Bergman & Beving Ab Class B · OMXSTO:BERG_B
Bergman & Beving Ab Class B — Q2 2023/2024 Earnings Presentation
16 slides from Bergman & Beving Ab Class B's earnings presentation, Oct 19, 2023
Slide 1: Interim Report 1 April – 30 September 2023
Interim Report 1 April – 30 September 2023 19 October 2023 Magnus Söderlind – CEO Peter Schön - CFO 1
Slide 2: Highlights Second Quarter 2023/2024
HIGHLIGHTS Second Quarter 2023/2024 ❖ Revenue increased 2% to MSEK 1,094 (1,073) ❖ The gross margin continues to strengthen to 48.5% (45.9%) ❖ Efficiency measures produce results ❖ EBITA increased by 27% to MSEK 107 (84) ❖ The EBITA margin improved to 9.8% (7.8) ❖ EBT increased to MSEK 64 (61) ❖ Acq
Slide 3: Acquisitions
ACQUISITIONS 1 April – 30 September 2023 Tema Norge Annual Revenue EBITA Division MSEK % Elkington Tema Norge TC 45 >15 Q1 Elkington BM 40 >15 Itaab Itaab BM 75 >15 Q2 Sandbergs TC 60 >15 Sandbergs Total 220 3
Slide 4: Continued Positive EBITA Trend
CONTINUED POSITIVE EBITA TREND EBITA per quarter MSEK % 120 12 EBITA EBITA % 107 103 104 105 100 94 10 88 91 81 84 84 ❖ EBITA increased, adjusted for last year’s 78 80 73 8 IT attack, with 14 percent to MSEK 107 (94) 66 68 64 60 6 ❖ EBITA margin improved to 9.8% (7.8) 40 4 ❖ Improved Gross Margin 20
Slide 5: Revenue Development Reflects a Focus on High Margin Business
REVENUE DEVELOPMENT REFLECTS A FOCUS ON HIGH MARGIN BUSINESS Revenue per quarter Quarterly Revenue Growth, % MSEK 1,300 Revenue R12 1,200 1,100 1,000 900 800 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Organic Currency Acquisitions Actual 20/21 21/22 22/23 23/24 5
Slide 6: Improved Gross Margin
IMPROVED GROSS MARGIN Gross margin per quarter Revenue per type of brand Rolling 12 months MSEK Own Proprietary Brands Other Brands 50 GM R12 48 34% 32% 30% 30% 46 44 42 40 38 66% 68% 70% 70% 36 34 32 30 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 31 Mar 31 Mar 31 Mar 30 Sep 20/21 21/22 22/23 23/24 20
Slide 7: Earnings per Share
EARNINGS PER SHARE SEK 2.50 EPS R12 2.00 1.50 1.00 0.50 0.00 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 20/21 21/22 22/23 23/24 7
Slide 8: Inventory
INVENTORY MSEK ITO ❖ Inventory amounted to MSEK 1,268 (1491) 1,600 3.0 Inventory R12 ITO ❖ Decreased safety stock 1,500 ❖ Decreased High volume - Low margin 1,400 business 1,300 2.0 ❖ Improving product mix and streamlining 1,200 assortment in all companies 1,100 1,000 1.0 900 800 700 0.0 Q1 Q2 Q3 Q4
Slide 9: Cash Flow from Operating Activities
CASH FLOW FROM OPERATING ACTIVITIES MSEK 200 ❖ Cash flow from operating activities Cashflow R12 amounted to MSEK 176 (50) 150 ❖ Improved profitability ❖ Improvement in inventory levels 100 ❖ Low A/P due to low purchases ❖ Will increase when the companies starts to buy on normal levels 50 0 -50 Q1 Q2
Slide 10: Net Debt
NET DEBT MSEK ND/EBITDA ❖ Operational net debt amounted to 3.0 Operational Net Debt ND incl Leasing / EBITDA MSEK 1,119 (1,091) 1,200 ❖ Strong underlying cash flow 2.5 1,000 ❖ Acquisitions of MSEK 81 i Q2 and MSEK 179 in the Period 2.0 800 ❖ Strong Acquisition pipeline ❖ Acquisitions will continue e
Slide 11: Building Materials
Building Materials All-time-high result and double-digit margins ❖ Revenue increased 12 percent to MSEK 346 (310) ❖ EBITA increased with 42 percent to MSEK 37 (26) ❖ EBITA margin improved to 10.7 percent (8.4) ❖ All units improved results compared to same quarter last year ❖ Improved efficiency and
Slide 12: Workplace Safety
Workplace Safety High depencency on Nordic resellers ❖ Revenue MSEK 354 (378) ❖ EBITA amounted to MSEK 19 (35) ❖ EBITA margin was 5.4 percent (9.3) ❖ Retailers' ongoing inventory reductions ❖ Retailer wait to order seasonal goods ❖ Additional cost-saving measures were implemented MSEK Revenue R12 MS
Slide 13: Tools & Consumables
Tools & Consumables All-time-high result and double-digit margins ❖ Revenue increased to MSEK 402 (395) ❖ EBITA increased by 108 percent to MSEK 50 (24) ❖ EBITA margin improved to 12.4 percent (6.1) ❖ Improvement in Luna largest impact MSEK Revenue R12 MSEK EBITA % R12 EBITA R12 1,900 10 180 160 8 1
Slide 14: Good Potential to Continue to Improve Earnings
GOOD POTENTIAL TO CONTINUE TO IMPROVE EARNINGS The ambition of MSEK 500 in operating profit by the 2025/2026 financial year at the latest remains firm WHAT WE ALWAYS DO ❖ Prioritizing profit expansion over revenue expansion ❖ Concrete short- and long-term goals and activities that ensure that compan
Slide 15: Contact Calendar
Contact Calendar Investor Relations 9 February 2024 Peter Schön Q3 2023 will be published +46 70 339 89 99 ir@bb.se 15
Slide 16: Bergman Beving
BERGMAN BEVING
Bergman & Beving — Q2 2023/2024 Earnings Presentation on 6ix