Nimbus Group Ab · OMXSTO:BOAT
Nimbus Group Ab — Q1 2021 Earnings Presentation
16 slides from Nimbus Group Ab's earnings presentation, May 11, 2021
Slide 1: A Good First Quarter 2021
A GOOD FIRST QUARTER 2021 May 11, 2021
Slide 2: Today's presenters
Today’s presenters Jan‐Erik Lindström Rasmus Alvemyr CEO CFO 2 Q1 2021 Nimbus Group
Slide 3: Highlights of the first quarter 2021
Highlights of the first quarter 2021 • Sales increased by 31,5 % to SEK 218,5 m (166,1) • EBITA amounted to SEK 5,2 (‐21) • Order book continued to grow to SEK 854 m (+21% in the quarter) • Sales to a larger extent by own dealers (28 % vs 14%) • Still some capacity restrictions in supply • Price inc
Slide 4: Why invest in Nimbus – a reminder
Why invest in Nimbus – a reminder 1 Strong underlying market with several fundamental drivers 2 True house of brands with strong and distinctive brand portfolio Attractive position in value chain with opportunities to further improve dealership offering 3 and develop aftermarket services Asset light
Slide 5: This is Nimbus Group
This is Nimbus Group • Founded in 1968 • Long history of international trade • Well known Scandinavian brands • 2012 reconstructed by new owners R12 • 2018 acquired Alukin • 2019 acquired Bella Veneet • 2021, feb 09 listed on Nasdaq First North Nimbus C8 launched in Q1 5 Q1 2021 Nimbus Group
Slide 6: Today a true house of brands – for the dealers' sake
Today a true house of brands – for the dealers’ sake Model examples Share of new boat sales in 51% 15% 13% 9% 6% 5% 2% Group 2020 Serving a growing market Technical development Aging boat fleet Market growth Increased popularity of “Staycation” CAGR 7 % *) Overall wealth is increasing *) 2014‐19 est
Slide 7: Asset light production platform
Asset light production platform Production facilities Internal production Increase variable Production Footprint Outsourced production share of cost base efficiencies Cost variability based on days Hulls to be more standardised to reduce cost – three months to remove significant share of cost Crucia
Slide 8: Dealership network with room for improvement
Dealership network with room for improvement Huge opportunity to ride the North American wave.. Nordic markets Other markets 57 dealers in the Nordics Example white spots 25 dealers in the rest of Europe ..and steps are taken to grow the interesting aftermarket Oceania 8 Q1 2021 Nimbus Group
Slide 9: Our order book continued to grow
Our order book continued to grow SEKm • 1st quarter orderbook increased by 21 % from the 4:th quarter to SEK 854 million • Comeback in main markets in Europe • US market remaining strong, new dealers added • Order backlog is traditionally variating between seasons 854 • New model releases by Nimbus
Slide 10: Strong sales in the quarter
Strong sales in the quarter SEKm Sales by region • First quarter strong in many aspects • Europe coming back from a weak last year • Increased share of sales through own dealers 1 081 1 029 930 Share of sales through own /external dealers 475 379 219 166 2017 2018 2019 2020 Q1 21 Q1 2020 Q1 2021 LTM
Slide 11: Ebita on a steady increase
Ebita on a steady increase 85 •Ebita in Q1 amounted to SEK 5,2 million (‐21) 58 •On a 12 m basis amounts to SEK 85 m 43 •Ebita margin amounted to 2,3% in the quarter and 7,8% on 12m basis 23 SEKm 10 5 ‐21 2017 2018 2019 2020 Q1 21 Q1 20 Q1 21 LTM 11 Q1 2021 Nimbus Group
Slide 12: Working capital
Working capital NET WORKING CAPITAL SEKm • NWC / LTM sales in Q1 19,4% 361 328 299 281 266 239 205 210 169 166 Q4‐18 Q1‐19 Q2‐19 Q3‐19 Q4‐19 Q1‐20 Q2‐20 Q3‐20 Q4‐20 Q1‐21 12 Q1 2021 Nimbus Group
Slide 13: Financial targets
Financial targets Growth >10% EBITA margin 10% Capital structure No financial debt Dividend policy 30% 2021 Guidance Target to reach net sales of SEK 1,150‐1,225m in 2021, I e 12‐19% from 2020 13 Q1 2021 Nimbus Group
Slide 14: 2021 onwards – an exciting journey ahead
2021 onwards – an exciting journey ahead 5 Value accretive acquisitions and forward integration 4 Increase presence in North America 3 Improve aftermarket offering and presence 2 Expand and densify dealership network in Europe 1 Development of current offering and organisation Today Future 14 Q1 202
Slide 15: Ownership in Nimbus
Ownership in Nimbus 0430 # Ägare antal aktier Värde Kapital Röster 1 R12 Kapital Holdco AB 6392996 431527230 32,99% 32,99% 2 Håkan Roos (RoosGruppen) 1942307 131105723 10,02% 10,02% 3 Fort Cambridge Investments S.A. 1289928 87070140 6,66% 6,66% 4 ODIN Fonder 1200000 81000000 6,19% 6,19% 5 Handelsban
Slide 16: Q&A
Q&A Next report Q2 2021 on August, 24 Nimbus T9‐Twin Engine 16 Q1 2021 Nimbus Group