Duell Oyj · OMXHEX:DUELL
Duell Oyj — Q1 2025 Earnings Presentation
14 slides from Duell Oyj's earnings presentation, Jan 16, 2025
Slide 1: Duell Corporation Financial Report September-November 2024 (Q1 2025)
Duell Corporation Financial Report September-November 2024 (Q1 2025) January 16, 2025 Magnus Miemois, CEO Caj Malmsten, CFO Pellervo Hämäläinen, IR
Slide 2: Q1 2025 in brief
Q1 2025 in brief Growth and profitability improvement continued • Financials • Net sales growth, fully organic • Improved profitability • Enhanced net working capital management • Significantly improved financial position • Markets & Product Categories • Focus shifted to winter season in Nordics • S
Slide 3: Operational highlights Q1 2025
Operational highlights Q1 2025 AMOQ ATV Alpinestars MX Snowmobile fairs Duell’s house brand AMOQ Four season category Broader distribution rights Increased activity in Finnish -fastest growing snow gear covering over 5,000 for MX category in Central and Swedish snowmobile brand in Nordics with activ
Slide 4: Key figures Q1 2025
Key figures Q1 2025 • Net sales 28.3 MEUR (27.0) Net sales • Growth +4.7% • Gross Margin 24.9% (23.9%) Profitability • Adjusted EBITA 0.7 MEUR (0.3) • Adjusted EBITA margin 2.4% (1.0%) • Net Debt 24.7 MEUR (45.2) Financial • Leverage 3.1x (7.2x) position • Cash Flow from Operating activities -4.8 ME
Slide 5: Fully organic net sales growth
Fully organic net sales growth Quarterly net sales development MEUR Quarterly net sales development +4.7% 40 37.6 37.9 Q1 2025 31.6 30 42% 29.9 28.2 28.3 • Fully organic growth +4.7% 25.7 25.5 27.0 49% 50% • Growth in comparable currencies +4.4% 49% 44% 46% 20 38% 36% 44% • Nordics 54% (56) Central
Slide 6: Profitability improved
Profitability improved Quarterly adjusted EBITA development MEUR +145 % 4 3.8 3.2 Q1 3 • Adjusted EBITA 0.7 MEUR (0.3) 10.1% • Gross margin 24.9% (23.9) 2 1.4 8.4% 1.4 • Good development with strong 1.0 seasonal ATV and Snow brands 1 0.7 4.9% 3.8% 0.2 0.3 4.2% • Efficiency programme launched 2.4% -0
Slide 7: Improved working capital management efficiency
Improved working capital management efficiency Improved inventory turnover and efficiency, 38% of LTM* Net Sales (43%) NWC and % of LTM* net sales development MEUR -2 MEUR 100 NWC 62.1 80 NWC 55.5 NWC 53.5 23.0 60 18.6 19.9 40 58.1 52.0 20 48.4 38% 0 -19.0 -15.1 -14.8 -20 Q1 2023 Q1 2024 Q1 2025 -40
Slide 8: Stronger financial position
Stronger financial position Net debt and leverage MEUR 60 -20.5 50.4 MEUR 50 45.2 • Significantly improved financial position, mainly due to 40 rights issue 30 24.7 • Improved operational cashflow profile -4.8 MEUR (-7.0). 7.2x Inventory building ahead of peak winter season tied cash 20 7.0x • Net c
Slide 9: 2025 guidance unchanged
2025 guidance unchanged 2025 guidance • Markets have somewhat stabilised, but consumer sentiment remains fragile due to uncertainties. Duell expects the demand over the next 12 months to be slightly better than the comparison period, but there may be variations between product categories. • The indu
Slide 10: Strategy and focus areas on financial year 2025
Strategy and focus areas on financial year 2025 Strategy • Geographical expansion • Partner for online sales • Product portfolio development Focus areas • Profitability improvement • Growth • Efficient net working capital management 10
Slide 11: Duell has a strong position in value chain
Duell has a strong position in value chain >130,000 11
Slide 12: Summary of the quarter
• Good quarter despite late winter season start in Nordics • Net sales growth and profitability improvement • Improved net working capital management 12 12
Slide 13: Q&A
Q&A
Slide 14: Contact details
Dug HQ | Mustasaari, Finland T | + 358 (0) 20 118 000 E | info@duell.eu | forename.surname@duell.eu W | www.duell.eu Duell Bike-Center Oy | Duell Oyj | Kauppatie 19 | 65610 Mustasaari | Finland Duell AB | Bredkarrsgatan 10 | 57392 Tranas | Sweden Duell AB Denmark | Snaremosevej 23C (2), Erritsa | 70