Nimbus Group Ab · OMXSTO:BOAT

Nimbus Group Ab — Q1 2024 Earnings Presentation

12 slides from Nimbus Group Ab's earnings presentation, Apr 26, 2024

  1. Slide 1: Nimbus Group Q1 report

    Nimbus Group Q1 report 26 April 2024 1

  2. Slide 2: Today's Presenters

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

  3. Slide 3: Highlights of the first quarter 2024

    Highlights of the first quarter 2024  Sales increased by 13 % to 343,7 mSEK (304,3)  EBITA amounted to -13,9 mSEK (7,6) o Negatively impacted by –23 m SEK due to temporarily reduced production of Edgewater boats o Gradually improved GM in line with FC o Adjusted EBITA (excl EW) in line with L/Y 

  4. Slide 4: This is Nimbus Group

    This is Nimbus Group  Founded in 1968  Long history of international sales  True house of well-known brands  2022, Feb - acquisition of Herholdt Andersen  2022, June - Own establishment in North America  2022, Aug – Launch of new Aquador series  2023, Jan – Presentation of Nimbus 465 Coupe pr

  5. Slide 5: Strong long term underlying market development with drivers in the premium segment

    Strong long term underlying market development with drivers in the premium segment – despite global geopolitical challenges Overall wealth is increasing Global drivers Increased popularity of “Staycation” Ageing boat fleet Industrial drivers Technical development . 5

  6. Slide 6: Order book development

    Order book development  Order book down 17% Y/Y SEKm Orderbook 1 241  Higher share of premium boats in the order book 1 139 1 0511 051 1 103 960 930 953 946 88% (83%) 854 731 759 789 708  Order book geographically well balanced in 502 relation to world market, with North America representing 51 %

  7. Slide 7: Sales development per market

    Sales development per market  Sales increase North America (+71 mSEK) driven by premium boats  Weak EdgeWater sales amounting to 34 mSEK due to temporarily reduced production  Continued soft market in the Nordic countries, -37%  Europe dropped by -10% to 89 mSEK, mainly due to Northern region 

  8. Slide 8: Sales development

    Sales development  Q1 smallest quarter in terms of sales on full year basis  Net sales in Q1 increased by +13% Y/Y, positively affected by premium boats (+85 mSEK) but impacted by lower sales of small boats -46 msek (-63%)  Organic growth in Q4 was +2,4%, driven by premium boats. Small boats drop

  9. Slide 9: EBITA Development

    EBITA Development  GM levels improved from L/Y despite low small boat production. But unable to offset negative impact from planned EW production stop  In beginning of Q2 production has started at EW and is expected to gradually ramp up during Q2.  EBITA-margin in Q1 down to -4,0% (L/Y 2,5%), aff

  10. Slide 10: CF & Working Capital

    CF & Working Capital  NWC in Q1 amounted to 663 mSEK compared with 543 in Q4. Increase with +120 mSEK same as Y/Y  Increased level of boats in transit to US and seasonality effects  Continued soft market for small boats causing higher inventory levels  Level of demo boats at own dealers are fill

  11. Slide 11: Financial Targets

    Financial Targets Growth >10% EBITA margin 10% Capital structure - No Financial debt Dividend policy 30% 11

  12. Slide 12: Q&A

    Q&A Financial calendar: AGM 16th May Q2 report 17th July 12

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