Nobia Ab · OMXSTO:NOBI
Nobia Ab — Q2 2023 Earnings Presentation
10 slides from Nobia Ab's earnings presentation, 2023
Slide 1: Q2 2023 Results Presentation
Q2 2023 Results Presentation Jon Sintorn, CEO Henrik Skogsfors, CFO
Slide 2: Nobia Group, highlights Q2
Nobia Group, highlights Q2 • Market weakness continued 2022 Q2 2023 Q2 • Price increases mitigate inflationary pressure, however Net sales (SEKm) 3,890 3,562 pressure on profit due to the volume decline Organic growth (%) 3 -13 • Cost reduction program in progress and according to plan. SEK ~70m of
Slide 3: Kitchen market development
Kitchen market development Nordic market: Softer consumer/retail market. Project market decline as housing starts decrease and housing completions taper off. UK: Retail market softer. Trade market on par with last year. Project market remains weak. Austria and Netherlands: Retail market softer. Stab
Slide 4: Direct material pricing impact update Q2
Direct material pricing impact update Q2 Packaging & • Inflationary pressure still high, but tapering off Chemicals Joinery 5% − Sequentially; decrease from peak in Q4 2022 6% − Year-on-year; a slight increase in DM price Appliances Frontals 26% 13% • Decline in material prices upstream should gradu
Slide 5: Nordic region Q2
Nordic region Q2 Share of Group sales, % Share of R12 sales by country Finland • Organic net sales declined -17% (6) 14% Denmark – Declines across all customer segments, most in retail Nordic 41% Norway 52% 19% • Volume decline and mix shift main explanations for EBIT Sweden and margin decline 26% •
Slide 6: UK region Q2
UK region Q2 Share of Group sales, % Share of R12 sales by segment Other UK Retail • Organic growth decline of -16% (5) 32% 20% 31% • Volume decline has large impact on earning Project 15% Trade • Favourable impact from higher average order values 34% and restructuring measures • Restructuring progr
Slide 7: Portfolio Business Units Q2
Portfolio Business Units Q2 Share of Group sales, % Share of R12 sales by country PBU Other • Organic net sales growth 14% (-11% prior year Q1) 16% 16% • Prior year Q2 impacted by the cyber security incident in Austria Netherlands the Netherlands that limited production and shipments 35% 49% • Singl
Slide 8: Financial position
Financial position Cash flow 2022 Q2 2023 Q2 Cash flow from operating activities 694 66 Operating cash flow 286 -276 • Lower cash flow from operating activities mainly due to working capital timing and mix effects Of w. operating profit* 62 61 Of w. change in working capital 391 -153 • Investments i
Slide 9: Priorities going forward
Priorities going forward • Even further intensified sales activities • Continued capacity adjustments • Direct material price reductions • Continue execution of cost-out program • Leverage reduction • Jönköping factory 9
Slide 10: Nobia - Designing Kitchens for Life