Elmera Group Asa · OSL:ELMRA
Elmera Group Asa — Q3 2024 Earnings Presentation
24 slides from Elmera Group Asa's earnings presentation, 2024
Slide 1: Quarterly presentation Q3 2024
Quarterly presentation Q3 2024 ROLF BARMEN (CEO) HENNING NORDGULEN (CFO)
Slide 2: Highlights Q3 2024
Highlights Q3 2024 ROLF BARMEN (CEO)
Slide 3: Group and segment highlights
GROUP A strong quarter with significant growth in both net revenue and EBIT adj. YoY. Group OPEX adj. decreased by NOK 8m YoY, in line with cost target. Refinancing completed. CONSUMER BUSINESS Stable volume sold YoY. Stable volume sold YoY. YoY increase in profitability driven by both margin improv
Slide 4: Financial review Q3 2024
Financial review Q3 2024 HENNING NORDGULEN (CFO)
Slide 5: Key financials Q3 2024
Key financials Q3 2024 Net revenue adj. NOK 368m (NOK 350m) and EBIT adj. NOK 79m (NOK 53m). LTM Net revenue adj. NOK 1 780m (NOK 1 631m) and LTM EBIT adj. NOK 572m (NOK 384m). YoY improvements in EBIT adj. from the Consumer, Business and Nordic segments driven by margin improvements, supported by c
Slide 6: Market development
Market development Weekly elspot prices (NOK/kWh)1 Monthly supplier changes in Norway (‘000)2 1,4 120 1,2 100 1,0 80 0,8 60 0,6 40 0,4 0,2 20 0,0 - 1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52 1 2 3 4 5 6 7 8 9 10 11 12 2023 2024 2024 2023 2022 2021 Sources: 1) Weekly system prices in NOK from
Slide 7: Consumer segment
Consumer segment Deliveries (‘000) Net revenue adj. (NOKm) • Number of deliveries have 250 763 821 810 810 827 900 stabilised after the price changes Tusener 800 in Q2. 200 700 600 • Significant increase in net revenue 150 500 265 674 667 667 661 661 100 211 400 YoY, driven by improved margins. 159
Slide 8: Business segment
Business segment Deliveries (‘000) Net revenue adj. (NOKm) 140 200 557 549 546 554 567 600 120 500 • Another strong quarter for the 150 100 400 segment. 80 127 127 127 128 128 100 174 300 • Stable development in both 60 161 40 123 200 number of deliveries and volume 50 96 109 20 100 sold YoY. 0 0 -
Slide 9: Nordic segment
Nordic segment Deliveries (‘000) Net revenue adj. (NOKm) 70 222 223 250 140 206 213 • Substantial customer growth in the 60 120 164 200 quarter, particularly in the B2C 100 50 150 market, driven by increase in 80 40 65 internal sales capacity. 60 128 125 122 30 60 100 116 116 51 40 20 38 48 • 25% vo
Slide 10: New Growth Initiatives
New Growth Initiatives Volume sold Alliance (TWh) Net revenue adj. (NOKm) 2 3,7 3,6 3,5 4 70 172 185 200• Stable development in mobile 3,4 3,4 Tusener 157 163 180 60 147 subscribers. 160 3 50 140 120• Volume sold increased by 9% YoY. 1 40 2 100 30 58 80 • Reduction in net revenue YoY, as 1,09 1,15 1
Slide 11: NWC and net cash position
NWC and net cash position Net working capital (NOKm)1 Net cash (NOKm)1 200 ( 638) 150 ( 687) ( 865) 100 (15) 171 (39) 144 (27) (22) (49) 50 84 «Cash EBIT adj.» in the 185 quarter: NOK 90m - -15 - 50 Net cash Change in EBITDA adj. CAPEX ex. Payments to Net interest Net cash Non-cash Net cash Q3 2023
Slide 12: Outlook
Outlook ROLF BARMEN (CEO) —= Elmera Group
Slide 13: Financial targets 2024-2025
Financial targets 2024-2025 ▪ Net revenue growth in all segments in 2024 and 2025. ▪ Stable nominal opex adj., in line with 2023, for 2024 and 2025. P&L ▪ EBIT adj. in the area of NOK 550-600m for 2024 and 2025 with a positive development throughout the period. ▪ Target pay-out ratio of at least 80%
Slide 14: Key investment highlights
Key investment highlights 1 Operating in the attractive Nordic electricity retailing market with a stable demand profile and growth opportunities from increased electrification. A comprehensive product offering, including risk mitigation products and other value-added services, empowering customers
Slide 15: Q&A
Q&A ElmeraGroup
Slide 16: Appendix
Appendix
Slide 17: Adjusted EBIT reconciliation
Adjusted EBIT reconciliation Quarterly presentation | Q3 2024 17
Slide 18: Profit and Loss account
Profit and Loss account Quarterly presentation | Q3 2024 18
Slide 19: Balance sheet
Balance sheet Quarterly presentation | Q3 2024 19
Slide 20: Balance sheet
Balance sheet Quarterly presentation | Q3 2024 20
Slide 21: Cash flow
Cash flow Quarterly presentation | Q3 2024 21
Slide 22: Cash flow
Cash flow Quarterly presentation | Q3 2024 22
Slide 23: Rolf Barmen (CEO), Henning Nordgulen (CFO)
• Rolf Barmen (CEO) • Henning Nordgulen (CFO)
Slide 24: Forward-looking statements
Forward-looking statements This presentation contains, or may be deemed to contain, statements that are not historical facts but forward-looking statements with respect to Elmera Group’s expectations and plans, strategy, management’s objectives, future performance, costs, revenue, earnings and other