Relais Group Oyj · OMXHEX:RELAIS
Relais Group Oyj — H1 2020 Earnings Presentation
29 slides from Relais Group Oyj's earnings presentation, Aug 14, 2020
Slide 1: Profitable growth in exceptional circumstances
Profitable growth in exceptional circumstances Relais Group Plc – Half-year financial report January-June 2020 August 14, 2020 CEO Arni Ekholm and CFO Pekka Raatikainen
Slide 2: Content
Content • January-June 2020 in brief • Major events after the review period • Strategy and outlook • Shares and shareholders Relais Group Plc acquired the shares of AB Reservdelar (ABR) and Huzells i Karlstad AB on May 31, 2019. The companies have been included in Relais Group’s consolidated balance
Slide 3: January-June 2020 in brief
January-June 2020 in brief RELAIS
Slide 4: Relais Group's net sales grew by 56.3% and totaled EUR 59.0 (37.7) million
Relais Group Plc is an importer and technical wholesaler that actively develops its vehicle spare parts and electrical equipment business in the Nordic and Baltic countries. We have a comprehensive range of products from our well-known global principals and strong own brands. We create added value f
Slide 5: January – June 2020 in brief
January – June 2020 in brief • Net sales totaled EUR 58,959 thousand (January – June 2019: 37,720), +56.3% change • EBITA was EUR 7,490 (3,876) thousand, 12.7% (10.3%) of net sales, +93.2% change • EBIT was EUR 3,664 (2,185) thousand, 6.2% (5.8%) of net sales, +67.7% change • Comparable earnings per
Slide 6: SEC Scandinavia A/S
SEC Scandinavia A/S • On January 15, 2020, the company announced that it had acquired a 70% majority share in SEC Scandinavia A/S, a company specialising in lighting solutions for light commercial vehicles. • Founded in 1991, SEC is an importer and wholesaler specialising in auxiliary and working li
Slide 7: TD Tunga Delar Sverige AB
TD Tunga Delar Sverige AB • On February 6, 2020, the company announced that it had acquired a 95.25% majority share of Swedish TD Tunga Delar Sverige AB. • Founded in 2012, Tunga Delar is a wholesaler of spare parts and equipment for heavy-duty commercial vehicles and is operating in Sweden. • Tunga
Slide 8: Business review January 1–June 30, 2020
Business review January 1–June 30, 2020 • Net sales of Relais Group totaled EUR 59,0 (37.7) million, growing by 56.3% compared to last year. • The growth in net sales was primarily the result of the acquisitions made in 2019-2020 as well as the strong sales of spare parts, especially in Sweden. • Th
Slide 9: Net sales grew strongly
Net sales grew strongly The sales were partially affected by the COVID-19 100 pandemic during March-April. However, the sales developed favorably in all markets especially in 80 May-June. +56.3% The impact of the COVID-19 pandemic on net EUR million 60 sales for the review period varies between 98.9
Slide 10: Profitability improved as a result of acquisitions and cost control
Profitability improved as a result of acquisitions and cost control 14 12 The acquisitions made during 2019-2020 were the most significant factor for EBITA 10 growth. In addition, the success in cost control in all group companies contributed 8 +93.2% EUR million to the EBITA growth. 13.0 6 Operatin
Slide 11: Stronger balance-sheet and financial position
Stronger balance-sheet and financial position The Group's balance- The Group’s equity Net debt sheet total EUR 69,911 EUR 37,651 EUR 150,812 (43,906) (55,490) (132,668) thousand thousand thousand Net gearing Equity ratio Cash assets 53.6 46.5 EUR 26,337 (124.4) (33.6) (10,495) % % thousand 11
Slide 12: Cash flow improved significantly
Cash flow improved significantly Cash flow from operations Cash flow of investments Financing cash flow EUR 4,560 (-2,493) EUR -7,605 (-61,732) EUR 0 (73 141) thousand thousand thousand In a year-on-year comparison, there was Cash flow used in investing activities There were no draw-down or repaymen
Slide 13: Key figures
Key figures EUR thousand Jan-Jun 2020 Jan-Jun 2019 Jan-Dec 2019 Net sales 58,959 37,720 98,946 Gross profit 20,344 12,367 33,090 EBITDA 7,707 4,039 13,335 EBITDA margin, % 13.1% 10.7% 13.5% EBITA 7,490 3,876 12,976 EBITA margin, % 12.7% 10.3% 13.1% Operating profit 3,664 2,185 7,856 Operating profit
Slide 14: Major events after the review period
Major events after the review period 14
Slide 15: The Board of Directors proposes a dividend of EUR 0.10 per share be paid
The Board of Directors proposes a dividend of EUR 0.10 per share be paid • On August 14, 2020, the Company announced a notice to an Extraordinary General Meeting to be held on September 8, 2020. The Board of Directors proposes to the EGM a dividend of EUR 0.10 per share be paid. 15
Slide 16: Strategy and financial targets
Strategy and financial targets 16
Slide 17: Relais Group at the beginning of 2020
Relais Group at the beginning of 2020 Our group companies 17 Yritysesitys
Slide 18: Relais operates in the aftermarket of vehicles
Relais operates in the aftermarket of vehicles Pre-market Aftermarket – vehicle life cycle enhancement End-of-life Import and Customising national Local sales of Service Demolition Import and Manufacturing and wholesale of parts and and reselling equipping parts & equipment repair recycling & equipm
Slide 19: Strategy – the aim is to double the net sales
Strategy – the aim is to double the net sales A growing target market: Strategy: There are approximately 19 million passenger and commercial vehicles in • Organic growth – supported by the Nordic and Baltic countries. targeted synergies. The aim is Market drivers: • Growth from acquisitions – we aim
Slide 20: Market trends support our growth
Market trends support our growth Increasing complexity of vehicle components Changing vehicle powertrains Consolidation of the spare parts and equipment distribution Data generated Digitalisation of by vehicles customer interaction
Slide 21: Long-term financial targets and dividend policy
Long-term financial targets and dividend policy Growth and synergies Dividend policy The company aims to double its net sales in five Our dividend policy is to target annual dividends years. The company aims to grow through a that exceed 30 percent of the average comparable combination of organic gr
Slide 22: 2020 outlook
2020 outlook The company estimates that the visibility of the future developments remains low, especially due to the pandemic situation, a threat of a second wave of COVID-19, and the uncertain future prospects of global economic development. The company, therefore, refrains from issuing new guidanc
Slide 23: Share and shareholders
Share and shareholders 23
Slide 24: Share price development, EUR
24 10,00 4,00 5,00 6,00 7,00 8,00 9,00 17.10.2019 23.10.2019 28.10.2019 01.11.2019 07.11.2019 13.11.2019 19.11.2019 25.11.2019 29.11.2019 05.12.2019 12.12.2019 18.12.2019 27.12.2019 07.01.2020 13.01.2020 17.01.2020 23.01.2020 29.01.2020 04.02.2020 10.02.2020 14.02.2020 20.02.2020 26.02.2020 03.03.20
Slide 25: Largest shareholders June 30, 2020
Largest shareholders June 30, 2020 Shareholder Number of shares % 1. Ari Salmivuori 6,328,800 37.6 2. Nordic Industry Development AB 1 4,375,350 26 2 Number of shares 3. Ajanta Oy 464,800 2.8 4. Finnish Industry Investment Ltd (Tesi) 462,949 2.8 16,820,050 5. Ilmarinen Mutual Pension Insurance Compa
Slide 26: Summary: Profitable growth in exceptional circumstances
Summary: Profitable growth in exceptional circumstances • The past review period has demonstrated that our strategy works in varying market situations. • Net sales grew strongly and were positively affected mainly by the impact of acquisitions in 2019 and 2020 as well as the strong sales of spare pa
Slide 27: PS: New, exciting lighting products are coming in the fall…
PS: New, exciting lighting products are coming in the fall…
Slide 28: Questions?
Questions? 28
Slide 29: RELAIS
RELAIS