Slide 1: Duell Corporation Financial Report September 2022-May 2023
Duell Corporation Financial Report September 2022-May 2023 July 6, 2023 Jarkko Ämmälä, CEO Pellervo Hämäläinen, IR
Slide 2: A leading Nordic and European powersports aftermarket distributor
A leading Nordic and European powersports aftermarket distributor 7.0% (7.0) Tampere 120 M€ (124) Duell’s established markets Net sales Adjusted EBITA Duell’s growth markets 9/2022–8/2023 9/2022–8/2023 Frölunda Key figures* • 150,000 SKUs • 500 brands Veghel, Deventer New Milton • 600 suppliers Sale
Slide 3: All powersports accessories from motorbikes to marine
All powersports accessories from motorbikes to marine Technical and spare parts 2/3 Personal equipment 1/3
Slide 4: Strong presence in all dealer channels
Strong presence in all dealer channels Sales split by customer type E-commerce Retailers Specialty shops % 25% of net 75% Repair and spare parts shops sales Powersports equipment manufacturers
Slide 5: Q3 Business Report
Q3 Business Report 5
Slide 6: Q3: Focus on cost structure and net working capital optimisation
Q3: Focus on cost structure and net working capital optimisation • Constant currency growth was 8.1% Net sales increased • Organic sales decreased 10.3% by 7.4 % • Adjusted EBITA margin increased to 10.1% (8.6%) Adjusted EBITA EUR 3.8 • Gross margin decreased from million, adjusted EBITA Q2 26.5% to
Slide 7: Summary of Q3 and 1-9 2023 financials
Summary of Q3 and 1-9 2023 financials Q3 2023 Q3 2022 1-9 2023 1-9 2022 Key figures and ratios FY 2022 (3/2023- 3/2022- (9/2022- (9/2021- (9/2021- Net sales Q3 EUR thousand 5/2023) 5/2022) 5/2023) 5/2022) 8/2022) Net sales 37,673 35,098 88,967 89,335 123,991 • Nordics Net sales growth, % 7.4 43.5 -0
Slide 8: Seasonality is typical in Duell's sales by quarters
Seasonality is typical in Duell's sales by quarters Qarterly adjusted EBITA, EUR million Qarterly net sales development, EUR million and adjusted EBITA, % margin 40 37,7 16 35,1 34,6 35 14 13,4 11,5 12 30 10,1 27,2 27,1 25,8 25,5 10 24,5 25 8,6 7,2 7,7 8,5 8 19,4 20 17,2 6 6,8 15,7 3,8 5,1 15 3,8 4
Slide 9: Uncertainty continued in the operating environment
Uncertainty continued in the operating environment External factors Focus during financial year 2023 • Market uncertainty will continue • Despite challenging market conditions Duell continue growth strategy supported by TranAm acquisition • High inflation will weaken consumer confidence in 2023 affe
Slide 10: Outlook for financial year 2023 (unchanged)
Outlook for financial year 2023 (unchanged) • Duell updated the outlook and guidance for financial year 2023 on 17 May 2023. • The market and business cycle continues to be weak and uncertain. The continuing inflation and the overall economic environment have decreased consumer confidence. These fac
Slide 11: Duell medium-term financial targets (unchanged)
Duell medium-term financial targets (unchanged) Target Description Latest audited report Net sales of Net sales “Net sales between €200-300m by the end of 2025, achieved Growth FY 2022 €200–300m through yearly growth organically and inorganically” €124m Adjusted EBITA margin Adjusted EBITA margin Pr
Slide 12: Strategic objectives and cornerstones
Strategic objectives and cornerstones Key strategic objectives Strategic cornerstones • To become the best partner for dealers • Geographical market expansion and brand owners throughout Europe • Partner for building online sales • Strengthen the leading market position • Brand portfolio development
Slide 13: 4O nue
4O nue YEARS HQ | Mustasaari, Finland T | +358 (0) 20 118 000 E | info@duell.eu | forename.surname@duell.eu W | www.duell.eu HQ | Duell Oyj | Kauppatie 19 | 65610 Mustasaari Offices & warehouses | Finland | Sweden | Norway | Denmark | Netherlands | Germany | France | United Kingdom