Elektroimportoren As · OSL:ELIMP
Elektroimportoren As — Elektroimportøren AS — Q1 2024 Earnings Presentation
19 slides from Elektroimportoren As's earnings presentation, May 15, 2024
Slide 1: Elektroimportøren 1st quarter presentation
Elektroimportøren 1st quarter presentation 15 May 2024 Andreas Niss CEO Jørgen Wist CFO
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Elektroimportøren AS (the “Company”) solely for information purposes. The presentation does not constitute an invitation or offer to acquire, purchase or subscribe for shares. Certain statements included in this presentation contain various forward-l
Slide 3: Agenda
Agenda Trading summary Q1 highlights Financials Outlook
Slide 4: Q1 2024 trading summary
Q1 2024 trading summary Number of Visitors Rough start of the quarter followed by a slight 600 000 464 163 483 258 improvement 400 000 Home sales in Norway down 13.4% in the quarter 200 000 compared to last year 0 Q1 2024 Visitors Q1 2023 Visitors LY Easter being in March this year compared to April
Slide 5: Q1 highlights
Q1 highlights Revenue of NOK 350 million, down 8.6% from NOK 383 million last year Like for like sales, decline 10.2% Gross margin of 34.7%, down from 35.7% last year Operating expenses of NOK 96 million, a reduction of NOK 9 million from NOK 105 million last year. Opex to sales ration of 27.5% (27.
Slide 6: Elbutik, Sweden
Elbutik, Sweden Q1 revenues of NOK 33 million up 6% from NOK 31 million last year Veddesta store contribute with NOK 7 million Gross margin of 21.6%, down from 23% last year. Higher B2B sales and campaigns driving GM% down. Reported EBITDA NOK -3 million (NOK -1 million last year) Reduction in perso
Slide 7: Namron share of business
Namron share of business for Q1 was 33.4% in Norway, up from 32.9% last year Namron gross margin was 56.5% in Q1 Namron sales in Sweden with a share of business of 8% in Q1 compared to 2.7% in Q1 2023.
Slide 8: EV Chargers
EV Chargers Q1 revenues of NOK 23 million, a -25% reduction from Q1 last year Elsäkerhetsverket in Sweden have now lifted the potential claim of repairing already installed chargers. Stock levels are normalized We now see a steady demand and good supply of products
Slide 9: Solar
Solar Total orders of NOK 10 million in Q1, in line with last year. Order back log of NOK 11 million end of March. Consumer demand are lower than expected due to low electricity prices and high interest rates Inventory levels of NOK 38 million at end of Q1 Plan to change business model to “order on
Slide 10: Total sales in Q1 of NOK 7 million
Total sales in Q1 of NOK 7 million, down from NOK 9 million last year. Decrease in EV charger installations remain the major reason for slowdown in growth, down 49% from last year. Gross margin is up 2.6pp in the quarter Continue to explore opportunities to include other craftsman areas in the platf
Slide 11: Finance
Finance == Elektroimportoren
Slide 12: Revenues
Revenues Revenue of NOK 350 million, an 8.6% reduction from NOK 383 million last year. January sales showed a double- digit decline in sales. In February sales improved and ended just below last year. The development from February continued in March, though total sales are influenced by Easter being
Slide 13: Gross margin
Gross margin Gross margin of 34.7%, down from 35.7% last year. Overall, margins were impacted by shift towards B2B with lower margin, FX effects and higher share of sales from Elbutik with lower margin. Adjusted for the effects above, gross margin in Norway would be 37.0 per cent Q1 2024.
Slide 14: OPEX
OPEX Opex to sales ratio was stable at 27.5% in Q1 (27.5% last year). Operating expenses are reduced compared to last year, even with general salary increase, inflation adjustment of costs and one new store in Sweden. The group continues to maintain a rigid cost control and the cost reduction implem
Slide 15: EBITDA
EBITDA Reported EBITDA of NOK 24 million, down from NOK 32 million last year. EBITDA margin in Q1 was 6.8%, down from 8.2% last year. The reduction in EBITDA is due to lower sales and margins, but managing costs well, with a stable opex to sales ratio.
Slide 16: Events after the period and Outlook
Events after the period and Outlook
Slide 17: Events after the period and Outlook
Events after the period and Outlook In the beginning of May we published our first ever sustainability report We believe that market conditions will continue to be challenging but we have experienced better development vs. last year in the beginning of the 2nd quarter.
Slide 18: Q&A
Q&A == Elektroimportoren
Slide 19: Elektroimportøren
Elektroimportøren