Nimbus Group Ab · OMXSTO:BOAT

Nimbus Group Ab — Q3 2024 Earnings Presentation

11 slides from Nimbus Group Ab's earnings presentation, Oct 25, 2024

  1. Slide 1: Nimbus Group Q3 report

    Nimbus Group Q3 report 25 October 2024 1

  2. Slide 2: Today's Presenters

    Today’s Presenters Jan-Erik Lindström Rasmus Alvemyr CEO CFO 2

  3. Slide 3: Business update third quarter 2024

    Business update third quarter 2024  Sales amounted to 378 mSEK (475), down by 20%  EBITA pre restructuring costs -11 mSEK (13)  Cost levels affected by lower production volumes  Value boats business is loss making, by 40 mSEK (LTM)  European market very soft, sales down -61% YoY  Increased ord

  4. Slide 4: This is Nimbus Group

    This is Nimbus Group  Founded in 1968  Long history of international trade  True house of well-known brands  2022, June - Own establishment in North America  2023, May – Acquisition of EdgeWater Power Boats (enabling local US production)  2024, first US produced Nimbus boat in Q2  2024, sept

  5. Slide 5: Order book development

    Order book development  Order book amounted to 508 (L/Y 946) SEKm  Order intake in Q3 increased by +18% YoY to 374 mSEK 90% 79% 80% 1 200 78%  Indications in Q2 of shift towards shorter orderbook 80% 69% 66% 70% timeframe has been confirmed 1 000 64% 62% 61% 58% 60% 53% 54%  Positive effect from

  6. Slide 6: Sales development per market

    Sales development per market  North America dropped by -6 mSEK driven by EdgeWater brand. Sales of Nimbus brand increased by +42%.  In the Nordics, the soft market seems to have bottomed out  Significant drop in Europe by -61% to 47 mSEK, softer than anticipated  Other markets down by -11 mSEK (

  7. Slide 7: Sales development

    Sales development  Net sales in Q3 decreased by -20% Y/Y, driven by softer demand for both premium and value boats in Europe  Organic growth in Q3 -19% Sales development Distribution of sales in the third quarter, SEK Million 400 SEKm -9% 350 364 300 250 264 200 1 938 1 806 1 751 1 875 1 898 1 706

  8. Slide 8: EBITA Development

    EBITA Development  EBITA in Q3 amounted to -69 mSEK (13), affected by: – Lower sales volume (-20%) – Restructuring provision of 55 mSEK – Improved GM on premium boats offset by cost under-absorption from lower production EBITA LTM – Adjusted for value boats production EBITA LTM - trend Increase Dec

  9. Slide 9: CF & Working Capital

    CF & Working Capital  Operating CF in Q3 amounted to -69 mSEK (-46) driven by decreased pre-payments  Continued soft market in particularly Europe has caused higher inventory levels than expected due to less “in-for-out” sales during spring/summer period.  NWC in Q3 amounted to 563 mSEK which is

  10. Slide 10: Financial Targets

    Financial Targets Growth >10% EBITA margin 10% Capital structure - No Financial debt Dividend policy 30% 10

  11. Slide 11: Q&A

    Q&A Financial calendar: Q4 report 4 February 2025 11

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