Svedbergs Group Ab Class B · OMXSTO:SVED_B
Svedbergs Group Ab Class B — Svedbergs i Dalstorp — Q4 2024 Earnings Presentation
26 slides from Svedbergs Group Ab Class B's earnings presentation, Feb 11, 2025
Slide 1: Svedbergs Group Q4 2024
SVEDBERGS GROUP Q4 2024
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: Svedbergs Group at a glance
3 Svedbergs Group at a glance Turnover (MSEK) Founded 1920 2100 Brand segments 5 1800 Turnover SEK 2 184 million 1500 CAGR 22% EBITA SEK 312 million 1200 EBITA-margin 14,3% 900 600 300 0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Slide 4: Our brand companies
4 Our brand companies 18%* 8%* 4%* 52%* 18%* *Share of total sales 2024
Slide 5: Business model: Cooperation without confusion
5 Business model: Cooperation without confusion 1 Business centric set-up Value creation for all parties • Customers • Brand segment • Share holders
Slide 6: Highlights Q4
6 Highlights Q4 • Strong fourth quarter 2024 • Good performance in UK and NL, Roper Rhodes increased sales, gross margin and EBITA • Sales in the Swedish and Finnish markets have bottomed out on a low level • Good performance in Macro Design • Improved gross margin due to Acquisition of Thebalux and
Slide 7: Net Sales per segment/geography Q4 2024
7 Net Sales per segment/geography Q4 2024 • Strong sales in Roper Rhodes, UK and Thebalux, NL Macro Design SE • The acquisition of Roper Rhodes and Thebalux have changed the market mix, Q4 31% in the Nordics • Soft demand in the Svedbergs segment • Thebalux stands for 18%
Slide 8: Net Sales per segment/geography YTD 2024
8 Net Sales per segment/geography YTD 2024 • Strong sales in Roper Rhodes and UK • The acquisition of Roper Rhodes and Thebalux have changed the market mix, YTD 2024 29% in the Nordics • Soft demand in the Svedbergs segment • Thebalux stands for 18%
Slide 9: Svedbergs (Dalstorp, Sweden)
Svedbergs (Dalstorp, Västra Götaland, Sweden) • Turnover 2024: MSEK 393 • FTE (SE, FI, NO, DK) 142 • Geography: Nordic Q4-24 Q4-23 Idx YTD 24 YTD 23 Idx Ext sales 102 113 90 393 480 82 EBITA 6 8 73 17 59 29 EBITA% 5,8 7,1 82 4,3 12,2 35 “A room to live and enjoy”
Slide 10: Macro Design (Laholm, Sweden)
Macro Design (Laholm, Halland, Sweden) • Turnover 2024: MSEK 165 • FTE (SE, NO) 45 • Geography: Sweden and Norway Q4-24 Q4-23 Idx YTD 24 YTD 23 Idx Ext sales 45 44 101 165 163 101 EBITA 5 4 132 16 12 133 EBITA% 11,6 8,9 130 9,8 7,4 132 “Attractive design, functionality and quality at a lower price f
Slide 11: Cassøe (Herning, Denmark)
Cassøe (Herning, Jylland, Danmark) • Turnover 2024: MSEK 86 • FTE (DK) 16 • Geography: Denmark and Norway Q4-24 Q4-23 Idx YTD 24 YTD 23 Idx Ext sales 21 23 90 86 88 98 EBITA 4 5 80 17 18 93 EBITA% 18,1 20,4 89 19,1 20,2 95 ”Cassøe markets and distributes designed quality products with the customer i
Slide 12: Roper Rhodes (Bath, UK)
Roper Rhodes (Bath, UK) • Turnover 2024: MSEK 1 138 • FTE (UK, IRE) 232 • Geography: UK and Ireland Q4-24 Q4-23 Idx YTD 24 YTD 23 Idx Ext sales 275 250 110 1 138 1 062 107 EBITA 60 52 115 214 179 119 EBITA% 21,9 20,9 105 18,8 16,8 111 “UK's bathroom brand of choice, by providing excellent and sustai
Slide 13: Thebalux (Zutphen/Veghel, the Netherlands)
Thebalux (Zutphen/Veghel, the Netherlands) • Turnover 2024: MSEK 401 • FTE (NL) 92 • Geography: NL, DE, BE Q4-24 Q4-23 Idx YTD 24 YTD 23 Idx Ext sales 95 30 321 401 30 1 347 EBITA 17 1 1 727 89 1 8 978 EBITA% 18,0 3,3 539 22,3 3,3 667
Slide 14: Sustainability highlights Q4
14 Sustainability highlights Q4 Important events during the quarter: • Signed commitment letter for Science based target initiative (SBTi) The technical review of Svedbergs Group AB's target submission has been approved by SBTi Services. This is a positive first step towards validating our targets.
Slide 15: Q4 in numbers
Q4in numbers — es
Slide 16: Net Sales development Q4 2024
16 Net Sales development Q4 2024 • Net sales for the quarter amounted to SEK 537 million (460), corresponding to an increase of 17 percent compared to the previous year 17% 537 • Organic growth 0,2 percent 66 • The acquisition of Thebalux had a positive impact of 14,3 percent 460 10 1 • Currency pos
Slide 17: Net Sales development YTD 2024
17 Net Sales development YTD 2024 • Net sales 2024 amounted to SEK 2 184 million (1 824), corresponding to an increase of 20 percent compared to the previous year 20% 2’184 • Organic growth -1,8 percent 371 • The acquisition of Thebalux had a positive impact of 20,3 percent 1’824 -33 22 • Currency p
Slide 18: Net Sales Development Q4 2024
18 Net Sales Development Q4 2024 • Net Sales ~17 percent higher vs PY • Organic growth positive with 0,2 percent • Positive impact by the acquisition of Thebalux • Good performance in Roper Rhodes
Slide 19: Profit & Margins Q4/YTD 2024
19 Profit & Margins Q4/YTD 2024 • Strong Gross Margin and EBITA in Q4, mainly due to good performance in Roper Rhodes and acquisition of Thebalux • Cost reductions for some segments achieved • High focus on cost control
Slide 20: Cash flow and Financial position Q4/YTD 2024
20 Cash flow and Financial position Q4/YTD 2024 • Free Cash Flow in Q4 positive outcome vs previous year mainly assigned to operating activities before change of working capital • Free Cash Flow YTD lower vs PY, mainly impacted by payments of customer bonuses and taxes/VAT in H1 2024 2023 2022 YTD Y
Slide 21: Net debt and leverage YTD 2024
21 Net debt and leverage YTD 2024 • Net debt 740 MSEK (1 102) • Net debt IFRS16 impact MSEK 89 (82) • Net Debt/EBITDA at 2.0 (3.8) incl Earn Out Roper Rhodes and Thebalux, MSEK 221 (184) • Net Det ratio excluding IFRS16 1.7 (3.5)
Slide 22: Development Net debt and leverage
22 Development Net debt and leverage • Net debt and leverage downward trend • Amortization of loan and good result has a positive impact 2024 • Net Debt ratio 2.0 (3.8) • Net Det ratio excluding Earn Out 1.4 (3.1)
Slide 23: Outlook and summary
23 Outlook and summary • Launch new products and improve customer service to increase our market share • Continue to take further steps in the development in Svedbergs i Dalstorp AB • Sustainability in all that we are doing • Continuing meeting with potential acquisitions that complement the group
Slide 24: Questions
24 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 30 January, which you find on www.svedberggroup.se under Press.
Slide 25: Thank you!
25 Thank you! Per-Arne Andersson, CEO Ann-Sofie Davidsson, CFO
Slide 26: Q&A
Q&A Per-Arne Andersson CEO Ann-Sofie Davidsson CFO