Nobia Ab · OMXSTO:NOBI
Nobia Ab — Q2 2021 Earnings Presentation
13 slides from Nobia Ab's earnings presentation, 2021
Slide 1: Q2 2021 Results Presentation
Q2 2021 Results Presentation Jon Sintorn, CEO Kristoffer Ljungfelt, CFO
Slide 2: Highlights Q2
Highlights Q2 • Strong rebound in sales and earnings - Group sales in line with 2019, with Nordic and Central Europe regions ahead • Solid earnings and margins in Nordic and Central Europe regions • UK impacted by a lower retail orderbook due the store closures in Q1, and a delayed recovery of the p
Slide 3: Kitchen market development
Kitchen market development Nordic market: Stay-at-home trend, strong housing markets and consumer confidence continues to support consumer sales. Stable B2B demand driven by solid housing construction activity. UK: Strong growth in the trade market, backed by underlying consumer demand. Recovery in
Slide 4: Tomorrow Together Strategy - priorities
Tomorrow Together Strategy - priorities Sustainability and Design Leadership ambition: Growth Acceleration initiatives: Leading the industry through reduced environmental • Catapult trade growth footprint and beautiful and purposeful design • Revitalise consumer retail • Reinforce project leadership
Slide 5: Nobia Group, Q2
Nobia Group, Q2 • Organic net sales increased 35% 2020 2021 – 13% in the Nordics, 29% in Central Europe and Q2 Q2 97% in the UK region – Flat growth vs 2019 due to lag in the UK Net sales (SEKm) 2,741 3,622 • EBIT improved to SEK 347m (-43) Organic growth, (%) -25 35 • EBIT margin 9.6% Gross margin,
Slide 6: Net sales, rolling 12 months
Net sales, rolling 12 months Group by country UK Region by segment The Austria Netherlands 5% 6% Finland Trade 6% 43% UK Norway 37% 10% Sweden Retail 13% Project 34% Denmark 23% 23% 6
Slide 7: Nordic region, Q2
Nordic region, Q2 • Organic net sales increased 13% 55% of Q2 Group sales – Good development in Denmark, Sweden and Norway – Soft project market in Finland 2020 2021 Q2 Q2 – Organic growth 11% vs 2019 Net sales (SEKm) 1,804 1,989 • Higher average sales values and favorable mix Organic growth (%) -2
Slide 8: UK region, Q2
UK region, Q2 • Organic net sales up 97% (vs 2020) 35% of Q2 Group sales – Consumer order book and shipments impacted by the lockdown until April 12 2020 2021 – Rebound in all segments Q2 Q2 – Organic growth -15% vs 2019 Net sales (SEKm) 645 1,274 • Strong growth in trade segment vs Q2-19, Organic g
Slide 9: Central Europe region, Q2
Central Europe region, Q2 • Organic net sales growth 29% (vs 2020) 10% of Q2 Group sales – Good consumer demand in Austria 2020 2021 – New housing needs supports B2B demand in Q2 Q2 Netherlands – Organic growth 9% vs 2019 Net sales (SEKm) 292 359 • Strong EBIT and margin development Organic growth,
Slide 10: Financial position
Financial position Cash flow 2020 2021 Q2 Q2 Operating cash flow 716 618 Operating cash Of w. operating profit -43 347 Operating cash flow decreased to SEK 618m (716), Of w. change in working capital 537 147 higher sales impacting receivables Of w. investments in fixed assets -33 -73 Strong balanc
Slide 11: Direct material pricing impact update
Direct material pricing impact update • Significant upward pressure on DM cost Packaging & Chemicals − direct material supply restraints Joinery 5% − high demand across many industries 5% Appliances • Most DMs exposed to increases Frontals 28% 14% • Initial pressure in Q2, will accelerate in Q3 and
Slide 12: Summary
Summary • Overall good quarter for the Group • Strong retail market and solid earnings in the Nordics and Central Europe • Growth in UK trade channel, but other segments still in recovery • Direct material inflation to be mitigated by price increases, however risk for negative impact short term • St
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