Dexelance · MIL:DEX
Dexelance — Italian Design Brands — H1 2023 Earnings Presentation
19 slides from Dexelance's earnings presentation, Sep 11, 2023
Slide 1: Half-Year Financial Results as of 30 June 2023
HALF-YEAR FINANCIAL RESULTS AS OF 30 JUNE 2023 September 11, 2023 18.00 – 19.00 (CET)
Slide 2: Disclaimer
Disclaimer This presentation (the “Presentation”) has been prepared by Italian Design Brands S.p.A. (the “Company” and together with its subsidiaries, the “IDB Group”) for information purposes only. The Presentation does not, and is not intended to, constitute or form part of, and should not be cons
Slide 3: Presenters today
Presenters today Marella Moretti Andrea Sasso Giorgio Gobbi Alberto Bortolin Corporate Development Chief Executive Officer Managing Director Chief Financial Officer & IR Manager 3
Slide 4: IDB full half-year 2023 financial highlights
IDB full half-year 2023 financial highlights(1): thanks to Group virtuous balanced mix across channels and regions, growth and profitability remain solid and strongly positive wrt 2022 despite the expected Core HEDF market «normalization» Actual Revenue Full Revenue(2) € 135,4 mln € 138,4 mln +58,5%
Slide 5: IDB Furniture brands attended Salone del Mobile
IDB Furniture brands attended Salone del Mobile: ~300.000 visitors (+15% wrt 2022), with foreign clients finally getting back to Italy after 2 years of Covid restrictions Samet modular sofa, Sisters chairs, Federica Biasi Rodolfo Dordoni Hashi outdoor collection, Federica Biasi Bowie chair, This Web
Slide 6: All brands presented multiple new products
All brands presented multiple new products, supporting the launches with online campaigns and different marketing activities Vela sofa, Space modular sofa, Zanellato/Bortotto Gamma Collection ↘ Discover Vela’s emotional campaign Metis modular sofa, Vincent sofa, Nicola Pavan Dandy Collection 6
Slide 7: Meridiani opened a new monobrand store in Milan
Meridiani, in conjuction with Salone, opened a new refined monobrand store in the core of the Milan fashion district, hosted in a prestigious historic building of the early ‘900 Oscar collection, Andrea Parisio Italo table, Andrea Parisio NEW Meridiani Flagship Store Nora armchair, Via Manzoni 38 –
Slide 8: Davide Groppi, Axolight and Flexalighting attended Euroluce
Davide Groppi, Axolight and Flexalighting attended Euroluce, the first lighting trade fair after 2019 edition - last one before the pandemic Post Prandium, Vis à Vis, Bulbo Mini, Davide Groppi Michele Groppi Lodovico Gabetti e Fabrizio Pellegrino Paralela lighting system, Nahtrang Studio Nuit, Mauri
Slide 9: Commercial initiatives abroad to enhance brand visibility
IDB companies keep also investing in commercial initiatives abroad to enhance brand visibility, attract new investors to fuel branded spaces and increase sales penetration IDB@Design Shanghai 2023 with Meridiani, Davide Groppi and Gervasoni NEW Davide Groppi monobrand store “Spazio Esperienze” in Se
Slide 10: IDB launches IDB FOR ARTS
IDB launches IDB FOR ARTS, a new project aiming to promote the dialogue between art and design and their harmonious synergy IDB FOR ARTS is a testament to the strong bond that binds the excellence of IDB brands to art. A path to embrace the different souls of the companies to iconic works of art and
Slide 11: Full half-year 2023 Financial Results
Full half-year 2023 Financial Results: double-digit organic revenue growth wrt 2022(1) and EBITDA Margin +2,2 p.p., mostly driven by operating leverage in Luxury Contract Organic Total +12,8% +40,8% EUR thousands FH1 22 (1) % FH1 23 (2) % 138,4 Revenue 98.261 100,0% 138.360 100,0% 27,5 98,3 Other in
Slide 12: Detailed revenue analysis - 1/3 by SBA
Detailed revenue analysis(1) - 1/3 Breakdown and bridge by SBA – EUR Mln Furniture Lighting Luxury Contract Kitchen&Systems Total +29,4% • Despite the challenging Core HEDF market environment, IDB recorded a slowdown only in Furniture. -13,1% +0,6% +32,3% • Strong growth for Luxury Contract, thanks
Slide 13: Detailed revenue analysis - 2/3 by Channel
Detailed revenue analysis(1) - 2/3 Breakdown and bridge by Channel – EUR Mln Retail Hard Contract Soft Contract Total • Soft Contract recorded strong organic growth both in Furniture and Lighting. +29,4 % +32,1 % +32,3 % +12,2 % • Hard Contract remains strong thanks to Luxury Contract 72,4 performan
Slide 14: Detailed revenue analysis - 3/3 by Region
Detailed revenue analysis(1) - 3/3 Breakdown and bridge by Region – EUR Mln Europe Italy North Greater ROW Total (excluding Italy) America China • Growth in ROW pulled by Middle East, thanks to +29,4% Furniture and Lighting performance as well as many new Luxury Contract projects in the area. +47,6%
Slide 15: Full half-year 2023 key numbers by SBA
Full half-year 2023 key numbers by SBA(1): Furniture and Lighting increase investments in commercial activities, while Luxury Contract benefits from significant revenues growth Adj. EBITDA Breakdown and bridge by SBA – EUR Mln Furniture Lighting Luxury Contract Kitchen&Systems Total(2) -22,6% -13,9%
Slide 16: Capex remains low and provides strong cash conversion
Capex remains low (~2% of revenue) and provides for strong cash conversion, temporarily absorbed by NWC requirements due to Luxury Contract seasonality in cash generation Net Working Capital - EUR Mln Operating Capex - EUR Mln 80,0 H1 22 Full FY 22 H1 23 FY 22 60,0 3,7 31,3 40,0 31,3 27,4 24,6 2,7 2
Slide 17: Full half-year 2023 order intake
Full half-year 2023 order Intake(1): sustained Luxury Contract intake balances the overall flattish trend for residential SBAs YTD Order Intake by SBA - EUR Mln +6,8% +34,9% Organic Total 151,7 112,5 FH1 22 FH1 23 Furniture Lighting Luxury Contract Kitchen & Systems (1) Full H1 2022 data prepared in
Slide 18: 2023 Financial calendar: next key dates
2023 Financial calendar: next key dates 23 May Approval of the Interim Financial Information as of 31 March 2023 11 September Approval of the Half-year Financial Report as of 30 June 2023 13 November Approval of the Interim Financial Information as of 30 September 2023 18
Slide 19: Q&A Session
Italian Design Brands
Italian Design Brands — H1 2023 Earnings Presentation on 6ix