Elon Ab · OMXSTO:ELON
Elon Ab — Q3 2024 Earnings Presentation
16 slides from Elon Ab's earnings presentation, Nov 13, 2024
Slide 1: Q3 Report 2024 Elon AB
2024-11-13 Q3 REPORT | 2024 Elon AB Stefan Lebrot CEO Peter Brodén CFO
Slide 2: Financial strength and foundation for future growth
Q3 REPORT 2024 Financial strength and foundation for future growth Financials • Stronger Group gross margin • with stronger in-store gross margin • Improved quarter operating profit • Reduced operating expenses excl mktng Achievements • Consolidation of retail • Positive effects from new product off
Slide 3: Net sales
Q3 REPORT | 2024 Net sales TURNOVER MSEK -51 MSEK vs Q3-23 Elvita – Alta
Slide 4: Positive B2C growth reduced by declining B2B and L&S
Q3 REPORT | 2024 Positive B2C growth reduced by declining B2B and L&S GROWTH vs Q3-23 Elvita – Over-ear headphones Launch Q1 - 2024
Slide 5: Macro environment increases share of B2C
Q3 REPORT | 2024 Makro environment increase share of B2C > 25% sales through SMB and LCP BY BUSINESS AREA L&S 8% B2B 19% B2C 73% Share of Net Sales Q3-24 Elvita – Toaster
Slide 6: Growing in Nordic markets
Q3 REPORT | 2024 Growing in Nordic markets 20% from Iceland, Finland, Norway and Denmark BY COUNTRY 2% 4% 9% 80% 5% Share of Net Sales Q3-24
Slide 7: Improved Gross Margin
Q3 REPORT | 2024 Improved Gross Margin through positive channel and product mix GROSS MARGIN +1,1%pts vs Q3-23 through improved product and channel mix Elons chain concepts in the quarter maintained a in-store sales margin in line with Q3-23. Nordanro kitchen Launch - 2024
Slide 8: Less cost doing more
Q3 REPORT | 2024 Less cost doing more Synergies, efficiencies and cost control TOTAL COST REDUCTION MSEK R12m vs pre merge separate entites (fixed cost and marketing savings) Elvita – Alta
Slide 9: Stable quarter result and cash flow trend
Q3 REPORT | 2024 Stable quarter result and cash flow trend OPERATING PROFIT OPERATING CASHFLOW 17 MSEK 37 MSEK +2 MSEK vs Q3-23 -175 MSEK vs Q3-23 where deliveries and sales last year focused on Q3 and now in Q4 Elvita - vattenkokare
Slide 10: Seasonal trend
Q3 REPORT | 2024 Seasonal trend Sow in spring and harvest in autumn OPERATING PROFIT - QUARTERLY 80 60 63 40 37 34 29 20 21 MSEK 19 18 17 15 14 13 11 5 3 0 -15 -23 -24 - 20 -41 - 40 -49 - 60 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2020 2021 2022 2023 2024 Purchase of Market Adapt
Slide 11: Building scale
Q3 REPORT | 2024 Building scale Improved profit on slower market SALES AND OPERATING MARGIN 5 5 200 100 8,0% 5 4 000 4 900 4 800 700 4 4 600 500 4 719 4 888 4 748 7,0% 4 4 400 300 4 4 200 100 6,0% 4 3 000 900 3 3 800 3 700 3 600 500 5,0% 3 3 400 300 3 657 3 3 200 100 3 342 3 2 000 900 4,0% 2 2 800 7
Slide 12: Positive profit trend
Q3 REPORT | 2024 Positive profit trend Pricing and cost reductions mitigates negative macro effects OPERATING PROFIT - LTM 80 4,0% 60 2,0% 2,0% 1,8% 1,4% 1,1% 1,0% 1,0% 1,0% 0,9% 0,0% 0,8% 0,5% 0,3% 0,3% 40 0,1% -0,3% -0,4% -0,5% -2,0% MSEK 20 -4,0% 50 48 49 43 47 66 74 34 10 32 14 13 5 0 -6,0% -13
Slide 13: WC seasonal trend
Q3 REPORT | 2024 WC seasonal trend Stability in stock levels and future focus on account receivables WORKING CAPITAL - QUARTERLY 600 10,1% 8,9% 8,8% 8,4% 8,6% 10,0% 500 7,8% 514 7,1% 6,4% 6,5% 400 424 4,3% 5,0% 3,7% 3,2% 408 402 3,5% 3,0% 358 346 300 332 323 301 -0,4% 0,0% 200 209 100 132 130 117 10
Slide 14: Operating cash flow
Q3 REPORT | 2024 Operating cash flow Positive operating cash flow impacted by seasonality effects OPERATING CASH FLOW 300 232 200 166 173 212 135 133 131 196 155 111 100 70 80 72 70 57 25 93 65 3 55 2 43 33 37 MSEK 0 -60 -77 - 100 -120 -174 -174 - 200 -231 - 300 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q
Slide 15: Summary
Q3 REPORT 2024 Summary • Stable market footprint • Proven scalabillity • Stable profits and positive cash flow
Slide 16: @LON GROUP “er
@LON GROUP “er