Nobia Ab · OMXSTO:NOBI
Nobia Ab — Q3 2021 Earnings Presentation
14 slides from Nobia Ab's earnings presentation, 2021
Slide 1: Q3 2021 Results Presentation
Q3 2021 Results Presentation Jon Sintorn, CEO Kristoffer Ljungfelt, CFO
Slide 2: Highlights Q3
Highlights Q3 • Good performance in the Nordics and Central Europe • Mixed performance in the UK − Continued growth in the trade segment whilst retail and project sales below pre-covid levels • Challenging supply chain in kitchen industry: direct material cost inflation and availability challenges •
Slide 3: Kitchen market development
Kitchen market development Nordic market: Stay-at-home trend, solid housing markets and consumer confidence continues to support retail sales. Stable B2B demand driven by housing construction activity. UK: Slower than anticipated recovery in the retail/consumer segment. London project market and soc
Slide 4: Direct material pricing impact update
Direct material pricing impact update • Significant upward pressure on direct material cost Packaging & and components Chemicals Joinery 5% 5% • Supply chain disruptions resulting in low availability Appliances for certain components and longer lead times Frontals 28% 14% • Pricing to customers adju
Slide 5: Nobia Group, Q3
Nobia Group, Q3 • Organic net sales increased 3% – High single-digit growth in Nordics and 2020 2021 Central Europe Q3 Q3 – Decline in Region UK Net sales (SEKm) 3,105 3,215 – Price increases • EBIT improved to SEK 228m (195) Organic growth, (%) -2 3 • EBIT margin increased to 7.1% (6.3) Gross margi
Slide 6: Tomorrow Together Strategy - priorities
Tomorrow Together Strategy - priorities Sustainability and Design Leadership ambition: Growth Acceleration initiatives: Leading the industry through reduced environmental • Catapult trade growth footprint and beautiful and purposeful design • Revitalise consumer retail • Reinforce project leadership
Slide 7: Construction of our new factory in Jönköping progressing according to plan
Construction of our new factory in Jönköping progressing according to plan 0.3 BnSEK >0.5 BnSEK value of capacity run rate savings increase 7
Slide 8: Net sales, rolling 12 months
Net sales, rolling 12 months Group by country The Austria Netherlands 5% 6% Finland 6% UK Magnet Magnet Retail 29% Trade 29% Norway 37% 10% Sweden 13% Benchmarx Project & 4% Denmark Other 38% 23% 8
Slide 9: Nordic region, Q3
Nordic region, Q3 • Organic net sales increased 8% 50% of Q3 Group sales – Denmark & Sweden driving growth – Strong demand for painted kitchens 2020 2021 Q3 Q3 – Improved project market in Finland Net sales (SEKm) 1,491 1,607 • Higher average order values and favorable mix due to strong retail devel
Slide 10: UK region, Q3
UK region, Q3 • Organic net sales down 4% (vs 2020) 40% of Q3 Group sales – Continued growth in Magnet trade – Retail sales below last year and 2019 2020 2021 – Construction in London and social housing have Q3 Q3 not recovered – Benchmarx account discontinued. Adjusted for this, Net sales (SEKm) 1,
Slide 11: Central Europe region, Q3
Central Europe region, Q3 • Organic net sales growth 7% 10% of Q3 Group sales – Strong consumer demand in Austria 2020 2021 – Good demand in social housing and new housing Q3 Q3 needs drives sales in Netherlands • EBIT and margin lower due to direct Net sales (SEKm) 319 334 material cost increases O
Slide 12: Financial position
Financial position Cash flow 2020 2021 Q3 Q3 Operating cash flow 484 123 • Operating cash flow of SEK 123m (484) Of w. operating profit 195 228 – Investments related to the new factory in Of w. change in working capital 99 -72 Jönköping Of w. investments in fixed assets -50 -230 – PY impacted by gov
Slide 13: Summary
Summary • Good performance in the Nordics and Central Europe • Mixed performance in the UK − Continued growth in the trade segment whilst retail and project sales below pre-covid levels • Challenging supply chain in kitchen industry: direct material cost inflation and availability challenges • Price
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