Fodelia Oyj · OMXHEX:FODELIA
Fodelia Oyj — FY2023 Earnings Presentation
26 slides from Fodelia Oyj's earnings presentation, Feb 7, 2024
Slide 1: Fodelia Group Financial Statements 2023
FODELIA GROUP FINANCIAL STATEMENTS 2023 7.2.2024 CEO Mikko Tahkola and CFO Kati Kokkonen
Slide 2: We grow Finnish food industry companies into success stories
”We grow Finnish food industry companies into success stories. Our goal is to be the most wanted and most successful innovator of food industry.”
Slide 3: Agenda
1 Financial development and highlights in 2023 2 Market and business development 3 Strategy and future 4 Q&A
Slide 4: Financial development and highlights in 2023
1/4 Financial development and highlights in 2023
Slide 5: Net sales for January–December increased by 18%, profitability improved clearly
FODELIA GROUP'S NET SALES FOR JANUARY–DECEMBER INCREASED BY 18%, PROFITABILITY IMPROVED CLEARLY • Group’s net sales were EUR 48.965 thousand (41,621 thousand) growing 17.6% • Group EBITDA was EUR 4,575 thousand and 9.3% of net sales (adjusted 2022: EUR 2,480 thousand and 6.0% of net sales) • Group E
Slide 6: Net sales for January–December increased by 18%, profitability improved clearly
FODELIA GROUP'S NET SALES FOR JANUARY–DECEMBER INCREASED BY 18%, PROFITABILITY IMPROVED CLEARLY • The Group's net sales increased by 18% in January– December compared to the previous year • Growth came in particular from Feelia’s new care and early childhood education customers and Marjavasu’s busin
Slide 7: Summary for July–December and October–December 2023
Summary for July–December 2023 • Group net sales grew by 11.3% and amounted to EUR 24,706 thousand (EUR 22,190 thousand) • Group EBITDA was EUR 2,627 thousand and 10.6% of net sales (adjusted 2022: EUR 1,204 thousand and 5.4% of net sales) • Group EBITA was EUR 1,750 thousand (adjusted 2022: EUR 464
Slide 8: Group's net sales development quarterly 2022-2023
Group’s net sales development quarterly 2022-2023 14 000 000 • Group net sales grew by 12 000 000 10.6% and amounted to EUR 12,457 thousand (EUR 11,266 10 000 000 thousand) 8 000 000 6 000 000 4 000 000 2 000 000 0 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Finnish vitality and
Slide 9: Feelia's external net sales development quarterly 2022-2023
Feelia’s external net sales development quarterly 2022-2023 8 000 000 • Feelia’s external net sales increased by 7 000 000 21.9% in January–December, while its intra-Group net sales decreased by 27.6% 6 000 000 • Feelia's external net sales growth in the 5 000 000 last quarter was 23.7% 4 000 000 3
Slide 10: Fodelia Retail net sales development quarterly 2022-2023
Fodelia Retail net sales development quarterly 2022-2023 6 000 000 • Fodelia Retail’s net sales were close to 5 000 000 the previous year’s level, increasing by 1.2% in January–December 2023 4 000 000 • The snacks business net sales grew by 18.8% in 2023 • E-commerce net sales (Feelia 3 000 000 Ruok
Slide 11: Group's comparable EBIT development 2022-2023
Group’s comparable EBIT development 2022-2023 1 200 000 • In January–December, the Group's comparable EBIT increased by 251.3% year-on-year and amounted to EUR 2,521 1 000 000 thousand (adjusted 2022: EUR 718 thousand) 800 000 • The Group’s EBITA for January–December amounted to EUR 2,965 thousand a
Slide 12: Group key figures: net sales and adjusted EBITDA
10–12/ 10–12/ Change 7–12/ 7–12/ Change 1–12/ 1–12/ Change Group 2023 2022 -% 2023 2022 -% 2023 2022 -% Net sales 12,457 11,266 10.6 24,706 22,190 11.3 48,965 41,621 17.6 Adjusted EBITDA * 1,126 611 84.4 2,627 1,204 118.2 4,575 2,480 84.5 % of net sales 9.0 5.4 10.6 5.4 9.3 6.0 EBITDA 1,126 1,000 12
Slide 13: Market and business development
2/4 Market and business development
Slide 14: Municipal savings are expected to create new demand for food services
Municipal savings are expected to create new demand for food services Fodelia’s foodservice-market in Finland in numbers* Day care, school and student meals • Number of customers: about 1.6 million customers per day • Number of meal: about 350 million meals per school year (10 months) • Market size:
Slide 15: Fodelia's solutions for public food services
Fodelia’s solutions for public food services 1 Single products from Feelia 2 Outsourcing food preparation to Feelia 3 Outsourced service including food and staff from Fodbar Finnish vitality and growth
Slide 16: Feelia's net sales growth remained strong
Feelia’s net sales growth remained strong • Feelia's total net sales grew by 16.2% in January– December 2023 and by 17.2% in October–December 2023 • Feelia’s profitability improved significantly in 2023, the EBIT was and 9.3% of net sales Key figures / Feelia 10–12/ 10–12/ Change 7–12/ 7–12/ 1–12/ 1
Slide 17: Feelia seeks growth from early childhood education market
Feelia seeks growth from early childhood education market • In Finland over 234 300 children participated in early childhood education in 2022 • Feelia puts effort to serve those customers • Feelia has developed products especially for day care customers • In 2023 Feelia gained two significant custo
Slide 18: Fodelia Retail's net sales close to previous year's level
Fodelia Retail’s net sales in January-December 2023 were close to the previous year’s level • Fodelia Retail remained at a low level in terms of profitability • The company's cost-cutting measures implemented in 2023 and the reorganisation of its operations will continue to support the improvement i
Slide 19: Fodelia Retail units performed at different levels
Within the Fodelia Retail business segment, the units performed at different levels • The snacks business in • E-commerce net sales (Feelia • Net sales from processed particular developed Ruokakauppa) decreased by meat and pita bread were positively, with the unit's 30.7% close to the previous net s
Slide 20: Other units
Other units Marjavasu • The business of Marjavasu developed very well in 2023 • Marjavasu's net sales in January–December amounted to EUR 3,674 thousand • A new packaging machine was ordered for Marjavasu's Kuopio plant in autumn 2023, and planning for the expansion of the production facility was st
Slide 21: Strategy and future
3/4 Strategy and future @ Fodelia
Slide 22: Long-term targets and outlook for 2024
Long-term targets and outlook for 2024 Long-term targets Dividend policy • The Group’s net sales in 2026 are over EUR 100 million • Fodelia strives to distribute at least 35% of its earnings • The Group’s operating margin is approximately 8-10% as dividends to shareholders. • The group’s return on i
Slide 23: Fodelia's factories have certified quality management systems
Fodelia’s factories have certified quality management systems • Feelia’s factory in Pyhäntä has FSSC 22000 – • Real Snacks and Pita Factory factories have BRC-certificates certificate • Perniön Liha factory has FSSC 22000 -certificate • Feelia’s factory in Kokkola has ISO 22000 -certificate • Feelia
Slide 24: Fodelia's Strategy: Finnish vitality and growth
‘Owning viable companies in the food industry and developing them over tthe long term Fodelia’s Strategy . LN > Supporting the growth of our subsidiaries business by giving them possibilities to invest and by offering competence and best practices to use ‘The most wanted and the ‘most successful inn
Slide 25: Q&A
4/4 Q&A
Slide 26: Thank you!
Thank you! Contact details: mikko.tahkola@fodelia.fi Mobile phone +385 408 290 195