Slide 1: Investor presentation Q4 2023/24
Investor presentation Q4 23/24 Investor presentation Q4 2023/24 1
Slide 2: Flügger at a glance
Investor presentation Q4 2023/24 Flügger at a glance The figures in this presentation are continuing operations (i.e. excl. recent divestment) unless stated differently Key L12M figures Q4 2023/2024 Flügger’s business model Revenue mDKK EBIT mDKK Production Sales channels Customers Own stores 2.208
Slide 3: Q4 23/24 highlights: strong finish to the year with revenue growth of +10%
Investor presentation Q4 2023/24 Q4 23/24 highlights Strong finish to the year with revenue growth of +10% and EBIT improvement of 37mDKK Revenue (mDKK) Gross margin (%) EBIT (mDKK) (% margin) +10% +3.8pp +37 567 51,3 517 47,5 20 (3,5%) -17 (-3,3%) Q4 22/23 Q4 23/24 Q4 22/23 Q4 23/24 Q4 22/23 Q4 23/
Slide 4: Q4 23/24 segments – Positive organic growth across segments
Investor presentation Q4 2023/24 Q4 23/24 segments – Positive organic growth across segments. EBIT improvement in Segment 1 drove earnings well ahead of LY Segment 1 (Flügger) Segment 2 (DIY) Segment 3 (Eskaro Ukraine) mDKK Q4 23/24 YoY mDKK Q4 23/24 YoY mDKK Q4 23/24 YoY Revenue 433 +8% Revenue 110
Slide 5: Revenue increased +6% organic growth in 23/24, partly offset by negative currency
Investor presentation Q4 2023/24 Revenue increased +6% organic growth in 23/24, partly offset by negative currency effect of 2% Revenue development (mDKK) Revenue effects YTD April (mDKK) Revenue Revenue, LTM Revenue Revenue, LTM -2% 6% 4% 2.208 700 2.400 650 2.100 600 550 96 1.800 500 2.130 1.500 4
Slide 6: Improvement in EBIT driven by a gradual normalization of cost levels
Investor presentation Q4 2023/24 Improvement in EBIT driven by a gradual normalization of cost levels over the year in combination with price increases EBIT development (mDKK) EBIT effects 2023/24 (mDKK) EBIT EBIT, LTM EBIT EBIT LTM 3 150 250 14 200 33 7 68 100 150 100 50 50 0 0 -50 65 -100 -50 -150
Slide 7: Flügger Group has slowly lost revenue in the Nordics over the last 10 years
Investor presentation Q4 2023/24 Flügger Group has slowly lost revenue in the Nordics over the last 10 years, whilst growth has been achieved in Poland/other and via acquisitions Total revenue development by market from 2013/14 – 2022/23 (DKKm) Nordics1 Emerging Acquisitions 2 CAGR (%), 2,520 2,550
Slide 8: Flügger Organic
Flügger Organic STRATEGIC ASPIRATION Being the preferred choice of painters and quality-oriented consumers by offering sustainable and color-inspiring solutions STRATEGIC PRIORITIES NORDICS BRAND INTERNATIONAL Win core segments and Leverage and build Scale proven playbook expand market reach brand
Slide 9: Selected ESG targets and status as part of the overall strategic direction
Investor presentation Q4 2023/24 Selected ESG targets and status as part of the overall strategic direction Sustainability focus areas and key selected targets Selected target ‘26/27 Current achievement 1) ’23/24 83% 100% environmental 90% eco-labelled ’22/23 82% ReColor Paint labelled paint by 2030
Slide 10: Inventory and NWC reduction and NIBD below LY
Investor presentation Q4 2023/24 Inventory and NWC reduction and NIBD below LY Net working capital (mDKK) Financial solidity (mDKK) WC Working Capital Working Capital / Ratio Ratio% NIBD NIBD1) NIBD / EBITDA NIBD/EBITDA 600 20% 500 9x 8x 18% 400 500 7x 16% 300 6x 14% 200 5x 400 12% 100 4x 3x 300 10%
Slide 11: Improved earnings in continuing operations LTM drives price/earnings ratio
Investor presentation Q4 2023/24 Improved earnings in continuing operations LTM drives price/earnings ratio Price/earnings development Share price development incl. reinvested dividends P/E, L12M Accumulated dividend Dividend/share proposed Stock price, ultimo Incl. discontinued operations Incl. dis
Slide 12: Share price development
Investor presentation Q4 2023/24 Share price development Flügger’s share price development Flügger’s relative share price development (indexed) Share price Share price (DKK) Volume (# of shares) Price indexed Flügger 800 280 Akzo Nobel PPG 700 240 Sherwin Williams 600 200 500 160 400 330 120 300 80
Slide 13: 2024/25 Outlook & Financial guidance
Investor presentation Q4 2023/24 2024/25 Outlook & Financial guidance 2024/25 Outlook and priorities Financial guidance 2024/25 The outlook for the future is cautiously optimistic with expectations of continued normalizing cost levels Flügger Group 2024/25 priorities 1 Win small- & medium-sized pa
Slide 14: Thank you for listening
Thank you for listening Please contact IR@flugger.com for any further questions or visit flugger.com/investor 14 14