Elektroimportoren As · OSL:ELIMP
Elektroimportoren As — Elektroimportøren AS — Q1 2021 Earnings Presentation
17 slides from Elektroimportoren As's earnings presentation, May 5, 2021
Slide 1: Elektroimportøren
Elektroimportøren Andreas Niss CEO and Petter Bjørnstad CFO
Slide 2: 1.st quarter presentation
1.st quarter presentation Elektroimportøren AS 5th. May 2021 Andreas Niss CEO, Petter Bjørnstad CFO
Slide 3: An introduction to Elektroimportøren
An introduction to Elektroimportøren Elektroimportøren in brief Nationwide network of stores Provider of electrical equipment to B2B and B2C customers Disrupts the traditional value chain and distributes directly to end-customers Successful development and sourcing of own brand, Namron Prove
Slide 4: Key financials Q1 - 2021
Key financials Q1 - 2021 Revenue of 345.7 MNOK (256.7 MNOK) up 34.7% Online share of total sales (excluding pick up in store) 14.8% (13.2%) Strong sales growth in the B2B segment and share of sales have increased compared to last year to 47.9% (44.4%). Sales to B2C 52.1% (55.6%). Total like for like
Slide 5: Summary of Q1 - Operations
Summary of Q1 - Operations Even though we had to close down 13 of our 23 stores for B2C in March, we managed to grow revenues in all product categories, sales channels and customer segments. Throughout the quarter all stores have been open for sales to B2B. Electrical vehicle chargers continue to be
Slide 6: Revenues
Revenues Total revenue in Elektroimportøren for Q1 was 346 MNOK, increasing from 257 MNOK Q1 last year (34.6% growth). All growth is organically. Like for like growth in physical stores was 25.2%, while growth in Online sales channel was 51.8% (collect in store is reported as part of sales in physic
Slide 7: Gross margin
Gross margin Gross margin for Q1 was 37.3%, down from 38.8% for Q1 2020. Key drivers for reduced margin percentage year on year: Strong growth in sales to B2B Negative effect on B2C sales in stores that are closed for this customer group because of Covid 19 restrictions Strong sales growth on EV cha
Slide 8: OPEX
OPEX Compared to Q1 last year we have two more stores (Tønsberg and Klepp). Costs in sales channels have increased from 55.5 MNOK to 63.0 MNOK. Costs as percentage of sales have a significant efficiency improvement from 21.6% to 18.2%. Other operating expenses was 33.5 MNOK, an increase from 28.3 MN
Slide 9: Adj. EBITDA
Adj. EBITDA Adjusted EBITDA for Q1 was 32.3 MNOK increasing from 15.7 MNOK in 2020. Main drivers for this positive development are significant increase in revenue, good cost control in stores and other functions, offsetting a reduction in gross margin percentage.
Slide 10: Return on Equity
Return on Equity Good return on Equity (measured as adjusted net profit/average equity)
Slide 11: Alternative Performance Measures
Alternative Performance Measures (Amounts i n NOK mi l l i on) Q1 2021 Q1 2020 2020 Revenue 345,7 256,7 1 314,9 COGS -216,9 -157,2 -792,5 Gross Profit 128,8 99,5 522,5 Gross margin (%) 37,3 % 38,8 % 39,7 % Operating expenses in sales channels -63,0 -55,5 -225,9 Other operating expenses -33,5 -28,3 -
Slide 12: Consolidated statement of profit and loss
Consolidated statement of profit and loss Amounts in nok 1000 Note Q1 2021 Q1 2020 2020 Unaudited Unaudited Audited Revenue 345 693 256 682 1 315 894 Cost of goods sold -216 856 -157 217 -798 389 Employee benefits expenses -54 699 -48 207 -219 294 Depreciation and amortisation expenses -8 613 -7 804
Slide 13: Consolidated statement of financial position
Consolidated statement of financial position Amounts in nok 1000 Note Q1 2021 Q1 2020 2020 Unaudited Unaudited Audited Goodwill 121 062 130 321 122 606 Other intangible assets 6 447 6 996 7 356 Total intangible assets 127 509 137 317 129 962 Fixtures and fittings, office machinery and equipment 140
Slide 14: Consolidated statement of cash flows
Consolidated statement of cash flows Amounts in nok 1000 Note Q1 2021 Q1 2020 2020 Unaudited Unaudited Audited Cash flow from operations Profit before income taxes 22 942 7 887 107 156 Taxes paid -3 995 -4 509 -7 990 Depreciation and amortisation 8 613 7 805 33 118 Change in inventory -25 615 5 756
Slide 15: Consolidated statement of changes in equity
Consolidated statement of changes in equity Amounts in nok 1000 Paid in Other Total Equity Equity Equity January 1st. 2020 13 011 81 265 94 276 Profit for January-March 2020 0 2 668 2 668 Balance at 31st. March 2020 13 011 83 933 96 944 Balance at 1st. January 2021 13 011 112 535 125 546 Profit for
Slide 16: Events after the period and outlook
Events after the period and outlook Our assumptions for the 2nd quarter have been to be on par with last year. As stores opens up for B2C we expect sales to pick up. Confident in contiuous marketshare growth in B2B Opening of store 24 in June One new store signed, opening in 2022 Negotiations for 2
Slide 17: Q&A
Plekira iniperkersi Q&A