Duni Ab · OMXSTO:DUNI

Duni Ab — Q3 2011 Earnings Presentation

16 slides from Duni Ab's earnings presentation, Oct 26, 2011

  1. Slide 1: Q3 Presentation 2011

    Q3 Presentation 2011 26 October, 2011

  2. Slide 2: Disclaimer

    Disclaimer • This presentation has been prepared by Duni AB (the “Company”) solely for use at this investor presentation and is furnished to you solely for your information and may not be reproduced or redistributed, in whole or in part, to any other person. By attending the meeting where this prese

  3. Slide 3: 2011 Q3 Highlights

    2011 Q3 Highlights • Net sales declined by 2,8% to SEK 917 m (943) 1) • Underlying operating income amounted to SEK 98 m (103) 1) 2) • Underlying operating margin amounted to 10.7% (11,0%) 1) 2) • Stable development within Professional – South & East growing parallel with stability in mature markets

  4. Slide 4: Market Outlook

    Market Outlook • HORECA market long-term growing in line or slightly above GDP – Positive eating out trend. – Higher growth in take-away sector. • Retail growth in line with GDP over time – Continuous weak retail markets in Western Europe, albeit improving compared to last year. – Even though privat

  5. Slide 5: HORECA Sales Development, Germany (Q2 2011)

    HORECA Sales Development, Germany (Q2 2011) HoReCa total 5 26/10/11

  6. Slide 6: Restaurant Sales Development, Sweden (July 2010 – July 2011)

    Restaurant Sales Development, Sweden (July 2010 – July 2011)  ­0,3% in volume in July and +3,2% in value.  +4,8% in volume YTD and +7,8% in value 6 26/10/11

  7. Slide 7: Business Areas

    Business Areas

  8. Slide 8: Professional – Stability

    Professional – Stability Sales and EBIT 1 Geographical split – sales Q3 2011 Net sales Q3 2011 Q3 2010 Growth Growth at Professional fixed exchange 3 000 16% rates 14% 2 500 SE K m illions 12% Nordic 152 152 0.0% 0.0% 2 000 10% Central 1 500 8% Europe 417 412 1.2% 2.9% 6% South & East 1 000 Europe 1

  9. Slide 9: Retail – Seasonally weak quarter

    Retail – Seasonally weak quarter Sales and EBIT 1 Geographical split – sales Q3 2011 900 6% Net sales Q3 2011 Q3 2010 Growth Growth at Retail fixed 800 exchange 4% rates 700 2% Nordic 16 18 ­11.1% ­11.1% 600 Central SEK millions 0% 500 Europe 90 108 ­16.7% ­15.7% 400 ­2% South & East Europe 4 12 ­66

  10. Slide 10: Tissue – Improved production efficiency

    Tissue – Improved production efficiency Sales and EBIT Sales mix Q3 2011 600 14% 500 12% External 44% SEK millions 10% 400 8% 300 6% Internal 56 % 200 4% 100 2% 0 0% 2007 2008 2009 2010 LTM Sales EBIT Margin • Balance between internal and external volumes enables more stable capacity utilization. •

  11. Slide 11: Financials

    Financials 11 26/10/11

  12. Slide 12: Income Statement

    Income Statement SEKm Q3 Q3 YTD YTD LTM FY 2011 2010 2011 2010 2010 Net sales 917 943 2 744 2 873 3 842 3 971 Gross profit 248 245 716 739 1 028 1 052 Gross margin 27.1% 26.0% 26.1% 25.7% 26.8% 26.5% Selling expenses ­105 ­99 ­332 ­328 ­439 ­434 Administrative expenses ­43 ­43 ­128 ­129 ­173 ­174 R&

  13. Slide 13: Improved Efficiency in Tissue

    Improved Efficiency in Tissue SEKm Q3 Q3 YTD YTD LTM FY 2011 2010 2011 2010 2010 Professional Net sales 696 681 2 016 2 025 2 774 2 783 Operating income1) 93 97 237 260 361 384 Operating margin 13.3% 14.3% 11.7% 12.8% 13.0% 13.8% Retail Net sales 110 138 403 458 634 689 Operating income1) ­5 ­1 ­3 ­

  14. Slide 14: Improved Cash Flow driven by Working Capital Reduction

    Improved Cash Flow driven by Working Capital Reduction SEKm Q3 Q3 YTD YTD LTM FY 2011 2010 2011 2010 2010 EBITDA1) 125 130 333 351 520 537 Capital expenditure ­58 ­45 ­177 ­178 ­236 ­236 Change in; Inventory ­66 ­66 ­92 ­150 ­25 ­83 Accounts receivable 38 17 ­23 ­41 ­57 ­74 Accounts payable 4 ­1 ­4

  15. Slide 15: Financial Position Remains Solid

    Financial Position Remains Solid SEKm Q3 2011 Q3 2010 FY 2010 Goodwill 1 199 1 199 1 199 Tangible and intangible fixed assets 728 603 632 Net financial assets1) 241 290 253 Inventories 534 506 437 Accounts receivable 670 610 634 Accounts payable ­315 ­270 ­315 Other operating assets and liabilities3

  16. Slide 16: Financial Targets

    Financial Targets 2011-09 LTM • Organic growth of 5% over a 0% Sales growth > 5% business cycle (at fixed exchange rates) • Consider acquisitions to reach new markets or to strengthen current market positions 10.8% EBIT margin > 10% • Top line growth – premium focus • Improvements in manufacturing,

Duni — Q3 2011 Earnings Presentation on 6ix