Slide 1: Duell Corporation Business report Q1 2022
Duell Corporation Business report September – November 2021 (Q1 2022) 1
Slide 2: Q1 2022 Business update
Q1 2022 Business update Du
Slide 3: Strong net sales and adjusted EBITA growth in Q1 2022
Strong net sales and adjusted EBITA growth in Q1 2022 • 9 new brands • Successful launch of a new own brand Net sales grew by 73% “Amoq” in the snowmobile category • Growth in all markets and product lines • Integration of the acquisitions in France and in the Netherlands proceeding well Adjusted EB
Slide 4: Strong organic growth in Q1 2022
Strong organic growth in Q1 2022 Key figures and ratios Q1 2022 Q1 2021 FY 2021 EUR thousand (9-11/2021) (9-11/2020) (9/20-8/21) • Listing fees and expenses Net sales 27,154 15,697 76,756 amounted to EUR 2 Net sales growth, % 73.0% 4.6% 29.1% million Organic net sales growth, % 32.2% -1.7% 24.1% EBI
Slide 5: Q1 is typically the lowest sales quarter including large amount of seasonal pre-sales
Q1 is typically the lowest sales quarter including large amount of seasonal pre-sales • Q1 pre-sales related to Quarterly net sales development, EUR million winter season, especially snowmobile and ATV 27.2 categories 24.8 • Q1 2022 includes 19.0 the impact from 17.3 15.7 the acquisitions • Q3 the s
Slide 6: Duell outlook 2022 and mid-term financial targets
Duell outlook 2022 and mid-term financial targets The uncertainty caused by COVID-19 continues in the market and reduces predictability. In practice, the situation causes continuous challenges to Duell supply chain. Duell has been successful in mitigating the situation. However, the mitigation actio
Slide 7: Duell Corporation Investment case
Duell Corporation Investment case 7
Slide 8: A leading Nordic powersports aftermarket distributor
A leading Nordic powersports aftermarket distributor +17% DUELLI’S NET SALES GROWTH (CAGR) ACTIVE 9/2019–8/2021 MARKETS 9.5% 102 M€ OPERATING PROFIT MARGIN PRO FORMA NET SALES 9/2020–8/2021 9/2020–8/2021 SALES OFFICE • Around 150,000 SKUs WAREHOUSE • Over 290 brands • Around 7,500 active dealers • A
Slide 9: Six product categories for all four seasons
Six product categories for all four seasons Onroad MC Offroad MC ATV Marine Snowmobile Bicycle TECHNICAL AND SPARE PARTS 63% 1) PERSONAL EQUIPMENT 37% 1) Break/clutch handling Tires Shock absorbers Helmets Motorcycle boots Protective wear Engines Engine parts Chains Life jackets Goggles Bike GPS tra
Slide 10: Double-digit organic growth complemented by M&A
Double-digit organic growth complemented by M&A Product range growth and expansion in Nordics European expansion and Baltics 1021) €m 25 77 59 56 47 40 43 34 77 28 23 24 08/12A 08/13A 08/14A 08/15A 08/16A 08/17A 08/18A 08/19A 08/20A 08/21A 08/21PF Avg. net sales growth (CAGR) Duell net sales Tecno G
Slide 11: Duell's addressable market is large, growing and resilient
Duell’s addressable market1) is large, growing and resilient Addressable market size1) EUR bn Growing rider ~2% expected growth base Over 16 million bikers in 6.8 Europe1) 5.7 6.1 5.0 Growing average spend In 2019, average spend Forecast Forecast EUR 366 for onroad bikers and Rest of Europe Nordics
Slide 12: Leading Nordic player
Leading Nordic player Nordic market sizes (€m) and Duell’s market shares (%), 20201) ~160 ~220 ~100 OEM direct aftermarket sales, other players No 1 18% No 1 11% No 2 6% 1) At the end of August 2021. Powersport distributor market sizes calculated as Duell’s sales / 12 indicative market share. Nordic
Slide 13: Strong presence in all dealer channels
Strong presence in all dealer channels Sales split by customer type (FY 08/21) E-commerce Retailers Specialty shops % 26% of net 74% Repair and spare parts shops sales Powersports equipment manufacturers 1) Does not include Tecno Globe clients 13
Slide 14: Large distributors are growing and taking market share
Large distributors are growing and taking market share Consolidation and scale benefits will increase the role of large players Fragmented market with few dominating players Market development (EURbn, %)1) Selected players ~6.1 ~6.8 and other large 10-15% distributors2) 15-20% 25-40% Small distribut
Slide 15: Own brands support profitable growth
Own brands support profitable growth Own brand share of sales is expected to increase Examples of strategically important own brands Own brand share of sales (excl. Tecno Globe) +25% 21% 19% 17% 08/19 08/20 08/21 Mid-term target 15 15
Slide 16: Two important acquisitions to drive market expansion
Two important acquisitions to drive market expansion Deal highlights (June 2021) 1) Deal highlights (August 2021) 1) • a market position in Benelux and Germany Strong • a Strong market position in France • a Access to 800+ dealers • a Access to 3,000+ dealers Opportunity to strengthen Duell’s operat
Slide 17: Strategic objectives and cornerstones
Strategic objectives and cornerstones Key strategic objectives Strategic cornerstones • To become the best partner • Geographical market for dealers and brand expansion owners throughout Europe • Partner for building online • Strengthen the leading sales market position in the • Brand portfolio deve
Slide 18: HQ | Mustasaari, Finland
Du HQ | Mustasaari, Finland T | #358 (0) 20 118 000 E | info@duell.eu | forename.surname@duell.eu W | www.duell.eu Duell Bike-Center Oy | Kauppatie 19 | 65610 Mustasaari | Finland SDBC Motor AB | BredkArrsgatan 10 | 57392 Tranas | Sweden SDBC Motor AB Denmark | c/o Regnskabskontoret Love ApS, Hasle