Nobia Ab · OMXSTO:NOBI
Nobia Ab — Q1 2024 Earnings Presentation
10 slides from Nobia Ab's earnings presentation, May 14, 2024
Slide 1: Q1 2024 Results Presentation
Q1 2024 Results Presentation Kristoffer Ljungfelt, CEO Henrik Skogsfors, CFO
Slide 2: Nobia Group, highlights Q1
Nobia Group, highlights Q1 • Organic sales decline driven by the project segment 2023 Q1 2024 Q1 • Continued gross margin improvement driven mainly by Net sales (SEKm) 3,241 2,615 higher average order values • Cost reduction program yielding good results Organic growth (%) -6 -20 • Lower EBIT as cos
Slide 3: Asset divestments, rights issue and debt refinancing
Asset divestments, rights issue and debt refinancing SEK ~1.4bn net debt reduction in Q1 2024: • Sale and leaseback transaction of Jönköping factory property • Divestments of non-core assets, ewe in Austria and Bribus in the Netherlands SEK ~1.26bn rights issue completed in April 2024 Extended and a
Slide 4: Strategic priorities
Strategic priorities • Annualized fixed overhead cost reductions reached SEK 350m as of Q1 2024 Maximising cost • Divestment of non-core assets efficiency and • Sale and lease back of the Jönköping factory reduction of net debt • Share rights issue • Considerably strengthen Nordic supply chain - Jön
Slide 5: Kitchen market development
Kitchen market development Nordic region Housing starts per quarter (thousands) Consumer segment; consumer confidence trending up, from 20 80 low levels. Full-year market development estimated to be flat vs 18 prior year. 70 Project segment; housing new build starts on very low levels in 16 60 all f
Slide 6: Nordic region Q1
Nordic region Q1 Share of R12 sales by segment Share of R12 sales by country Finland • Organic net sales declined -25% (-7), impacted primarily by 11% Retail a large decline in the project segment 33% Norway Denmark Project 20% 46% • Continued gross margin improvement, driven by price 53% Sweden Tra
Slide 7: UK region Q1
UK region Q1 Share of R12 sales by segment Share of R12 sales by channel Other Project • Organic net sales decline of -14% (-6) 20% Retail 17% 32% DIY Stores • Gross margin remains on high level Project 20% 63% 17% Trade • Operating loss on same level, despite the tough market 31% and sales decline
Slide 8: Financial position
Financial position Cash flow 2023 Q1 2024 Q1 Cash flow from operating activities 335 -258 • Cash flow is normally low in the first quarter due to Operating cash flow -38 -574 seasonality Of w. operating profit* -246 -44 • Investments in Jönköping factory SEK 241m (261) Of w. change in working capita
Slide 9: Priorities going forward
Priorities going forward • Capitalize on the somewhat improving retail market • Investigate further opportunities for cost out measures to compensate for weak project market • Focus on completing our strategic initiatives - Get the Jönköping factory operational - Complete harmonization of the Nordic
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