Hagar Hf. · OMXICE:HAGA
Hagar Hf — Q3 2023/24 Earnings Presentation
27 slides from Hagar Hf's earnings presentation, Jan 11, 2024
Slide 1: Presentation of Q3 results 2023/24
Presentation of Q3 results 2023/24 Increased attendance to Hagar’s stores and for services Finnur Oddsson, CEO Guðrún Eva Gunnarsdóttir, CFO January 11th, 2024 *This presentation is translated from the Icelandic version which was published on January 11th, 2024. Should there be discrepancies between
Slide 2: Overview
Overview Highlights from operations Financial statements Status and prospects 2
Slide 3: Quarter in a nutshell: Key figures
Quarter in a nutshell: Key figures Q3 2023/24 (changes from Q3 2022/23) 43.7 b.ISK. 3.2 b.ISK. 1.1b.ISK. sales EBITDA* profit* 8.6% 24.3% 22.6% 20.7% 13.7% 35.3% gross margin labour and cost ratio equity ratio 2.6%points 0.5%points 2.5%points * Effect of one-off items on Q3 2022/23 regarding repayme
Slide 4: External factors: Weakening exchange rate and falling fuel price in Q3
External factors: Weakening exchange rate and falling fuel price in Q3 Consumer Price Index, annual change, % 12,5 ▪ Inflation rather 9,9 9,7 9,3 9,4 9,3 9,6 9,9 10,2 9,8 9,9 9,5 8,9 10,0 8,8 8,0 7,9 8,0 6,7 7,2 7,6 7,6 7,7 7,7 stable around 8% in 7,5 5,7 6,2 the period – then 5,0 decreased slightly
Slide 5: This stands out in the quarter
This stands out in the quarter ▪ Operations in Q3 proceeded well in all sections and earnings were satisfactory - the management’s guidance was revised as rising in December ▪ Continued good revenue growth, due to inflation and volume increase - sold units in grocery stores and fuel litres increase
Slide 6: Stores and warehouses: Increased activities and better revenue
Stores and warehouses: Increased activities and better revenue Income Statement Q3 2023/24 (m.ISK) ▪ Income from groceries, specialty products and warehouses grew by 15.5% between the years and Q3 '23/24 Q3 '22/23 Δ %Δ amounted to 30.3 b.ISK Income 30.271 26.217 4.054 +15,5% ▪ Stronger results where
Slide 7: Bónus: Operations strengthening with more visits than ever
Bónus: Operations strengthening with more visits than ever ▪ Sales in Q3 amounted to just about 21 b.ISK and grew by just over 15% from previous year - results getting proportionally stronger between the years ▪ Continuing increased activity - customers visits and sold units rising considerably betw
Slide 8: Hagkaup: Continuing rise in visits and operations getting stronger
Hagkaup: Continuing rise in visits and operations getting stronger ▪ Sales in Q3 amounted to just over 6 b.ISK and grew by just about 8% from the previous year - operations getting stronger between the years ▪ Use of operational technology and automation successful - automatic orders and electronic
Slide 9: Olís: Continuing strong operations with increased demand
Olís: Continuing strong operations with increased demand Income Statement Q3 2023/24 (m.ISK) ▪ Income in Q3 amounted to 13.8 b.ISK and decreased Q3 '23/24 Q3 '22/23 Δ %Δ by 7% between the years - world fuel market price lower than in the last year Income 13.839 14.833 -994 -6,7% Expenses -12.990 -13
Slide 10: Executive positions: Björgvin and Ingunn Svala employed at Bónus and Olís
Executive positions : Björgvin and Ingunn Svala employed at Bónus and Olís ▪ Björgvin Víkingsson took over as the CEO of Bónus on January 1st ▪ Ingunn Svala Leifsdóttir took over as the CEO of Olís on January 1st ▪ Ingunn Svala previously worked as a manager of operations at Dohop and before that as
Slide 11: Eldum rétt: Extensive volume increase and excellent operation in the first year
Eldum rétt: Extensive volume increase and excellent operation in the first year ▪ Hagar acquired Eldum rétt operations in November 2022, but the integration of Eldum rétt into Hagar has been successful ▪ Eldum rétt is an imposing addition to Hagar's operations, increased variety for customers and an
Slide 12: Overview
Overview Highlights from operations Financial statements Status and prospects 12
Slide 13: Results exceeding plans in Q3
Results exceeding plans in Q3 Income statement Q3 2023/24 (m.ISK) ▪ Sales in Q3 amounted to 43.7 b.ISK and grew by 8.6% between the years or by 3.5 b. ISK ▪ Gross margin in ISK totalled 9.1 b.ISK and Q3 '23/24 Q3 '22/23 Δ %Δ increased by 24.1% between the years Sales 43.683 40.220 3.463 +8,6% ▪ The
Slide 14: Excellent operation in the first nine months of the operational year
Excellent operation in the first nine months of the operational year Income statement 9M 2023/24 (m.ISK) ▪ Sales 9M grew by 7.1% between the years or by 8.7 b.ISK 9M '23/24 9M '22/23 Δ %Δ ▪ Stores and warehouses sales increase amounted to 16.2%, while the decline at Sales 130.482 121.832 8.650 +7,1%
Slide 15: Good sales increase characterise the last years
Good sales increase characterise the last years Operational key factors (9M 2019/20 – 9M 2023/24) Sales (b.ISK.) Gross margin (%) ▪ Continued good increase in sales between the years - driven by increased Sales and 121.8 130.5 22.1 21.9 21.1 19.1 20.7 gross 87.7 89.0 100.5 activity in operations and
Slide 16: Strong cash flow the first nine months of the operational year
Strong cash flow the first nine months of the operational year Cash flow statement 9M 2023/24 (m.ISK) 9M 2023/24 9M 2022/23 Change ▪ Cash from operations in the period Profit for the period 3,853 4,214 -361 amounted to 7.0 b.ISK and increased compared to previous year by 467 m.ISK Adjustments 6,257
Slide 17: Assets increase to a reasonable extent in the period
Assets increase to a reasonable extent in the period Balance sheet 30th November 2023 (m.ISK) ▪ Non-current assets grew by 3.7 b.ISK from the end of the year 2022/23 – mainly due to investments in properties, operating 30. 11. 28. 2. 30. 11. 28. 2. 2023 2023 %Δ 2023 2023 %Δ assets and a rising leasi
Slide 18: The Board's objective for equity ratio realised
The Board’s objective for equity ratio realised Economic key factors (9M 2019/20 – 9M 2023/24) Return on equity (%) Equity ratio (%) ▪ Return on equity 16.9% over the last Share- 18.6 39.5 39.8 40.3 12 months holders 16.3 16.9 37.8 35.3 12.2 9.8 ▪ The equity ratio at the end of Q3 was return 35.3%,
Slide 19: Overview
Overview Highlights from operations Financial statements Status and prospects 19
Slide 20: Market price and largest shareholders
Market price and largest shareholders Market price Closing price 30.11.2023: 66.5 ISK / share 90 80 70 60 50 40 1.5.2020 1.9.2020 1.1.2021 1.5.2021 1.9.2021 1.1.2022 1.5.2022 1.9.2022 1.1.2023 1.5.2023 1.9.2023 1.1.2024 Date Largest shareholders, shares held at end of 30.11.2023 1. Gildi - Pension f
Slide 21: Earning per share continue to grow
Earning per share continue to grow Accumulated earnings per share last 12 months (ISK per share) ▪ Earnings per share continue to grow - +107% accumulated profit now 4.16 ISK per 4.3 4.4 4.4 share for the last 12 months, which is a 4.2 4.0 4.2 0.7* 107% increase from Q3 2020/21 3.6 3.7 0.7* 0.7* 0,7
Slide 22: Status and prospects (1/2)
Status and prospects (1/2) ▪ Operations have strengthened alongside with increased volume sold in groceries and fuel, and due to streamlining and new business sections ▪ Prospects continue to be excellent - Operational units with excellent standing - general demand increase - The most economical foo
Slide 23: Status and prospects (2/2)
Status and prospects (2/2) ▪ Labour agreements that promote price stability have the utmost importance for homes and businesses - the most vital task today - Hagar's special emphasis on procurement strives against price increases of supplies for shops and supports the criteria for labour agreements
Slide 24: .hagar
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Slide 25: Companies within the Hagar Group
Companies within the Hagar Group Associates WITHIN THE GROUP Bónus is a chain of discount Hagkaup is a leading retail Olís specialises in the sale Eldum rétt offers it’s stores that, from its founding, company which emphasises and service of fuel and other customers food packages has offered the cus
Slide 26: Disclaimer
Disclaimer On behalf of Hagar, attention is drawn to that the statements and information in this presentation are based on, as appropriate, the plans and estimates of the company's directors, but not on facts that may be verified at the publication of the presentation or by any discussion by the com
Slide 27: .hagar
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