Bhg Group Ab · OMXSTO:BHG
Bhg Group Ab — Q4 2020 Earnings Presentation
32 slides from Bhg Group Ab's earnings presentation, Jan 29, 2021
Slide 1: 2020/Q4 Strong end to record year
2020/Q4 Strong end to record year
Slide 2: Today's presenters
bh. 2020/Q4 Today’s presenters Adam Schatz Jesper Flemme President and CEO CFO * BHG since 2019 * BHG since 2016 * Axiell Group 2015-2019 (Exec. VP and CFO) * Addedo 2014-2016 (Senior Consultant) * Gambro and Baxter 2008-2015 (Regional CFO, Head of * CDON Group (now Qliro Group) 2012-2014 (Group UK
Slide 3: Agenda
1/29/2021 Agenda * Results highlights * Business update * Financial update Q4 2020 * Group * DlYsegment * Home Furnishing segment * Cash flow and financial position Summary * Q&A Christian Trolle CE Gol lense
Slide 4: Agenda
1/29/2021 Agenda * Results highlights * Business update * Financial update Q4 2020 * Group * DlYsegment * Home Furnishing segment * Cash flow and financial position Summary * Q&A Christian Trolle CE Gol lense
Slide 5: Select financial highlights
Select financial highlights Strong end to record year
Slide 6: Organic growth
Organic growth Y-on-Y acceleration
Slide 7: Our strategy remains focused on four cornerstones
Our strategy remains focused on four cornerstones The BHG ecosystem
Slide 8: Agenda
Agenda * Results highlights Business update Financial update Q4 2020 * Group * DIY segment * Home Furnishing segment * Cash flow and financial position Summary * Q&A fe licia Jakobsson 1729/2021 Sales Quality Coordinator B gghemma.se
Slide 9: BHG at a glance – significant scale and profitability
BHG at a glance – significant scale and profitability
Slide 10: The Group's largest acquisition to date
– the Group’s largest acquisition to date • • • • •
Slide 11: Announcing updated medium term financial targets
Announcing updated medium term financial targets • • • • • •
Slide 12: Growth in number of active customers >50% YoY
Growth in number of active customers >50% YoY • • • • 26,0% 24,1% 21,6% 21,7% 20,7% 5,1% 5,7% 4,3% 4,3% 4,3% 2016 2017 2018 2019 2020 Gross margin% Marketing/Sales
Slide 13: Agenda
1/29/2021 Agenda * Results highlights * Business update * Financial update Q4 2020 * Group * DIY segment * Home Furnishing segment * Cash flow and financial position * Summary Q&A Katja Hempel Graphic Designer & Campaign Coordinator Bygghemma.se
Slide 14: Continued strong growth and profitability in the quarter
Continued strong growth and profitability in the quarter 2 354,6 194,1 1 644,6 923,0 63,6 685,3 90,0 1 439,2 50,7 142,8 963,3 49,2 Q4 2019 Q4 2020 Q4 2019 Q4 2020 DIY Home Furnishing Eliminations DIY Home Furnishing Other*
Slide 15: Continued robust development in KPIs
Continued robust development in KPIs
Slide 16: Highest quarterly gross margin to date
Highest quarterly gross margin to date
Slide 17: DIY segment: Strong growth and extraordinarily high profitability
DIY segment Strong growth and extraordinarily high profitability • • 1 439,2 142,8 • 963,3 • 49,2 Q4 2019 Q4 2020 Q4 2019 Q4 2020 •
Slide 18: Home Furnishing segment: Ninth consecutive quarter of solid growth
Home Furnishing segment Ninth consecutive quarter of solid growth and margins • • 923,0 • 685,3 63,6 50,7 • Q4 2019 Q4 2020 Q4 2019 Q4 2020 •
Slide 19: Continued strong cash generation
Cash flow and financial position Continued strong cash generation 161,8 994,3 994,3 902,7 (14,2) (56,0) 270,3 1 075,3 299,0 (2 040,9) EBITDA Adjustments Income tax Change in Cash flow from Q4 2019 CF from CF from CF from Q4 2020 for items not paid working operating liquidity operating investing fina
Slide 20: BHG's financial position remains solid
Cash flow and financial position BHG’s financial position remains solid • • •
Slide 21: Agenda
1/29/2021 Agenda * Results highlights * Business update * Financial update Q4 2020 * Group * DlYsegment * Home Furnishing segment * Cash flow and financial position * Summary * Q&A Linus Olsson Business Controller BHG
Slide 22: Q4 Summary
Q4 Summary yon Eins RESET * Q4caps record - and transformative - year wth! + Fifth quarter in a row of organic growth significantly higher than communicated targets Largest acquisition to date Strong gross and bottom-line margins Fleets ania 4 * BHG ecosystem: Further expansion of logistics and inst
Slide 23: Agenda
1/29/2021 Agenda * Results highlights * Business update * Financial update Q4 2020 * Group * DIY segment * Home Furnishing segment * Cash flow and financial position * Summary ° Q&A Sebastian Holtze cco Bygghemma.se
Slide 24: Appendix
bh. 1/29/2021 Appendix 24
Slide 25: Condensed consolidated financial information
Condensed consolidated financial information ∆% ∆%
Slide 26: DIY segment
DIY segment Oct-Dec Jan-Dec SEKm (if not otherwise stated) 2020 2019 A% 2020 2019 A% Net sales 14392 9633 494 56631 37008 530 Gross profit 3615 2229 62213274 7943 OAT Gross margin (%) 254 231 20pp. 234 215 20pp. Adjusted EBITDA 168.4 69.0 1438 576 235.4 1428 Adjusted EBITDA margin (%) Wz 72 45pp. 10
Slide 27: Home Furnishing segment
Home Furnishing segment Oct-Dec Jan-Dec SEKm (if not otherwise stated) 2020 2019 A% 2020 2019 A% Net sales 92306853 3473337225331 37 Gross profit 2801 1917 46140054 6975 441 Gross margin (%) 303 280 24pp 301 275 26pp. Adjusted EBITDA 34 726 286 3821 2627 455, Adjusted EBITDA margin (%) 101 10.6 -OSp
Slide 28: P&L
1/29/2021 P&L Oct-Dec Jan-Dec seEkm 2020 2019 2020 2019 Netsales 23546 1,644.6 8,968.2 62125 Other operatingincome 54 24 42 03 Total net sales 2,360.0 1,647.0 8,972.4 6.2127 Cost of goods sold 4783-12303 66374 47219 Personnel costs 185.9 144.2 6572 493.4 Other external costs and operating expenses “
Slide 29: Balance sheet
1/29/2021 Balance sheet 210s. Nen-curentaaset Good p53 26967 heritable aad sets taoea zeae ‘otalintangibilined assets ‘i902 Susdngr anand 100 ‘07 Leased sets og as02 Tangblofied asst “uo (8 Financial fhacaeats 94 46 Deferred imasset kal 25, “etait ets Ca) Invntriae oa Current recites 3595, Gasnardca
Slide 30: Consolidated statement of cash flows
Consolidated statement of cash flows
Slide 31: Reconciliation of non-IFRS metrics
Reconciliation of non-IFRS metrics
Slide 32: Slide 32