Elektroimportoren As · OSL:ELIMP
Elektroimportoren As — Elektroimportøren — Q4 2021 Earnings Presentation
22 slides from Elektroimportoren As's earnings presentation, Feb 10, 2022
Slide 1: Elektroimportøren 4th quarter presentation
Elektroimportøren 4th quarter presentation February 10 2022 Andreas Niss CEO, Petter Bjørnstad CFO
Slide 2: Summary of Q4
Summary of Q4 Revenue of 458.9 MNOK (451.7 MNOK) up 1.6%, 2019 revenue was at 312 MNOK. For the full year 2021 sales grew with 13.0%. Online share of total sales (excluding pick up in store) 12,5% (13.7%). B2B sales have increased with 19.6% compared to last year, while B2C sales had a decrease with
Slide 3: Key take aways
Key take aways % B2B sales continue to grow Increase in GM % Increase in average basket Some decline in footfall
Slide 4: More than 700 installations made in Q4
More than 700 installations made in Q4 Total sales in Q4 MNOK 6.7 Total sales 2021 1300+ installations and MNOK 15 in sales Continue to develop the offer and driving customers through joint marketing with Elektroimportøren
Slide 5: Revenues Q4
Revenues Q4 We continue to grow sales to B2B significantly more than market growth Exceptional sales growth in B2C in Q4 2020, so tough comparables
Slide 6: Gross margin for Q4
Gross margin for Q4 We have a positive development in Gross margin percentage in Q4 with 40.5% (39.6%) Main drivers for improvement; Increase in Namron margin Price adjustments to mitigate increase in freight costs and price increases from suppliers We have been a bit conservative when phasing bonus
Slide 7: OPEX Q4
OPEX Q4 Total Costs 10,8 MNOK higher than Q4 last year Higher electricity costs and increase in distribution costs to B2B customers in Like-for-Like stores 3.0 MNOK (personnel costs in line with last year) Costs in new stores (Klepp, Jessheim and Stavanger) 3.5 MNOK Online 0.5 MNOK B2B operation 1.5
Slide 8: Adj. EBITDA Q4
Elektro importoren Adj. EBITDA Q4 Adjusted EBITDA bridge Q4 2020 to Q4 2021 75 70 40 65 04 60 55 50 45 40 35 30 25 Adj EBITDA Q4 2020 LFL physical stores Online New stores Operating costs Adj EBITDA Q4 2021
Slide 9: Events after the period and outlook
Events after the period and outlook Opening of store number 26 in Kristiansund We got certified according to «Miljøfyrtårn» the only national certification that is recognized within EU Finalizing the acquisition of Elbutik and start the work with our new colleagues We expect Q1 to have a similar dev
Slide 10: Elektroimportøren moving into Sweden
Elektroimportøren moving into Sweden
Slide 11: Elektroimportøren acquires the leading online player in Sweden
Elektroimportøren acquires the leading online player in Sweden • Elektroimportøren AS has acquired 100% of Elbutik Scandinavia AB (ESA) and its subsidiaries. • Opening up and enabling market entry into the Swedish SEK 15 bn market • Solid base for a roll-out of physical stores in Sweden, and substan
Slide 12: Strategic growth areas
Strategic growth areas • Continue Norwegian growth journey – Grow online and store network – Increase market share in B2B – Widening product offering of Namron brand • Market penetration of Spoton • Swedish expansion – Through an acquisiton – Through a joint venture – Greenfield
Slide 13: The Swedish market
The Swedish market Commercial Renovation Main customers New Commercial Commercial Main customers L/M/S contractors Standalone electricians Large contractors Industrial Farmers ~3.6 SEK bn commercial and Industrial public buildings ~10 SEK bn Residential Renovation is the most important market in our
Slide 14: Competitor landscape
Target customer group B2B B2Cc Competitor landscape MALMBERGS ahlsell @ Elektroskandia Seige Store! onninen “.SELGA solar CIBIAUHIAUIS] Other examples of @UEA) clas ohison elbutiickse retailers are Lysman, SBILTEMA FY a Eldirekt, Elon and XL bygg Narrow Broad Product assortment > =E
Slide 15: Elbutik Scandinavia – many similarities to Elektroimportøren anno 2014
Elbutik Scandinavia – many similarities to Elektroimportøren anno 2014 • Established in 2006 160000 • Family owned company 140000 • Located in Staffanstorp (Malmö) 120000 • Leading online store for electronic installation material to private consumers 100000 • Strong historical growth in sales and p
Slide 16: Elbutik vs Elektroimportøren comparison
• Turnover 2021 • Turnover 2021 – MSEK 150 E – MNOK 1.485 • EBITDA 2021 • EBITDA 2021 – MSEK 16,5 E – MNOK 168 • Employees • Employees – 25 – 450 • Online pureplayer • Omnichannel player • No physical stores • 26 physical stores • Customer offer • Customer offer – Wide range/Fast Deliveries/Low pric
Slide 17: Why an acquisition?
Why an acquisition? • Elbutik offers us – Deep insight in the consumer market – Product assortment knowledge, being essential due to different requirements in Norway and Sweden – A well established brand – A profitable business with vast growth potential – A strategic fit and a great base to grow fr
Slide 18: A perfect strategic match
A perfect strategic match Bx Elek Elektro elbutik{use importeren erence aarer EA
Slide 19: Building a Swedish omnichannel champion
Building a Swedish omnichannel champion • Building on our experience from the last 8 years with Elektroimportøren to incrase the commercial activities and to conseptualize and professionalize the business. • Using our knowledge within retail and store roll-out from Norway to build up a Swedish omnic
Slide 20: Elbutik – 2022, key priorities
Elbutik – 2022, key priorities • Establish a matrix organisation • Strong local leadership supported by strong business knowhow • Continue to grow the existing business in turnover and profit • Capitalize on synergies in purchasing and marketing • Introduce Namron • Open, up to, two stores in order
Slide 21: Estimated roll-out plan
Estimated roll-out plan # of stores 14 12 Possible regions of store roll-out 10 Stockholm x5 Göteborg x2 8 Malmö Uppsala Västrås 6 Örebro Linköping 4 Helsingborg 2 0 2022 2023 2024
Slide 22: Q&A
Elekurea imiparkeren Q&A