Slide 1: Duell Corporation Financial Report Q1 2024
Duell Corporation Financial Report Q1 2024 September 2023-November 2023
Slide 2: A leading Nordic and European powersports aftermarket distributor
A leading Nordic and European powersports aftermarket distributor 3.9% (7.0) Tampere 119 M€ (124) Duell’s established markets Net sales Adjusted EBITA Duell’s growth markets 9/2022–8/2023 9/2022–8/2023 Frölunda Key figures* • 150,000 SKUs • >550 brands Veghel, Deventer New Milton • 600 suppliers Sal
Slide 3: All powersports accessories from motorbikes to marine
All powersports accessories from motorbikes to marine Technical and spare parts 70% Personal equipment 30% 3
Slide 4: Strong presence in all dealer channels
Strong presence in all dealer channels Sales split by customer type E-commerce Retailers Specialty shops % 25% of net 75% Repair and spare parts shops sales Powersports equipment manufacturers 4
Slide 5: Q1 2024 Business Report
Q1 2024 Business Report 5
Slide 6: Q1: Focusing on profitability improvement in challenging market conditions
Q1: Focusing on profitability improvement in challenging market conditions • Net sales with comparable currencies Net sales increased increased by 7.4% by 4.9% • Organic net sales decreased by 7.5% • Gross margin increased from 22.3% to 23.9% Gross margin and • Adjusted EBITA margin increased from a
Slide 7: Main events in Q1 2024 and after review period
Main events in Q1 2024 and after review period • Cost savings programme to adjust operating costs to lower-than-expected demand completed in September • Appointment of Magnus Miemois, a new COO and Deputy CEO was announced in September • Started on January 1, 2024 • New financial agreement in Novemb
Slide 8: Summary of Q1 2024 financials
Summary of Q1 2024 financials Q1 2024 Q1 2023 Key figures and ratios FY 2023 (9/2023- 9/2022- (9/2022- Net sales Q1 EUR thousand 11/2023) 11/2022) 8/2023) • Nordics, 15.1 M€ (16.0) Net sales 27,014 25,751 118,832 Net sales growth, % 4.9 -5.2 -4.2 • 55.9% of net sales (62.2%) Net sales with comparabl
Slide 9: Focus areas and outlook for financial year 2024
Focus areas and outlook for financial year 2024 Focus during financial year 2024 Outlook for financial year 2024 (unchanged) • Profitability improvement programme will • Market uncertainty and weakness will persist in financial year continue throughout 2024 2024. Overall challenging market situation
Slide 10: Strategic objectives and cornerstones
Strategic objectives and cornerstones Key strategic objectives Strategic cornerstones • To be the best partner for dealers and • Geographical market expansion brand owners throughout Europe • Partner for building online sales • Strengthen the leading market position • Brand portfolio development in
Slide 11: 4O nue
140198105 v2 4O nue YEARS HQ | Mustasaari, Finland T | +358 (0) 20 118 000 E | info@duell.eu | forename.surname@duell.eu W | www.duell.eu HQ | Duell Oyj | Kauppatie 19 | 65610 Mustasaari Offices & warehouses | Finland | Sweden | Norway | Denmark | Netherlands | Germany | France | United Kingdom 11