Nobia Ab · OMXSTO:NOBI
Nobia Ab — Q2 2018 Earnings Presentation
13 slides from Nobia Ab's earnings presentation, Jul 20, 2018
Slide 1: Interim report Jan-Jun 2018
Interim report Jan-Jun 2018 July 20, 2018 1
Slide 2: Q2 Highlights
Q2 Highlights Net sales SEK 3,503 m (3,408) Organic growth -2% (1) Gross margin 39.8% (39.9) EBIT SEK 387 m (413) EBIT margin 11.0% (12.1) Profit after tax SEK 297 m (314) Operating cash flow SEK 184 m (193)
Slide 3: Acquisition of Bribus
Acquisition of Bribus Bribus is a leading kitchen supplier in the Netherlands – #1 in project market Provides a full service offering and targeting customers in social housing and large-scale property investors Production in a modern factory in Dinxperlo Net sales for 2017 around EUR 65 m an
Slide 4: Kitchen market trend, Q2
Kitchen market trend, Q2 The Nordic market was up compared to the same period the past year. New build completions continued to be the driver of the favourable development. The UK market is estimated to have weakened slightly on past year, with the ongoing political and economic uncertainty impactin
Slide 5: Financial targets
Financial targets Growth Profitability Financing Dividend >5% >10% <100% 40-60% organic and EBIT margin debt/equity of net profit acquired after tax
Slide 6: Strategic initiatives
Strategic initiatives VISION Inspiring kitchens made easy FINANCIAL TARGETS Omnichannel Value for Product Supply chain Acquisitions People money offer management footprint Front-end growth Back-end efficiency Enabling pillars Scale benefits throughout the value chain
Slide 7: Net sales distribution, 12 months rolling
Net sales distribution, 12 months roll Total net sales by country UK net sales by channel Austria Other 1% Finland 3% B2B 21% Magnet Retail 7% 29% Norway UK 44% 12% Sweden 14% Contract 27% Magnet Trade Denmark 19% 22%
Slide 8: Nordic region
Nordic region 53% of net sales in Q2 2017 2018 Organic growth affected by production Apr-Jun Apr-Jun disruptions in Tidaholm Net sales (SEK m) 1,756 1,851 Gross margin declined due to currency, higher material prices and low productivity Organic growth 5% 1% EBIT margin declined due to lower g
Slide 9: UK region
UK region 43% of net sales in Q2 2017 2018 Organic sales decline, mainly due to Apr-Jun Apr-Jun lower B2B sales Exit from Homebase and high past year Net sales (SEK m) 1,520 1,498 project deliveries affected comparison with last year Organic growth -2% -6% Gross margin improved as a result of
Slide 10: Central Europe region
Central Europe region 4% of net sales in Q2 2017 2018 Organic growth as a result of Apr-Jun Apr-Jun increased sales in Austria Gross margin improved due to Net sales (SEK m) 133 155 higher productivity and increased prices Organic growth -12% 10% EBIT margin improved Gross margin 31.6% 32.3% E
Slide 11: Financial position, Q2
Financial position, Q2 SEK m 2017 Apr-Jun 2018 Apr-Jun Operating profit 413 387 Operating cash flow declined Lower profit generation Change in -183 -158 working capital Higher investments Investments in fixed assets -61 -68 Operating cash flow 193 184 Strong balance sheet Net debt SEK 825 m en
Slide 12: Strategy and main financial targets
Strategy and main financial targets Focus on Growth, >5% organic and acquired Growth Efficiency >10% EBIT margin 12
Slide 13: Q&A
Q&A