Nobia Ab · OMXSTO:NOBI
Nobia Ab — Q4 2021 Earnings Presentation
17 slides from Nobia Ab's earnings presentation, 2022
Slide 1: Q4 2021 Results Presentation
Q4 2021 Results Presentation Jon Sintorn, CEO Kristoffer Ljungfelt, CFO
Slide 2: Highlights 2021
Highlights 2021 • Nordic EBIT exceeding SEK 1 Bn − Strong growth in retail − Solid order book going into 2022 • Central Europe stable over 10% margin − Successful Bribus integration − Austria turn around completed • UK back to profits and further improvements initiated − High market volatility due t
Slide 3: Highlights Q4
Highlights Q4 • Net sales increased to SEK 3,509m (3,450) − Organic growth 3% adjusted for Benchmarx exit − Strong growth in Nordic region − Slow recovery of project and retail in UK • Cost inflation compensated by higher average order values • Product availability remains challenging but improved •
Slide 4: Kitchen market development
Kitchen market development Nordic market: solid housing markets and consumer confidence continues to support retail sales. Project demand slightly up. UK: Trade segment growing, while retail/consumer flat. London project market and social housing remain weak. Central Europe: good underlying demand b
Slide 5: Tomorrow Together Strategy - priorities
Tomorrow Together Strategy - priorities Sustainability and Design Leadership ambition: Growth Acceleration initiatives: Leading the industry through reduced environmental • Catapult trade growth footprint and beautiful and purposeful design • Revitalise consumer retail • Reinforce project leadership
Slide 6: Targeting profitable growth in the UK
Targeting profitable growth in the UK • Increased focus on the Magnet brand • Exit unprofitable business and focus on long-term partners • Review the project business 6
Slide 7: New factory in Jönköping
New factory in Jönköping • Site preparation, piling and casting of foundations • The first section of the production building is under construction • Production equipment ordered 7
Slide 8: Acquisition of Superfront
Aquisition of Superfront • European online kitchen and storage brand • Digital marketing and social media presence • Frontals, handles and legs etc., with high design content and upcycling business model • Turnover SEK ~65m with double‐digit margin • Expansion potential as part of Nobia Group 8
Slide 9: Nobia Group, Q4
Nobia Group, Q4 • Organic net sales were flat for the Group and mixed between regions 2020 2021 Q4 Q4 – 11% up in Nordics – 14% decline in the UK Net sales (SEKm) 3,450 3,509 – Minor decline in Central Europe Organic growth, (%) 5% 0 • EBIT declined to SEK 238m (295) • EBIT margin amounted to 6.8% (
Slide 10: Direct material pricing impact update
Direct material pricing impact update • Upward pressure on direct material cost and Packaging & components continuing Chemicals Joinery 5% 5% • Availability improving, although supply chain Appliances remains demanding Frontals 28% 14% • Pricing to customers adjusted, full effect as expected from Q1
Slide 11: Group by country UK by segment
Net sales, rolling 12 months Group by country UK by segment Netherlands Austria 6% 5% Finland 6% Magnet Magnet UK Trade Norway Retail 36% 30% 10% 28% Sweden Magnet 14% Other 24% Project 15% Denmark 23% Benchmarx 3% 11
Slide 12: Nordic region, Q4
Nordic region, Q4 • Organic net sales increased 11% 56% of Q4 Group sales – Denmark and Sweden driving growth 2020 2021 • Gross margin decline due to supply chain Q4 Q4 cost inflation Net sales (SEKm) 1,767 1,974 • Higher average order values and favorable mix due to strong retail development Organi
Slide 13: UK region, Q4
UK region, Q4 • Organic net sales down 14% 34% of Q4 Group sales – 8% decline excl. discontinued Benchmarx – Growth in Magnet trade, whilst retail softer 2020 2021 Q4 Q4 – Weakness in London projects and social housing • Price increases and segment mix behind gross Net sales (SEKm) 1,304 1,172 margi
Slide 14: Central Europe region, Q4
Central Europe region, Q4 • Organic net sales declined 3% 10% of Q4 Group sales – Continued healthy demand, however unfavourable customer mix as social housing grew 2020 2021 – Corona-related impact Q4 Q4 • EBIT and margin lower in comparison to last Net sales (SEKm) 379 363 year’s exceptionally str
Slide 15: Financial position
Financial position Cash flow 2020 2021 Q4 Q4 Operating cash flow 396 -2 • Operating cash flow of SEK -2m (396) Of w. operating profit 151 238 – Cash flow from operating activities in line with prior year Of w. change in working capital 111 194 – Investment in fixed assets due to the new factory in J
Slide 16: Going forward
Going forward • Solid orderbooks going into 2022 • Building momentum in UK; − Secure strong winter retail sales campaign − Continue to invest in trade segment − Review of project business • Manage material pricing and availability • Continue investment in the new Nordic factory • Strong balance shee
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