Puuilo Oyj · OMXHEX:PUUILO
Puuilo Oyj — Q3 2024 Earnings Presentation
16 slides from Puuilo Oyj's earnings presentation, Dec 11, 2024
Slide 1: Net sales and adjusted EBITA increased significantly, relative profitability at excellent level
Net sales and adjusted EBITA increased significantly, relative profitability at excellent level Business review 03/2024 Puuilo Plc 11 December 2024 Juha Saarela, CEO Ville Ranta, CFO
Slide 2: Agenda
Agenda 1) Key figures and main events ® Financial development ramrorce ELECTRIC SNOW . . ‘SHOVEL 20V + @) Outlook for financial year 2024 & | io ata 4.) Q&A a COME AND GET IT? PUUILO | BUSINESS REVIEW 03/2024 2
Slide 3: Q3 2024 key figures and main events
▪ One new store was opened during the period (Oulu Net sales Gross margin Karjasilta) ▪ Growth in customer traffic continued in both new and old stores. The increase in number of customers was the Like-for-like net sales EBITA margin (adj.) main driver of sales growth ▪ Like-for-like sales growth wa
Slide 4: Nine-month key figures and main events
▪ Five new stores were opened during the period (Nokia, Net sales Gross margin Ylöjärvi, Forssa, Tampere Lahdesjärvi and Oulu Karjasilta) ▪ The increase in customer traffic was the main driver of Like-for-like net sales EBITA margin (adj.) sales growth. Strong growth in customer traffic continued in
Slide 5: Financial development
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Slide 6: Net sales and customer traffic development
▪ Net sales increased by 10.8%. Like-for-like store net sales decreased by -0.4% ▪ The customer traffic increased in like-for-like stores by approx. 2.5% ▪ Customer traffic increased by approx. 14.7% in all stores ▪ The average basket size decreased by approx. 3.4% ▪ Net sales increased by 13.8% and
Slide 7: Gross margin increased
▪ Gross margin increased to 38.0% of net sales ▪ Margin improvement was driven by a favourable sales mix and sales growth in private label products ▪ Prior year comparison period gross margin was negatively affected by the one-off inventory adjustment made at that time. The impact of this adjustment
Slide 8: Adjusted EBITA increased
▪ Adjusted EBITA increased by 4.4 M€ ▪ Relative profitability was 19.2% of net sales, increasing from the comparison period ▪ Good gross margin and cost control were the drivers behind profitability growth ▪ In relative terms, personnel expenses were below the comparison period ▪ Adjusted EBITA incr
Slide 9: Inventories amounted to 108.2 M€
▪ Inventories amounted to 108.2 M€ ▪ The increase in absolute inventory level is primarily due to the inventories of seven new stores ▪ In addition, the volume of private label products increased ▪ Q3 2023 inventory level was affected by the excess inventory reduction done at that time ▪ Puuilo aims
Slide 10: Operating free cash flow
▪ Operating free cash flow was 10.0 M€ ▪ Operating free cash flow was supported by strong profitability. New store openings increased absolute inventory level, which tied up capital ▪ Puuilo continued to increase the import of private label products in line with the current strategy ▪ Cash generatio
Slide 11: Net debt and long-term loans
▪ The ratio of net debt to adjusted EBITDA is in line with the long-term target (below 2.0x) ▪ The ratio of net debt to adjusted EBITDA excluding the impact of IFRS 16 was 0.4x ▪ Puuilo’s long-term loans from financial institutions were 50.0 M€ (50.0 M€) at the end of the period ▪ Net debt excluding
Slide 12: Key figures summary for Q3 and January–September
▪ Net sales increased by 10.8% (+15.4%) and were EUR 102.2 million (92.3) ▪ Like-for-like store net sales decreased by 0.4% (+5.3%) ▪ Online store net sales decreased by -0.8% (-10.3%) ▪ Gross profit was EUR 38.9 million (33.2) and gross margin was 38.0% (36.0%) ▪ Adjusted EBITA was EUR 19.7 million
Slide 13: Outlook for financial year 2024
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Slide 14: Outlook for financial year 2024
Puuilo repeats the outlook for the financial year 2024 given in its half- year report on 12 September 2024. The company forecasts that net sales will be EUR 380 – 400 million and the adjusted operating profit (adjusted EBITA) in euros will be EUR 60 – 66 million in the financial year 2024. The outlo
Slide 15: Upcoming store openings
▪ Kirkkonummi, opens in January ▪ Savonlinna, opens in March 2025 ▪ Varkaus, opens in March 2025 ▪ Lohja, opens during spring of 2025 ▪ Mäntsälä, opens during summer of 2025 ▪ Jyväskylä Keljo, opens during summer of 2025 ▪ ... Two additional new stores, of which we will provide more information late
Slide 16: Q&A
Q&A Contact requests: ir@puuilo.fi investors. puuilo.fi NEXT FINANCIAL REPORTS AND EVENTS 27 March 2025 Financial Statements Release 2024 10 June 2025 Business review Q1/2025 Tl September 2025 Hi Financial Report 2025 10 December 2025 Business review Q3/2025 PUUILO | HALF-YEAR FINANCIAL REPORT, FEBR