Bhg Group Ab · OMXSTO:BHG
Bhg Group Ab — Q2 2021 Earnings Presentation
33 slides from Bhg Group Ab's earnings presentation, Jul 22, 2021
Slide 1: BHG surges past milestone of SEK 10 billion in LTM net sales
2021/Q2 BHG surges past milestone of SEK 10 billion in LTM net sales
Slide 2: Today's presenters
bho. Today’s presenters Adam Schatz President and CEO * BHG since 2019 + Axiell Group 2015-2019 (Exec. VP and CFO) * Gambro and Baxter 2008-2015 (Regional CFO, Head of UK & Ireland...); Teknoseed AB 2000-2008 (CEO); Goldman Sachs 1998-2000 (Analyst) 22/07/2021 2021/Q2 Jesper Flemme CFO BHG since 201
Slide 3: Agenda
ohg a a Agenda ae * Results highlights ee * Business update oe Y Ger Ne ¢ Financial update Q2 2021 | mt Group * DlY segment * Home Furnishing segment * Cash flow and financial position Summary * Q&A 22/07/2021
Slide 4: Agenda
ohg a a Agenda * Results highlights * Business update We aa . ¢ Financial update Q2 2021 | mt * Group mc * DlY segment * Home Furnishing segment * Cash flow and financial position Summary * Q&A 22/07/2021
Slide 5: Select financial highlights
Select financial highlights Strong organic developments and a continued high acquisition rate
Slide 6: Organic growth
Organic growth Y-on-Y development
Slide 7: Agenda
bho. Agenda * Results highlights * Business update * Financial update Q2 2021 * Group * DlY segment * Home Furnishing segment * Cash flow and financial position Summary * Q&A 22/07/2021
Slide 8: Continued expansion of our already leading product range
01 02 03 04 Continued expansion of Scale and a growing Creating the most Offering the market´s our already leading share of own brands in appealing digital best professional product range our sales mix shopping experience guidance, service and support
Slide 9: We continue to see growth opportunities coming months
We continue to see growth opportunities coming 12 months In a total market that is expected to grow less explosively the coming 12 months, given the tough comparables, we see continued growth opportunities
Slide 10: BHG as an acquiror – M&A is part of our DNA
BHG as an acquiror – M&A is part of our DNA
Slide 11: HYMA - Key transaction highlights
bho. HYMA - Key transaction highlights BHG's acquisition of 92% of HYMA was announced in Q2 HYMA summary Governance Timeline 22/07/2021 © HYMAis a fast-growing online category expert in Garden, Tools & Machinery, Forestry, Outdoor life, Hunting and Leisure, which BHG has followed for a long time — E
Slide 12: 52% YoY pro-forma growth in active customers
52% YoY pro-forma growth in active customers • • •
Slide 13: BHG at a glance – significant scale and profitability
BHG at a glance – significant scale and profitability
Slide 14: Agenda
bho. Agenda * Results highlights Business update Financial update Q2 2021 * Group 6 * DIY segment * Home Furnishing segment * Cash flow and financial position Summary * Q&A 22/07/2021
Slide 15: Continued rapid and profitable growth
Continued rapid and profitable growth 3 550,6 2 694,9 1 378,5 278,0 885,8 232,7 79,9 85,1 2 183,5 1 818,7 229,6 162,6 Q2 2020 Q2 2021 Q2 2020 Q2 2021 DIY Home Furnishing Eliminations DIY Home Furnishing Other*
Slide 16: Robust development in KPIs
hg. 2021/Q2 Robust development in KPls 22/07/2021 # of visits # orders Conversion Average order (O00’s) (000’s) rate, (%) value (SEK) Solid growth on the basis of sound fundamentals * Average order value (AOV) for the quarter was impacted by the consolidation of Nordic Nest, whose AOV is about one-t
Slide 17: Strong gross margin development
Strong gross margin development
Slide 18: DIY segment: Another extraordinarily strong quarter
DIY segment Another extraordinarily strong quarter for the segment • • 2 183,5 • 1 818,7 229,6 162,6 • Q2 2020 Q2 2021 Q2 2020 Q2 2021 •
Slide 19: Home Furnishing segment: continuing to build critical mass
Home Furnishing segment The segment is continuing to build critical mass • • 1 378,5 • 885,8 85,1 79,9 Q2 2020 Q2 2021 Q2 2020 Q2 2021 •
Slide 20: Healthy cash generation
Cash flow and financial position Healthy cash generation 1 013,9 990,8 10,5 344,8 0,1 336,1 (19,3) 455,6 299,0 (777,7) EBITDA Adjustments Income tax Change in Cash flow from Q4 2020 CF from CF from CF from Q2 2021 for items not paid working operating liquidity operating investing financing liquidity
Slide 21: BHG's financial position remains solid
Cash flow and financial position BHG’s financial position remains solid • • •
Slide 22: Agenda
bho. Agenda * Results highlights * Business update * Financial update Q2 2021 * Group * DIY segment * Home Furnishing segment * Cash flow and financial position * Summary Q&A 22/07/2021
Slide 23: Q2 Summary
BHG sEgprxn Q2 Summary SEK 10bn Net sales passed LTM Leading Nordic online position strengthened High M&A rate and new credit facilities secured Securing leadership engagement Strategy execution in full swing We raise the bar! We surpassed SEK 10.8 billion in net sales for the most recent 12-month p
Slide 24: big
big Solighy iti! ii Te eer ies UA °
Slide 25: Appendix
bh. 22/07/2021 Appendix 25
Slide 26: Condensed consolidated financial information
Condensed consolidated financial information ∆% ∆%
Slide 27: DIY segment
DIY segment Apr-Jun Jan-Jun Jan-Dec SEKm (if not otherwise stated) 20212020 A% 2021-2020 A% 2020 Net sales 21635 18187 201 35729 2.7601 294 5.6631 Gross profit 5561 4131 346 «91806274 456 13274 Gross margin (%) 255 227 28pp. 256 227 28pp. 23.4 Adjusted EBITDA 25731855 388 38992478 574 B16 Adjusted E
Slide 28: Home Furnishing segment
Home Furnishing segment Apr-Jun Jan-Jun Jan-Dec SEkm (if not otherwise stated) 2021-2020 A% 2021-2020 A% 2020 Net sales 13785 «8858 556 25637 15804 622 33372 Gross profit 35 (2627 490 Bad = 4697 563 10054 Gross margin (%) 284 297 -13pp. 286 297 llpp. 301 Adjusted EBITDA 1187 1030 152 2m8 1795 347 38
Slide 29: P&L
P&L Apr-Jun Jan-Jun Jan-Dec SEKm 2021 2020 2021 2020 2020 Net sales 35506 26949 61184 43233 89682 Other operating income 08 32 4 ol 43 Total net sales 35514 2,698.1 6118.5 4323.3 8,972.5 Cost of goods sold -2,6052 2.0194 44737 32273 -6,6374 Personnel costs 265.4 1663 4658 -3052 6572 Other external c
Slide 30: Balance sheet
Balance sheet 20.0, 310s. seh ‘ahaa 2686 Nen-curentaaset Good 50088 © -30n0 4305 heritable aad sets 207, 1mos gota ‘otalintangibilined assets ais aaa Si Susdngr anand 109 108 100 Leased sets 24802 9 Tangblofied asst 3 457 40 Financial fhacaeats 102 ey 94 Deterrent tmazaet 25, ng ma “etait ets Tae Ce
Slide 31: Consolidated statement of cash flows
Consolidated statement of cash flows
Slide 32: Reconciliation of non-IFRS metrics
Reconciliation of non-IFRS metrics
Slide 33: Slide 33