Slide 1: Year-End Report 2024
Year-End Report 2024 Acquisition-driven sales in continued soft market Robert Dackeskog, President and CEO Magnus Carlsson, CFO 1
Slide 2: Disclaimer
Disclaimer – This presentation has been prepared by Duni AB (the “Company”) solely looking statements involve known and unknown risks, uncertainties and for use at this investor presentation and is furnished to you solely for your other factors, which are in some cases beyond the Company’s control i
Slide 3: Agenda
Agenda – Highlights – Market outlook – Q4 summary – Business areas – Sustainability – Strategy ahead – Financials – Summary – Q&A 3
Slide 4: Highlights Q4
Highlights Q4 – Acquisition-driven sales – Announced acquisition of UK converter Poppies – Low net debt and continued strong financial position – Reached 2025 climate KPI for scope 1 and 2 4
Slide 5: Market Outlook
Market Outlook READY FOR GROWTH AS THE MARKET TURNS – Signs of increasing consumer confidence following subdued consumption during 2024 – Restaurant owners continue to face challenges with higher costs for raw materials and energy, while consumers remain cautious with their spending – Table seatings
Slide 6: Q4 2024 Key Financials
Q4 2024 Key Financials N E T SA L E S OP E R A T I NG I NC OME OP E R A T I NG MA RG I N SEK 2,057 m SEK 178 m 8.7% Net sales amounted to Operating income amounted to Operating margin was SEK 2,057 m (1,971) SEK 178 m (191) 8.7% (9.7) 6
Slide 7: Q4 Comments
Q4 Comments N E T SA L E S + 4 . 4 % OP E R A T I NG I NC OME - 7 . 0 % – Total sales increase 3.7% in fixed currencies. – Negatively impacted by lower sales in Europe and increasing pulp and logistic cost. – During the quarter acquired companies contribute with 76 MSEK and organic growth is at -0,2
Slide 8: BA Dining Solutions
BA Dining Solutions N E T SA L E S OP E R A T I NG I NC OME OP E R A T I NG MA RG I N SEK 1,208 m SEK 152 m 12.6% Net sales amounted to Operating income amounted to Operating margin was SEK 1,208 m (1,214) SEK 152 m (175) 12.6% (14.4) 8
Slide 9: Dining Solutions Q4 2024
Dining Solutions Q UARTER 1,400 NE T S AL ES LTM 5,000 Q4 2024 1,200 1,000 800 600 4,000 3,000 2,000 400 1,000 200 0 0 NE T S AL ES , S EK M NE T S AL ES LA ST 12 MONTHS (LTM) , SEK M – Lower volumes vs last year. HoReCa sales almost in line with last Q UARTER O PE RATING INCO ME LTM year but weaker
Slide 10: Acquisition of Poppies
D ININ G SO LUT ION S Acquisition of Poppies Poppies is a UK-based tabletop company expanding the Group’s distribution capacity in the UK and Ireland. The company has annual net sales of approximately SEK 620 m with profitability in line with Duni Group’s business area Dining Solutions. The merger w
Slide 11: BA Food Packaging Solutions
BA Food Packaging Solutions N E T SA L E S OP E R A T I NG I NC OME OP E R A T I NG MA RG I N SEK 849 m SEK 26 m 3.1% Net Sales amounted to Operating Income Operating Margin was SEK 849 m (757) SEK 26 m (17) 3.1% (2.2) 11
Slide 12: Food Packaging Solutions Q4 2024
Food Packaging Q UARTER 1,000 NE T S AL ES LTM 3,500 Solutions Q4 2024 800 600 400 2,800 2,100 1,400 200 700 0 0 NE T S AL ES , S EK M NE T S AL ES LA ST 12 MONTHS (LTM) , SEK M – Net growth with increasing volumes outside of Europe while volumes Q UARTER O PE RATING INCO ME LTM in Europe decrease.
Slide 13: Our Decade of Action 2030
Our Decade of Action 2030 Our sustainability initiatives B E CO MI N G C I RC U L A R A T S C AL E GO I NG NE T Z E R O L I V I N G T H E CH A NG E 100% 0 CO2 #1 Circular target Net Zero carbon emissions for A trusted sustainability leader Scope 1 and 2 13
Slide 14: Becoming Circular at Scale
Becoming Going Net Living the Circular at Zero Change Scale A C T IV I T I E S I N T H E Q UA R T E R A C T IV I T I E S I N T H E Q UA R T E R A C T IV I T I E S I N T H E Q UA R T E R Sugarcane fiber packaging confirmed CO2 calculator for packaging portfolio Duni Group on TIME’s list of “World’s r
Slide 15: A Trusted Sustainability Leader in our Industry by 2030
STRATEGY FOR GROWTH A Trusted Sustainability Leader in our Industry by 2030 STRATEGIC PRIORITIES Increase innovative offering to customers and consumers Grow positions in Europe and Asia Pacific Enhance operational efficiency and enable regional differentiation B E CO MI N G C I RC U L A R A T S C A
Slide 16: Financials
Financials 16
Slide 17: Income Statement
Income Statement SEK m Q4 / 2024 Q4 / 2023 FY / 2024 FY / 2023 Net sales 2,057 1,971 7,578 7,718 Gross profit 517 523 1,731 1,846 Gross margin 25.1% 26.5% 22.8% 23.9% Selling expenses -201 -190 -766 -699 Administrative expenses -118 -117 -438 -421 R & D expenses -10 -13 -38 -36 Other operating net -
Slide 18: Business Area Financials
Business Area Financials SEK m Q4 / 2024 Q4 / 2023 FY / 2024 FY / 2023 Dining Solutions Net sales 1,208 1,214 4,409 4,681 Operating income1) 152 175 479 600 Operating margin 12.6% 14.4% 10.9% 12.8% Food Packaging Solutions Net sales 849 757 3,168 3,037 Operating income1) 26 17 125 117 Operating marg
Slide 19: Operating Cash Flow
Operating Cash Flow SEK m Q4 / 2024 Q4 / 2023 FY / 2024 FY / 2023 Operating EBITDA1) 216 228 744 860 Capital expenditure -86 -56 -205 -157 Change in; Inventory -13 51 -110 469 Accounts receivable 73 79 93 5 Accounts payable 151 158 57 -120 Other operating working capital -47 -23 -96 101 Change in wo
Slide 20: Financial Position
Financial Position SEK m December 2024 December 2023 Goodwill 2,407 2,110 Tangible and intangible fixed assets 1,681 1,500 Net financial assets1) 77 -36 Inventories 1,476 1,251 Accounts receivable 1,118 1,125 Accounts payable -827 -719 Other operating assets and liabilities3) -809 -651 Net assets 5,
Slide 21: Financial Targets
Financial Targets S A L E S GR OW T H OP E R A T I NG M A RG I N D I V I DE N D P A Y OU T R AT I O > 5% > 10% 40+% Organic growth of 5% over a business cycle Top line growth – premium focus Target at least 40% of net profit FY 2024 FY 2024 202 4 -4.9% at fixed exchange rates 8.0% 5.00 SEK (91%, adj
Slide 22: Summary Q4 2024
Summary Q4 2024 – Acquisition-driven sales – Announced acquisition of UK converter Poppies – Low net debt and continued strong financial position – Reached 2025 climate KPI for scope 1 and 2 22
Slide 23: The Architects of Dining
The Architects of Dining GROUP DUNI