Nimbus Group Ab · OMXSTO:BOAT

Nimbus Group Ab — Q4 2024 Earnings Presentation

13 slides from Nimbus Group Ab's earnings presentation, Feb 4, 2025

  1. Slide 1: Nimbus Group Q4 report

    Nimbus Group Q4 report 4 February 2025 1

  2. Slide 2: Today's Presenters

    Today’s Presenters Jan-Erik Lindström Rasmus Alvemyr CEO CFO 2

  3. Slide 3: Key take aways from 2024

    Key take aways from 2024  Continued execution on strategic plan – Focus on premium products • Entered additional premium segment with larger boats by Nimbus 495 • Initiated closing of own value boat production – North America expansion • Established partnerships with several key distributors in the

  4. Slide 4: Business update fourth quarter 2024

    Business update fourth quarter 2024  Increased order intake in Q4, +53% YoY (Q3, +18%)  Sales amounted to 274 mSEK (361), down by 24%, (FY 15%).  EBITA -25 mSEK (-4)  Decision to close factory in Kuopio after finalized union negotiations  Current sales do not fully leverage our investments in b

  5. Slide 5: This is Nimbus Group

    This is Nimbus Group  Founded in 1968  Long history of international trade  True house of well-known brands  2022, June - Own establishment in North America  2023, May – Acquisition of EdgeWater Power Boats (enabling local US production)  2024, first US produced Nimbus boat in Q2  2024, sept

  6. Slide 6: Order book development

    Order book development  Order intake in Q4 increased by +53% YoY to 278 mSEK SEKm (182), driven by Nordics (+102%) and Europe (+95%) 90% 79% 80% 1 200 78%  Order book amounted to 574 mSEK (L/Y 759) 80% 69% 66%  Drop in ROW 1 000 64% 62% 61% 70% 58% 60% 53% 54%  Indications in Q2 of shift towards

  7. Slide 7: Sales development per market

    Sales development per market Q4 Full year  North America dropped -46 mSEK driven by EdgeWater brand.  North America sales was flat, sale of Nimbus brand increased +27%, Sales of Nimbus brand was slightly up (+4%). while EW dropped  Trend change in the Nordics. Sales went up by 27% to 97 MSEK  No

  8. Slide 8: Sales development

    Sales development  Net sales in Q4 decreased by -24% Y/Y, driven by softer demand for both premium and value boats in Europe  Retail sales increased to 75 mSEK (50), driven by Nordics, although a seasonally weak Quarter  Commerical sales dropped to 197 mSEK (311)  Organic growth in Q4 -25% Distr

  9. Slide 9: EBITA Development

    EBITA Development  EBITA went down to -60 mSEK (100), affected by: – Non-recurring costs – EW Production stop in Q1 to adapt dealer stock levels, effect from acquisition 2023 -23 mSEK – Restructuring costs Finland of -55 mSEK, Q3 – Running losses from small boat business – Cost under absorption eff

  10. Slide 10: CF & Working Capital

    CF & Working Capital  Operating CF in Q4 amounted to net -26 mSEK (-69).  NWC in Q4 amounted to 620 mSEK which is an increase by 57 mSEK since Q3, driven by both currency effects from the US business and increased inventory levels.  Continued relatively soft market in particularly Europe has caus

  11. Slide 11: Financial Targets

    Financial Targets Growth >10% EBITA margin 10% Capital structure - No Financial debt Dividend policy 30% 11

  12. Slide 12: Onwards

    Onwards  Continued focus on cash release and cost out  Finalize departure from production of value boats by our own.  Purposeful organizational set-up to clarify responsibilities and improve accountability, performance and transparency  Opportunistic mind-set: aim to capitalize on market opportu

  13. Slide 13: Q & A

    Q&A Financial calendar: Q1 report 2025 29 April Annual General Meeting 16 May 13

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