Flugger Group A/s Class B · OMXCOP:FLUG_B

Flugger Group A/s Class B — Q1 2023/24 Earnings Presentation

14 slides from Flugger Group A/s Class B's earnings presentation, September 2023

  1. Slide 1: Flügger Group Investor presentation Q1 23/24

    Flügger Group Investor presentation Q1 23/24

  2. Slide 2: Flügger at a glance

    Investor presentation Q1 2023/24 Flügger at a glance Key L12M figures Q1 2023/2024 Flügger’s business model Revenue mDKK EBIT mDKK Production Sales channels Customers Own stores 2.561 61 Franchise stores BtB E-commerce R&D BtC Full-time employees Markets DIY chains etc. 2.247 17 Brand examples Segme

  3. Slide 3: Q1 23/24 highlights – Revenue and EBIT expectations reached despite currency headwind

    Investor presentation Q1 2023/24 Q1 23/24 highlights – Revenue and EBIT expectations reached despite currency headwind and challenged markets Revenue (mDKK) Gross margin (%) EBIT (mDKK) (% margin) +26% +1% +1.4pp 88 730 741 49.8 51.2 70 (11.9%) (9.6%) Q1 22/23 Q1 23/24 Q1 22/23 Q1 23/24 Q1 22/23 Q1

  4. Slide 4: Revenue increased +1% compared to last year driven by price increases

    Investor presentation Q1 2023/24 Revenue increased +1% compared to last year driven by price increases, but higher underlying organic growth offset by negative currency effect Revenue development (mDKK) Revenue effects (mDKK) Revenue Revenue, LTM Revenue Revenue, LTM -9% 0% 10% 741 750 2.700 730 700

  5. Slide 5: Improvement in EBIT and in line with expectations

    Investor presentation Q1 2023/24 Improvement in EBIT and in line with expectations, however still affected by difficult market conditions, unfavorable customer mix and higher cost levels EBIT development (mDKK) EBIT effects (mDKK) EBIT EBIT, LTM EBIT EBIT LTM 3 88 150 250 200 10 100 150 1 2 100 50 5

  6. Slide 6: Q1 23/24 segments – Segment 1 & 2 delivered growth in earnings

    Investor presentation Q1 2023/24 Q1 23/24 segments – Segment 1 & 2 delivered growth in earnings, while segment 3 was heavily affected by the drop in exchange rates Segment 1 (mDKK) Segment 2 (mDKK) Segment 3 (mDKK) Revenue EBIT (margin) Revenue EBIT (margin) Revenue EBIT (margin) -1% 486 482 +8% +4%

  7. Slide 7: Q1 2023/24 business highlight – Customers in focus

    Investor presentation Q1 2023/24 Q1 2023/24 business highlight – Customers in focus Customers prefer quality and expect renovation work to dominate the market; fits well with Flügger proposition What do you rank highest selecting paint supplier? 44% 24% 16% 16% Quality Relation Price Service What ty

  8. Slide 8: Q1 2023/24 business highlight – Ukraine is improving

    Investor presentation Q1 2023/24 Q1 2023/24 business highlight – Ukraine is improving Increased quality in Flügger Segment 3, as Ukraine is regaining momentum and comprises larger share of the segment Revenue inkl. FX effects (mDKK) al currency 91% in loc + Odessa, HQ and manufacturing 31 21 Q1 ’22/

  9. Slide 9: Going green strategy – selected CSR targets and status

    Investor presentation Q1 2023/24 Going green strategy – selected CSR targets and status Going Green sustainability focus areas and key selected targets Selected target ‘23/24 Current achievement Current 82% 100% environmental 80% ReColor Paint labelled paint by 2030 ’21/22 76% ecolabelled paint ’20/

  10. Slide 10: Solid inventory reduction brings working capital on par with LY

    Investor presentation Q1 2023/24 Solid inventory reduction brings working capital on par with LY despite lower payables – positive impact on NIBD and ratio Net working capital (mDKK) Financial solidity (mDKK) WC Working Capital Working Capital / Ratio Ratio% NIBD NIBD NIBD / EBITDA NIBD/EBITDA 800 2

  11. Slide 11: LTM price/earnings ratio affected by challenged earnings; dividend proposal

    Investor presentation Q1 2023/24 LTM price/earnings ratio affected by challenged earnings due to historically high cost levels. Dividend proposal in 23/24 in line with historical payments Price/earnings development Share price development incl. reinvested dividends P/E, L12M Accumulated dividend Div

  12. Slide 12: Share price development

    Investor presentation Q1 2023/24 Share price development Flügger’s share price development Flügger’s relative share price development (indexed) Share price Share price (DKK) Volume (# of shares) Price indexed Flügger 800 260 Akzo Nobel 240 PPG Sherwin Williams 700 220 200 180 600 160 140 500 120 100

  13. Slide 13: 2023/24 Outlook & Financial guidance

    Investor presentation Q1 2023/24 2023/24 Outlook & Financial guidance 2023/24 Outlook and priorities Financial guidance 2023/24 ▪ The outlook for the future is cautiously optimistic with expectations of continued normalizing cost levels Guidance maintained 2023/24 priorities 1 Developing new product

  14. Slide 14: Thank you for listening

    Thank you for listening Please contact IR@flugger.com for any further questions or visit flugger.com/investor 14 14

Flügger Group — Q1 2023/24 Earnings Presentation on 6ix