Viva Wine Group AB · OMXSTO:VIVA
Viva Wine Group AB — Q1 2023 Earnings Presentation
25 slides from Viva Wine Group AB's earnings presentation, May 2023
Slide 1: Slide 1
Slide 2: Viva Wine Group Quarterly Results Q1 2023
Viva Wine Group Quarterly Results Q1 2023
Slide 3: Agenda
Agenda Introduction to Viva Wine Group Quarterly Update Financial Overview Sustainability Update Final Comments Q&As Emil Sallnäs Linn Gäfvert CEO & Founder CFO
Slide 4: Introduction to Viva Wine Group
Introduction to Viva Wine Group
Slide 5: Nordic leader in wine with three strong, growing segments
Three strong, growing The Nordic leader in wine, Strong mix of own brands Pioneer and industry leader segments, share of net sales in the stable monopoly and partner brands in sustainability markets 61% Sweden #1 18% Nordics Sweden Finland Norway 21% eCom
Slide 6: Operating companies
Operating companies Sweden eCom Finland & Norway
Slide 7: Quarterly Update
Quarterly Update
Slide 8: Stable but challenging start of the year
Stable but challenging start of the year • Record market shares in Sweden and Nordics. Volumes stronger than underlying market. • Net sales increased by 1,3% in Q1 to 883 (871) SEK million despite overall market growth declined. • Adj. EBITA mixed. Strong margins in eCom. Significant fx-impact in Sw
Slide 9: Strong position for growth
Strong position for growth • Record high market shares • Lean organisation, strong product pipeline and synergies across Nordics • Cost efficient e-commerce business with one warehouse and one team serving three platforms • Further expansion of Weinfürst D2C concept into new markets.
Slide 10: Financial Overview
Financial Overview
Slide 11: Growth in net sales - pressure on gross margin and EBITA margin
Growth in net sales - pressure on gross margin and EBITA margin Net sales, SEKm Gross margin, % Adjusted EBITA, SEKm +1,3% Adjusted EBITA margin -29,1% 871 883 25,2% 95 21,4% 68 10,9% 7,7% 2022 2023 2022 2023 2022 2023 QTD Q1 QTD Q1 QTD Q1 QTD Q1 QTD Q1 QTD Q1 • Increased net sales by 1,3%, 12 SEKm
Slide 12: Growth in net sales - pressure on EBITA
Growth in net sales - pressure on EBITA Net Sales per segment 2022 Q1 vs 2023 Q1, SEKm Adjusted EBITA per segment 2022 Q1 vs 2023 Q1, SEKm 27 14 0 883 871 - 23 -7 95 0 2 0 68 - 24 -6 Net Sales Sweden eCOM Nordics Other Eliminations Net Sales Adj. EBITA Sweden eCOM Nordics Other Eliminations Adj. EBI
Slide 13: Net working capital – lower than last year, positive trend to Net Sales
Net working capital – lower than last year, positive trend to Net Sales Net Working Capital, SEKm Net Debt, SEKm Net Working Capital Net debt NWC/Net Sales R12 Net debt to EBITDA R12 545 434 421 491 353 428 336 11,8% 10,9% 11,0% 133 1.1x 1.0x 10,0% 0.9x 0.4x Year Year Year YTD Mar 2020 2021 2022 202
Slide 14: Strong Cash Flow from Operating activities
Strong Cash Flow from Operating activities Cash Flow YTD, SEKm Comments • Strong Cash Flow from Operating activities of 84 SEKm. 84 -1 • Improved working capital of 50 SEKm driven by lower 390 -22 -8 -3 receivables partly offset by lower payables, in line with normal 339 seasonal pattern. • Repaymen
Slide 15: Segment Sweden
Segment Sweden Net Sales, SEKm Adjusted EBITA, SEKm Small selection of key product launches +5,3% Adjusted EBITA margin 541 514 -40,8% 58 35 11,4% 6,4% 2022 2023 2022 2023 QTD Q1 QTD Q1 QTD Q1 QTD Q1 • Net Sales increased with 5,3% vs Q1 2022, to 541 SEKm. Succesful launches and price increases acco
Slide 16: Segment Nordics
Segment Nordics Net Sales, SEKm Adjusted EBITA, SEKm Small selection of key product launches +10,1% Adjusted EBITA margin -30,4% 157 143 19 14 13,7% 8,6% 2022 2023 2022 2023 QTD Q1 QTD Q1 QTD Q1 QTD Q1 • Strong increase in Net Sales reaching 157 SEKm, an increase of 10,1% vs Q1 2022. Earlier Easter
Slide 17: Segment Viva eCom
Segment Viva eCom Net Sales, SEKm Adjusted EBITA, SEKm Highlights and KPIs -11,2% Adjusted EBITA margin 205 -2,2% • Increased Average Order Value and continued 182 20 20 Strong Gross margins on all shop platforms. • Further geographical expansion of Weinfürst. • Construction of new warehouse & distr
Slide 18: Sustainability
Sustainability
Slide 19: Sustainability update
Sustainability update • Presentation of 2022 Annual & Sustainability Report. Sustainability Report according to the latest GRI standards, reviewed and assured by EY Sweden. • KgCO2/litre down 1,7% • 75% of volume in climate efficient packaging • Several Sustainability KPIs met one year ahead of sche
Slide 20: Final Comments
Final Comments
Slide 21: Financial targets
Financial targets >4% • For the Swedish and Nordics segments, average annual organic growth is to total at least 4 percent over the medium term Growth 10-15% • For the E-commerce segment, average annual organic growth is to total at least 10–15 percent over the medium term M&A • In addition, Viva Wi
Slide 22: Final Comments: Turning headwind into tailwind!
Final Comments Turning headwind into tailwind! ‒ Strong product pipeline well suited for current market situation and consumer trends ‒ Further streamlining and cross- country coordination in Nordics ‒ One warehouse solution realizing synergies within eCom ‒ Further expansion of Weinfürst ‒ M&As, mo
Slide 23: Viva Wine Group
VIVA WINE GROUP”
Slide 24: Contact
info@vivagroup.se | +46 8 21 83 88 | vivagroup.se Viva Wine Group | Blasieholmsgatan 4A | Stockholm | Sweden
Slide 25: Slide 25