Duell Oyj · OMXHEX:DUELL
Duell Oyj — FY2022 Earnings Presentation
15 slides from Duell Oyj's earnings presentation, Nov 10, 2022
Slide 1: Duell Corporation Financial Report September 2021 - August 2022 and Fourth Quarter
Duell Corporation Financial Report September 2021 - August 2022 and Fourth Quarter November 10, 2022 Jarkko Ämmälä, CEO Riitta Niemelä, CFO Pellervo Hämäläinen, IR 1
Slide 2: A leading Nordic and European powersports aftermarket distributor
A leading Nordic and European powersports aftermarket distributor 124 M€ (77) +61.5% Tampere NET SALES NET SALES GROWTH DUELL’S ESTABLISHED MARKETS 9/2021–8/2022 9/2021–8/2022 DUELL’S GROWTH MARKETS Frölunda 7.0% (10.5) Adjusted EBITA 9/2021–8/2022 Veghel, Deventer SALES OFFICE Key figures* WAREHOUS
Slide 3: All powersports accessories from motorbikes to marine
All powersports accessories from motorbikes to marine
Slide 4: We cover all fields of powersports products
We cover all fields of powersports products: apparel, accessories, and parts of ATV/UTV, bicycle, marine, offroad and onroad motorcycles as well as snowmobile. TECHNICAL AND SPARE PARTS 2/3 PERSONAL EQUIPMENT 1/3 Break/clutch handling Tires Shock absorbers Helmets Motorcycle boots Protective wear En
Slide 5: Strong presence in all dealer channels
Strong presence in all dealer channels Sales split by customer type E-commerce Retailers Specialty shops % 25% of net 75% Repair and spare parts shops sales Powersports equipment manufacturers
Slide 6: Q4 and full year 2022 business report
Q4 and full year 2022 9/2021-8/2022 Business report 6
Slide 7: Q4: Strong growth with fluctuating customer demand
Q4: Strong growth with fluctuating customer demand • 19.2% organic growth driven Net sales grew by European growth strategy by 79.6% • Integration of the acquisitions proceeding as planned EBITA increased • Adjusted EBITA margin 5.1% (8.5%) by 26.6% • Gross margin 21.4% (22.8%) • Impact of increasin
Slide 8: Net sales grew by 61.5% and adjusted EBITA improved in 9/2021-8/2022
Net sales grew by 61.5% and adjusted EBITA improved by 8.5% in 9/2021-8/2022 FY 2022 FY 2021 Q4 2022 Q4 2021 Key figures and ratios (9/2020- (9/2021- (6/2022- (6/2021- EUR thousand • A year of growth in an 8/2022) 8/2021) 8/2022) 8/2021) uncertain market Net sales 123,991 76,756 34,636 19,369 Net sa
Slide 9: Seasonality is typical in Duell's sales by quarters
Seasonality is typical in Duell's sales by quarters Quarterly adjusted EBITA, EUR million Qarterly net sales development, EUR million and adjusted EBITA, % margin 35.1 34.6 13.4% 11.5% 27.2 27.1 24.5 8.5% 8.6% 7.2% 7.7% 19.4 15.7 17.2 6.8% 5.1% 3.3 3.0 1.9 2.0 2.1 1.6 1.8 1.1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Slide 10: Increased uncertainty in the operating environment continued
Increased uncertainty in the operating environment continued External factors Focus in 2023 • The market uncertainty caused by COVID-19 pandemic • Continue European growth strategy will continue • Optimising inventory levels • Supply chain challenges improved towards end • Cost efficiency program of
Slide 11: Outlook for financial year 2023
Outlook for financial year 2023 • The market continues to be uncertain. The accelerating inflation and the overall economic environment have decreased consumer confidence. These factors will reduce predictability. Duell will continue to execute its growth strategy despite uncertain market conditions
Slide 12: Duell medium-term financial targets (changed)
Duell medium-term financial targets (changed) Target Description Latest audited report “Net sales between €200-300m by the end of 2025, achieved through with yearly growth organically and Net sales of inorganically” Net sales Growth FY 2022 €200–300m (The growth target remains unchanged, but the par
Slide 13: Strategic objectives and cornerstones
Strategic objectives and cornerstones Strategic cornerstones and related Key strategic objectives achievements • Geographical market expansion • To become the best partner • Entry new markets organically and with for dealers and brand acquisitions strengthening the position owners throughout Europe
Slide 14: Four important acquisitions to drive market expansion
Four important acquisitions to drive market expansion PORTFOLIO OF PORTFOLIO OF DEAL HIGHLIGHTS ATTRACTIVE BRANDS DEAL HIGGLIGHTS ATTRACTIVE BRANDS PowerFactory Nordic Oy Ab, May 2022 Techno Motor Veghel B.V, February 2022 • Srong bicycle position in • Strong offroad position in Benelux, also in the
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