Fodelia Oyj · OMXHEX:FODELIA
Fodelia Oyj — Q3 2024 Earnings Presentation
32 slides from Fodelia Oyj's earnings presentation, Oct 23, 2024
Slide 1: Business Review January-September 2024
WEBCAST 23.10.2024 Business Review January-September 2024 Mikko Tahkola, CEO Kati Kokkonen, CFO
Slide 2: Agenda
JANUARY-SEPTEMBER 2024 1 January–September highlights and financial development 2 Business development and market situation 3 Strategy and future 4 Q&A
Slide 3: January–September highlights and financial development
JANUARY-SEPTEMBER 2024 January–September highlights and financial development
Slide 4: The Group's business performed very well in the third quarter
JANUARY-SEPTEMBER 2024 The Group’s business performed very well in the third quarter. Comparable continuing operations net sales increased by 18 % in July–September compared to the same period last year. Operating income excluding the costs of the long-term incentive scheme for the period was approx
Slide 5: Development of the Foodservice market
JANUARY-SEPTEMBER 2024 Development of the Foodservice Annual change in Foodservice wholesale trade turnover 2010–2024 market The cumulative turnover of the Foodservice wholesale sector decreased by 1.9% in January–August compared to the previous year. TOTAL Source: Statistics Finland Source: PTY, Se
Slide 6: Highlights
JANUARY-SEPTEMBER 2024 Highlights • Feelia’s turnover increased by 30% during the review period, clearly exceeding the sluggish development of the Foodservice market. Customer segments in the care sector, according to the current strategy, ensure more stable business development compared to the rest
Slide 7: Group development projects
JANUARY-SEPTEMBER 2024 Group development projects • We are preparing for reporting in accordance with the CSRD directive, which will apply from 1.1.2025. • The unification of HR processes and projects related to the development of internal communication will strengthen group cooperation. The Pyhäntä
Slide 8: Feelia I Solar Park
JANUARY-SEPTEMBER 2024 Feelia I Solar Park • A solar park will be built next to the Feelia factory, covering 1.5 hectares and 1,376 solar panels, with an estimated annual output of approximately 678,000 kWh. The park will be constructed by a partner with whom Feelia will sign a long-term service mod
Slide 9: Key Figures I Group
JANUARY-SEPTEMBER 2024 Key Figures I Group Group 7-9/24 7-9/23 Change 1-9/24 1-9/23 Change 1-12/23 -% -% Net sales, thousand EUR 12 929 12 249 5,6 40 121 36 507 9,9 48 965 Adjusted EBITDA, thousand EUR 1 543 1 500 2,9 3 912 3 448 13,5 4 575 % of net sales 11,9 12,2 9,8 9,4 9,3 EBITDA, thousand EUR 1
Slide 10: Net sales development Q3
JANUARY-SEPTEMBER 2024 Net sales development Q3 The net sales of continuing operations grew by approximately 18%. The group's total net sales increased by approximately 5.6%. The figures for 2023 include businesses sold in May 2024 Continuing operations total Fodelia Group total Change %
Slide 11: Net sales development Q3 Continuing Operations
JANUARY-SEPTEMBER 2024 Net sales development Q3 Continuing Operations Among the group’s units, Feelia’s net sales has continued strong growth. Oikia’s comparable net sales decreased slightly. The decline was caused by a drop in e-commerce sales. Feelia Oikia, Other units Continuing continuing Elimin
Slide 12: Net sales development 1-9/2024
JANUARY-SEPTEMBER 2024 Net sales development 1-9/2024 The net sales of continuing operations in the group grew by approximately 18% in January–September. The group’s total net sales increased by approximately 10%. The figures for 1-9/2023 include the net sales of businesses sold in May 2024. Continu
Slide 13: Net sales development 1-9/2024 Continuing Operations
JANUARY-SEPTEMBER 2024 Net sales development 1-9/2024 Continuing Operations Feelia’s net sales grew by approximately 30% in January–September. Marjavasu’s net sales also increased. Oikia's revenue decreased by approximately 12%. Feelia Oikia, Other units Continuing Eliminations continuing operations
Slide 14: Key Figures by Business Operations | Net sales by unit
JANUARY-SEPTEMBER 2024 Key Figures by Business Operations | Net sales by unit Net sales by unit/ 7-9/24 7-9/23 Change-% 1–9/24 1–9/23 Change-% 1–12/23 Business Area Feelia 8 601 6 598 30,3 25 465 19 541 30,3 26 513 Oikia, continuing 3 494 3 798 -8,0 10 387 11 796 -11,9 14 797 operations Other units
Slide 15: Profit Development Q3
JANUARY-SEPTEMBER 2024 The group’s operating Profit Development Q3 profit in July– September was 8.1% of net sales. The third quarter included long-term incentive program costs totaling approximately EUR 280 thousand. The group’s operating Continuing Continuing operations total* profit without these
Slide 16: Profit Development 1-9/2024
JANUARY-SEPTEMBER 2024 The group’s operating profit in January– September 2024 was Profit Development 1-9/2024 affected by business transactions completed in May, which resulted in a one-time impact of - 1,254 thousand euros. The group's adjusted operating profit was 2,354 thousand euros, or 5.9% of
Slide 17: Key Figures by Business Operations | EBIT
JANUARY-SEPTEMBER 2024 Key Figures by Business Operations | EBIT EBIT by unit / Change business area 7–9/24 7–9/23 Change-% 1–9/24 1–9/23 1–12/23 -% Feelia 806 741 8,7 2 384 1 849 28,9 2 472 Oikia, continuing operations 285 189 50,9 610 297 105,4 234 Other units 34 97 -65,4 -263 160 -264,4 179 Elimi
Slide 18: Other Key Figures | Group
JANUARY-SEPTEMBER 2024 Other Key Figures | Group Group 7-9/24 7-9/23 Change-% 1-9/24 1-9/23 Change-% 1-12/23 Adjusted profit for the review period, thousand € 731 699 4,6 1 340 1 263 6,1 1 204 % of net sales 5,7 5,7 3,3 3,5 2,5 Profit for the review period, thousand € 731 699 4,6 86 1 263 -93,2 1 20
Slide 19: Business development and market situation
JANUARY-SEPTEMBER 2024 Business development and market situation
Slide 20: Fodelia's businesses
Fodelia´s businesses Feelia operates in the growing Foodservice Oikia concentrates on retail customers and market, offering ready-made meals and the development of e-commerce for meal services in its customer. consumers. The company includes the businesses of The production facilities are located in
Slide 21: Feelia | Key Figures
JANUARY-SEPTEMBER 2024 Feelia | Key Figures • Net sales grew by 30.3% both in January–September and July–September. Feelia’s external net sales increased by 38.8% in January–September and by 36.0% in July–September. The increased sales to the care sector boosted the group's external net sales. Feeli
Slide 22: Feelia | Highlights
JANUARY-SEPTEMBER 2024 Feelia | Highlights • During the third quarter, 60 new products were launched. The products have been well received by the customer base. • The long-running tray packaging project has reached the pilot phase, and deliveries will begin during the fourth quarter. • A new tempera
Slide 23: Feelia | FERP Ordering System
JANUARY-SEPTEMBER 2024 Feelia | FERP Ordering System The FERP ordering system is Feelia’s ordering platform, which allows Foodservice customers to order products easily and accurately, minimizing waste. The most significant updates during Q3 were the introduction of a new reporting tool and a waste
Slide 24: Feelia | Temperature-Free Products
JANUARY-SEPTEMBER 2024 Feelia | Temperature-Free Products The products in Feelia's temperature-free product family are designed to be stored at room temperature as emergency food and for various exceptional situations. • Product packages can be stored unopened for up to six months and are easy to us
Slide 25: Oikia I Highlights
JANUARY-SEPTEMBER 2024 Oikia I Highlights In the snacks business, Q3 was a quarter of steady growth: • The production efficiency at the Pyhäntä snack factory has been significantly improved, which helps increase production to meet growing demand. • The sales of the Oikia brand's snacks showed promis
Slide 26: Oikia I Key Figures
JANUARY-SEPTEMBER 2024 Oikia I Key Figures The comparability of Oikia's 2024 figures was significantly affected by the business transactions executed in May. • Comparable net sales decreased by 11.9% in January–September and amounted to EUR 10,387 thousand (EUR 11,796). Net sales decreased by 8.0% i
Slide 27: Other units
JANUARY-SEPTEMBER 2024 Other units Marjavasu • Marjavasu’s net sales increased by 7.8% in January–September and by 5.4% in July–September. The company’s profitability returned to a very good level during the third quarter.Marjavasu’s operations are being integrated into Feelia. Production moved to F
Slide 28: Strategy and future
JANUARY-SEPTEMBER 2024 Strategy and future
Slide 29: Fodelia moving from portfolio company to active participant in the food sector
JANUARY-SEPTEMBER 2024 Following the updated strategy on May 16, Fodelia is moving from being a portfolio company to an active participant in the food sector. The business acquisition executed during the review period (Perniön Liha & Helsingin Makkaratehdas) clarified Fodelia's strategy. In our curr
Slide 30: Updated Fodelia's strategy
Fodelia's strategy = @ — <7 Our goal To be the most interesting innovator in the food industry Cornerstones of our strategy é u | e To ensure growth and profitability erg - engaged and skilled personnel, well-functioning processes, seizing opportunities in the food industry market nooo nooo oooo ooo
Slide 31: Q&A
JANUARY-SEPTEMBER 2024 Q&A
Slide 32: Thank you.
JANUARY-SEPTEMBER 2024 Thank you. Contacts: Mikko Tahkola mikko.tahkola@fodelia.fi 040 829 0195