Tokmanni Group Oyj · OMXHEX:TOKMAN
Tokmanni Group Oyj — Q1 2025 Earnings Presentation
21 slides from Tokmanni Group Oyj's earnings presentation, May 16, 2025
Slide 1: Dollarstore's result declined, integration is progressing
Q1/2025 Dollarstore’s result declined, integration is progressing Mika Rautiainen, Group CEO Tapio Arimo, Group CFO 16 May 2025
Slide 2: Strong position in the Nordic discount retail market
Tokmanni Group has a strong position in the Nordic discount retail market Revenue by segment Q1/2025 204 Tokmanni stores 133 Dollarstore stores 240 29% 36 Click Shoes stores stores 341.8 7 Big Dollar stores 133 4,356 stores employees EURm Total of 380 stores at 1,843 71% the end of March 2025 employ
Slide 3: Tokmanni Group Q1/2025
Tokmanni Group Q1/2025 • Timing of Easter affected sales negatively • One sales day less than last year due to leap day • Sales of winter-related product groups declined • Consumer confidence remained weak in Finland and weakened in Sweden during the quarter • Dollarstore’s low gross margin % impact
Slide 4: Tokmanni segment Q1/2025
Tokmanni segment Q1/2025 • Tokmanni segment’s like-for-like customer visits decreased by 2.2% (+0.5%) • Like-for-like average basket size decreased by 1.4% • Low sales of higher priced winter products • Strikes had a double-digit negative impact on one week’s sales • Comparable gross margin was one
Slide 5: Dollarstore segment Q1/2025
Dollarstore segment Q1/2025 • Dollarstore segment’s like-for-like customer visits increased by 0.8% (-1.5%) • Like-for-like average basket size increased by 1.8% • More than 2,000 joint private label products for sale in Dollarstore • Comparable gross margin was 3.7 percentage points lower due to cl
Slide 6: One company
One company We are tightening the integration of Tokmanni and Dollarstore • New management model • Combine the sourcing organisations of Tokmanni and Dollarstore into one • Build a joint retail concept • Improve store efficiency • Create a common operating model for the supply chain • Strengthen exp
Slide 7: Tokmanni Group's key figures
Tokmanni Group’s key figures 7 Tokmanni Group Financial Review Q1/2025
Slide 8: Tokmanni Group's key figures Q1/2025
Tokmanni Group’s key figures Q1/2025 • Group revenue grew by 0.8% (42.4 %), EUR 341.8 million (339.2) • Like-for-like revenue decreased by 1.9% (+1.7%) • Comparable gross profit totalled EUR 115.4 million (115.4) with the comparable gross margin being 33.7% (34.0%) • Comparable EBIT amounted to EUR
Slide 9: Revenue
Tokmanni Group’s Revenue Revenue, EUR million +0,8% • In the first quarter, Tokmanni Group’s revenue grew by 339,2 341,8 0.8% (42.4%) and was EUR 341.8 million (339.2) • Like-for-like revenue decreased by 1.9% (+1.7%) 91,1 99,2 238,2 • Tokmanni segment’s revenue decreased by 2.2% (+4.2%) and was EUR
Slide 10: Group's sales of grocery products increased by 0.8% in Q1/2025
Group’s sales of grocery products increased by 0.8% in Q1/2025 Tokmanni segment’s Dollarstore segment’s share of revenue, % share of revenue, % Q1/2025 Q1/2025 43,4% 41,3% 242.7 99.2 (43,9%) EURm (44,5) (40,9%) EURm 56,6% 58,7% (55,5) (56,1%) (59,1%) 52,3% Groceries Groceries Non-groceries Non-groce
Slide 11: Comparable gross profit
Tokmanni Group’s Comparable gross profit Comparable gross profit • In the first quarter, Tokmanni Group’s comparable gross profit was EUR 115.4 million (115.4), and comparable gross margin was 33.7% (34.0%) 34,0 33,7 115,4 115,4 • The Group’s gross profit was negatively impacted by 31,7 Dollarstore’
Slide 12: Comparable operating expenses
Tokmanni Group’s Comparable operating expenses Comparable operating expenses, % of revenue • In the first quarter, Tokmanni Group’s comparable 30 29,2 operating expenses were 27.8% of revenue (26.4%), 27,9 28 27,8 or EUR 95.0 million (89.4) 26,4 26 25,2 24,9 25,6 26,8 24 23,2 • Personnel expenses we
Slide 13: Comparable EBIT
Tokmanni Group’s Comparable EBIT Tokmanni Group’s comparable EBIT • In the first quarter, Tokmanni Group’s comparable EBIT was EUR -11.2 million (-5.1), and comparable EBIT margin was -3.3% (-1.5%) -2,2 -5,1 • Group functions and eliminations were EUR -1.0 million (-0.6) -0,9 -11,2 -1,5 • Tokmanni s
Slide 14: Inventories
Tokmanni Group’s Inventories • The value of Tokmanni Group’s inventories was EUR 481.2 Inventories, EUR million million (370.8) at the end of March 481,2 • The value of Tokmanni segment’s inventories in Finland 370,8 151,2 was EUR 329.9 million (271.6) 305,9 300,7 99,1 – Inventory levels normalised
Slide 15: Financing
Tokmanni Group’s Financing Tokmanni Group’s interest-bearing debt, EUR million • At the end of March, Tokmanni Group’s interest-bearing 940,6 debt totalled EUR 940.6 million (826.3) 826,3 – EUR 229.2 million (219.1) in non-current loans from financial institutions and EUR 136.1 million (35.0) in cur
Slide 16: Net debt / comparable EBITDA
Net debt / comparable EBITDA Rolling 12 months comparable EBITDA Net debt / comparable EBITDA • At the end of March, Tokmanni Group’s net debt 4,5 4,20 / comparable EBITDA excl. IFRS 16 impact was 3,94 4,0 3.57 (2.26) 3,57 3,5 3,0 2,75 • The financial position was good 2,42 2,5 2,26 – Net debt excl.
Slide 17: Cash flow from operating activities
Tokmanni Group’s Cash flow from operating activities • In the first quarter, Tokmanni Group’s net cash flow Tokmanni Group’s net cash flow from operating activities, EUR million from operating activities amounted to EUR -73.9 million (-40.0) • The cash flow from operations was particularly impacted
Slide 18: Capital expenditure
Tokmanni Group’s capital expenditure • In the first quarter, Tokmanni Group’s capital expenditure Capital expenditure, EUR million totalled EUR 4.6 million (5.9) 18,3 5,9 • Capital expenditure was mainly related to the store 13,8 network expansion, development and maintenance of 4,6 the store networ
Slide 19: Tokmanni Group's guidance unchanged
Tokmanni Group’s guidance unchanged 19 Tokmanni Group Financial Review Q1/2025
Slide 20: Guidance 2025
Guidance 2025 • In 2025, Tokmanni Group expects its revenue to be EUR 1,720–1,820 million. • Comparable EBIT is expected to be EUR 100–130 million. 20 Tokmanni Group Financial Review Q1/2025
Slide 21: Q&A
Q&A ir@tokmanni.fi 21 Tokmanni Group Financial Review Q1/2025