Duni Ab · OMXSTO:DUNI

Duni Ab — Q2 2012 Earnings Presentation

19 slides from Duni Ab's earnings presentation, Jul 13, 2012

  1. Slide 1: Q2 Presentation 2012

    Q2 Presentation 2012 13 July, 2012

  2. Slide 2: Disclaimer

    Disclaimer • This presentation has been prepared by Duni AB (the “Company”) solely for use at this investor presentation and is furnished to you solely for your information and may not be reproduced or redistributed, in whole or in part, to any other person. By attending the meeting where this prese

  3. Slide 3: 2012 Q2 Highlights

    2012 Q2 Highlights • Net sales SEK 934 m (960) • Professional sales behind last year; -2.2% – Weaker macro economic environment • Underlying operating affecting consumer confidence. income SEK 90 m (88) – Albeit volume decrease, profitability improved thanks to strong gross margin • Underlying opera

  4. Slide 4: Market Outlook

    Market Outlook • HORECA market long-term growing in line or slightly above GDP – Positive eating out trend. – Higher growth in take-away sector. • Slowdown in Europe related to sovereign debt crisis affects demand. • HoReCa sector deteriorated in the second quarter – Sweden one of few markets with p

  5. Slide 5: HORECA Sales Development Germany (April 2012)

    HORECA Sales Development Germany (April 2012) HoReCa total 5

  6. Slide 6: Restaurant Sales Development, Sweden (May 2011 – May 2012)

    Restaurant Sales Development, Sweden (May 2011 – May 2012)  +5.6% in volume in May and +5,7% in value. 6

  7. Slide 7: Business Areas

    Business Areas

  8. Slide 8: Professional

    Professional –Strong gross margin Sales and EBIT 1) Geographical split – sales Q2 2012 Net sales Q2 2012 Q2 2011 Growth Growth at Professional fixed exchange 3 000 16% rates 14% 2 500 12% 2 000 Nordic 160 162 ­1.2% ­1.2% SEK millions 10% Central 1 500 8% Europe 402 418 ­3.8% ­3.8% 6% 1 000 4% South

  9. Slide 9: Consumer (formerly Retail)

    Consumer (formerly Retail) – Recovering from weak Quarter 1 Sales and EBIT 1) Geographical split - sales Q2 2012 Net sales Q2 2012 Q2 2011 Growth Growth at Consumer fixed exchange 1 000 6% rates 4% 800 Nordic 18 21 ­14.3% ­14.3% 2% Central Europe 103 104 ­1.0% ­1.9% SEK millions 600 0% South & East

  10. Slide 10: Tissue

    Tissue – Stable versus last year Sales and EBIT Sales mix Q2 2012 600 14% External 500 12% 44% 400 10% 8% 300 6% Internal 200 4% 56% 100 2% 0 0% 2008 2009 2010 2011 LTM 2012 • Slightly better capacity utilization. Sa les EBIT Ma r g in • Trial runs and installation of new equipment influenced Q2 neg

  11. Slide 11: Financials

    Financials 11

  12. Slide 12: Operating Margin 9.6%

    Operating Margin 9.6% Q2 Q2 Q2 Q2 Q2 FY 2012 2011 YTD YTD LTM 2011 SEKm 2012 2011 2012 Net sales 934 960 1 790 1 827 3 769 3 807 Gross profit 245 241 472 468 1 035 1 031 Gross margin 26.2 % 25.1 % 26.4 % 25.6 % 24.5 % 27.1% Selling expenses ­108 ­110 ­230 ­227 ­444 ­441 Administrative expenses ­40 ­

  13. Slide 13: Operating margin improving in Professional and Consumer

    Operating margin improving in Professional and Consumer Q2 Q2 Q2 Q2 Q2 FY 2012 2011 YTD YTD LTM 2011 SEKm 2012 2011 2012 Professional Net sales 699 717 1 324 1 320 2 770 2 766 Operating income1) 90 91 151 144 365 357 Operating margin 12.9% 12.7% 11.4% 10.9% 13.2% 12.9% Consumer Net sales 126 135 253

  14. Slide 14: Strong Cash Flow

    Strong Cash Flow Q2 Q2 Q2 Q2 Q2 FY 2012 2011 YTD YTD LTM 2011 SEKm 2012 2011 2012 EBITDA1) 118 114 206 208 515 511 Capital expenditure ­27 ­81 ­66 ­119 ­323 ­377 Change in; Inventory 12 29 ­4 ­26 ­54 ­37 Accounts receivable ­57 ­87 18 ­61 ­6 ­36 Accounts payable ­1 61 ­16 ­8 ­70 ­8 Other operating w

  15. Slide 15: Net Debt stable despite major investments LTM

    Net Debt stable despite major investments LTM SEKm Q2 2012 Q2 2011 FY 2011 Goodwill 1 199 1 199 1 199 Tangible and intangible fixed assets 891 703 888 Net financial assets1) 204 248 210 Inventories 469 467 470 Accounts receivable 636 704 663 Accounts payable ­282 ­311 ­302 Other operating assets and

  16. Slide 16: Strategic challenge

    Strategic challenge

  17. Slide 17: Financial Targets

    Financial Targets Q2 LTM 2012 • Organic growth of 5% over a -2,0% Sales growth > 5% business cycle (at fixed exchange rates) • Consider acquisitions to reach new markets or to strengthen current market positions • Top line growth – premium focus 10,6% EBIT margin > 10% • Improvements in manufacturin

  18. Slide 18: Exploring Different Growth Paths

    Exploring Different Growth Paths Core geography New geography New Horeca Concept concepts expansion Market Platform Table top Penetration expansion Supported by new organizational structure 18

  19. Slide 19: Thank you!

    Thank you! 19

Duni — Q2 2012 Earnings Presentation on 6ix