Nobia Ab · OMXSTO:NOBI
Nobia Ab — Q4 2014 Earnings Presentation
13 slides from Nobia Ab's earnings presentation, Feb 13, 2015
Slide 1: Interim report Jan-Dec 2014
Interim report Jan-Dec 2014 13 February 2015
Slide 2: Q4 highlights
Q4 highlights Net sales SEK 3,231 m (2,909) Organic growth 3% (-1) Gross margin 41.4% (42.0) EBIT margin* 7.4% (6.8) EBIT* SEK 240 m (199) Profit after tax** SEK 57 m (98) Operating cash flow SEK 301 m (210) Board of Directors proposes a dividend of SEK 1.75 per share * Excluding res
Slide 3: Kitchen market trend
Kitchen market trend Nordic market slightly up compared to last year. Professional segment developed favourably whereas consumers remained hesitant. UK market continued to grow. The growth was primarily attributable to the lower priced segment of the market. In Continental Europe the overall market
Slide 4: Improved margins and strong financials
Improved margins and strong financials Net sales and EBIT margin* Net debt and debt/equity ratio 9% SEK bn SEK bn 6.8% 15.4 7% 14.1 13.1 12.3 12.4 11.8 5% 2.4 3% 1.6 38% 1.5 1.4 1.2 1.2 1% -1% 2009 2010 2011 2012 2013 2014 2009 2010 2011 2012 2013 2014 *Excluding restructuring costs 4
Slide 5: Strategy for a strong Nobia remains
Strategy for a strong Nobia remains Initiatives Growth TARGET: EBIT margin 10% Efficiency
Slide 6: Growth initiatives
Growth initiatives Focus on innovation to bring small and larger innovations faster to market – New product launches around opportunity areas ”Size 0 kitchen” and ”Inspirational storage” Investments in digital to improve footfall – 9 new web sites launched – E-commerce platform in place Nobia-
Slide 7: M&A activities
M&A activities Divestment of Hygena Acquisition of Rixonway
Slide 8: UK region
UK region 37% of net sales in Q4 2013 2014 Organic sales growth primarily Oct-Dec Oct-Dec attributable to increased B2B sales Net sales (SEK m) 1,029 1,222 Gross margin declined due to channel mix Organic growth 8% 1% EBIT improved, despite seasonally low volumes in Rixonway Gross margin 41.0%
Slide 9: Nordic region
Nordic region 43% of net sales in Q4 2013 2014 Organic sales growth primarily in Oct-Dec Oct-Dec professional segment Net sales (SEK m) 1,275 1,382 Gross margin declined due to currency and channel mix Organic growth -3% 6% EBIT improved as a result of higher sales values and cost savings Gros
Slide 10: Continental Europe region
Continental Europe region 20% of net sales in Q4 2013 2014 Organic sales decline – growth in Oct-Dec Oct-Dec Poggenpohl could not compensate for French and Austrian sales decline Net sales (SEK m) 632 659 EBIT improved primarliy due to cost Organic growth -9% -1% savings and higher sales values,
Slide 11: Financial position, Q4
Financial position, Q4 SEK m Q4 Q4 2013 2014 Operating profit Strong operating cash flow including restructuring cost 199 133 Positive change in working capital Change in 85 160 working capital Higher cash generating earnings Investments in fixed -90 -109 assets Lower net debt Operating cash flo
Slide 12: Financial targets
Financial targets Profitability Financing Dividend EBIT margin >10% Net debt/equity ratio Average dividend over a business cycle. <100%. A temporary shall be 40-60% of Organic growth 2-3% elevation of net net profit after tax. higher than market debt/equity ratio is The capital structure growth, and
Slide 13: Q&A
Q&A