Elon Ab · OMXSTO:ELON
Elon Ab — Q1 2024 Earnings Presentation
16 slides from Elon Ab's earnings presentation, May 7, 2024
Slide 1: Q1 Report 2024 Elon AB
2024-05-07 Q1 REPORT | 2024 Elon AB Stefan Lebrot CEO Peter Brodén CFO
Slide 2: Financial strength and foundation for future growth
Q1 REPORT 2024 Financial strength and foundation for future growth Financials • Better quarter operating profit • Improved Group and stable Store gross margin • Improved stock levels Achievements • Consolidation of retail • Expansion of telecom segment • Widening of own brands Canvac – Heatpump Laun
Slide 3: Net sales
Q1 REPORT | 2024 Net sales TURNOVER 1 096 -78 MSEK vs Q1-23 MSEK
Slide 4: Organic growth better than expected
Q1 REPORT | 2024 Organic growth better than expected GROWTH -6,7% vs Q1-23 no. of sales days -3% Elvita – OverEarHeadphones Launch Q1 - 2024
Slide 5: Diversed channel mix
Q1 REPORT | 2024 Diversed channel mix > 30% sales through SMB and LCP BY BUSINESS AREA L&S 8% B2B 24% B2C 68% Share of Net Sales Q1-24
Slide 6: Growing in new markets
Q1 REPORT | 2024 Growing in new markets > 10% from Iceland, Finland and Denmark BY COUNTRY 2% 4% 8% 78% 7% Share of Net Sales Q1-24 Nordanro kök – Matlagningskök Launching 2024
Slide 7: Improved quarter result and cash flow trend
Q1 REPORT | 2024 Improved quarter result and cash flow trend OPERATING PROFIT OPERATING CASHFLOW -41 MSEK -231 MSEK +8 MSEK vs Q1-23 -170 MSEK vs Q1-23 Adjusted for seasonality in supplier payments operating cash flow in Q1-24 improved vs Q1-23 by approx 86 MSEK. Elon & Elon Ljud&Bild – ”Allt för He
Slide 8: Improved Gross Margin
Q1 REPORT | 2024 Improved Gross Margin through positive sales mix and distribution GROSS MARGIN 12,6% +1,5%pts vs Q1-23 Elons chain concepts have managed to maintain a sales margin in line with Q1-23 despite a challenging market. Elvita – In Ears Launch Q1 - 2024
Slide 9: Less cost doing more
Q1 REPORT | 2024 Less cost doing more Synergies, efficiencies and cost control TOTAL COST REDUCTION -92 MSEK R12m vs pre merge separate entites (fixed cost and marketing savings)
Slide 10: Building scale
Q1 REPORT | 2024 Building scale Improved profit on slower market SALES AND OPERATING MARGIN 5 200 8,0% 545000 100 900 44 800 700 4 888 4 500 4 600 4 719 4 809 7,0% 4 4 400 300 44 200 100 6,0% 43 000 900 33 800 700 3 500 600 333 400 300 3 657 5,0% 33 200100 3 342 32 000 900 4,0% 22 800 700 2 945 2 95
Slide 11: Seasonal trend
Q1 REPORT | 2024 Seasonal trend Sow in spring and harvest in autumn OPERATING PROFIT - QUARTERLY 80 60 63 40 37 34 29 20 21 MSEK 19 18 15 14 13 5 3 0 -15 -23 -24 - 20 -41 - 40 -49 - 60 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2020 2021 2022 2023 2024 Purchase of Market Adapting an
Slide 12: Positive profit trend
Q1 REPORT | 2024 Positive profit trend Cost reductions mitigates negative macro effects OPERATING PROFIT - LTM 80 4,0% 60 2,0% 2,0% 1,8% 1,4% 1,1% 1,0% 0,9% 0,8% 0,0% 0,5% 0,3% 0,3% 0,1% 40 -0,3% -0,4% -0,5% -2,0% MSEK 20 -4,0% 49 47 74 43 34 66 10 14 32 13 5 0 -13 -20 -24 -6,0% - 20 -8,0% - 40 -10,
Slide 13: WC seasonal trend
Q1 REPORT | 2024 WC seasonal trend Improved stock levels and receivables and seasonal payments in Q1-24 comp to Q2-23. WORKING CAPITAL - QUARTERLY 600 10,1% 8,9% 8,8% 10,0% 500 7,8% 514 7,1% 6,4% 6,5% 400 424 4,3% 5,0% 3,7% 3,2% 3,5% 3,0% 358 346 332 300 323 301 -0,4% 0,0% 200 209 132 130 100 117 10
Slide 14: Operating cash flow
Q1 REPORT | 2024 Operating cash flow Improved stock, improved receivables and higher payments OPERATING CASH FLOW 250 166 135 70 25 80 111 -77 70 133 72 131 173 3 200 212 196 150 155 100 93 50 65 2 43 33 0 MSEK - 50 -60 - 100 -120 - 150 -174 -174 - 200 -231 - 250 - 300 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Slide 15: Summary
Q1 REPORT 2024 Summary • Substantial market footprint • Proven scalabillity • Expanding with profits Canvac – Heatpump Launch Q1 2024
Slide 16: @LONGROUP
@LONGROUP