Slide 1: Year-end report January-December 2014
Year-end report January-December 2014 January 26, 2015 Magnus Agervald and Pernilla Walfridsson
Slide 2: Summary January-December 2014
Byggmax Summary January-December 2014 In the fourth quarter, Byggmax’s net sales increased 10 percent and EBIT improved and amounted to SEK 38 M. • Net sales amounted to SEK 695.4 M (633.2) for the fourth quarter and SEK 3,547.2 M (3,216.4) for the full year. • Net sales for comparable stores increa
Slide 3: Summary January-December 2014
Byggmax Summary January-December 2014 • Seven (eleven) new stores were opened: four in Sweden, two in Norway and one in Finland. • 15 stores were converted to the Byggmax 2.0 concept during the quarter and 35 stores were converted during the year. • During the second quarter, Byggmax signed a new th
Slide 4: Summary January-December 2014
Byggmax Summary January-December 2014 • During the quarter the Administrative Court set aside the decision by Swedish Customs on March 26, 2012 pertaining to charges for customs and anti-dumping duties, as well as the decision by Swedish Customs on April 12, 2012 to levy additional customs charges.
Slide 5: Stores: Seven new stores were opened in 2014 and openings are planned for 2015
Byggmax Stores: Seven new stores were opened in 2014 and openings are planned for seven to 13 stores in 2015. Store network at December 31, 2014 The following stores have been opened in 2014: - Sweden: Katrineholm, Munkedal, Ullstämman (Linköping) and Värmdö - Norway: Tönsberg and Åsane (Bergen) - F
Slide 6: Byggmax will continue to invest in increased growth
Byggmax Byggmax will continue to invest in increased growth Byggmax has a number of investment areas: expansion in Finland, the online store and services. In 2014, after depreciation and amortization, these areas resulted in a total charge of 2.1% on the EBIT margin. In other words, if these investm
Slide 7: 61 stores converted to 2.0
Byggmax 61 stores converted to 2.0 Byggmax 2.0 is an updated store concept, with more articles and clearer communication, utilizing the same sales area and with improved sales control. Byggmax 2.0 stores continue to deliver promising sales increases following conversion. 15 additional store was conv
Slide 8: The Board of Directors proposes a dividend of SEK 2.6 per share
Byggmax The Board of Directors proposes a dividend of SEK 2.6 per share dividend • The Board of Directors proposes 3,0 2,6 a dividend of SEK 2.6 (2.3) per 2,5 2,3 2,0 share 2,0 1,8 1,5 1,5 • Byggmax dividend policy is to 1,0 distribute at least 50 percent of 0,5 net profits for the year dividend sek
Slide 9: Financial information
Financial information January 26, 2015
Slide 10: Results trend
Byggmax Results trend • Net sales increased by 9.8 percent in Q4. • The gross margin was 0.1 percent lower than in Q4 the preceding year. • Overheads increased during the quarter, mainly due to the rise in the number of stores. December 2014 10
Slide 11: Sales trend
Byggmax Sales trend • The operation’s net sales amounted to SEK 695.4 M (633.2) for the fourth quarter, up 9.8 percent, and to SEK 3,547.2 M (3,216.4) for the full year, up 10.3 percent. • Net sales for comparable stores increased 3.7 percent in local currency for the fourth quarter and rose 3.8 per
Slide 12: Gross margin
Byggmax Gross margin Fourth quarter 32,6 32,5 • The gross margin was 32.5 percent (32.6) 30,7 31,1 Full year • The gross margin was 30.9 percent (30.7) excluding non-recurring items and 31.1 percent including nonrecurring items. 2013 2014 Q4 12 months December 2014 12
Slide 13: Operating expenses
Byggmax Operating expenses Fourth quarter Personnel costs 339,7 • Personnel costs and other external expenses rose a total of SEK 309,1 14.3 M. • This was mainly attributable to expenses of SEK 9.5 M for stores opened after the fourth quarter of 2013. • The increase in costs during the quarter, othe
Slide 14: Net financial items
Byggmax Net financial items • Net financial items for the quarter were positively impacted by exchange-rate effects of SEK 2.8 M (positive:0.2). December 2014 14
Slide 15: Financial position and cash flow
Byggmax Financial position and cash flow • Cash flow from operating activities for the fourth quarter increased SEK 84.9 M year-on-year, which was primarily attributable to calendar effects linked to supplier payments. • Cash flow for the 12-month fiscal year rose SEK 118.6 M. • Investments relating
Slide 16: Condensed financial statements January-December 2014
Condensed financial statements January-December 2014 January 26, 2015
Slide 17: Income statement
Byggmax Income statement December 2014 17
Slide 18: Balance sheet
Byggmax Balance sheet December 2014 18
Slide 19: Cash-flow statement
Byggmax Cash-flow statement December 2014 19
Slide 20: Cash-flow statement, continued
Byggmax Cash-flow statement, continued December 2014 Note that cash and cash equivalents in the cash flow are adjusted for blocked bank funds 20
Slide 21: Largest shareholders at December 31, 2014
Byggmax Largest shareholders at December 31, 2014 Number of Name shares Holding (% ) Nordea Investment Funds 6,115,778 10.07 Swedbank Robur fonder 4,369,140 7.19 SEB Investment Management 3,594,648 5.92 HANDELSBANKEN FONDER AB RE JPMEL 3,561,862 5.86 Norges Bank Investment Management 3,384,378 5.57