Slide 1: Results presentation Q3 2022
Results presentation Q3 2022
Slide 2: Agenda
AGENDA Business Summary Financial Q&A Update Development
Slide 3: Synsam Group Q3 & 9M 2022 in summary
Synsam Group Q3 & 9M 2022 in summary
Slide 4: Increased market share in a weak consumer market, +12,2% in Q3 2022
▪ Increased market share in a weak consumer market, +12,2% in Q3 2022. Continued investments for future growth affect the result. o Net sales 1,319 MSEK in Q3, 3,904 MSEK 9M o Organic growth 9,6% in Q3, 11,9% 9M o EBITDA margin 22,7% in Q3, 23,9% 9M ▪ The gross margin has been negatively affected by
Slide 5: Business Update
BUSINESS UPDATE
Slide 6: The Market Situation
The Market Situation ➢ The competition for consumers is more challenging ➢ The market is even more campaign-driven ➢ Consumers choose cheaper alternatives ➢ Consumers are more careful in their choices ➢ The purchase process becomes slightly longer ➢ Customers increasingly choose subscricptions ➢ Eye
Slide 7: Strong development of the Synsam Lifestyle Subscription
Strong development of the Synsam Lifestyle Subscription ▪ Net sales for the Lifestyle Subscription in Q3 2022 Lifestyle Represents An Increasing % Of Total Net amounted to 641 MSEK (520), an increase of Sales 23%. All segments contributed to the development. ▪ Lifestyle Subscriptions increased in al
Slide 8: Continued strong growth of the Synsam Lifestyle Customer Base
Continued strong growth of the Synsam Lifestyle Customer Base Active customer base Synsam Lifestyle (thousands), at the end of Synsam Group quarterly churn – Synsam Lifestyle is a measure the period of the proportion of customers who leave the spectacles subscription ▪ Subscriptions provide customer
Slide 9: Synsam Contact Lens Subscription – the success continues
Synsam Contact Lens Subscription – the success continues Fast growing Lens Subscriptions Sales (MSEK). Slightly lower gross margin in comparison to Synsam in total. +36%* +38% 214 +50% 169 +283% 123 82 21 2018 2019 2020 2021 LTM Q3 2022 | 9 * LTM growth corresponds to growth compared to the previous
Slide 10: Continued strong development of Online Sales
Continued strong development of Online Sales Stable growing revenue for Online Sales (MSEK). Slightly lower gross margin in comparison to Synsam in total. +43%* +45% 142 +88% 100 +10% 69 37 33 2018 2019 2020 2021 LTM Q3 2022 | 10 * LTM growth corresponds to growth compared to the previous year’s LTM
Slide 11: New Establishments so far in Q4 2022
New Establishments so far in Q4 2022 ▪ October - 15 Nov 2022 o Synsam Recycling Outlet Göteborg Arkaden (Sweden) Synsam Chydenia, Kokkola, Finland o Synsam Chydenia (Finland) Synsam Recycling Outlet Itis, Helsinki, Finland o Synsam Carl Berner (Norway) o Synsam Recycling Outlet Itis (Finland) o Syns
Slide 12: Synsam won Retail Company of the Year at the Market Awards
On the 19th of October, Synsam won the award as Retail Company of the Year at the Market Awards The jury’s motivation: ”This year’s winner has developed the customer experience both when it comes to personal service and the experience in store. The sustainability work has been strengthened through s
Slide 13: Summary
Summary ▪ Synsam increased market shares in a weak consumer market through growth investments ▪ Synsam’s total subscription business provides added value in uncertain times , strong increase of + 25 percent* ▪ A shortage of opticians has affected the quarter, but the situation has stabilised ▪ Synsa
Slide 14: We see a continued weak market
We see a continued weak market where the consumer will make active choices regarding eye health. Synsam is well positioned to face a weaker market and measures are taken on an ongoing basis.
Slide 15: Financial Development
F I NANC I AL D EVELOPM ENT
Slide 16: Q3 Overview
Q3 Overview Q3 Net sales 1,319 MSEK ▪ Net sales amounted to 1,319 MSEK (1,176), an increase of 12,2% Q3 ▪ Gross margin amounted to 73,8% (75,8) Gross margin 73,8% ▪ Organic growth during Q3 was 9,6% and Q3 growth like-for-like was 5,5% Organic growth +9,6% ▪ EBITDA margin for the quarter amounted to
Slide 17: 9M 2022 Overview
9M 2022 Overview 9M Net sales 3,904 MSEK ▪ Net sales amounted to 3,904 MSEK (3,423), an increase of 14,0% 9M ▪ Gross margin amounted to 75,4% (75,8) Gross margin 75,4% ▪ Organic growth 9M was 11,9% and growth 9M like-for-like was 7,7% Organic growth +11,9% ▪ EBITDA margin for the first nine months a
Slide 18: Q3 Financial Overview – Continued strong sales growth
Q3 Financial Overview – Continued strong sales growth Q3 ▪ Organic growth: 9,6 percent MSEK 2022 2021 Δ% ▪ Like-for-like growth: 5,5 percent Net Sales 1 319 1 176 12,2 Organic Growth, %¹ ▪ Investments have burdened EBITDA with 34 MSEK 9,6 21,0 compared to the third quarter of 2021 and 82 MSEK Gross
Slide 19: Long term financial development
Long term financial development Net sales development Adjusted EBITDA och EBITA development IFRS -16 27% +11% +14% +23% 24% +14% 5149 26% 25% 1274 1277 +2% 4669 19% 984 3741 3806 948 3380 858 794 643 593 557 485 2018 2019 2020 2021 LTM Q3 2022 2018 2019 2020 2021 LTM Q3 2022 Net sales (MSEK) YoY gro
Slide 20: Cash Flow and Financial Position
Cash Flow and Financial Position Q3 jan-dec MSEK 2022 2021 2021 ▪ Cash flow fom operating activities amounted to 214 MSEK Operating activities (252) for the third quarter Profit/loss before tax 98 31 163 Adjusted for other non-cash items -18 92 271 ▪ The increase in inventories is a result of the Gr
Slide 21: Growth and result per segment
Growth and result per segment 1 Organic growth Q3 Like for like Q3 Adjusted EBITDA Q3 SWEDEN +10,7% +7,2% 191 MSEK (202) Organic growth 9M Like for like 9M Adjusted EBITDA 9M +12,7% +9,2% 545 MSEK (549) Organic growth Q3 Like for like Q3 Adjusted EBITDA Q3 2 +3,2% +2,4% 80 MSEK (78) Organic growth 9
Slide 22: Store Network Overview
Store Network Overview Total number of stores at the end of the quarter was 520 (495), of which Number of stores per quarter directly owned 487 33 33 (456). Unchanged 33 38 38 39 39 33 487 487 number of stores in the 40 39 38 38 467 476 44 44 43 43 43 42 41 436 435 437 442 446 451 456 quarter. 432 4
Slide 23: COND HAND,
COND HAND, DLLECTION
Slide 24: www.synsam.com
www.synsam.com