Viva Wine Group Ab · OMXSTO:VIVA
Viva Wine Group Ab — Q3 2024 Earnings Presentation
21 slides from Viva Wine Group Ab's earnings presentation, Nov 20, 2024
Slide 1: Quarterly Results Q3 2024
VIVA WINE GROUP QUARTERLY RESULTS Q3 2024 . ——Z x =
Slide 2: Agenda
AGENDA Introduction to Viva Wine Group Quarterly Update Financial Overview Performance by Segment Emil Sallnäs Final Comments CEO & Founder Linn Gäfvert Q&A CFO
Slide 3: Introduction
INTRODUCTION
Slide 4: This is us
THIS IS US Two segments RTM eCom 17% Nordics 83% Segment Nordics Segment eCom 3 11 SWEDEN FINLAND NORWAY PLATFORMS MARKETS
Slide 5: Quarterly Update
QUARTERLY UPDATE
Slide 6: Q3 Performance Summary
Q3 PERFORMANCE SUMMARY All time high Q3 market share in Nordics Net sales increased by 4.8%. Organic growth of 5.8% Adj. EBITA margin of 9.9% (8.1%) Strong increase in profitability (+27%)
Slide 7: Financial Overview
FINANCIAL OVERVIEW
Slide 8: Growth in Net Sales
GROWTH IN NET SALES Net Sales per segment Q3 2024 vs Q3 2023, SEKm +4.8% 61 0 0 -15 • Continued strong growth in the Nordics. 998 952 • Low consumer sentiment affects trade in eCom • Organic growth 5.8% (4.5%) in the quarter. Net Sales Nordics eCom Other Eliminations Net Sales Q3 2023 Q3 2024
Slide 9: Strengthened Adj EBITA Margin
STRENGTHENED ADJ EBITA MARGIN Adjusted EBITA per segment +27.7% Q3 2024 vs Q3 2023, SEKm 29 -5 -2 0 98 77 • Strengthened Adj. Ebita margin is driven by the Nordics from sales increase and 9.9% improved GM. 8.1% • Low consumer sentiment affects trade in eCom hence lower adj Ebita margin. Adj. EBITA N
Slide 10: Net Working Capital – Timing Effects
NET WORKING CAPITAL – TIMING EFFECTS Net Working Capital, SEKm Net Debt, SEKm Net Working Capital NWC/Net Sales LTM Net Debt Net Debt to BITDA LTM 615 519 456 491 421 402 11.0% 11.1% 10.1% 1.8x 1.7x 1.1x 2022 2023 2024 2022 2023 2024
Slide 11: Cash Flow Strong from Operating Activities
CASH FLOW STRONG FROM OPERATING ACTIVITIES Cash Flow QTD, SEKm 26 -3 -13 • Cash flow from operating activities was strong during the quarter but strongly affected by timing effects in trade payables. -5 -6 • Cash flow from financing activities according to plan. 14 14 Cash 2024- Operating Investing
Slide 12: Performance by Segment
PERFORMANCE BY SEGMENT
Slide 13: Segment Nordics
SEGMENT NORDICS Monopoly volume & market share development # 1 in the Nordics Q3 2024 Market Viva Wine Group Viva MS% Increasing market share in the Nordic monopoly markets. 22.2% -3.5% +3.1% (20.8%) The market declined in the Nordic monopolies vs PY. 27.7% -1.2% +3.9% (26.3%) Our agile and consumer
Slide 14: Segment Nordics – Net Sales and Adj. EBITA Development
SEGMENT NORDICS – NET SALES AND ADJ. EBITA DEVELOPMENT Net Sales increased by 7.8% vs Q3 2023. Organic Adj. EBITA margin - increased in Q3 reaching growth of 8.3%. targeted profitability level. Main driver is an increase in sales and GM percentage. Net Sales Adjusted EBITA margin +7.8% 88 842 59 10.
Slide 15: Segment Viva eCom
SEGMENT VIVA ECOM Organic growth in the quarter of -6.0% GM percentage steady at 40.2% in Q3 Continued focus on improvement in existing markets. Slow market and very low consumer sentiment
Slide 16: Segment Viva eCom – Net Sales and Adj. EBITA Development
SEGMENT VIVA ECOM – NET SALES AND ADJ. EBITA DEVELOPMENT Organic growth of -6.0%. Net sales -8.9% vs Q3 2023. Adjusted EBITA% below Q3 2023 driven by lower sales Consumer sentiment at low levels with unsteady trade. Adjusted EBITA margin Net Sales -8.9% 169 17 154 12 10.3% 7.9% Q3 2023 Q3 2024 Q3 20
Slide 17: Final Comments
FINAL COMMENTS
Slide 18: Financial Targets
FINANCIAL TARGETS Annual Organic Growth Nordics Profitability Dividend policy Indebtedness >4% 10-12% Net debt/ EBITDA 50-70% eCom Adjusted EBITA margin <2.5x of annual net profit 10-15%
Slide 19: Summary
Summary Very strong quarter – continued growth in sales Improved profitability through margin focus in the Nordics Bumpy road in e-Com We continue to screen the M&A market actively Positive outlook for FY 2024
Slide 20: Q&A
Q&A
Slide 21: Slide 21