Byggmax Group Ab · OMXSTO:BMAX
Byggmax Group Ab — FY2016 Earnings Presentation
23 slides from Byggmax Group Ab's earnings presentation, Jan 24, 2017
Slide 1: Year-end report January - December 2016
Year-end report January - December 2016 January 24, 2017 Mattias Ankarberg and Pernilla Walfridsson
Slide 2: Summary Q4 2016
Summary Q4 2016 • Net sales increased +16.2 percent, compared with pro forma unchanged (0.0%). • Net sales for comparable stores declined 9.1 percent (+16.4). • The gross profit margin amounted to 29.8 percent, compared with 32.4 percent (pro forma 32.4). • No earnout relating to the acquisition of
Slide 3: Summary full-year 2016
Summary full-year 2016 • Net sales increased +26.3 percent, compared to pro forma increased +6.6 percent • Net sales for comparable stores increased +0.8 percent (+12.8). • The gross margin amounted to 30.6 percent, compared with 30.6 percent (pro forma 30.9). • The earnout related to the acquisitio
Slide 4: Segments
Segments October-December January - December SEK M 2016 2015 2016 2015 Income from external customers Byggmax 807.7 848.8 4,331.6 4,143.1 Skånska Byggvaror 145.4 0.0 794.7 0.0 Other 88.7 -6.8 221.7 -2.0 Total income 1,041.8 842.0 5,348.0 4,141.1 EBITDA Byggmax 36.1 60.5 417.8 389.1 Skånska Byggvaror
Slide 5: Comments on the segments
Comments on the segments Sales • The Byggmax segment declined 4.8 percent during the quarter, as a result of the weaker market and tough comparable figures. • Sales for Skånska Byggvaror continued to increase during the quarter, +10.8 percent, and the weaker market was offset by an increase in the n
Slide 6: 15 stores were opened in 2016
15 stores were opened in 2016 Sweden Norway Finland Skånska Byggvaror Store network at December 31, 2016 Number of stores, Q4 2016 0 1 0 0 Planned openings, Q1 2017 0 0 0 0 New stores in 2016 7 3 0 5 The following stores were opened in 2016: - Sweden: Arlanda stad, Kungälv, Köping, Mora, Trelleborg
Slide 7: Market development
Market development • The Swedish building supplies market grew 4.7% during the first eight months of the year. • During the same period, the Norwegian market increased 0.6 percent and the Finnish market 0.6 percent. • The Danish market increased 7.1 percent between January and October. • The Associa
Slide 8: The Board of Directors proposes a dividend of SEK 2.4 per share
The Board of Directors proposes a dividend of SEK 2.4 per share dividend • The Board of Directors proposes 3 2,6 a dividend of SEK 2.4 (2.14) per 2,5 2,3 2,14 2,4 2,0 share 2 1,8 1,5 1,5 • Byggmax’s dividend policy is to 1 distribute at least 50 percent of 0,5 dividend sek, net profits for the year
Slide 9: Outlook
Outlook • The market trend in Sweden is positive over time. The market grew strongly during the first half of 2016, which means that market development will probably remain weak in the first half of 2017. In both the Finnish and Norwegian market, uncertainty remains regarding economic developments.
Slide 10: Financial information
Financial information January 24, 2017
Slide 11: Results trend
Results trend Earnings overview October - December October-December pro forma 2016 2015 2015 Net sales, SEK M 974.9 839.3 975.4 Gross margin, percent 29.8 32.4 32.4 EBITDA, excluding acquisition costs, SEK M 94.1 67.3 68.6 EBITDA, SEK M 94.1 58.0 52.2 EBITDA margin, percent 9.7 6.9 7.0 EBIT, SEK M 5
Slide 12: Results trend
Results trend Earnings overview January - December January-December pro-forma 2016 2015 2015 Net sales, SEK M 5,219.3 4,131.1 4,898.0 Gross margin, percent 30.6 30.6 30.9 EBITDA, excluding acquisition costs, SEK M 581.6 425.5 475.4 EBITDA, SEK M 581.3 415.8 455.6 EBITDA margin, percent 11.1 10.1 9.7
Slide 13: Sales trend
Sales trend The sales increase was divided according to the following: October - December 2016 January - December 2016 Comparable stores, local currency, percent -9.1 0.8 Non-comparable stores and Other, percent 23.4 26.2 Currency effects, percent 1.9 -0.6 Total, percent 16.2 26.3 • The operation’s
Slide 14: Gross margin
Gross margin Fourth quarter • The gross margin was 29.8 percent (32.4). The pro forma gross margin amounted to 32.4 percent. • The gross margin for the Byggmax segment was adversely impacted by lower volume bonuses from suppliers compared with the corresponding quarter in preceding year, which was s
Slide 15: Operating expenses
Operating expenses Fourth quarter • Personnel costs and other external expenses rose a total of SEK 46.4 M. • The increase in expenses compared with the year-earlier period was mainly attributable to costs linked to the acquired companies amounting to SEK 44.8 M. • Personnel and other external expen
Slide 16: Net financial items
Net financial items Profit/loss from financial items October - December January - December SEK M 2016 2015 2016 2015 Group Profit from participations in Group companies 0.0 0.0 0.0 11.8 Comprehensive income from participations in Group companies 0.0 0.0 0.0 11.8 Financial income Exchange-rate gains
Slide 17: Financial position and cash flow
Financial position and cash flow Oct 1, 2016- Oct 1, 2015- Jan 1, 2016- Jan 1, 2015 - Amounts in SEK M Dec 31, 2016 Dec 31, 2015 Dec 31, 2016 Dec 31, 2015 Cash flow from operating activities before changes in working capital 76.2 44.2 487.3 351.1 Changes in working capital -326.0 -320.8 -151.8 140.9
Slide 18: Condensed financial statements January - December 2016
Condensed financial statements January - December 2016 January 24, 2017
Slide 19: Income statement
Income statement Oct 1, 2016- Oct 1, 2015- Jan 1, 2016 - Jan 1, 2015 - Amounts in SEK M Dec 31, 2016 Dec 31, 2015 Dec 31, 2016 Dec 31, 2015 Net sales 974.9 839.3 5,219.3 4,131.1 Other operating income 66.9 2.7 128.7 10.0 Operating income 1,041.8 842.0 5,348.0 4,141.1 Operating expenses Goods for sal
Slide 20: Balance sheet
Balance sheet Amounts in SEK M Dec 31, 2016 Dec 31, 2015 Amounts in SEK M Dec 31, 2016 Dec 31, 2015 SHAREHOLDERS’ EQUITY AND LIABILITIES ASSETS Shareholders’ equity 1,302.2 1,142.0 Fixed assets Intangible fixed assets 2,222.3 1,215.7 Liabilities Tangible fixed assets 375.7 286.6 Borrowing from credi
Slide 21: Cash flow statement
Cash flow statement Oct, 2016- Oct 1, 2015- Jan 1, 2016 - Jan 1, 2015 - Amounts in SEK M Dec 31, 2016 Dec 31, 2015 Dec 31, 2016 Dec 31, 2015 Cash flow from operating activities EBIT 55.2 35.5 391.8 331.7 Non-cash items -Depreciation/amortization of intangible and tangible fixed ASSETS 39.0 23.8 189.
Slide 22: Cash flow statement, continued
Cash flow statement, continued Oct 1, 2016- Oct 1, 2015- Jan 1, 2016 - Jan 1, 2015 - Amounts in SEK M Dec31, 2016 Dec31, 2015 Dec 31, 2016 Dec 31, 2015 Cash flow from investing activities Investment in intangible fixed assets -5.9 -9.0 -22.4 -22.8 Investment in tangible fixed assets -15.6 -27.4 -149
Slide 23: Largest shareholders at December 31, 2016
Largest shareholders at December 31, 2016 Name Number of shares Holding (% ) Nordea Investment Funds 6 715 894 11,06 Swedbank Robur fonder 5 876 132 9,67 SEB Investment Management 5 785 570 9,53 Handelsbanken fonder 2 962 808 4,88 Carnegie fonder 2 899 150 4,77 ODIN Forvaltning AS 2 608 158 4,29 FÖR