Duni Ab · OMXSTO:DUNI

Duni Ab — Q3 2012 Earnings Presentation

18 slides from Duni Ab's earnings presentation, Oct 24, 2012

  1. Slide 1: Q3 Presentation 2012

    Q3 Presentation 2012 24 October, 2012

  2. Slide 2: Disclaimer

    Disclaimer • This presentation has been prepared by Duni AB (the “Company”) solely for use at this investor presentation and is furnished to you solely for your information and may not be reproduced or redistributed, in whole or in part, to any other person. By attending the meeting where this prese

  3. Slide 3: 2012 Q3 Highlights

    2012 Q3 Highlights • Net sales SEK 849 m (917) • Professional affected mainly by weak EUR – Volume declined by some 3% primarily • Underlying operating reflecting a soft market in combination with income SEK 63 m (98) less invoicing days in September (start of Christmas season). – Negative currency

  4. Slide 4: Market Outlook

    Market Outlook • HORECA market long-term growing in line or slightly above GDP – Positive eating out trend. – Higher growth in take-away sector. • Negative macro statistics in majority of markets translates into softer demand. – European debt crises still creates uncertainty regarding economic recov

  5. Slide 5: HoReCa Sales development Germany (July 2012)

    HoReCa Sales development Germany (July 2012) Source: destatis 5

  6. Slide 6: Restaurant Sales Development, Sweden (Aug 2011 – Aug 2012)

    Restaurant Sales Development, Sweden (Aug 2011 – Aug 2012)  +5.4% in volume in Aug and +5,4% in value. 6

  7. Slide 7: Business Areas

    Business Areas

  8. Slide 8: Professional

    Professional –Lower sales and EBIT mainly impacted by currency Sales and EBIT 1) Geographical split – sales Q3 2012 Net sales Q3 2012 Q3 2011 Growth Growth at Professional fixed exchange 3 000 16% rates 2 500 14% 12% 2 000 Nordic 140 152 ­7.9% ­7.2% SEK millions 10% 1 500 8% Central 6% Europe 375 41

  9. Slide 9: Evolin Campaign

    New designs for Experience Aricher, warmer holiday tables Evolin® glow ge? -_ Xi - ih Pe

  10. Slide 10: Consumer

    Consumer – Positive trend with growth in Central Region Sales and EBIT 1) Geographical split - sales Q3 2012 Net sales Q3 2012 Q3 2011 Growth Growth at Consumer fixed exchange 1 000 6% rates 4% Nordic 15 16 ­6.3% ­6.3% 800 Central 2% Europe 84 90 ­6.7% 1.1% SEK millions 600 0% South & East Europe 2

  11. Slide 11: Tissue

    Tissue – Low capacity utilization Sales and EBIT Sales mix Q3 2012 600 14% External 12% 46% 500 400 10% 8% 300 6% 200 Internal 4% 100 54% 2% 0 0% 2008 2009 2010 2011 LTM 2012 • Negative absorption effects from avoidance of stock build Sa les EBIT Ma r g in up and test runs . • Sales on par with last

  12. Slide 12: Financials

    Financials 12

  13. Slide 13: Operating Margin 7.4%

    Operating Margin 7.4% Q3 Q3 YTD YTD Q3 FY SEKm 2012 2011 2012 2011 LTM 2011 Net sales 849 917 2 638 2 744 3 701 3 807 Gross profit 207 248 678 716 993 1 031 Gross margin 24.3 % 27.1 % 25.7 % 26.1 % 26.8 % 27.1% Selling expenses ­97 ­105 ­327 ­332 ­436 ­441 Administrative expenses ­39 ­43 ­122 ­128 ­

  14. Slide 14: Quarter affected by FX effects and lower capacity utilization

    Quarter affected by FX effects and lower capacity utilization Q3 Q3 YTD YTD Q3 FY SEKm 2012 2011 2012 2011 LTM 2011 Professional Net sales 635 696 1 959 2 016 2 709 2 766 Operating income1) 77 93 228 237 349 357 Operating margin 12.1% 13.3% 11.6% 11.7% 12.9% 12.9% Consumer Net sales 101 110 354 403

  15. Slide 15: Strong Cash Flow: reduced stock building and lower capex

    Strong Cash Flow: reduced stock building and lower capex Q3 Q3 YTD YTD Q3 FY SEKm 2012 2011 2012 2011 LTM 2011 EBITDA1) 90 125 296 333 473 511 Capital expenditure ­21 ­58 ­87 ­177 ­287 ­377 Change in; Inventory ­20 ­66 ­24 ­92 31 ­37 Accounts receivable 11 38 29 ­23 16 ­36 Accounts payable ­3 4 ­19

  16. Slide 16: Net Debt at all time low for Q3

    Net Debt at all time low for Q3 SEKm Q3 2012 Q3 2011 FY 2011 Goodwill 1 199 1 199 1 199 Tangible and intangible fixed assets 870 728 888 Net financial assets1) 210 241 210 Inventories 481 534 470 Accounts receivable 604 670 663 Accounts payable ­270 ­315 ­302 Other operating assets and liabilities3)

  17. Slide 17: Financial Targets

    Financial Targets Q3 LTM 2012 • Organic growth of 5% over a -2,0% Sales growth > 5% business cycle (at fixed exchange rates) • Consider acquisitions to reach new markets or to strengthen current market positions • Top line growth – premium focus 9,8% EBIT margin > 10% • Improvements in manufacturing

  18. Slide 18: Thank you!

    Thank you! 18

Duni — Q3 2012 Earnings Presentation on 6ix