Nimbus Group Ab · OMXSTO:BOAT
Nimbus Group Ab — Q3 2021 Earnings Presentation
16 slides from Nimbus Group Ab's earnings presentation, 2021
Slide 1: Nimbus Group Q3 report 2021: Strong sales development
Nimbus Group Q3 report 2021 Strong sales development in Q3 2021 Flipper 900 DC 1
Slide 2: Today's presenters
Today’s presenters Jan-Erik Lindström Rasmus Alvemyr CEO CFO 2
Slide 3: Highlights of the third quarter 2021
Highlights of the third quarter 2021 • Sales increased by 111 % to 382 Mkr (181,4) • EBITA amounted to 41,9 Mkr (5,6) • EBITA margin up to 11,0 % (3,1 %) • Order book is now 960 Mkr (502) • New dealers contracted in the US and Asia • Several aftermarket initiatives has been launched • Capacity restr
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 3 dealership offering 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 new owners R12 with new BP • 2018 acquired Alukin • 2019 acquired Bella Veneet • 2021, 9th Feb listed on Nasdaq First North • 2021, 17th May acquisition of Marine Stores 5
Slide 6: Today a true house of brands boat builder – for the dealers' sake
Today a true house of brands boat builder – for the dealers’ sake Model examples Share of Group new boat sales 51% 15% 13% 9% 6% 5% 2% per 2020 Serving a growing market Technical development Aging boat fleet Increased popularity of “Staycation” Overall wealth is increasing 6
Slide 7: Asset light production platform
Asset light production platform Production facilities Internal production Scalable cost base Production Footprint Outsourced production setup efficiencies Cost variability based on days Hulls to be more standardised to reduce cost – three months to remove significant share of cost Low-variable • >3
Slide 8: Our order book record high for this time of the year
Our order book record high for this time of the year • 3rd quarter orderbook increased by 31 % from Q2 and 91 % from Q3 2020 • Since not all orders can be confirmed due to capacity restraints, there is a substantial amount of non-confirmed orders on top of the order book. • Pre-payments amounts to 1
Slide 9: Sales development per market YTD Q3 2021 vs YTD Q3 2020
Sales development per market YTD Q3 2021 vs YTD Q3 2020 SEKm +58% 698 • Strong growth on all markets • Overall growth of +51% 442 +35% +37% 277 +158% 205 179 131 103 40 Sweden Nordics Europe Other markets (North America) 9
Slide 10: Strong sales development
Strong sales development Other markets • Europe coming back from a weak year 12% (47 Mkr) • Demand from north America continue to grow • Sweden and Nordic still growing – with a larger part of own dealers • Sales contribution from Marine Store amounts to 76 Mkr in Q3 Europe • Third quarter strong in
Slide 11: EBITA on a steady increase
EBITA on a steady increase SEKm 180 12% 10,8% 160 9,6% 10% 140 7,8% 120 8% 100 5,7% 6% 80 4,7% 60 4% 40 2% 20 6 43 72 85 121 157 42 0 0% 2019 2020 Q1 21 Q2 21 Q3 21 Q3 20 Q3 21 12m 12m 12m EBITA EBITA margin 11
Slide 12: Working capital
Working capital • Strong development with low NWC in relation to previous periods • NWC / LTM sales in Q3 5,8% SEKm 361 328 299 281 266 239 210 169 166 85 -32 Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 12
Slide 13: Financial targets
Financial targets FINANCIAL TARGETS Q3 2021 Growth >10% 53% (YTD) EBITA margin 10% 10,8% (LTM) Capital No financial debt No financial debt structure Dividend policy 30% n.a. 13
Slide 14: We are delivering on our targets!
We are delivering on our targets! Illustrative 5 Value accretive acquisitions and forward 4 integration Increase presence in North America - Aquisition 3 of Marine Improve Store aftermarket offering and 2 presence - Densified Expand and dealer 1 densify network dealership - New articles network in a
Slide 15: Ownership in Nimbus 20211031
Ownership in Nimbus 20211031 15
Slide 16: Q&A – Next report: Q4 2021
Q&A Next report : Q4 2021 February, 22 2022 16