Europris Asa · OSL:EPR
Europris Asa — Q1 2025 Earnings Presentation
25 slides from Europris Asa's earnings presentation, Apr 10, 2025
Slide 1: Q1 2025 presentation
Q1 2025 presentation 10 April 2025 CEO Espen Eldal CFO Stina Byre
Slide 2: Disclaimer
Disclaimer This presentation has been produced by Europris ASA (the "Company") exclusively for information purposes. This Presentation has not been approved, reviewed or registered with any public authority or stock exchange. Further to the aforementioned, this presentation is the result of an effor
Slide 3: The Europris group
The Europris group A Nordic retail champion in the making… …with strong concepts across 380 stores Annual sales Annual EBIT ~NOK 14bn ~NOK 1.1bn 93 Customer club Annual footfall 287 ~4 million ~58 million members transactions 3 Figures are based on approximate and pro-forma figures last 12 months at
Slide 4: Our growth story
Acquired Our growth story remaining 80% of ÖoB Acquired remaining 33% of Lekekassen Sales of ~NOK 14bn* Acquired 67% of Strikkemekka Acquired 67% of Opened Shanghai Lekekassen sourcing office (JV with Acquired Tokmanni) 20% of ÖoB Listed on Acquired by Oslo Børs Nordic Capital Acquired by IK Investm
Slide 5: Financial highlights - first quarter
Financial highlights - first quarter • Group sales of NOK 2.9bn, up 45.0% • Organic growth of 1.2% - estimated adverse effect of NOK 80-100 million from timing of Easter and one less calendar day (leap year 2024) • Gross margin of 38.7%, down 4.6%-p • Organic decline of 0.4%-p, but 1.7%-p improvemen
Slide 6: Short-term negative but long-term positive impact from stronger local currencies
Short-term negative but long-term positive impact from stronger local currencies USD/NOK 12,00 • NOK and SEK appreciated vs the central purchasing currencies USD and EUR during the first quarter 11,80 11,60 • Unrealised loss of NOK 34 million due to group’s six- 11,40 month hedging strategy, versus
Slide 7: Segment Norway continuing a positive trend
Segment Norway continuing a positive trend Europris Asker • Increased footfall, despite the later Easter this year and leap year last year • Three store openings in central locations - two in the greater Oslo area and one in Kristiansand • One of three stores in Tromsø closed • Four store modernisat
Slide 8: Modernised IT platform set to drive efficiency
Modernised IT platform set to drive efficiency • Significantly upgraded the IT platform in Norway over the past years • New systems for ERP, business intelligence and point-of-sale • All completed on time and budget • New ERP and business intelligence also in place in Sweden • Impressive efforts, wi
Slide 9: ÖoB integration progressing to plan – turnaround takes time, as expected
ÖoB integration progressing to plan – turnaround takes time, as expected • Clearance sale continuing through first and into the second quarter • Improving quality of inventory and preparing for new and upgraded product range… • …but cannibalising on other sales and impacting margins negatively • Kit
Slide 10: Maintaining our high ambitions: grow ÖoB revenues to SEK 5bn by 2028, with 5% EBIT margin
Maintaining our high ambitions: grow ÖoB revenues to SEK 5bn by 2028, with 5% EBIT margin Category harmonisation and joint sourcing SEK 5bn Improve customer experience 5% EBIT Strengthen execution across the value chain 10
Slide 11: Financials
Financials CFO Stina C Byre 11
Slide 12: Group financials – first quarter highlights
Group financials – first quarter highlights Key figures Group, first quarter 2025 • +45% due to the acquisition of ÖoB Sales NOK 2.9bn • Organic growth of 1.2% • Adverse impact from timing of Easter and one less calendar day • -4.6%-p, adversely impacted by ÖoB’s lower margin level and negative Gros
Slide 13: Group – cash, debt and liquidity
Group – cash, debt and liquidity Q1 Q1 FY Group cash flow, NOK million 2025 2024 2024 • Cash from operating activities of NOK -544m (-280) Cash from operating activities (544) (280) 1,496 • Net change in working capital adversely impacted by planned - of which change in net working capital (581) (39
Slide 14: Segment Norway – first quarter
Segment Norway – first quarter 2024 Highlights Norway Key figures Norway, first quarter 2025 • Sales of NOK 2.1bn, up 1.2% 2,0 2,1 • Gross margin up 1.7%-p excluding unrealised currency hedging effects • Opex-to-sales up 1.0%-p 107 78 • EBIT down 26.6% • Marginal sales decline of 0.2% for the Europr
Slide 15: Segment Sweden – first quarter
Segment Sweden – first quarter 2024 Highlights Sweden Key figures Sweden, first quarter 2025 0,9 • Sales of NOK 0.9bn • Adverse impact from timing of Easter and one less calendar day • Gross margin of 28.9% adversely impacted by: na na • Unrealised loss on currency hedging of NOK 10m -115 • Clearanc
Slide 16: Outlook
Outlook Europris
Slide 17: Europris and revamped ÖoB – resilient concepts in challenging times
Europris and revamped ÖoB – resilient concepts in challenging times • The geopolitical climate for international trade and cooperation is in uncharted territory and the group monitors the situation closely • Consumer saw higher real wages in 2024 – and likely also in 2025 • Lower interest rate level
Slide 18: Q&A
Q&A Next event: Q2 presentation 10 July 2025
Slide 19: Appendix
Appendix
Slide 20: Content
Content Long-term financial and operational ambitions Sales days and store projects Analytical information Alternative Performance Measures (APM’s) 20
Slide 21: Long-term financial and operational ambitions - segment Norway
Long-term financial and operational ambitions - segment Norway Growth Continue to deliver like-for-like growth above the market over time Target to open a net average of five new stores per year, depending on availability of locations which Number of new stores meet strict return requirements, and t
Slide 22: Sales days and store projects – segment Norway
Sales days and store projects – segment Norway Number of sales days Year Q1 Q2 Q3 Q4 Total 2024 75 73 79 80 307 2025 76 71 79 80 306 2026 76 72 79 80 307 Number of store projects (franchise projects in brackets) • 2024 Q1 Q2 Q3 Q4 Total New stores - - - 1 1 Store closures - - - - - Relocations / 3 6
Slide 23: Sales days and store projects – segment Sweden
Sales days and store projects – segment Sweden Number of sales days Year Q1 Q2 Q3 Q4 Total 2024 90 91 92 91 364 2025 89 91 92 91 363 2026 89 91 92 91 363 Number of store projects • 2024 Q1 Q2 Q3 Q4 Total New stores - - - - - Store closures - - - 1 1 Relocations / - - - - - expansions Modernisations
Slide 24: Analytical information – segment Norway
Analytical information1 – segment Norway Seasonality • As a rule-of-thumb, the Easter impact is approximately NOK 65-80 million in revenue and NOK 13-16 million in EBITDA • Europris stores: as a rule-of-thumb, Opex in quarter one year earlier + inflation + NOK 1.6-1.7 million Quarterly Opex per extr
Slide 25: Alternative performance measures (APMs)
Alternative performance measures (APMs) APMs are used by Europris for annual and periodic financial reporting to provide a better understanding of the group’s financial performance. APMs are considered as well-know and frequently used by users of the financial statements and are also used in interna