Bhg Group Ab · OMXSTO:BHG
Bhg Group Ab — Q3 2021 Earnings Presentation
35 slides from Bhg Group Ab's earnings presentation, Oct 28, 2021
Slide 1: Journey of growth continues
2021/Q3 Journey of growth continues
Slide 2: Today's presenters
Today´s presenters Adam Schatz Jesper Flemme
Slide 3: Agenda
BHG GROUP Q3 2021 28/10/2021 Agenda * Results highlights Business update Financial update Q3 2021 * Group * DIY segment * Home Furnishing segment * Cash flow and financial position Conclusions * Q&A
Slide 4: Agenda
BHG GROUP Q3 2021 28/10/2021 Agenda * Results highlights Business update Financial update Q3 2021 * Group * DIY segment * Home Furnishing segment * Cash flow and financial position Conclusions * Q&A
Slide 5: Select financial highlights
Select financial highlights Journey of growth continues, in a post-covid operating environment Sales Earnings Cash flow 3,060m 164m -232m Total: 33.6% Pro-forma organic: 10.2% Organic: 5.5% 5.4%
Slide 6: Organic growth
Organic growth Y-on-Y development INCLUDING M&A P.F.
Slide 7: Significantly strengthened position
Significantly strengthened position • • • • • • •
Slide 8: BHG… plenty of room for sustained growth
BHG… plenty of room for sustained growth Strong geographic footprint – in rapidly growing markets
Slide 9: Agenda
BHG GROUP Q3 2021 28/10/2021 Agenda * Results highlights Business update Financial update Q3 2021 * Group * DlYsegment * Home Furnishing segment * Cash flow and financial position Conclusions * Q&A
Slide 10: Our strategy remains focused on four cornerstones
Our strategy remains focused on four cornerstones The BHG ecosystem The Product Offering as the base… …with the Customer at the centre
Slide 11: Organic + M&A + Synergies
Organic + M&A + Synergies BHG - Clear value creation path • • • • • • • • • • • • • •
Slide 12: Strong development in recent acquisitions
Strong development in recent acquisitions So far this year, we have added six new businesses to the portfolio • • • • • • • • • • • • • • •
Slide 13: We are taking important steps to accelerate our organic initiatives
We are taking important steps to accelerate our organic initiatives Assortment Delivery Data & Automation • Assortment expansion – evolving • Drop shipping 2.0 – investments • Significant investments to the BHG ecosystem of external in tech and automation to further maximise the breadth of our and p
Slide 14: 32% YoY pro-forma growth in active customers
32% YoY pro-forma growth in active customers • • •
Slide 15: BHG at a glance – significant scale and profitability
BHG at a glance – significant scale and profitability
Slide 16: Agenda
BHG GROUP Q3 2021 28/10/2021 Agenda * Results highlights Business update Financial update Q3 2021 * Group * DlYsegment * Home Furnishing segment * Cash flow and financial position Conclusions * Q&A
Slide 17: We remain strong, in a post-covid environment
We remain strong, in a post-covid environment 33.6% 3 060,5 8.5% 5.4% -15.2% 2 290,3 1 205,9 833,8 194,0 164,5 82,9 1 862,0 48,5 1 463,8 131,2 129,5 Q3 2020 Q3 2021 Q3 2020 Q3 2021 DIY Home Furnishing Eliminations DIY Home Furnishing Other*
Slide 18: Bridge 2020 Q3 → 2021 Q3
Bridge 2020 Q3 → 2021 Q3 • • • • • • •
Slide 19: DIY segment
DIY segment Solid quarter given high comparative figures and market-related challenges • • +27% -1.3% 1 862,0 1 463,8 • 131,2 129,5 23.1% 23.3% 9.0% 7.0% • Q3 2020 Q3 2021 Q3 2020 Q3 2021 •
Slide 20: Home Furnishing segment
Home Furnishing segment Third quarter characterised by weaker demand, higher traffic generation costs and continued supply chains disruptions • • +45% -42% 1 205,9 • 833,8 82,9 48,5 30.7% 29.3% 9.9% 4.0% • Q3 2020 Q3 2021 Q3 2020 Q3 2021
Slide 21: Cash flow impacted by supply-side disruptions
Cash flow and financial position Cash flow impacted by supply-side disruptions 221,9 0,6 (24,0) 1 948,7 677,4 223,6 299,0 (430,5) ( 232,0) (1 793,9) EBITDA Adjustments for Income tax paid Change in Cash flow from items not working capital operating Q4 2020 liquidity CF from CF from CF from Q3 2021 l
Slide 22: BHG's financial position remains robust
Cash flow and financial position BHG’s financial position remains robust Overview of financial position • Net debt / EBITDA of 1.8x, within financial target of 1.5-2.5x • The Group’s unutilised credit facilities amounted to SEK 800 million at the end of the period, compared with SEK 300 million at t
Slide 23: Agenda
BHG GROUP Q3 2021 28/10/2021 Agenda * Results highlights * Business update * Financial update Q3 2021 * Group * DlYsegment * Home Furnishing segment * Cash flow and financial position Conclusions * Q&A
Slide 24: Several initiatives launched on next leg of our ESG journey
Several initiatives launched on next leg of our ESG journey We are determined to incorporate ESG into our entire value chain
Slide 25: Q3 Summary
BHG GROUP Q3 2021 Q3 Summary Growth journey continues Leading online position strengthened; Nordics and the European continent Temporary headwinds from tough markets, impacting HF-segment in particular Execution on organic growth initiatives in full swing High M&A rate and focused Post Merger Integr
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Slide 27: Appendix
BHG GROUP Q3 2021 Appendix 28/10/2021
Slide 28: Condensed consolidated financial information
Condensed consolidated financial information ∆% ∆%
Slide 29: DIY segment
BHG GROUP Q3 2021 DIY segment Jul-Sep Jan-Sep Jan-Dec SEkm (if not otherwise stated) 2021-2020 A% 2021-2020 A% 2020 Net sales 18620 14638 272 | 54349 42239 287 5,631 Gross profit 4336 3375 285 13429 9625 305 13228 Gross margin (%) 233 231 O2pp. 247 228 © 19pp. 24 Adjusted EBITDA 16211555 43 5521 403
Slide 30: Home Furnishing segment
BHG GROUP Q3 2021 Home Furnishing segment Jul-Sep Jan-Sep Jan-Dec SEKm (if not otherwise stated) 2021 2020 A% 2021 2020 A% 2020 Netsales 12059 8338 446 | 37696 2.4142 561 3.3372 Gross profit 3528 ©2556 381 10872 7253 499 1005.4 Gross margin (%) 293 307 -l4pp. 28.8 30.0 -l2pp. 301 Adjusted EBITDA, 92
Slide 31: P&L
BHG GROUP Q3 2021 P&L Jul-Sep Jan-Sep Jan-Dec SEKm 2021 2020 2021 2020 2020 Net sales 30605 22903 91788 66136 89682 Other operatingincome 05 04 06 01 43 Total net sales 3,060 2,290.7 9179.5 6,613.7 8,972.5 Cost of goods sold 22744 “16980 67518 49274 6,642.0 Personnel costs -2357 1648 6979 4879 0526
Slide 32: Balance sheet
BHG GROUP Q3 2021 Balance sheet 205ep, De ken EE) 255 Good 4033 3050043051 Giher ictal aed asa 29016, 13981, 804 “otalntangibiened ase Cea cS Suldngr anand 308 108 0 Lesediea ase wea ars eas Tangblofied asst 106 5 140 Final fhadaeats Bo 85 94 Deterad tnaset 235, 18, 1 “Failed assets rsa OMS Invantre
Slide 33: Consolidated statement of cash flows
Consolidated statement of cash flows
Slide 34: Reconciliation of non-IFRS metrics
Reconciliation of non-IFRS metrics
Slide 35: a ee
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