Slide 1: Q1 2025 Results Presentation
Q1 2025 Results Presentation Kristoffer Ljungfelt, CEO Henrik Skogsfors, CFO
Slide 2: Nobia Group, highlights Q1
Nobia Group, highlights Q1 • Important financial improvements in the quarter 2024 Q1 2025 Q1 − Strengthened Cash flow − Gross margin improvement for the 5th consecutive quarter Net sales (SEKm) 2,615 2,474 − Cost savings above expectations Organic growth (%) -20 -6 − Nordic profitability increase •
Slide 3: Kitchen market development, Nordic region
Kitchen market development, Nordic region Housing starts per quarter (thousands) Consumer market 20 • Consumer market recovering 18 • Slight recovery in housing transactions 16 • Government grants support home renovations 14 • Continued increase in footfall and kitchen design Sweden 12 meetings Norw
Slide 4: Kitchen market development, UK
Kitchen market development, UK Housing starts per quarter (thousands) Consumer market 80 • Consumer confidence remains low and on par with a 70 year ago • House price index up 60 • Residential house transactions rising 50 Project segment 40 • Housing starts remain well below long-term average 30 UK
Slide 5: Strategic updates
Strategic updates • New Group organisation; decentralisation and local accountability will enable further cost saving measures Maximising cost • Run rate cost improvements of prior launched programs exceeds SEK 550m efficiency and • SEK 200m run rate saving materializing from cost program launched i
Slide 6: Ramp-up of new Nordic factory
Ramp-up of new Nordic factory • Kitchen components, assembled and flat-pack cabinets being distributed from Jönköping to the Nordic supply chain • Industrialization of frontal manufacturing, kitchen assembly and order consolidation starting in April • Gradual ramp up of shipments of complete kitchen
Slide 7: Nordic region Q1
Nordic region Q1 Share of R12 sales by segment Share of R12 sales by country Finland • Organic net sales in line with prior year (-25% Q1-24) 7% Norway Project Retail • Consumer sales up, while project segment continues 47% 38% 19% Denmark to decline Sweden 51% 23% • Gross margin improvement driven
Slide 8: Region UK Q1
Region UK Q1 Share of R12 sales by segment Share of R12 sales by channel Other Project • Organic sales decreased -12% (-14%) 18% 15% DIY – Project market decline Project Retail 19% 16% 44% Stores • Adjusted for store closures, the sales decline was -3% 66% Trade • Gross margin improved; favourable m
Slide 9: Financial position
Financial position Cash flow 2024 Q1 2025 Q1 Cash flow from operating activities -258 28 • Cash flow improvement driven by working capital and Operating cash flow -574 -85 lower investments in fixed assets Of w. operating profit* -44 -6 • Investments in Jönköping factory SEK 100m (241) Of w. change
Slide 10: Priorities going forward
Priorities going forward • Advance on our strategic agenda - Ramp-up Jönköping factory - Turnaround of the UK operations - Deliver on our cost out programs • Leverage on our strong brands and new organisation - Capture growth in consumer sales - Increase average order values - Productivity enhancing
Slide 11: Nobia - Designing Kitchens for Life