Slide 1: Interim report 1 January – 31 March 2022
Interim report 1 January – 31 March 2022 2022-04-28
Slide 2: Presenters
Presenters Clein Johansson Ullenvik Irene Wisenborn Bellander President & CEO CFO 2
Slide 3: Alligo at a glance
within eight defined industry segments: Manufacturing, Construction industry, Public sector, Transport and storage, Repair and maintenance, Agriculture and forestry, Fishing and aquaculture and Oil and gas. Alligo at a glance Through the concept brands Swedol, Tools, Grolls and Univern, alongside lo
Slide 4: Alligo at a glance
Alligo at a glance Revenue EBITA Revenue per geographic area 2021 per geographic area 2021 per brand category 2021 Total revenue: MSEK 8,475 Total EBITA: MSEK 645 (7.6%) Own brands = 20% 15% 3% External brands = 80% 12% 25% 85% 59% Sweden Norway Finland Sweden Norway Finland Number of stores* per ge
Slide 5: Alligo at a glance
Alligo at a glance • The Nordic main markets – revenue of approximately SEK 50 billion per year • Customers – a combination of small Transport and and medium-sized enterprises, Manufacturing Construction Public sector large industrial companies, and the storage public sector within eight defined seg
Slide 6: Agenda
AGENDA • Highlights Q1 2022 • Business update • Non-financial targets • Financials • Summary and outlook • Q&A All figures in the presentation apply to continuing operations unless otherwise stated
Slide 7: Q1 in brief
Q1 in brief • Split between Alligo and Momentum Group completed ̶ Extraordinary General Meeting on March 23rd, - distribution of all shares in Momentum Group to the shareholders of Alligo. Furthermore, a new Board of Directors was elected. Göran Näsholm was elected as Chairman • Two acquisitions fin
Slide 8: Our desired position – from different perspectives
Our desired position – from different perspectives WE WANT TO BE A FULLY INTEGRATED COMPANY Customers Offering Go-to-market • We focus on professional • We offer a product assortment • We meet our customers where customers in eight defined with focus on consumables and a they want to meet us – throu
Slide 9: Status of the extensive integration efforts to build Alligo
Status of the extensive integration efforts to build Alligo • Merger of Swedol and Tools ̶ Store integration ̶ Implementation of Nordic standard assortment ̶ Coordination of the logistics ̶ Pricing system system Sweden ̶ ERP Sweden ̶ Legal structure • Common core values throughout the entire company
Slide 10: Alligo's integrated Nordic logistics function
Alligo’s integrated Nordic logistics function - From 20 to 7 warehouses and units since mid-2020 . Skedsmokorset 5,500 sqm ~ 59,202 sq feet Rosenholm 5,000 sqm ~ 53,820 sq feet Stavanger 3,000 sqm ~ 32,292 sq feet Kotka 3,000 sqm ~ 32,292 sq feet Sandnes 1,500 sqm ~ 16,146 sq feet Örebro 28,000 sqm
Slide 11: Logistic Centre Örebro
Logistic Centre Örebro - a compact, automated warehouse system . • Alligo’s largest centre - a modern facility that currently covers an area of about 28,000 sqm ̶ Expanded in 2020 with + 9,250 sqm ~ 99,600 sq feet ̶ Capacity is continuously increasing • Further investments in automation are being ma
Slide 12: Non-financial targets
Non-financial targets Responsible supplier Sickness-related Share of female relations Customer satisfaction absence managers Climate impact 100% >75 <5% >30% CO2 All significant All concept brands Sickness-related The share of female Carbon dioxide suppliers must have in all of the group’s absence a
Slide 13: Financials
FINANCIALS 13
Slide 14: Group in summary
Group in summary Revenues and EBITA Highlights Q1 • Revenue increased by 6.5 % to MSEK 2,095 (1,968) ̶ Organic growth 2.7% 2022 ∆, % 2021 31/03/2022 2021 ̶ Positive currency effects 2.6% MSEK Jan-Mar Jan-Mar 12 months to Jan-Dec • EBITA increased by 28 % to MSEK 105 (82) Revenue 2,095 6.5 1,968 8,54
Slide 15: Revenues and EBITA per market Q1
Revenues and EBITA per market Q1 Sweden Norway Finland MSEK % MSEK % MSEK % 1500 18 700 7 400 6 600 6 1250 15 300 500 5 4 1000 12 400 4 200 2 750 9 300 3 0 500 6 200 2 100 -2 250 3 100 1 0 0 0 -4 0 0 Q1 2020 Q1 2021 Q1 2022 Q1 2020 Q1 2021 Q1 2022 Q1 2020 Q1 2021 Q1 2022 Revenue, MSEK EBITA, % Reven
Slide 16: Cash flow impacted by assortment-merge, supply-side disruptions, and prepayments
Cash flow impacted by assortment-merge, supply-side disruptions, and prepayments Q1 Operating activities Q1 Operating, investing and financing activities • Lower operating cash flow compared to Q1 last year due to • Investing activities decreased accounts payable, prepayments to own brand ̶ Implemen
Slide 17: Strong financial position
Strong financial position Overview of the financial position Key figures MSEK 31 Mar 2022 31 Dec 2021 • Ratio of net operational liabilities Non-current interest bearing liabilities 2,227 2,095 to EBITDA (excl. IFRS 16) of 2.0 Current interest bearing liabilities 346 463 • Unutilized credit faciliti
Slide 18: Summary and outlook
SUMMARY AND OUTLOOK 18
Slide 19: Four overarching themes for 2022
Four overarching themes for 2022 Continue the Get on track with Improve Make our coordination work and growth and margins collaboration and people grow ascertain impact of in all parts of our processes ongoing activities business • Continue work with • Assortment harmonisation • Clear view of what •
Slide 20: Outlook
Outlook • Large changes in the operations, preventive measures taken to make the transformation as smooth as possible ̶ New common price system ̶ Implementation of IT and ERP systems in Tools ̶ Relocation of the logistic centre from Alingsås to Örebro • Continued uncertainty in the supply chain due
Slide 21: Q&A
Q&A 21
Slide 22: Appendix
APPENDIX 22
Slide 23: Financial targets
Financial targets Dividend Organic growth EBITA margin Indebtedness >5% >10% <3X 30-50% of net profit Average organic growth EBITA margin shall be Ratio of net operational Dividend as a percentage shall exceed 5% per year more than 10% per year liabilities to EBITDA of net profit shall amount over a
Slide 24: Five reasons to invest in Alligo
Five reasons to invest in Alligo 1 2 3 4 5 Attractive Scalable Own brands Sustainability A leader market growth platform is and services as an in the and resilient a foundation increase integrated consolidation customer for continued competitiveness part of the of the segments growth and profitabili
Slide 25: Revenue bridge first quarter 2022
Revenue bridge first quarter 2022 Revenue year-on-year Q1 +6.5% 1.7% 2,095 2.6% -0.5% 2.7% 1,968 Revenue Q1 2021 Comparable stores Currency effects Number of Other units Revenue Q1 2022 in local currency working days 25
Slide 26: Condensed consolidated income statement
Condensed consolidated income statement 2022 2021 31/03/2022 2021 MSEK JAN–MAR JAN–MAR 12 months to JAN–DEC Revenue 2,095 1,968 8,544 8,417 Other operating income 27 26 92 91 Total operating income 2,122 1,994 8,636 8,508 Cost of goods sold -1,278 -1,182 -5,083 -4,987 Personnel costs -423 -423 -1,64
Slide 27: Condensed consolidated balance sheet
Cash and cash equivalents 40 370 286 Discontinued operations, assets held for distribution - - 973 Total current assets 3,452 3,620 4,546 Condensed consolidated balance sheet TOTAL ASSETS 7,671 8,100 8,679 MSEK 31/03/2022 31/03/2021 31/12/2021 MSEK 31/03/2022 31/03/2021 31/12/2021 ASSETS EQUITY AND
Slide 28: Condensed consolidated statement of cash flows
Condensed consolidated statement of cash flows 2022 2021 31/03/2022 2021 MSEK JAN–MAR JAN–MAR 12 months to JAN–DEC Operating activities Profit/loss after financial items 71 57 393 379 Adjustment for non-cash items 132 123 665 656 Income taxes paid -46 -46 -113 -113 Cash flow from operating activitie
Slide 29: Key performance indicators
Key performance indicators 2022 2021 31/03/2022 2021 Group, MSEK JAN–MAR JAN–MAR 12 months to JAN–DEC IFRS KEY PERFORMANCE INDICATORS Earnings per share, SEK Continuing operations¹ 1.10 0.90 5.95 5.75 Discontinued operations1,2 0.55 0.65 2.65 2.75 Impact on earnings of the distribution of Momentum G