Slide 1: Midsona Interim Report Quarter 1, 2025
Midsona Interim Report Quarter 1, 2025
Slide 2: Forward-looking statements
This presentation may contain forward-looking statements. Such statements are based on current expectations and are subject to risks and uncertainties that could negatively affect our business. Please refer to our 2024 annual and sustainability report for a better understanding of these risks and un
Slide 3: Priorities 2025
Priorities 2025 Priorities Q1 Progress • Consistent brand driven growth ✓ +1,6% organic growth for own brands • Increase production output to fully meet demand ✓ Ramp-up in both Ascheberg and Castellcir plants • Operational efficiency ✓ Lower unit cost after ramp-up • Sourcing efficiency ✓ Josefin K
Slide 4: Q1 2025 summary and financial highlights
Q1 2025 summary and financial highlights Summary Financial highlights • Organic sales growth Net sales EBIT1 EBIT1 margin • Brands leading the way SEK 937 m SEK 37 m 3.9% (SEK 929 m) (SEK 38 m) (4.1%) • Gross margin slightly down vs YA • Capacity build up in Germany and Spain +1.4% organic change -1
Slide 5: Portfolio highlights
Portfolio highlights Organic products ● Organic growth of 5% ● Growth picking up for part of brand portfolio ● Continued strong growth for Private Label 57% ● New listings / contracts which will help growth in 2nd half of quarter two Health foods ● Organic decline of -4% ● Launch of Friggs in Denmar
Slide 6: Division highlights
Division highlights Division Nordics ● Own brands showed organic growth of +4% 2025 2024 vs PY ● Sales decline due to discontinued licensed brands Net Sales 598 602 -1% ● Temporarily higher sales and marketing support supporting major launhes 63% EBIT1 48 56 -14% Division North ● Continued sales gro
Slide 7: Gross margin (GM) management
Gross margin (GM) management GM1 (vs YA) Status • Less sales of high(er) margin consumer health products due to slow flu season • Unfavourable country mix Nordics • Discontinuation of low margin Private Label sales • Discontinuation of low margin licensed brands • Extra cost for ramp up in the Asche
Slide 8: We continue to implement our strategy
We continue to implement our strategy …… 8
Slide 9: Time for CEO Succession
Time for CEO Succession •As previously announced, Peter Åsberg, will leave as President and CEO of Midsona AB •Henrik Hjalmarsson starts June 1 and takes over as President and CEO of Midsona June 23 • Strong background in FMCG • Leadership experience from big public and private equity owned companie
Slide 10: Financial review CFO Max Bokander
Financial review CFO Max Bokander
Slide 11: Financial Summary
Financial Summary MSEK Q1 2025 Q1 2024 Change Comments QTD Net Sales 937 929 8 • Net Sales +0.9% vs -4.6 LY 1 GM% 28,6% 29,0% -0,4% EBIT1 37 38 -1 • GM% declined slightly, mainly from negative EBIT%1 3,9% 4,1% mix IAC -13 0 Net financing costs -10 -14 • EBIT -1m from slightly weaker GM and EBT 14 24
Slide 12: Q1 Net Sales
Q1 Net Sales MSEK Net Sales change Organic growth2 by brand type % of NS Own Brands - consumer 1,6% 63% -0.5% Own Brand - B2B -6,3% 6% +1.4% (-4.2%) Private Label 9,5% 21% +0.9% Licensed Brands -10,5% 10% 1 2 1) Potential impact from effect fromdivestments or acquisitions of business and/or brands 2
Slide 13: Q1 EBIT
Q1 EBIT1 MSEK MSEK EBIT1 change EBIT1 trend 40 38 140 37 38 37 35 120 Organic GM 30 growth -0,4 p.p. 100 1.4% 25 21 80 20 4.1% 3.9% 15 60 10 40 -1 m (-0.2 p.p.) 5 20 0 -5 0 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 QTD R12 1) Before items affecting comparability 13
Slide 14: Q1 Cash Flow from operating activities
Q1 Cash Flow from operating activities MSEK MSEK QTD Cash flow1 breakdown Cash flow1 trend 180 400 160 350 140 300 120 35 100 250 Depreciation 12m 82 Amortization 80 12m 200 Other 13m 60 14 35 150 40 21 20 100 0 50 -20 NWC -20 m in cash effect -40 0 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3
Slide 15: Available cash and Net Debt
Available cash and Net Debt MSEK Available Cash MSEK Net Debt and X 800 19% 20% 900 Net Debt / adj. EBITDA2 5,0 740 18% 700 17% 17% 4,5 800 773 651 16% 626 628 634 4,3 721 4,0 600 700 575 575 678 14% 3,5 507 600 500 12% 543 3,0 446 525 500 496 501 400 10% 451 2,5 400 407 8% 2,4 300 2,0 300 577 612 6
Slide 16: Q&A
Q&A