Bjorn Borg Ab · OMXSTO:BORG
Bjorn Borg Ab — Q1 2025 Earnings Presentation
26 slides from Bjorn Borg Ab's earnings presentation, May 15, 2025
Slide 1: Björn Borg – train to live
BJORN BORG @ train to live
Slide 2: Björn Borg AB Investor Presentation Q1 2025
BJÖRN BORG AB Investor Presentation Q1 2025 S T O C K H O L M , M A Y 1 6 TH, 2 0 2 5
Slide 3: Content
Content A. Executive Summary B. Where we want to go C. How far we got in Q1 2025 1. Brand heat 2. Top line 2. Bottom line 3. Balance sheet D. Key take-aways
Slide 4: A. Executive Summary
A. Executive Summary
Slide 5: "Overall, it was a record sales quarter"
"Overall, it was a record sales quarter, driven primarily by our strategic focus areas: shoes (+208 percent) and sportswear (+13 percent)." " Henrik Bunge, CEO BJÖRN BORG AB
Slide 6: Björn Borg Q1 2025 – Executive summary
Björn Borg Q1 2025 – Executive summary • Overall Net sales in Q1 2025 increased by +9% to SEK 280 m. • By channel, the largest channel Wholesale increased by +11% while at the same time own e-com continued to grow with a strong +26%. Own Retail Stores experienced a decline of –12% which was mainly d
Slide 7: B. Where we want to go
| | j 5 y iti B. Where we want to go P \ a oO: x z o oO Bu a @
Slide 8: Our mission, our business strategy and our long-term financial objectives are clearly set
Our mission, our business strategy and our long-term financial objectives are clearly set. BJÖRN BORG AB – WHERE WE WANT TO GO OUR MISSION OUR LONG-TERM OUR BUSINESS FINANCIAL STRATEGY OBJECTIVES • Annual sales growth of min We inspire people to be more, 10% • Increase share of on-line and through o
Slide 9: C. How far we got in Q1 2025
C. How far we got in Q1 2025
Slide 10: C1. Brand heat
C1. Brand heat
Slide 11: Our brand journey continues in the right direction with strong brand heat signs
Our brand journey continues in the right direction with strong brand heat signs – especially in our growth market Germany BJÖRN BORG AB – SPORTS BRAND KPIS Q1 2025 HIGHLIGHTS PURCHASE INTENTION CONSIDERATION UNAIDED AWARENESS HIM HIM HER +61% in DE +28% in DE +78% in SE 33.7% 28.6% 6.4% 20.9% in Q1
Slide 12: A flat or slower trend seen in Q1
A flat or slower trend seen in Q1 – First quarter usually shows weaker brand figures compared to the rest of the year BJÖRN BORG AB – BRAND HEAT KPIS 2018-2025 ALL COUNTRIES UNDERWEAR HIM APPAREL 49% 50% 50% 46% 47% 44% 44% 39% 40% 40% Purchase intent 32% 33% 33% 30% 29% 30% 28% 30% 30% 25% Purchase
Slide 13: C2. Top line
C2. Top line
Slide 14: The growth continues in the first quarter of 2025
The growth continues in the first quarter of 2025, delivering a clear first quarter sales record. BJÖRN BORG AB – NET SALES DEVELOPMENT BY QUARTER [SEK M] 990 872 835 235 768 +19% 705 0% 198 +10% 198 +13% 181 Q4 160 285 +9% +5% 262 249 +7% 240 +4% Q3 225 +29% 213 162 +3% 166 Q2 148 +10% 163 -1% 247
Slide 15: Strong momentum overall, especially in the largest markets
Strong momentum overall, especially in the largest markets; Sweden and Netherlands. BJÖRN BORG AB - TOTAL SALES DEVELOPMENT Q1 2025 BY COUNTRY Own subsidiaries +11% SWEDEN +22% NETHERLANDS -21% GERMANY +2% FINLAND +38% BELGIUM +22% DENMARK . Distributors +27% NORWAY +25% UK -57% OTHER Source: BB AB
Slide 16: Own e-commerce with very strong growth
Own e-commerce with very strong growth. Wholesale still holding up well while distributors decline. BJÖRN BORG AB – CHANNEL DEVELOPMENT Q1 2025 WHOLESALE OWN E-COM OWN RETAIL DISTRIBUTORS +11% +26% -12% -21% VS Q1 2024 VS Q1 2024 VS Q1 2024 VS Q1 2024 • Wholesale e-tailers with • Own e-commerce keep
Slide 17: Online increase mainly coming from own e-commerce
Online increase mainly coming from own e-commerce, while external e-tailers had a weaker first quarter vs previous years. BJÖRN BORG AB – ONLINE SALES 2021-2025 [SEK M] 160,0 47% 50% 45% 140,0 42% 42% 41% Share online 38% 40% 120,0 113,6 107,4 4,9 35% 95,3 93,4 6,2 100,0 86,8 1,6 30% 2,4 Marketplace
Slide 18: Really strong performance in the footwear and sports apparel categories
Really strong performance in the footwear and sports apparel categories, while underwear suffer from timing in deliveries. BJÖRN BORG AB – CATEGORY DEVELOPMENT Q1 2025 Underwear Apparel Swim Footwear -12% +13% +25% +208%
Slide 19: C3. Bottom line
C3. Bottom line BJORN BORG @
Slide 20: Gross margin declines vs last year related to the footwear integration
Gross margin declines vs last year related to the footwear integration. Operating income show steady increase. BJÖRN BORG AB – BOTTOM LINE KPIS Q1 2025 GROSS MARGIN [% NS] EBIT [m SEK] NET INCOME [m SEK] 76 101 102 73 70% Currency neutral 2025: 51% 15 Q4 Q4 10 17 20 60% 52% 53% 50% 50% 73 51 50% 8 Q
Slide 21: C4. Balance sheet
C4. Balance sheet BJORN BORG @
Slide 22: All balance sheet KPIs on good levels
All balance sheet KPIs on good levels. Net debt increasing vs last year due to Footwear integration. BJÖRN BORG AB – BALANCE SHEET KPIS AS PER Q1 2025 Equity [% of assets] Net debt [SEK m] WC 12 months rolling 140 [% of GS] 60% 56% 57% 55% 121 25% 52% 120 21% 48% 20%19% 20%20% 50% 99 20% 100 89 40%
Slide 23: D. Key take-aways
D. Key take-aways BJORN BORG @
Slide 24: Another quarter with record
Another quarter with record B J Ö R N B O R G A B – K E Y TA K E - A W AY S Q 1 2 0 2 5 1 The Björn Borg brand is 2 Record sales driven by 3 The footwear integration gaining momentum in solid wholesale momentum is progressing according Germany, one of our key and very good growth in to plan, with a
Slide 25: Björn Borg is on a solid basis to show continued profitable growth
Björn Borg is on a solid basis to show continued profitable growth B J Ö R N B O R G A B – R AT I O N A L E S T O I N V E S T 1. Steady profitable growth since 2014. 2. Strategy for continued profitable growth in the years to come. 3. Stable and high dividend payments. 4. Safe equity ratio and net d
Slide 26: Thank you!
Thank you!