Svedbergs Group Ab Class B · OMXSTO:SVED_B
Svedbergs Group Ab Class B — Svedbergs i Dalstorp — Q1 2025 Earnings Presentation
23 slides from Svedbergs Group Ab Class B's earnings presentation, Apr 29, 2025
Slide 1: Svedbergs Group Q1 2025
GROUP Q1 2025
Slide 2: Our vision
2 Our vision Our goal is to be recognised as Europe’s leading collection of innovative brands that design, manufacture and market sustainable products and services for the bathroom.
Slide 3: Our development
3 O ur developm ent From a w ell-established m arket leader in To a w ell-established m arket leader in bathroom bathroom products in Sw eden furniture in the N ordics and N orthern Europe 1920 1962 1997 2016 2020 2021 2023 Today Founded Launch ofthe first Listing on N asdaq A cquisition of A cquisi
Slide 4: Our business model: Cooperation without confusion
4 Our business model: Cooperation without confusion Central organisation Cooperation Brand segments Joint management and Synergies Centrally governed Local responsibility Opportunities • Strategy and business development • Purchasing cooperation • Branding and Marketing • Accounting & finance • Lead
Slide 5: Highlights Q1
5 Highlights Q1 • The first quarter showed strong performance • Good performance in majority of the segments with increased sales, gross margin and EBITA • Strong development in Macro Design • Sales in the Swedish and Finnish markets appear to have reached a low point, providing a stable foundation
Slide 6: Net Sales per segment/geography Q1 2025
6 Net Sales per segment/geography Q1 2025 • Strong sales in Macro Design SE, Cassoe DK, Roper Rhodes, UK and Thebalux, NL • Roper Rhodes and Thebalux have changed the market mix, Q1 30% in the Nordics • Svedbergs segment seems to be stabilized • Thebalux stands for 19%
Slide 7: Svedbergs (Dalstorp, Västra Götaland, Sweden)
Svedbergs (Dalstorp, Västra Götaland, Sweden) • Turnover 2024: MSEK 393 • FTE (SE, FI, NO, DK) 142 • Geography: Nordic Q1-25 Q1-24 Idx FY 24 FY 23 Idx Ext sales 108 113 95 393 480 82 EBITA 8 8 91 17 59 29 EBITA% 7,0 7,3 96 4,3 12,2 35 “A room to live and enjoy”
Slide 8: Macro Design (Laholm, Halland, Sweden)
Macro Design (Laholm, Halland, Sweden) • Turnover 2024: MSEK 165 • FTE (SE, NO) 45 • Geography: Sweden and Norway Q1-25 Q1-24 Idx FY 24 FY 23 Idx Ext sales 44 42 105 165 163 101 EBITA 6 4 152 16 12 133 EBITA% 14,0 9,7 145 9,8 7,4 132 “Attractive design, functionality and quality at a lower price fou
Slide 9: Cassøe (Herning, Jylland, Denmark)
Cassøe (Herning, Jylland, Danmark) • Turnover 2024: MSEK 86 • FTE (DK) 16 • Geography: Denmark and Norway Q1-25 Q1-24 Idx FY 24 FY 23 Idx Ext sales 23 23 102 86 88 98 EBITA 5 4 105 17 18 93 EBITA% 20,1 19,6 103 19,1 20,2 95 ”Cassøe markets and distributes designed quality products with the customer
Slide 10: Roper Rhodes (Bath, UK)
Roper Rhodes (Bath, UK) • Turnover 2024: MSEK 1 138 • FTE (UK, IRE) 232 • Geography: UK and Ireland Q1-25 Q1-24 Idx FY 24 FY 23 Idx Ext sales 306 289 106 1 138 1 062 107 EBITA 55 49 112 214 179 119 EBITA% 18,0 17,0 106 18,8 16,8 111 “UK's bathroom brand of choice, by providing excellent and sustaina
Slide 11: Thebalux (Zutphen/Veghel, the Netherlands)
Thebalux (Zutphen/Veghel, the Netherlands) • Turnover 2024: MSEK 401 • FTE (NL) 92 • Geography: NL, DE, BE Q1-25 Q1-24 Idx FY 24 FY 23 Idx Ext sales 115 105 110 401 30 1 347 EBITA 30 26 116 89 1 8 978 EBITA% 26,1 24,8 105 22,3 3,3 667
Slide 12: Sustainability highlights Q1
12 Important events during the quarter: Sustainability • Our climate Net Zero targets have been officially approved by the highlights Q1 Science Based Targets initiative (SBTi). This approval underscores the Group's firm commitment to reducing greenhouse gas (GHG) emissions in line with the latest c
Slide 13: Q1 in numbers
SVEDBERGS GROUP Q1 in numbers
Slide 14: Net Sales development Q1 2025
14 Net Sales development Q1 2025 • Net sales for the quarter amounted to SEK 596 million (572), corresponding to an increase of 4 percent compared 4% to the previous year 596 5 • Organic growth 3,5 percent 20 • Currency positive impact on sales by 572 0,8 percent Q1 2024 Organic FX Q1 2025
Slide 15: Net Sales Development Q1 2025
15 Net Sales Development Q1 2025 • Net Sales ~4 percent higher vs PY • Organic growth positive with 3,5 percent • Good performance in almost all segments
Slide 16: Profit & Margins Q1 2025
16 Profit & Margins Q1 2025 • Strong Gross Margin and EBITA in Q1, good performance in all segments • Cost reductions and efficiency achieved • High focus on cost control
Slide 17: Cash flow and Financial position Q1 2025
17 Cash flow and Financial position Q1 2025 • Free Cash Flow in Q1 positive outcome vs previous year mainly assigned to operating activities • Investments assigned to production equipment, product development and IT 2025 2024 2023 • Increased equity ratio 51% (49) Q1 Q1 Q1 Net Debt, Mkr 629 855 654
Slide 18: Net debt and leverage Q1 2025
18 Net debt and leverage Q1 2025 • Net debt 629 MSEK (855) • Net debt IFRS16 impact MSEK 82 (80) • Net Debt/EBITDA at 1.6 (2.7) incl Earn Out Thebalux, MSEK 23 (196) • Net Det ratio excluding IFRS16 1.4 (2.5)
Slide 19: Development Net debt and leverage
19 Development Net debt and leverage • Net debt and leverage sustainable trend • Net Debt ratio 1.6 (2.7) • Net Det ratio excluding Earn Out 1.4 (2.1)
Slide 20: Outlook and summary
20 Outlook and summary •Solid organic growth of 3.5% •EBITA of SEK 94 million, representing a margin of 15.7% – the highest quarterly margin since 2016 when the new business mocel was implemented •Strong performance across the portfolio – Several branded companies, notably Roper Rhodes, Thebalux, an
Slide 21: Questions
21 Questions • We will now answer questions live and previously sent to ir@svedbergsgroup.com • To participate, please follow the link in the press release from 16 April, which you find on www.svedberggroup.se under Press.
Slide 22: Thank you!
22 Thank you! Per-Arne Andersson, CEO Ann-Sofie Davidsson, CFO
Slide 23: Q&A
Q&A Per-Arne Andersson CEO Ann-Sofie Davidsson CFO