Nobia Ab · OMXSTO:NOBI
Nobia Ab — Q4 2022 Earnings Presentation
12 slides from Nobia Ab's earnings presentation, 2023
Slide 1: Q4 2022 Results Presentation
Q4 2022 Results Presentation Jon Sintorn, CEO Henrik Skogsfors, Acting CFO
Slide 2: Nobia Group, highlights Q4
Nobia Group, highlights Q4 • Project market compensates for softer consumer 2021 Q4 2022 Q4 • Organic growth driven by higher average order values Net sales (SEKm) 3,509 3,780 • Continued inflationary pressure Organic growth (%) 2 2 • Kitchen component manufacturing ramp-up in Jönköping Gross margin
Slide 3: Cost reduction programme
Cost reduction programme • Annual run-rate cost savings of SEK 300m by mid 2024 • Restructuring of UK operations, rightsizing of certain Nordic and central Group functions - Exit of unprofitable parts of UK projects business - Closure of two UK manufacturing sites - Flattening/simplification of UK o
Slide 4: Kitchen market development
Kitchen market development Nordic market: Softer retail market. Stable project market in the period supported by housing completions. UK: Retail market softer. Trade market in the period on par with last year. London super-premium project market remains weak. Austria and Netherlands: Retail market s
Slide 5: Direct material pricing impact update Q4
Direct material pricing impact update Q4 Packaging & • Inflationary pressure continues Chemicals Joinery 5% 6% • Total on-cost for material, energy and transport of Appliances approx. SEK 260m in Q4 Frontals 26% 13% • Further mitigating price increases implemented Total DM spend ~6 BnSEK Cabinets &
Slide 6: Tomorrow Together Strategy - priorities
Tomorrow Together Strategy - priorities Sustainability and Design Leadership ambition: Growth Acceleration initiatives: Leading the industry through reduced environmental • Catapult trade growth footprint and beautiful and purposeful design • Revitalise consumer retail • Reinforce project leadership
Slide 7: Nordic region Q4
Nordic region Q4 Share of Group sales, % Share of R12 sales by country Finland • Organic net sales declined -1% (11) 13% – Growth in project sales, consumer down Norway Denmark Nordic 43% 19% 54% • Gross margin impacted by cost inflation for materials, Sweden freight and supply chain inefficiencies
Slide 8: UK region Q4
UK region Q4 Share of Group sales, % Share of R12 sales by segment Other • Organic growth 5% (-12), driven by price UK 18% Retail – Growth in retail OEM sales 32% 33% Project – Magnet slightly up 16% • Price increases compensated for direct material and Trade 33% volume impact • Higher SG&A cost lev
Slide 9: Portfolio Business Units Q4
Portfolio Business Units Q4 Share of Group sales, % Share of R12 sales by country PBU Other 14% • Organic net sales growth 6% (-10) 19% Netherlands – Organic growth in Netherlands and Austria 44% – Continued weak market for Commodore & CIE’s luxury Austria London segments 37% • Higher average order
Slide 10: Financial position
Financial position Cash flow Q4 2021 Q4 2022 Cash flow from operating activities 530 398 • Cash flow from operating activities impacted by Operating cash flow -2 -81 favorable working capital development, offset by Of w. operating profit 238 -131 the lower operating profit Of w. change in working ca
Slide 11: Going forward
Going forward • Continued price increases and drive towards higher average order values • Execute on the cost program and the re-positioning of UK • Normalise productivity in Nordic supply chains • Keep momentum in the major strategic initiatives • Capital Markets Day, 22 March in the new factory in
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