Synsam Ab · OMXSTO:SYNSAM
Synsam Ab — Q1 2025 Earnings Presentation
15 slides from Synsam Ab's earnings presentation, May 16, 2025
Slide 1: Results presentation Q1 2025
Results presentation Q1 2025
Slide 2: Q1 2025 in summary
Q1 2025 in summary Strong organic growth totalled 12.8% (7.7) and strengthened market position EBITDA margin was 21.6% (23.3), EBITA margin was 11.9% (13.4) and EBIT margin was 10.0% (11.1) Continued positive trend in subscriptions and the cash business Synsam Lifestyle subscription business
Slide 3: Q1 Overview
Q1 Overview Q1 Net sales increased to 1 708 MSEK (1 521), an Net Sales increase of 12.3% MSEK 1 708 Gross margin amounted to 74.1% (75.7) Q1 Gross margin 74.1% Organic growth was 12.8% and growth like-for-like was 8.9% Q1 Organic growth +12.8% EBITDA increased to 375 MSEK (358), an increase
Slide 4: Investments in Sweden affect the result. Denmark is affected by the Danish Credit Agreement Act
Investments in Sweden affect the result. Denmark is affected by the Danish Credit Agreement Act. Strong development in Norway. Very strong earnings performance in Finland. 1 Organic growth Q1 Like for like Q1 EBITDA Q1 +8.6% +5.8% 240 MSEK (257) SWEDEN 2 Organic growth Q1 Like for like Q1 EBITDA Q1
Slide 5: New stores – successful establishments in small cities
New stores – successful establishments in small cities Rolling 12-months actuals (MSEK) – selected stores Store Opening/Upgrade month Sales EBITDA* Comment Store Opening/Upgrade month Sales EBITDA* Comment Synsam Norrmalmstorg 2019-03 74 29 Profil Optik Roskilde** 2022-12 12 3 B I Synsam Hötorget**
Slide 6: Flagship Copenhagen
FLAGHSHIP COPENHAGEN Q1 2025 RESULTS | 6
Slide 7: Net sales cash - strong development +12%
Net sales cash - strong development +12% Positive development in net sales cash*, which amounted to 3 107 MSEK LTM Q1 2025. In the quarter, net sales amounted to 780 MSEK (697), an increase of 12.0%. Net sales cash (MSEK) 3107 3024 2897 2663 2533 2411 2251 2019 2020 2021 2022 2023 2024 LTM Q1 2025
Slide 8: Stable customer growth in Synsam Lifestyle
Stable customer growth in Synsam Lifestyle Churn and customer growth remains stable Churn 2,69% 2,84% 2,51% 2,60% 2,20% 2,28% 2,33% Synsam Lifestyle represents 53% of total net sales 2,12% 2,17% 2,11% 2,17% 2,04% 1,86% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2022 2023 2024 2025 Active customer base S
Slide 9: Successful implementation of Synsam EyeView
Alternativ 3 Successful implementation of Synsam EyeView Of the total eye examinations* during the quarter, 12% were carried out using Synsam EyeView in Sweden, and 20% were carried out using Synsam EyeView in Norway. Share of Synsam EyeView examinations Q1 2025 Total number of eye examinations: T
Slide 10: Financial development
FINANCIAL DEVELOPMENT &) s¥NSAM GROUP
Slide 11: Long term financial development – strong trend
Long term financial development – strong trend Net sales development Adjusted EBITDA, adjusted EBITA and EBIT 8 000 +23% development Average +13% +12% +20% 1 900 26,0% annual +9% +10%* 26,9% 7 000 26,0% 24,0% growth +11% 1 700 24,6% 24,5% rate: 6 622 +0% 24,1% +2% 6 435 22,8% 10% 6 000 1 500 1 595 1
Slide 12: Lower Net debt/Adjusted EBITDA
Lower Net debt/Adjusted EBITDA Cash flow from operating activities before changes in Cash flow from operating activities before changes in working capital working capital amounted to 242 MSEK (245) in the first 1090 1218 quarter. Increase in taxes paid during the quarter. 245 242 Cash flow from
Slide 13: Summary
SUMMARY &) s¥NSAM GROUP
Slide 14: Summary – Strengthened market position
Summary – Strengthened market position Strong organic growth of 12.8% and strengthened market position, in a more restrained market Synsam Lifestyle increased 12.5% in Q1 and the number of Lifestyle customers amounted to approximately 718 000 (approximately 645 000) Synsam’s cash business incr
Slide 15: www.synsam.com
www.synsam.com