Slide 1: Net sales grew by 15 per cent in a challenging market situation
NET SALES GREW BY 15 PER CENT IN A CHALLENGING MARKET SITUATION Fodelia Oyj – Half-year financial report August 19, 2020 CEO Mikko Tahkola
Slide 2: Agenda
1 January-June 2020 2 Financial development 3 Fodelia’s strategy and financial targets 4 Questions
Slide 3: We help build a sustainable future for the Finnish food industry
We help build a sustainable future for the Finnish food industry by offering clean, local and responsibly produced food.
Slide 4: January-June 2020
1/4 January-June 2020 Fodelia Group was created through stock exchanges on 9 August 2019. In addition to the Group's 1–6/2020 figures, this report presents pro forma financial data, which describes the development of the Group's business operations. The figures presented in the report are unaudited.
Slide 5: January-June 2020
1 2 3 January–June 2020 4 January-June 2020 • The Group's net sales increased by 15% while Fodelia Oyj Pro forma Pro forma the market fell sharply due to COVID-19 TEUR 1-6/2020 1-6/2019 Change-% 1-12/2019 restriction measures. Net sales 10,560 9,184 14.98 19,661 EBITDA 723 1 159 -37.65 2,383 • The m
Slide 6: The impacts of the COVID-19 pandemic
1 2 3 The impacts of the COVID-19 pandemic 4 • The report period was influenced by the restrictive measures imposed to curb the spread of January-June 2020 COVID-19, which have had a strong impact on the foodservice market. • Foodservice wholesale net sales decreased by 19% in January–June and by as
Slide 7: Municipal savings are expected to create new demand for food services
1 2 3 Municipal savings are expected 4 to create new demand for food services January-June 2020 The market for public sector food services School meals • Number of customers: around 1.75 million customers per day • Number of meals: 368 million meals per school year (10 months) • Market size: 283 mil
Slide 8: Fodelia's solutions for public food services
1 2 3 Fodelia’s solutions for public food services 4 January-June 2020 1 Single products from Feelia 2 Outsourcing food preparation to Feelia 3 Outsourced service including food and staff from Fodbar Finnish vitality and growth
Slide 9: Fodbar is the answer to managing municipal food services
1 2 3 Fodbar is the answer to managing municipal food services 4 • Fodelia has set up a joint venture with Bravedo Oy to offer January-June 2020 municipalities, cities and private companies an easy and cost-effective all-in-one solution for outsourcing food services Current model of municipal food s
Slide 10: Investments to increase production
1 2 3 Investments to increase production 4 • Fodelia Group invests heavily in increasing production January-June 2020 capacity and automation of production operations in order to boost growth. • Fodelia has started investments totalling approximately EUR 6 million in Feelia and Real Snacks factories
Slide 11: There is a high demand for special diet products on the market
1 2 3 There is a high demand for special diet products on the market 4 Raw materials January–June 2020 • The aim is to use simple raw materials and exclude the most common allergens. This makes it easier to combine products. Size of the market • On average, the share of individual diets is about 6–8
Slide 12: Investments in e-commerce sales
1 2 3 Investments in e-commerce sales 4 January–June 2020 Finnish vitality and growth
Slide 13: Real Snacks
Real Snacks Tasty snacks and potato crisp products
Slide 14: Strong growth in private label products
1 2 3 Strong growth in private label 4 products January–June 2020 • Real Snacks Oy's net sales grew by 6.8% during the report period. • Net sales of private label products grew substantially. On the other hand, net sales of own Key figures / Real Snacks brands decreased due to the situation brought
Slide 15: Feelia
Feelia Responsibly produced pre-cooked foods
Slide 16: Net sales grew in a declining market due to strong e-commerce growth
1 2 Net sales grew in a declining 3 4 market due to strong e-commerce growth • Feelia's net sales increased by 10.3% and including Beofood January–June 2020 Oy's net sales by 24.4%. • A significant share of Feelia's net sales growth came from strong development in e-commerce sales. Key figures / Fee
Slide 17: Financial development
2/4 Financial development Fodelia Group was created through stock exchanges on 9 August 2019. In addition to the Group's 1–6/2020 figures, this report presents pro forma financial data, which describes the development of the Group's business operations. The figures presented in the report are unaudi
Slide 18: Net sales
1 2 3 Net sales 4 Financial development 25 20 6,8 15 MEUR 6,0 10 5,8 3,5 3,3 5,1 12,9 5 9,4 7,4 5,9 5,9 4,3 0 2016 2017 2018 2019 1-6/2019 1-6/2020 Feelia&Beoofood Real Snacks Finnish vitality and growth
Slide 19: EBIT
1 2 3 EBIT 4 Financial development 2500 2000 430 1500 281 TEUR 1000 1 593 229 235 1 326 294 500 139 705 440 495 426 0 2016 2017 2018 2019 1-6/2019 1-6/2020 Feelia&Beofood Real Snacks Finnish vitality and growth
Slide 20: Key figures
1 2 3 Key figures 4 Financial development Group Fodelia Oyj Pro forma Pro forma 1–6/2020 1–6/2019 Change % 1–12/2019 Net sales 10,560 9,184 14.98 19,661 EBITDA 723 1,159 -37.65 2,383 % of net sales 6.8 12.6 12.1 EBIT 283 899 -68.55 1,811 % of net sales 2.7 9.8 9.2 Profit for the period 185 669 -72.4
Slide 21: Fodelia's strategy and financial targets
3/4 Fodelia’s strategy and financial targets
Slide 22: Vitality to the Finnish food industry
1 2 Vitality to the Finnish food industry 3 4 MARKET TRENDS MISSION VISION STRATEGY Fodelia as an investment Cost pressures of food production Ownership and long-term in professional kitchens development of viable food Supporting the profitable industry companies while growth of group companies in W
Slide 23: Targets
1 2 3 4 Targets Fodelia as an investment Key objectives for the implementation of the strategy Mid-term financial targets Average annual net sales increase of Growing Feelia’s business in Finland across all customer concepts, particularly in municipal food Expanding Feelia’s business operations in t
Slide 24: Forecast for 2020
1 2 3 Forecast for 2020 4 Fodelia as an investment The company maintains the previously published forecast and expects the Group's net sales to grow by 20–30% in the financial year 2020 compared to pro forma net sales in the period 1–12/2019. EBIT is estimated to be approximately 7–10% of net sales.
Slide 25: Share price development
Fodelia as an investment 4 3 2 1 4,00 5,00 6,00 7,00 8,00 9,00 10,00 11,00 26.11.2019 3.12.2019 11.12.2019 18.12.2019 30.12.2019 9.1.2020 16.1.2020 23.1.2020 30.1.2020 6.2.2020 13.2.2020 20.2.2020 27.2.2020 5.3.2020 12.3.2020 19.3.2020 26.3.2020 2.4.2020 9.4.2020 20.4.2020 27.4.2020 5.5.2020 12.5.20
Slide 26: Largest shareholders as of June 2020
1 2 3 4 Largest shareholders as of 30 June 2020 Number of Percentage Shareholder Number of Percentage Shareholder Fodelia as an investment shares of shares shares of shares 1. Tahkola Mikko Kalervo 2,195,739 31.14 11. Takoa Invest 93,024 1.32 2. Ojala Jukka Matti 1,078,656 15.30 12. Winduo Oy 83,323
Slide 27: Fodelia's strengths
1 2 3 4 Fodelia’s strengths Fodelia as an investment 1 2 Business operations in growing Excellent track record of strong markets and excellent position and profitable growth: Feelia and in relation to market trends and Real Snacks have together customer needs. enjoyed an average annual growth of 28
Slide 28: Q&A
Q&A
Slide 29: Thank you!
Kiitos! Thank you! mikko.tahkola@fodelia.fi