Slide 1: Nimbus Group Q2 report
Nimbus Group Q2 report 17 July 2024 1
Slide 2: Today's Presenters
Today’s Presenters Jan-Erik Lindström Rasmus Alvemyr CEO CFO 2
Slide 3: Business update second quarter 2024
Business update second quarter 2024 Sales amounted to 623 mSEK (756), drop by 18% EBITA 45 mSEK (83), the difference mainly due to temporary effects in Finnish operations and EdgeWater The market in Europe weaker than anticipated (-25%) Press event held for the new 495 Coupe, positive feedba
Slide 4: This is Nimbus Group
This is Nimbus Group Founded in 1968 Long history of international trade True house of well-known brands 2022, June - Own establishment in North America 2023, May – Acquisition of EdgeWater Power Boats (enabling local US production) 2024, first US produced Nimbus boat in Q2 2024, June
Slide 5: Order book development
Order book development Order book amounted to 508 (L/Y 1 103) SEKm Q2-23 peak volumes attributable to initial orders Orderbook 1 241 from new dealers and acquisition of EdgeWater 1 139 1 103 1 0511 051 960 930 953 946 Indications of pre-pandemic orderbook pattern with 854 731 759 789 708 short
Slide 6: Sales development per market
Sales development per market North America dropped by -14 mSEK driven by EdgeWater. Nimbus sales was flat on a declining market. Weak EdgeWater sales amounting to 34 mSEK due to temporarily reduced production Continued soft market in the Nordic countries, -15%, but soft positive signs in order
Slide 7: Sales development
Sales development Net sales in Q2 decreased by -18% Y/Y, driven by softer demand for both premium and value boats Organic growth -18% Distribution of sales in the second quarter, SEK Million Sales development 500 +/- 0 % SEKm 450 400 436 350 300 338 320 250 285 1898 1938 -18% 1751 1800 1806 200
Slide 8: EBITA Development
EBITA Development EBITA margin in Q2 down to 7.2% (L/Y 11.0%), affected by: – Compared with L/Y negative drop from EW production (-13 mSEK) and value boats in Finland (-25 mSEK) – EBITA effected by lower sales volume – GM levels for premium boats continued to improve SEKm 90 11,0% 12% 250,00 14% 1
Slide 9: CF & Working Capital
CF & Working Capital NWC in Q2 amounted to 548 mSEK which is a decrease by 78 mSEK since Q1 In relation to L/Y the increased level mostly refers to boats in transit to US Soft market in particularly Europe has caused higher inventory levels than expected due to less “in-for-out” sales in the q
Slide 10: Financial Targets
Financial Targets Growth >10% EBITA margin 10% Capital structure - No Financial debt Dividend policy 30% 10
Slide 11: Q&A
Q&A Financial calendar: Q3 report 25th October 11