Clas Ohlson Ab Class B · OMXSTO:CLAS_B
Clas Ohlson Ab Class B — Q1 2025 Earnings Presentation
23 slides from Clas Ohlson Ab Class B's earnings presentation, Sep 4, 2024
Slide 1: Q1 report
Q1 report 04 September 2024 Kristofer Tonström President & CEO Pernilla Walfridsson CFO 1
Slide 2: Agenda
• Business update • Financial development Agenda • Events after the reporting period • Summary • Q&A 2
Slide 3: Highlights Q1
✓ Q1 total sales* 2,623 MSEK, organic +10% ✓ Q1 operating profit at 203 MSEK ✓ operating margin +7.7% ✓ Operating cash flow 413 MSEK (328) Highlights Q1 ✓ Solid financial position: net debt/EBITDA -0.4** ✓ EPS: 2.30 SEK (-0.42) ✓ Solid start to Q2 with +7% organic growth in August *Including the acq
Slide 4: Business update
Business update 4
Slide 5: Strategic position
Strategic position Competitive advantages Leveraging competitive advantages • • • • • • Tidy up Light up Create a conscious Connect & enjoy Fix your your home. your home. home environment. your home. home. 5
Slide 6: Strategy execution – key targets
Strategy execution – key targets Organic growth 5% with Industry leading in 1 7-9% EBIT margin 2 sustainability – deliver on our people agenda and 2045 commitments Planet People Society 20/21 21/22 22/23 23/24 R12 6
Slide 7: Strategy execution – overview Q1 24/25
Strategy execution – overview Q1 24/25 Make assortment relevant A profitable and growing Build a robust 12 months/year. online business. store network. ✓ All prioritised categories driving ✓ Q1 online sales* +12% ✓ Net addition of 3 stores in Q1 growth ✓ Omni-structure continued ✓ 5 more openings pl
Slide 8: Growth in all prioritised niches
Growth in all prioritised niches Tidy up Light up Create a conscious Connect & enjoy Fix your your home. your home. home environment. your home. home. Sustainability Spare parts Seasons Consumables assortment 8
Slide 9: Customer relevance and satisfaction
Customer relevance and satisfaction Product reviews Affordability Q: How affordable do you think the following brands are? Net promoter score 5 200000 59 4 58 150000 57 3 56 100000 4% 67% 29% Clas Ohlson 2 55 1 50000 54 0 0 53 Low price 6% 59% 35% competitors average No of reviews Score 1-5 Not affo
Slide 10: Financial development
Financial development 10
Slide 11: Sales development well above targets
Sales development well above targets Q1 Total sales, MSEK Online sales, MSEK • Total sales up 20% to 2,623 MSEK, of which 10% organic, currency effects 0% and the acquired Spares group 10% • Online sales, excluding Spares, up 12% • Online sales, including Spares, 494 MSEK Online share of total sales
Slide 12: Positive development in all markets
Positive development in all markets Sweden Norway Finland Organic growth: Q1: +13% Q1: +10% Q1: +4% 12
Slide 13: Macro trends with business impact
Macro trends with business impact Spot prices for 40t containers from Asia to Gothenburg $18 000 Factors impacting Clas Ohlson: $16 000 $14 000 • Container shipping costs and raw material and commodity prices $12 000 $10 000 • Translation/transaction effects - sales instant effects and purchasing $8
Slide 14: Gross margin affected by currency effects
Gross margin affected by currency effects Sourcing and Price mix Currency transportation effects incl. hedging 38.2% Spares 37.5% Q1 2023/24 Q1 2024/25 14
Slide 15: Financial overview
Financial overview Share of selling expenses, Q1 27.8 Q1 Q1 MSEK 24/25 23/24 % (29.7%) Operating profit excl. non- 203 155 Administrative expenses, Q1 recurring items 51 Items affecting comparability 0 170 MSEK Operating profit 203 -16 (46 MSEK) EBIT-margin, Q1 Profit after financial items 187 -32 P
Slide 16: Well balanced inventory
Well balanced inventory • Inventory level: 2,606 MSEK (2,221) at the end of the period 16
Slide 17: Strong cash flow and solid financial position
Strong cash flow and solid financial position Q1 Q1 Approved credit facilities* 1,110 MSEK 24/25 23/24 MSEK Cash flow from operating activities, before 346 250 Of which utilised 0 MSEK change in working capital Change in working capital 67 79 Net debt/EBITDA excl. IFRS 16 Cash flow from operating ac
Slide 18: Events after the reporting period
Events after the reporting period 18
Slide 19: August sales development
August sales development MSEK • Total sales up 13% to 968 MSEK, of which 7% organic, currency effects -3% and the Total 968 acquired Spares group 9% 860 758 ‒ Sweden +7% organic ‒ Norway +8% organic ‒ Finland +7% organic • Store network increased by 11 stores compared to end of August last year • Al
Slide 20: Summary
Summary 20
Slide 21: Continued focus on long-term growth plan
Continued focus on long-term growth plan • Still relatively weak general market underlines importance of strong execution in day-to-day operations and value for money assortment ‒ Continued renewal of assortment • Continued focus on developing our sales channels ‒ 5 store openings in Q2 ‒ Developing
Slide 22: Q&A
Q&A 22
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