Slide 1: CDON Group Second Quarter and First Six Months 2014
CDON GROUP SECOND QUARTER AND FIRST SIX MONTHS 2014 PAUL FISCHBEIN, PRESIDENT AND CEO NICOLAS ADLERCREUTZ, CFO
Slide 2: Highlights
Highlights • Sales growth of 16% and a break-even result in Q2 • All segments showed sales growth • Strong growth within Sports & Health and Fashion segments • Operating cash flow amounted to 72 MSEK in Q2 • Test launch of in-house payment solution Qliro • Operations in Rum 21 were divested during Q
Slide 3: Financials
FINANCIALS 3
Slide 4: Summary of Q2
Summary of Q2 Entertainment Fashion Sport & Health Home & Garden Q2 14 Q2 13 Q2 14 Q2 13 Q2 14 Q2 13 Q2 14 Q2 13 Q2 14 Q2 13 Net sales (mn) 439.5 410.5 293.4 239.2 196.6 156.3 182.1 153.0 1,110.9 958.5 Growth yoy 7% -12% 23% 20% 26% 34% 19% 5% 16% 4% Sales share 40% 43% 26% 25% 18% 16% 16% 16% 100%
Slide 5: Income Statement
Income Statement Adjusted for divested entities and non-recurring items 2014 2013 2014 2013 • Net sales, excluding divested operations were (SEK million) Apr-Jun Apr-Jun Jan-Jun Jan-Jun up 16% Net Sales 1,110.9 958.5 2,244.0 1,990.9 Gross profit 182.6 149.4 351.1 294.8 • Gross margin amounted to 16.
Slide 6: Cash Flow
Cash Flow 2014 2013 2014 2013 • Consolidated cash flow from operating (SEK million) Apr-Jun Apr-Jun Jan-Jun Jan-Jun activities improved to SEK 2.5 (-6.3) million Cash flow from operating activities 2.5 -6.3 5.2 -68.4 • Cash flow from operations improved by Changes in working capital 69.7 42.3 -100.7
Slide 7: Financial Position
Financial Position 2014 2013 (SEK million) 30-Jun 30-Jun • Inventory levels increased by around 3% to Total non-current assets 744.0 687.5 SEK 568.3 (550.1) million Inventories 568.3 550.1 Total receivables 173.8 182.4 • Cash and cash equivalents amounted to SEK Cash and cash equivalents 230.1 327.2
Slide 8: Business Segments
BUSINESS SEGMENTS 8
Slide 9: Entertainment
Entertainment Operating development • The segment accounted for 40% of total Group sales in the quarter 1,000 941 923 1.0% 800 0.4% 0.0% • Segment sales increased by 7% in the second SEK (million) 600 -1.0% Margin quarter 439 410 400 -2.0% -1.8% • CDON.com continued to experience a decline 200 -2.7%
Slide 10: Fashion
Fashion Operating development • The segment accounted for 26% of total Group sales in the quarter 600 2.0% 514 500 444 1.0% 1.3% • Segment sales increased by 23% in the second 400 0.4% 0.0% SEK (million) Margin quarter 293 300 239 -1.0% 200 -1.4% -2.0% • Product margin of 49% 100 -3.0% 4 1 -2.9% 0 -
Slide 11: Sports & Health
Sports & Health Operating development • The segment accounted for 18% of total Group sales in the quarter 450 427 10.0% 400 9.0% 9.5% 350 8.7% 333 8.0% • Segment sales were up 26% in the second 8.3% 7.0% SEK (million) 300 Margin quarter 7.1% 6.0% 250 197 5.0% 200 156 4.0% • Sales of private label pr
Slide 12: Home & Garden
Home & Garden Operating development • The segment accounted for 16% of total Group sales in the quarter 400 2.0% 363 350 1.5% 300 296 1.0% • Segment sales grew 19% in the second quarter SEK (million) 250 0.7% 0.5% Margin 0.6% 200 182 0.3% 0.0% • Operating profit increased as a result of 150 153 -0.5
Slide 13: Forward looking statement
Forward looking statement • Deliver a balanced sales growth and increased market shares, especially in the in the segments Sports & Health and Fashion • Continue to focus on underlying earnings improvement • CDON.com will during 2014 continue to invest in the transformation to become the leading Nor
Slide 14: Thank You!
THANK YOU! Next report: 22 October 2014 For further information, please visit cdongroup.com Follow us on Twitter at or contact ir@cdongroup.com, +46 (0) 10 703 20 00 twitter.com/cdongroup