Slide 1: Year-end report January - December 2015
Year-end report January - December 2015 January 26, 2016 Magnus Agervald and Pernilla Walfridsson
Slide 2: Summary January – December 2015
Byggmax Summary January – December 2015 In the fourth quarter, Byggmax’s net sales increased 20.7 percent • Net sales amounted to SEK 839,3 M (695.4), up 20.7 percent for the fourth quarter, and to SEK 4,131.1 M (3,547.2), up 16.5 percent for the full year. • Net sales for comparable stores rose 16.
Slide 3: Summary January – December 2015
Byggmax Summary January – December 2015 • Seven (seven) new stores were opened: four in Sweden and three in Norway. – One new store was opened in the first quarter: one in Sweden – Four new stores were opened in the second quarter: two in Sweden and two in Norway. – One new store was opened in the t
Slide 4: Summary January – December 2015
Byggmax Summary January – December 2015 • On October 16 Byggmax signed an agreement with Buildor to acquire Buildor AB as of November 2, 2015. Byggmax acquires Buildor for a total of SEK 130 M, in a combination of initial price and earn-out. SEK 70 M is paid initialy for a debt free company, and the
Slide 5: Events after the close of the reporting period
Byggmax Events after the close of the reporting period • At the beginning of January, Byggmax completed the acquisition of Skånska Byggvaror Group AB. In connection with this transaction, Anders Johansson Eickhoff took up the position as President of Skånska Byggvaror and a member of Byggmax Group’s
Slide 6: Stores: new stores opened in 2015, 10-15 planned for 2016
Byggmax Stores: 7 new stores were opened in 2015 and openings are planned for 10-15 stores in 2016 Sweden Norway Finland Number of stores, Q4 2015 1 0 0 Store network at December 31, 2015 Planned openings, Q1 2016 1 0 0 Opened stores, 2015 4 3 0 The following stores have been opened in 2015: - Swede
Slide 7: Byggmax makes acquisitions within e-commerce
Byggmax Byggmax makes acquisitions within e-commerce During the fourth quarther Byggmax announced two acuisitions, Buildor AB and Skånska Byggvaror AB. The Buildor transaction was finalised in the quarter, and the Pro-forma sales and EBITDA for 2015 Skånska Byggvaror acquisition was Proforma 2015 ex
Slide 8: Short presentation of Buildor
Byggmax Short presentation of Buildor Buildors webpage Buildor is an on-line building materials retailer launched in 2013. The business idea is to offer a broad product range at competitive prices. The company has grown fast since 2013, with high customer satisfaction indeces. The last 12 months Bui
Slide 9: Short presentation of Skånska Byggvaror
Byggmax Short presentation of Skånska Byggvaror Hemsidan Skånska Byggvaror is an online based retailer in the do-it-yourself market for refined building material. The Company has operations in Sweden and Norway with an assortment focused on the building's interior and exterior environments, ranging
Slide 10: Accelerating growth in e-commerce
Byggmax Accelerating growth in e-commerce Sales growth, %, The assortment has increased, and compared to same quarter now we have more than 20 000 SKUs 2014 in Sweden and Norway. Also in Finland the assortment is increasing. 77 66 In the fourth quarter the e-commerce sales grew with 77%. 52 The pro-
Slide 11: Byggmax continues to invest, which weigh on the margin
Byggmax Byggmax continues to invest, which weigh on the margin Byggmax has a number of investment areas: expansion in Finland, the online store and construction services. In 2015, after depreciation and amortization, these areas resulted in a total charge of 2.3% on the EBIT margin. In other words,
Slide 12: 107 stores converted to 2.0
Byggmax 107 stores converted to 2.0 Byggmax 2.0 is an updated store concept, with more articles and clearer communication, utilizing the same sales area and with substantially improved sales control. Byggmax 2.0 stores continue to deliver promising sales increases following conversion. 13 stores wer
Slide 13: The Board of Directors proposes a dividend of SEK 2.14 per share
Byggmax The Board of Directors proposes a dividend of SEK 2.14 per share • The Board of Directors proposes a dividend of SEK 2.14 (2.6) per share • Byggmax dividend policy is to distribute at least 50 percent of net profits for the year December 2015 13
Slide 14: Financial information
Financial information January 26, 2016
Slide 15: Results trend
Byggmax Results trend Earnings overview October - December January - December 2015 2014 2015 2014 Net sales, SEK M 839.3 695.4 4,131.1 3,547.2 Gross margin, percent 32.4 32.5 30.6 31.1 EBIT, SEK M, excluding aquisition costs 44.8 37.9 341.4 296.8 EBIT, SEK M 35.5 37.9 331.7 296.8 EBIT margin, percen
Slide 16: Sales trend
Byggmax Sales trend The sales increase was divided according to the following: October – December 2015 January – December 2015 Comparable stores, local currency, percent 16.4 12.8 Non-comparable units, percent 6.7 4.7 Currency effects, percent -2.4 -1.1 Total, percent 20.7 16.5 • The operation’s net
Slide 17: Gross margin
Byggmax Gross margin Fourth quarter • The gross margin was 32.4 percent (32.5). Full year • The gross margin was 30.6 percent (30.9). For 2014, the gross margin was 31.1 percent including non-recurring items. 32,5 32,4 30,9 30,6 2014 2015 Q4 12 months December 2015 17
Slide 18: Operating expenses
Byggmax Operating expenses Fourth quarter • Personnel costs and other external expenses rose a total of SEK 42.6 M. • This was mainly attributable to expenses of SEK 9.6 M for stores opened after the fourth quarter of 2014. • Acquisition costs for Skånska Byggvaror and Buildor amounted to SEK 9.3 M.
Slide 19: Net financial items
Byggmax Net financial items Profit/loss from financial items October - December January - December SEK M 2015 2014 2015 2014 Group Profit from participations in Group companies 0.0 0.0 11.8 0.0 Comprehensive income from participations in Group companies 0.0 0.0 11.8 0.0 Financial income Exchange-rat
Slide 20: Financial position and cash flow
Byggmax Financial position and cash flow Oct 1, 2015 Oct 1, 2014 Jan 1, 2015 Jan 1, 2014 Amounts in SEK M Dec 31 2015 Dec 31 2014 Dec 31, 2015 Dec 31, 2014 Cash flow from operating activities before changes in working capital 44.2 53.9 351.1 309.0 Changes in working capital -320.8 -136.6 140.9 2.1 C
Slide 21: Condensed financial statements January – December 2015
Condensed financial statements January – December 2015 January 26, 2016
Slide 22: Income statement
Byggmax Income statement Oct 01, 2015 Oct 01, 2014 Jan 01, 2015 Jan 01, 2014 Amounts in SEK M Dec 31, 2015 Dec 31, 2014 Dec 31, 2015 Dec 31, 2014 Net sales 839.3 695.4 4,131.1 3,547.2 Other operating income 2.7 4.9 10.0 12.2 Operating income 842.0 700.3 4,141.1 3,559.4 Operating expenses Goods for s
Slide 23: Balance sheet
Byggmax Balance sheet Amounts in SEK M Dec 31, 2015 Dec 31, 2014 Amounts in SEK M Dec 31, 2015 Dec 31, 2014 ASSETS SHAREHOLDERS´ SHAREHOLDERS ´EQUITY AND LIABILITIES Fixed assets Shareholders´ equity 1,142.0 1,047.6 Intangible fixed assets 1,215.7 1,082.6 Tangible fixed assets 286.6 267.4 Liabilitie
Slide 24: Cash-flow statement
Byggmax Cash-flow statement Oct 1, 2015 - Oct 1, 2014 - Jan 1, 2015 - Jan 1, 2014 - Amounts in SEK M Dec 30, 2015 Dec 30 2014 Dec 31, 2015 Dec 31, 2014 Cash flow from operating activities EBIT 35.5 37.9 331.7 296.8 Non-cash items -Depreciation/amortization and impairment of intangible and tangible f
Slide 25: Cash-flow statement, continued
Byggmax Cash-flow statement, continued Oct 1, 2015 - Oct 1, 2014 - Jan 1, 2015 - Jan 1, 2014 - Amounts in SEK M Dec 31, 2015 Dec 31, 2014 Dec 31, 2015 Dec 31, 2014 Cash flow from investing activities Investment in intangible fixed assets -9.0 -4.6 -22.8 -12.0 Investment in tangible fixed assets -27.
Slide 26: Largest shareholders at December 31, 2015
Byggmax Largest shareholders at December 31, 2015 Name Number of shares Holding (% ) Nordea Investment Funds 6 406 178 10,55 Swedbank Robur fonder 5 322 418 8,76 SEB Investment Management 4 859 045 8,00 JPMorgan Asset Management (UK) Ltd. 3 035 975 5,00 Schroder Investment Management North America,