Slide 1: Q2 Report 2024 Elon AB
2024-08-30 Q2 REPORT | 2024 Elon AB Stefan Lebrot CEO Peter Brodén CFO
Slide 2: Financial strength and foundation for future growth
Q2 REPORT 2024 Financial strength and foundation for future growth Financials • Stronger Group gross margin • with stronger in-store gross margin • Significantly improved quarter operating profit • Improved operating cash flow Achievements • Consolidation of retail • Next step for IT and telecom seg
Slide 3: Net sales
Q2 REPORT | 2024 Net sales TURNOVER 1 096 -10 MSEK vs Q2-23 MSEK
Slide 4: Organic growth better than expected
Q2 REPORT | 2024 Organic growth better than expected GROWTH -0,9%vs Q2-23 Elvita – OverEarHeadphones Launch Q1 - 2024
Slide 5: Diversed channel mix
Q2 REPORT | 2024 Diversed channel mix > 30% sales through SMB and LCP BY BUSINESS AREA L&S 8% B2B 23% B2C 69% Share of Net Sales Q2-24
Slide 6: Growing in new markets
Q2 REPORT | 2024 Growing in new markets 20% from Iceland, Finland, Norway and Denmark BY COUNTRY 2% 4% 8% 81% 5% Share of Net Sales Q2-24 Nordanro kök – Matlagningskök Launching 2024
Slide 7: Improved Gross Margin
Q2 REPORT | 2024 Improved Gross Margin through positive sales mix and currency GROSS MARGIN 17,0% +3,7%pts vs Q2-23 through improved sales mix (2,6%) and positive quarter currency effect (1,1%). Elons chain concepts in the quarter maintained a in-store sales margin in line with Q2-23. Elvita – In Ea
Slide 8: Less cost doing more
Q2 REPORT | 2024 Less cost doing more Synergies, efficiencies and cost control TOTAL COST REDUCTION -91 MSEK R12m vs pre merge separate entites (fixed cost and marketing savings)
Slide 9: Improved quarter result and cash flow trend
Q2 REPORT | 2024 Improved quarter result and cash flow trend OPERATING PROFIT OPERATING CASHFLOW 11 MSEK 55 MSEK +35 MSEK vs Q2-23 +229 MSEK vs Q2-23 where excl. changes in tied up capital +50 MSEK and in tied-up capital improved +179 MSEK Elon & Elon Ljud&Bild – ”Allt för Hemmafesten” Campaign Q1 -
Slide 10: Seasonal trend
Q2 REPORT | 2024 Seasonal trend Sow in spring and harvest in autumn OPERATING PROFIT - QUARTERLY 80 60 63 40 37 34 29 20 21 MSEK 19 18 15 14 13 11 5 3 0 -15 -23 -24 - 20 -41 - 40 -49 - 60 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2020 2021 2022 2023 2024 Purchase of Market Adapting
Slide 11: Building scale
Q2 REPORT | 2024 Building scale Improved profit on slower market SALES AND OPERATING MARGIN 5 200 8,0% 545000 100 900 44 800 700 4 888 4 500 4 600 4 719 4 799 7,0% 44 400 300 44 200 100 6,0% 43 000 900 33 800 700 333 400 600 500 3 657 5,0% 333 200 300 100 3 342 32 000 900 4,0% 22 800 700 2 945 2 957
Slide 12: Positive profit trend
Q2 REPORT | 2024 Positive profit trend Pricing and cost reductions mitigates negative macro effects OPERATING PROFIT - LTM 80 4,0% 60 2,0% 2,0% 1,8% 1,4% 1,1% 1,0% 1,0% 0,9% 0,0% 0,8% 0,5% 0,3% 0,3% 40 0,1% -0,3% -0,4% -0,5% -2,0% MSEK 20 -4,0% 49 43 47 34 74 48 66 10 14 32 13 5 0 -13 -24 -20 -6,0%
Slide 13: WC seasonal trend
Q2 REPORT | 2024 WC seasonal trend mainly from positive reductions on stock levels WORKING CAPITAL - QUARTERLY 600 10,1% 8,9% 8,8% 8,4% 10,0% 500 7,8% 514 7,1% 6,4% 6,5% 400 424 4,3% 5,0% 402 3,7% 3,2% 3,5% 3,0% 358 346 300 332 323 301 -0,4% 0,0% 200 209 100 132 130 117 104 -5,0% 0 -14 - 100 -10,0%
Slide 14: Operating cash flow
Q2 REPORT | 2024 Operating cash flow Improved stock, improved receivables and higher payments OPERATING CASH FLOW 300 232 200 166 173 212 135 133 131 196 155 111 100 70 80 72 70 25 93 65 3 55 2 43 33 MSEK 0 -60 -77 - 100 -120 -174 -174 - 200 -231 - 300 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Slide 15: Summary
Q2 REPORT 2024 Summary • Stable market footprint • Proven scalabillity • Improving profits and cash flow Canvac – Heatpump Launch Q1 2024
Slide 16: @LONGROUP
@LONGROUP