Svedbergs Group Ab Class B · OMXSTO:SVED_B
Svedbergs Group Ab Class B — Svedbergs i Dalstorp — Q3 2024 Earnings Presentation
26 slides from Svedbergs Group Ab Class B's earnings presentation, Oct 25, 2024
Slide 1: Svedbergs Group Q3 2024
SVEDBERGS GROUP Q3 2024
Slide 2: Our vision
2 Our vision Our goal is to be recognised as Europe’s leading collection of innovative brands that design, manufacture and market sustainable products and services for the bathroom.
Slide 3: Our brand companies
3 Our brand companies 18%* 7%* 4%* 52%* 19%* *Share of total sales YTD 2024
Slide 4: Highlights Q3
4 Highlights Q3 • Strong third quarter 2024 • Good performance in UK and NL, Roper Rhodes increased sales, gross margin and EBITA • A weaker sales development in the Swedish and Finnish markets and contract sales in the Svedbergs segment • Good performance in Macro Design • Improved gross margin • I
Slide 5: Net Sales per segment/geography Q3
5 Net Sales per segment/geography Q3 • Strong sales in Roper Rhodes, UK and Thebalux, NL Macro Design SE • The acquisition of Roper Rhodes and Thebalux have changed the market mix, Q3 25% in the Nordics • Soft demand in the Svedbergs segment • Thebalux and Netherlands stands for 18%
Slide 6: Net Sales per segment/geography Q1-Q3 2024
6 Net Sales per segment/geography Q1-Q3 2024 • Strong sales in Roper Rhodes and UK • The acquisition of Roper Rhodes and Thebalux have changed the market mix, YTD Q3 28% in the Nordics • Soft demand in the Svedbergs segment • Thebalux stands for 19%
Slide 7: Svedbergs: A room to live and enjoy
Svedbergs (Dalstorp, Västra Götaland, Sweden) • Turnover 2023: MSEK 504 • FTE (SE, FI, NO, DK) 153 • Geography: Nordic Q3-24 Q3-23 Idx YTD 24 YTD 23 Idx Ext sales 76 93 82 292 367 79 EBITA 1 12 11 11 50 22 EBITA% 1,7 13,3 13 3,7 13,5 27 “A room to live and enjoy”
Slide 8: Macro Design
Macro Design (Laholm, Halland, Sweden) • Turnover 2023: MSEK 170 • FTE (SE, NO) 46 • Geography: Sweden and Norway Q3-24 Q3-23 Idx YTD 24 YTD 23 Idx Ext sales 35 32 108 120 119 101 EBITA 3 1 194 11 8 134 EBITA% 8,2 4,5 180 9,1 6,9 133 “Attractive design, functionality and quality at a lower price fou
Slide 9: Cassøe
Cassøe (Herning, Jylland, Danmark) • Turnover 2023: MSEK 89 • FTE (DK) 15 • Geography: Denmark and Norway Q3-24 Q3-23 Idx YTD 24 YTD 23 Idx Ext sales 19 20 94 66 65 101 EBITA 3 3 98 13 13 97 EBITA% 18,3 17,7 104 19,5 20,2 96 ”Cassøe markets and distributes designed quality products with the customer
Slide 10: Roper Rhodes (Bath, UK)
Roper Rhodes (Bath, UK) • Turnover 2023: MSEK 1 062 • FTE (UK, IRE) 209 • Geography: UK and Ireland Q3-24 Q3-23 Idx YTD 24 YTD 23 Idx Ext sales 289 287 101 863 812 106 EBITA 55 48 115 153 127 121 EBITA% 19,1 16,7 114 17,8 15,6 114 “UK's bathroom brand of choice, by providing excellent and sustainabl
Slide 11: Thebalux (Zutphen/Veghel, the Netherlands)
Thebalux (Zutphen/Veghel, the Netherlands) • Turnover 2023*: MSEK 375 • FTE (NL) 96 • Geography: NL, DE, BE * Proforma Q3-24 Q3-23 Idx YTD 24 YTD 23 Idx Ext sales 94 - 305 - EBITA 18 - 72 - EBITA% 19,5 23,6
Slide 12: Sustainability highlights Q3
12 Sustainability Important events during the quarter: highlights Q3 • Thebalux now fully integrated in our sustainability reporting as well as reporting of CO2 emissions scope 1, 2 and 3 • The reporting of ESRS data points mapped and reporting has started • Signed commitment letter for Science base
Slide 13: Q3 in numbers
Q3 in numbers — es
Slide 14: Net Sales development Q3 2024
14 Net Sales development Q3 2024 • Net sales for the quarter amounted to SEK 512 million (432), corresponding to an increase of 19 percent compared to the previous year 19% 512 • Organic growth -1 percent 94 • The acquisition of Thebalux had a 432 -6 positive impact of 22 percent -8 • Currency negat
Slide 15: Net Sales development Q1-Q3 2024
15 Net Sales development Q1-Q3 2024 • Net sales YTD amounted to SEK 1 646 million (1 363), corresponding to an increase of 21 percent compared to the previous year 21% 1’646 • Organic growth -2 percent 305 • The acquisition of Thebalux had a positive impact of 22 percent 1’363 -33 11 • Currency posi
Slide 16: Net Sales Development Q3 2024
16 Net Sales Development Q3 2024 • Net Sales 19 percent higher vs PY • Positive impact by the acquisition of Thebalux • Good performance Roper Rhodes, organic growth positive with 2 percent
Slide 17: Profit & Margins Q3/YTD 2024
17 Profit & Margins Q3/YTD 2024 • Gross Margin and EBITA slightly lower in Q3, mainly due to challenging market conditions in the Nordics and holiday period in July/August • Price adjustments made and cost reductions achieved • High focus on cost control
Slide 18: Cash flow and Financial position Q3/YTD 2024
18 Cash flow and Financial position Q3/YTD 2024 • Free Cash Flow in Q3 at a low level mainly due to increased accounts payables and inventory • Free Cash Flow YTD mainly impacted by payments of customer bonuses and increased accounts receivables in Q1 2024 2023 2022 YTD YTD YTD • Investments assigne
Slide 19: Net debt and leverage YTD Q3
19 Net debt and leverage YTD Q3 • Net debt 792 MSEK (596) • Net debt IFRS 16 impact MSEK 74 (34) • Net Debt/EBITDA at 2.3 (2.1) incl Earn Out Roper Rhodes and Thebalux, MSEK 212 (168) • Revaluation of Earn-Out for Roper Rhodes in Q3
Slide 20: Development Net debt and leverage
20 Development Net debt and leverage • Net debt and leverage downward trend • Amortization of loan and good result has a positive impact 2024 • Revaluation of Earn-Out for Roper Rhodes in Q3
Slide 21: Outlook and summary
21 Outlook and summary • Launch new products and improve customer service to increase our market share • Improve sales activities in the Nordics • Sustainability in all that we are doing • Continuing meeting with potential acquisitions that complement the group
Slide 22: Q3 in numbers
22 Q3 in numbers Net Sales Net Sales Net sales increases by 19% to 512 MSEK (432) MSEK Organic Growth -1% EBITA EBITA 71 MSEK (59), EBITA% 13,9% (13,7) MSEK Cash Flow Operations: 4 MSEK (36) Cash Flow MSEK Free Cash Flow: -2 MSEK (29) Net debt to EBITDA: Leverage 2.3 x (2.1) incl earn out UK and NL
Slide 23: YTDQ3 in numbers
23 YTDQ3 in numbers Net Sales Net Sales Net sales increases by 21% to 1 646 MSEK (1 363) MSEK Organic Growth -3% EBITA EBITA 231 MSEK (181), EBITA% 14,0% (13,2) MSEK Cash Flow Operations: 74 MSEK (140) Cash Flow MSEK Free Cash Flow: 51 MSEK (119) Net debt to EBITDA: Leverage 2.3 x (2.1) incl earn ou
Slide 24: Questions
24 Questions • We will now answer questions live and previously sent to ir@svedbergsgroup.com • To participate, please follow the link in the press release from 15 October, which you find on www.svedberggroup.se under Press.
Slide 25: Thank you!
25 Thank you! Per-Arne Andersson, CEO Ann-Sofie Davidsson, CFO
Slide 26: Q&A
Q&A Per-Arne Andersson CEO Ann-Sofie Davidsson CFO