Slide 1: Year-end report January-December 2010
Year-end report January-December 2010 February 23, 2011 Magnus Agervald and Pernilla Walfridsson
Slide 2: Summary January – December 2010
Byggmax Summary January – December 2010 In 2010, sales rose by 13.5 percent and profit before tax by 16 percent • Net sales amounted to SEK 549.1 M (514.1) in Q4, and to SEK 2,773.0 M (2,443.5) for the full-year. • Operating profit totaled SEK 37.9 M (37.8) in Q4, and SEK 274.8 M (272.7) for the ful
Slide 3: Summary January – December 2010
Byggmax Summary January – December 2010 • 12 (seven in 2009) new stores were opened. – Two (none) stores were opened in the first quarter: Lahti (Finland) and Haugesund (Norway). – Five (one) stores were opened in the second quarter: Partille, Trollhättan, Karlshamn, Värnamo (Sweden) and Fredrikstad
Slide 4: Stores – more openings are planned in Sweden in 2011
Byggmax Stores – more openings are planned in Sweden in 2011 The following establishments have been announced: - Sweden: Norrtälje, Bollnäs, Ängelholm, Avesta, Enköping and Lidköping - Norway: Lillehammer - Finland: Raisio (Åbo), Pori and Porvoo The stores will be announced when the contracts have b
Slide 5: Expanded online product range launched
Byggmax Expanded online product range launched Product sales Online goods makes it possible for the customers to fulfill a larger part of their needs at Byggmax The product range will be expanded (more categories) and extended (more products in existing categories) Store Number of goods in construct
Slide 6: The new products are available on the website, but are not yet being marketed
Byggmax The new products are available on the website, but are not yet being marketed In the flooring category, products have been added, which can be seen in the list of articles The new Bathrooms category can be seen on the first page of the website February, 2011 6
Slide 7: The reference store has been updated, and the improved layout is currently being rolled out
Byggmax The reference store has been updated, and the improved layout is currently being rolled out The store in Länna has been updated with a new layout to promote higher sales and margins. Trial results were positive, and the new layout is being rolled out in the low season, to be completed by the
Slide 8: Financial objectives and dividend policy
Byggmax Financial objectives and dividend policy • Byggmax’s financial objectives are: – Annual growth in excess of 15% – An EBIT margin in excess of 11% • Dividend policy – Dividend of at least 50% of preceeding year’s net profit • Tho Board of Directors proposes a dividend of SEK 1.5 per share for
Slide 9: Financial information
Financial information February 23, 2011
Slide 10: Results trend
Byggmax Results trend • Net sales rose by 6.8 percent in Q4 and by 13.5 percent for the full-year, as a result of store openings and increased sales in existing stores. • The gross margins are in line with the year-earlier period. • Overhead costs increased during the fourth quarter, largely due to
Slide 11: Result trend (excl. listing costs)
Byggmax Result trend (excl. listing costs) • Nonrecurring costs in the form of listing costs in 2010 totaled SEK 16.7 M. Listing costs were charged to earnings in Q1 and Q2. • The operating margin in 2010 was lower than in the year-earlier period, primarily as a result of more store openings and col
Slide 12: Sales trend
Byggmax Sales trend • Q4 sales were adversely affected by the early winter. While sales growth was favorable until mid-November, sales weakened in conjunction with snow falling and remaining on the ground. • The operation’s net sales rose by 6.8 percent to SEK 549.1 M (514.1) in Q4, and by 13.5 perc
Slide 13: Gross margin
Byggmax Gross margin Q4 • Gross margin 29.7 percent (29.9) 29,9 29,7 29,8 29,7 2010 • Gross margin 29.7 percent (29.8). • The gross margin was positively affected by an improved purchasing effort, but adversely by rising timber prices, and by the price increase not being directly passed on to consum
Slide 14: Operating expenses
Byggmax Operating expenses Q4 Personnel expenses • Personnel costs and operating expenses rose a total of SEK 4.5 M. 214,7 • This was primarily due to SEK 13.3 M in expenses for stores opened after 180,3 the fourth quarter of 2009. • Expenses of SEK 1.4 M more for snow removal than in 2009 • In the
Slide 15: Financial position and cash flow
Byggmax Financial position and cash flow • Cash flow from operating activities for Q4 declined SEK 3.7 M compared with the year-earlier period, and increased SEK 46.9 M for the full-year • The improvement for the full-year 2010 was primarily attributable to a decline in short-term receivables. Febru
Slide 16: Condensed financial statements January – December 2010
Condensed financial statements January – December 2010 February 23, 2011
Slide 17: Income statement
Byggmax Income statement February, 2011 17
Slide 18: Balance sheet
Byggmax Balance sheet February, 2011 18
Slide 19: Cash-flow statement
Byggmax Cash-flow statement February, 2011 19
Slide 20: Cash-flow statement continued
Byggmax Cash-flow statement continued 1 February, 2011 Note that cash and cash equivalents in the cash flow are adjusted for blocked bank funds 20
Slide 21: Largest shareholders at December 31, 2010
Byggmax Largest shareholders at December 31, 2010 Number of Name/Address shares Holding (%) ALTOR 2003 Sarl 21 720 908 35,76% ZAMGATE INVESTMENTS (Stig Notlöv) 3 078 042 5,07% SCHRODER 2 563 786 4,22% JARRTON MANAGEMENT (Göran Peterson) 2 381 296 3,92% Lannebo fonder 2 170 227 3,57% Swedbank Robur f