Desenio Group Ab · OMXSTO:DSNO
Desenio Group Ab — Q3 2023 Earnings Presentation
22 slides from Desenio Group Ab's earnings presentation, Oct 26, 2023
Slide 1: Q3 Result Presentation
Q3 RESULT PRESENTATION 26 October 2023
Slide 2: Agenda
AGENDA Q3 highlights Business update Financial update Q3 Summary Q&A 2
Slide 3: Q3 Highlights
Q3 HIGHLIGHTS Second quarter in a row with growth - capital structure still challenging • Continued growth despite challenging market conditions • Stable cash generation as a result of efficiency improvements • Evaluation of balance sheet to optimize capital structure • Desenio Group´s senior secure
Slide 4: Q3 Highlights
Q3 HIGHLIGHTS Improving sales development • Net sales increased by 7.5% to SEK 228.2 million • Number of visits rose by 7.7% • Average order value increased by 6.1% • Increasing net sales in the Nordics, core markets in Europe and North America • Nordics +11% • Core markets in Europe +20% • Rest of
Slide 5: Q3 Highlights
Q3 HIGHLIGHTS Continued focus on defending/strengthening market position and increasing efficiency • Marketing costs in relation to net sales amounted to 30.2%, compared to 24.8% in Q3, 2022 • Demanding market climate requires increasing marketing spend • Investment in marketing in North America - c
Slide 6: Q3 Highlights
Q3 HIGHLIGHTS Stable cash position • EBITA amounted to SEK 25.1 (28.1) million • EBITA margin decreased to 11.0% (13.3) • Cash flow from operating activities amounted to SEK 9.1 (40.5) million • Result before tax SEK 13.6 million lower in Q3, 2023 compared to Q3, 2022 • Non-cash flow-affecting recla
Slide 7: In Summary Q3 2023
IN SUMMARY Q3 2023 +7,5% 83,3% 11,0% 9,9MSEK 228,2 (40,5) (83,8%) (13,3%) MSEK NET SALES GROSS MARGIN EBITA OPERATIONAL CASH FLOW 7
Slide 8: EBITA margin bridge
Percentage points 16 14 12 10 13,3 EBITA margin 03 2022 12 -05 35 a - “55 Product margin EBITA margin bridge Fulfilment Marketing cost ‘Admin & other DESENIO GROUP Other operating 0,0 One-time 11,0 EBITA margin Q3 2023
Slide 9: Agenda
AGENDA Q3 highlights Business update Financial update Q3 Summary Q&A 9
Slide 10: Sales stronger than overall market search trends
2019-2 2019-7 Jan 2019 2019-12 2019-17 2019-22 2019-27 2019-32 2019-37 2019-42 2019-47 2019-52 2020-5 2020-10 Jan 2020 2020-15 2020-20 2020-25 2020-30 2020-35 2020-40 2020-45 2020-50 Graphs apply 5 week moving average trend 2021-2 2021-7 Jan 2021 2021-12 2021-17 2021-22 2021-27 2021-32 2021-37 2021-
Slide 11: Search share of voice increasing in both Germany and the UK
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 01-2019 03-2019 05-2019 07-2019 09-2019 11-2019 01-2020 03-2020 05-2020 07-2020 09-2020 Desenio Group 11-2020 01-2021 Juniqe 03-2021 05-2021 07-2021 Postery 09-2021 11-2021 01-2022 DE Brand Search Share of Voice 03-2022 Posterlounge 05-2022 07-2022 09-2022
Slide 12: Conversion rate consistent and traffic lower than last year
CONVERSION RATE CONSISTENT AND TRAFFIC LOWER THAN LAST YEAR Conversion rate for all Desenio Group sites Q3 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2019 2020 2021 2022 2023 *Sessions for all Desenio Group sites Q3 Jan Feb Mar Apr May Jun July Aug Sep Oct Nov Dec 2019 2020 2021 2022 2023 *Data
Slide 13: Q3 2023 Gross order intake
Q3 2023 GROSS ORDER INTAKE 250 DESENIO GROUP GROSS ORDER INTAKE* Q3 200 150 100 50 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2019 2020 2021 2022 2023 *Desenio + Poster Store Data source: FLOW 13
Slide 14: Q3 YoY growth per segment
Q3 YOY GROWTH PER SEGMENT NET SALES PER SEGMENT (SEKm) 20% 11% -23% +29% 14
Slide 15: Customer highlights
CUSTOMER HIGHLIGHTS ACTIVE CUSTOMERS* (thousands) VISITS (thousands) ORDERS (thousands) * Number of customers who have completed at least one order during the previous 24-month period. 15
Slide 16: Agenda
AGENDA Q3 highlights Business update Financial update Q3 Summary Q&A 16
Slide 17: Financial highlights
FINANCIAL HIGHLIGHTS NET SALES (SEK million) GROSS MARGIN EBITA (SEK million) 17
Slide 18: Cash flow highlights
CASH FLOW HIGHLIGHTS CAPEX (SEK million) NET WORKING CAPITAL (SEK million) OPERATIONAL CASH FLOW (SEK million) CAPEX is fixed assets and intangible assets. Lease assets excluded. 18
Slide 19: Operating cash flow break down
OPERATING CASH FLOW BREAK DOWN 19
Slide 20: Agenda
AGENDA Q3 highlights Business update Financial update Q3 Summary Q&A 20
Slide 21: Q3 2023 Summary
Q3 2023 SUMMARY • Second quarter of the year with good growth • Increased efficiency • Focus on growth initiatives in North America as well as in our other markets • Continued uncertainty about consumer behaviour in the coming quarters • Evaluation of balance sheet to optimize capital structure 21
Slide 22: Desenio Group
22 DESENIO GROUP