Byggmax Group Ab · OMXSTO:BMAX
Byggmax Group Ab — Q3 2010 Earnings Presentation
21 slides from Byggmax Group Ab's earnings presentation, Oct 25, 2010
Slide 1: Interim report, January-September 2010
Interim report, January- September 2010 October 25, 2010 Magnus Agervald and Pernilla Walfridsson
Slide 2: Summary, January-September, 2010
Byggmax Summary, January- September, 2010 In Q3 sales increased by 16 percent and profit before tax by 28 percent • Q3 net sales SEK 1,043.2 M (896.5) and SEK 2,223.9 M (1,929.4) in the first nine months. • Q3 EBIT SEK 165.4 M (145.6) and SEK 236.9 M (234.9) in the first nine months. • Excluding lis
Slide 3: Summary, January-September, 2010
Byggmax Summary, January- September, 2010 • Twelve (seven in 2009) new stores were opened. – In the first quarter, two (zero) stores were opened : Lahtis (Finland) and Haugesund (Norway). – In the second quarter, five (one) stores were opened: Partille, Trollhättan, Karlshamn, Värnamo (Sweden) and F
Slide 4: Stores – more openings in Sweden are being planned for 2011
Byggmax Stores – more openings in Sweden are being planned for 2011 Following establishments has been announced Avesta and Lidköping in Sweden and Björneborg and Borgå in Finland. Number of stores 73 61 54 43 Finland 35 Norway Sweden 25 27 19 12 13 9 10 8 3 3 3 4 5 1993 1994 1995 1996 1997 1998 1999
Slide 5: Successful marketing campaign
Byggmax Successful marketing campaign “Hottest Retail Brand” • In their annual survey, Market magazine and GfK named Byggmax the “Hottest Retail Brand” in Sweden. • The Byggmax brand has strengthened its position most during the past year. “Byggmax’s advertising campaign most effective” • Byggmax ha
Slide 6: Continued strong position among Swedish home owners
Byggmax Continued strong position among Swedish home owners “Where are you planning to buy your • Byggmax continues to hold a strong building material?” position among Swedish home owners, Answer: Byggmax (percent of answers) according to a building report commissioned by “Vi i Villa” magazine 53 •
Slide 7: Expanded web range expected to commence in Q4, market launch in the spring
Byggmax Expanded web range expected to commence in Q4, market launch in the spring Product turnover Web products are a cost-efficient way for Byggmax to broaden its range. The product range will be broadened (more categories) and deepened (more products in existing categories) Store Web Number of go
Slide 8: Financial objectives and dividend policy
Byggmax Financial objectives and dividend policy • Byggmax’s financial objectives are: – More than15 percent growth per year – An EBIT margin of more than 11 percent • Dividend policy – Dividend corresponding to not less than 50 percent of the preceding year's netprofit
Slide 9: Financial information
Financial information October 25, 2010
Slide 10: Earnings trend
Byggmax Earnings trend • Net sales increased with 16.4 percent during Q3 and increased with 15.3 percent during the first nine months, attributable to new store openings and increased sales in existing stores. • The gross margin is in line with the corresponding period in the preceding year. • Overh
Slide 11: Earnings trend (excluding listing costs)
Byggmax Earnings trend (excluding listing costs) • Non-recurring costs in the form of listing costs during the first nine months were SEK16.7 M. Listing costs had a negative impact on the earnings in Q1 and Q2. • The EBIT margin for the first nine months is lower than the year-earlier period, which
Slide 12: Sales trend
Byggmax Sales trend • The operation’s Q3 net sales were SEK 1,043.2 M (896.5) +16.4 percent, and SEK 2,223.9 M (1,929.4) +15.3 percent in the first nine months. • Q3 net sales for comparable stores were +5.4 percent in local currency, and +4.2 percent for the first nine months. • Q3 net sales in Swe
Slide 13: Gross margin
Byggmax Gross margin Q3 • The gross margin was 30.3 percent (30.2) The first nine months • The gross margin was 29.7 percent (29.8) in the first nine months. • The gross margin was positively impacted by improved purchasing work, but negatively by the 2009 rise in timber prices and that the price in
Slide 14: Operating expenses
Byggmax Operating expenses Personnel costs 159,6 Q3 132,5 • Personnel costs and other operating expenses rose by a total of SEK 23.1 M. • This is mainly due to expenses (SEK 22.1 M) for stores that were opened 61,0 after the third quarter of 2009. 52,1 2009 The first nine months 2010 • Personnel cos
Slide 15: Financial position and cash flow
Byggmax Financial position and cash flow • Cash flow from operating activities for Q3 deteriorated by SEK 27.6 M compared with the year-earlier period and improved for the first nine months by SEK 49.7 M • The deterioration during Q3 was mainly due to lower accounts payable, which was partly the res
Slide 16: Financial statements in summary January – September 2010
Financial statements in summary January – September 2010 October 25, 2010
Slide 17: Income statement
Byggmax Income statement October 2010 17
Slide 18: Balance sheet
Byggmax Balance sheet October 2010 18
Slide 19: Cash flow statement
Byggmax Cash flow statement October 2010 19
Slide 20: Cash flow statement, continued
Byggmax Cash flow statement, continued Note that cash and cash equivalents in the cash flow are adjusted for restricted bank funds. October, 2010 20
Slide 21: Largest shareholders, September 30, 2010
Byggmax Largest shareholders, September 30, 2010 The ten largest shareholders Number of Name/Address shares Holding (%) ALTOR 2003 GP 21 720 908 35,76% ZAMGATE INVESTMENTS (Stig Notlöv) 3 078 042 5,07% ROBUR 2 680 441 4,41% SCHRODER 2 563 786 4,22% 31/7 2010 JARRTON MANAGEMENT (Göran Peterson) 2 381