Anora Group Oyj · OMXHEX:ANORA
Anora Group Oyj — Q2 2023 Earnings Presentation
24 slides from Anora Group Oyj's earnings presentation, Aug 25, 2023
Slide 1: Q2 23 Results presentation
Q2 23 Results presentation CEO Pekka Tennilä CFO Sigmund Toth 25 August 2023
Slide 2: Today's agenda and speakers
Today’s agenda and speakers • Business review • Financial review • Q&A • Closing remarks CFO Sigmund Toth CEO Pekka Tennilä Q2 2023 Result presentation | 25 August 2023 | 2
Slide 3: Growth in sales through Globus Wine, decline in profitability
Business Review In Q2, Growth in sales through Globus Wine, decline in profitability due to currency impact and increased input costs Net sales, Net sales excl. Globus Wine Comparable EBITDA, EUR million EUR million EUR million 182.7 158.5 13.0 (165.7) (18.9) Profitability declined Guidance for comp
Slide 4: Market development
Business Review Market development Sales in monopolies in slight decline DEVELOPMENT OF WINE AND SPIRITS SALES VOLUMES IN THE NORDIC % change compared to previous year Q2 2023 Q2 2022 H1 23 H1 22 2022 NORDIC MONOPOLY SALES VOLUMES OF WINE AND SPIRITS TOGETHER Nordics, total sales volumes -1.5 -7.5 -
Slide 5: Wine
Business Review Wine New own and partner wines in Q2 Q2 Highlights NET SALES (TOTAL), MEUR 15.9% • Net sales increased to EUR 81.6 million 81.6 due to Globus Wine. 70.4 • Net sales without Globus Wine decreased. • Own wines grew sales while partner wines declined. • Market share grew in Norway and D
Slide 6: Spirits
Business Review Spirits Successful product launches and tender wins Sweden – Koskenkorva Organic and 7 Botanicals Finland – Barracuda Pineapples and new no and low - Q2 Highlights NET SALES, MEUR alcohol products in groceries, a new Koskenkorva shop- -1.8% in-shop at Helsinki-Vantaa airport • Net sa
Slide 7: Industrial
Business Review Industrial Q2 Highlights NET SALES, MEUR +4% • External net sales grew by 13%. 67.5 70.3 • Net sales in industrial services 27.9 increased due to higher volume and Internal 30.0 sales prices. • Net sales of industrial products 42.4 External 37.4 decreased due to low demand of starch
Slide 8: Sustainability highlights in Q2
Business Review Sustainability highlights in Q2 Planet • The process water circulation heat pump at Koskenkorva Distillery taken into full use to reduce CO2 emissions People • Lost time injury frequency LTIF 4.1 (7.8) • A shared human rights due diligence approach, and human rights reporting against
Slide 9: Financial review
Financial review Q2 2023 Result presentation | 25 August 2023 | 9
Slide 10: Barley sourcing
Financial review Barley sourcing In Q2 23 Anora used 38.7 (44.3) BARLEY PRICE DEVELOPMENT (EUR/TN)* million kilos of grain 400 350 300 250 200 150 100 50 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 ANORA’S MONTHLY SOURCING VOLUMES (TN) 30 000 Key principles
Slide 11: In Q2, net sales increased due to Globus Wine
Financial review In Q2, net sales increased due to Globus Wine In local currencies net sales without Globus Wine increased by 1.3% Q2 NET SALES (EXTERNAL), MEUR 183 166 24 Globus Wine 160 160 148 +10% 182.7 182,7 165.7 165,7 5.0 12.5 -0.5 159 Q2 19 PF Q2 20 PF Q2 21 PF Q2 22 Q2 23 Q2 22 Wine Spirits
Slide 12: Profitability weakened during Q2
Financial review Profitability weakened during Q2 Price increases only partly offset the impact of currency rates and high input costs. Profitability of Globus Wine lower than expected. COMPARABLE EBITDA, MEUR AND % OF NET SALES 23.3 23.6 18.9 -31% 16.6 18.9 -5.9 13.0 -1.4 -0.4 13.0 10.4% 15.7% 14.8
Slide 13: Balance sheet key figures
Financial review Balance sheet key figures H1 23 H1 22 2022 • The increase in net debt was mainly due to the acquisition of Globus Wine which was financed with debt. Net debt / comparable EBITDA (rolling 12m) 3.9 2.4 4.0 • The cash flow from operations was impacted by the change Borrowings, EUR mill
Slide 14: Events after the period
Financial review Events after the period Appointment in the Executive Management Team Risto Gaggl has been appointed as Senior Vice President, Industrial and member of Anora’s Executive Management Team as of 1 January 2024. Hannu Tuominen, current Senior Vice President, Industrial, will retire at th
Slide 15: Outlook 2023
Financial review Outlook 2023 Guidance updated on 15 August: Comparable EBITDA expected to be EUR 70-78 million. Previous guidance: Comparable EBITDA expected to be EUR 80-90 million. • In 2023, the volumes in the monopolies are expected to be significantly lower than during the COVID-19 restriction
Slide 16: Q&A
Q&A Q2 2023 Result presentation | 25 August 2023 | 16
Slide 17: Closing remarks
Closing remarks Q2 EBITDA Revised guidance: Risto Gaggl impacted by comparable EBITDA appointed as new currency exchange rates. 70-78 MEUR SVP Industrial Q2 2023 Result presentation | 25 August 2023 | 17
Slide 18: Appendix
Appendix Q2 2023 Result presentation | 25 August 2023 | 18
Slide 19: Q2 2023 income statement
Financial Review Q2 2023 income statement EUR million Q2 23 Q2 22 H1 23 H1 22 2022 Net sales 182.7 165.7 342.2 299.2 702.7 Other operating income 1.9 2.8 4.0 5.2 10.9 Materials and services -113.6 -95.3 -210.7 -170.8 -414.3 Employee benefit expenses -26.5 -23.0 -52.0 -46.4 -93.8 Other operating expe
Slide 20: H1 balance sheet
Financial Review 30 June 30 June 31 Dec EUR million 2023 2022 2022 H1 balance sheet EQUITY AND LIABILITIES Equity attributable to owners of the parent Share capital 61.5 61.5 61.5 Invested unrestricted equity fund 336.8 336.8 336.8 Legal reserve 0.5 0.5 0.5 30 June 30 June 31 Dec Hedge reserve 0.5 7
Slide 21: Anora's top 10 shareholders 30 June 2023
Ownership structure Anora's top 10 shareholders 30 June 2023 Shareholder Shares % of shares ILLUSTRATION OF ANORA’S OWNERSHIP Solidium Oy 13 097 481 19.4 Varma Mutual Pension Insurance Company 2 031 240 3.0 Ilmarinen Mutual Pension Insurance Company 1 290 000 1.9 Rest of the world 0.5% Canica AS Wes
Slide 22: Anora's Executive Management Team
Governance Anora’s Executive Management Team Pekka Tennilä Janne Halttunen Hannu Tuominen Kirsi Lehtola CEO SVP, Wine SVP, Industrial CHRO Sigmund Toth Kirsi Puntila Mikkel Pilemand CFO SVP, International CGO Previously served as International career Previously served as Strong HR expertise Chief Ex
Slide 23: Anora's Board of Directors
Governance Anora’s Board of Directors Michael Holm Johansen Jyrki Mäki-Kala Kirsten Ægidius Christer Kjos Florence Rollet Chairperson Vice Chairperson Member Member Member Shareholdings: 80,000 Shareholdings: 3,517 Shareholdings: 2,440 Shareholdings: - Shareholdings: - Chair of the Human Resources C
Slide 24: More information
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