Elektroimportoren As · OSL:ELIMP
Elektroimportoren As — Elektroimportøren AS — Q3 2024 Earnings Presentation
19 slides from Elektroimportoren As's earnings presentation, Nov 7, 2024
Slide 1: Elektroimportøren 3rd quarter presentation
Elektroimportøren 3rd quarter presentation 7 November 2024 Andreas Niss CEO Jørgen Wist CFO
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Elektroimportøren AS (the “Company”) solely for information purposes. The presentation does not constitute an invitation or offer to acquire, purchase or subscribe for shares. Certain statements included in this presentation contain various forward-l
Slide 3: Agenda
Agenda Q3 highlights Trading summary Financials Outlook Q&A
Slide 4: Q3 highlights
Q3 highlights Revenue of NOK 407 million, up 1.7% from NOK 401 million last year Like for like sales, down 1.1% Gross margin of 36.7%, up from 35.3% last year Operating expenses of NOK 105 million, a reduction of NOK 7 million from NOK 112 million last year. Opex to sales ration of 25.8% (28.0% last
Slide 5: Q3 2024 trading summary
Q3 2024 trading summary Number of Visitors Group sales varied throughout the quarter. Strong 600 000 526 618 523 773 growth in July, more modest growth in August and a 400 000 slight decline in September 200 000 Smart home products and EV chargers represent the 0 Q3 2024 Visitors Q3 2023 Visitors LY
Slide 6: Elbutik, Sweden
Elbutik, Sweden Actions taken to increase gross margins whilst continuing to grow B2B customer offer is working and B2B is now outperforming B2C in Veddesta Campaign management, assortment adjustments and correct pricing being our top priorities Reported EBITDA of NOK 0 million vs NOK -4 million las
Slide 7: Launch of new products in electro materials and heating
Launch of new products in electro materials and heating Namron share of business in Norway for Q3 was 34.8% versus 33.0% last year Namron sales in Sweden with a share of business of 8.9% in Q3 2024 compared to 5.3% in Q3 2023.
Slide 8: Solar
Solar Total orders of NOK 3 million in Q3, down -79.3% from last year. Order back log of NOK 4 million end of September. Sales have been re-focused to target commercial buildings, while continuing to offer solar to consumers through SpotOn. The Group has recognized an additional write-down of NOK 13
Slide 9: Finance
Finance == Elektroimportoren
Slide 10: Revenues
Revenues Total revenue in Q3 was NOK 407 million, up 1.7% from NOK 401 million last year. The increase was driven by online revenue in Norway (4.2%), the store in Sweden (44.1%) and revenue from Solar projects which were finalised in the period (Other). The like-for-like revenue growth in Norway was
Slide 11: Gross margin
Gross margin Gross profit for the quarter was 150 million, up from 141 million last year. Gross margin of 36,7%, up from 35.3% last year. Higher gross margin resulted from price adjustments. Gross margin is also positively affected by increase in share of business of B2C from 51.0% last year to 52.7
Slide 12: OPEX
OPEX Opex to sales ratio was reduced to 25.8% in Q3 (28.0% last year). Operating expenses are reduced compared to last year, even with general salary increase and inflation adjustment of costs. The group continues to maintain a rigid cost control.
Slide 13: EBITDA
EBITDA Reported EBITDA of NOK 30 million, up from NOK 28 million last year. EBITDA margin in Q3 was 7.4%, up from 7.1% last year. Adjusted EBITDA of NOK 44 million, up from NOK 29 million last year. Adjusted EBITDA margin in Q3 was 10.9%, up from 7.3% last year. Adjustment of NOK 14 million is mainl
Slide 14: Cash Flow
Cash Flow Cash flow from operations affected by positive EBITDA and reduction working capital in the quarter. Cash flow from investments are mainly maintenance CAPEX, Spoton and the new store in Straume. Cash flow from financing consists of lease payments and interest paid.
Slide 15: Cash and credit facilities
Cash and credit facilities Cash and available credit facilities of NOK 217 million (NOK 103 million), including an unused overdraft facility of NOK 120 million. Excluding IFRS 16 effects, net interest-bearing debt was NOK 151 million at the end of the quarter (NOK 365 million) Next amortization on o
Slide 16: Events after the period and Outlook
Events after the period and Outlook
Slide 17: Events after the period and Outlook
Events after the period and Outlook Market conditions continue to be challenging, especially in the B2B market. Consumers show positive reactions to good campaigns but are otherwise still selective about their spending. However, so far in the 4th quarter we have managed to grow sales in both countri
Slide 18: Q&A
Q&A == Elektroimportoren
Slide 19: Elektroimportøren
Elektroimportøren