket distributor +29.1% NET SALES GROWTH DUELL’S ESTABLISHED MARKETS DUELL’S ACTIVE MARKETS Tampere 9/2020–8/2021 Frölunda 10.5% Adjusted EBITA 77 M€ (102) NET SALES (PRO FORMA) 9/2020–8/2021 9/2020–8/2021 Veghel, Deventer SALES OFFICE Aro
Slide 3: All powersports accessories from motorbikes to marine
All powersports accessories from motorbikes to marine
Slide 4: We cover all fields of powersports products
We cover all fields of powersports products: apparel, accessories, and parts of ATV/UTV, bicycle, marine, offroad and onroad motorcycles as well as snowmobile. TECHNICAL AND SPARE PARTS 63% 1) PERSONAL EQUIPMENT 37% 1) Break/clutch handling Tires Shock absorbers Helmets Motorcycle boots Protective w
Slide 5: Strong presence in all dealer channels
Strong presence in all dealer channels Sales split by customer type (FY 08/21) E-commerce Retailers Specialty shops % 26% of net 74% Repair and spare parts shops sales Powersports equipment manufacturers
Slide 6: Large distributors are growing and taking market share
Large distributors are growing and taking market share Consolidation and scale benefits will increase the role of large players Fragmented market with few dominating players Market development (EURbn, %)1) Selected players ~6.1 ~6.8 and other large 10-15% distributors2) 15-20% 25-40% Small distribut
Slide 7: Q3 and 9/2021-5/2022 Business update
Q3 and 9/2021-5/2022 Business update 7
Slide 8: Q3: Executing growth strategy in uncertain market conditions
Q3: Executing growth strategy in uncertain market conditions • Organic growth 5.4 % • Significantly lower sales in Net sales grew April (lost of EUR 4 million sales) due by 43.5 % to slowed down consumer demand impacted negatively on net sales in Q3 • Adjusted EBITA margin 8.6 % (13.4 %) • Significa
Slide 9: Net sales grew by 43.5 % and adjusted EBITA improved by 8.4 % in 9/2021-5/2022
Net sales grew by 43.5 % and adjusted EBITA improved by 8.4 % in 9/2021-5/2022 • Significantly slowed down consumer Q3 2022 Q3 2021 FY 2021 demand in April in all markets had Key figures and ratios (9/2021- (9/2020- (3/2022- (3/2021- (9/20- EUR thousand 8/21) negative impact in Q3 5/2022) 5/2021) 5/
Slide 10: Increased uncertainty in the operating environment
Increased uncertainty in the operating environment External factors • Consumer confidence and predictability has reduced due to the economic environment and war in Ukraine • Consumer demand slowed down significantly in April, but recovered back to normal levels in May • The market uncertainty caused
Slide 11: Seasonality is typical in Duell's sales by quarters
Seasonality is typical in Duell's sales by quarters Quarterly net sales development, EUR million • Significantly slowed down 35.1 consumer demand in April 27.2 27.1 decreased sales with 24.5 19.3 EUR 4 million in Q3 15.7 17.3 • First nine months 2022 includes the impact from Q1 Q2 Q3 Q4 Q1 Q2 Q3 202
Slide 12: Duell outlook 2022 and mid-term financial targets
Duell outlook 2022 and mid-term financial targets Target Description Latest audited report Organic net sales “In 2022, Duell expects its net sales growth to be at least Organic net sales growth in Outlook growth in 2022 FY 2021 15%. Organic net sales growth is calculated excluding the 2022 24.1% 15%
Slide 13: Strategic objectives and cornerstones
Strategic objectives and cornerstones Strategic cornerstones and related Key strategic objectives achievements • Geographical market expansion • To become the best partner for dealers and brand • PowerFactory acquisition gives access to the Nordic bicycle parts and accessories owners throughout Euro
Slide 14: Four important acquisitions to drive market expansion
Four important acquisitions to drive market expansion Deal highlights (May 2022) Deal highlights (February 2022) Portfolio of Portfolio of • Strong bicycle position in • Strong offroad position in Benelux, attractive also in the rest of Europe attractive Finland and Sweden brands brands • Access to
Slide 15: Summary of Q3 and first nine months (9/2021-5/2022)
Summary of Q3 and first nine months (9/2021-5/2022) • Market uncertainty and significantly slowed down consumer demand in April impacted negatively to net sales and profitability in Q3 • Duell entered to Nordic bicycle spare parts and accessories market with PowerFactory acquisition • Duell will con
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