Slide 1: Results presentation Q2 2024
Results presentation Q2 2024
Slide 2: Q2 in summary
Q2 in summary Record second quarter earnings EBITDA increased 16.9%, EBITA increased 21.6% & EBIT increased 25.9% EBITDA margin was 26.9% (25.3%), EBITA margin was 17.9% (16.2%) & EBIT margin was 15.8% (13.8%) Strengthened market position in the Nordics with a net sales growth of 10.0% Str
Slide 3: Q2 Overview
Q2 Overview Q2 Net sales amounted to 1 723 MSEK (1 566), an Net Sales increase of 10.0% MSEK 1 723 Strengthened gross margin, amounted to 74.3% Q2 (74.0) Gross margin 74.3% Organic growth during Q2 was 9.5% and growth like-for-like was 6.8% Q2 Organic growth +9.5% EBITDA increased to 469 MSE
Slide 4: Strong development in all markets
Strong development in all markets 1 Organic growth Q2 Like for like Q2 EBITDA Q2 +8.4% +6.5% 241 MSEK (224) SWEDEN 2 Organic growth Q2 Like for like Q2 EBITDA Q2 DENMARK +1.8% +1.8% 89 MSEK (81) 122 257 62 Stores Stores Stores 2 Organic growth Q2 Like for like Q2 EBITDA Q2 +10.7% +8.8% 92 MSEK (83)
Slide 5: New stores – successful establishments in small cities
New stores – successful establishments in small cities Rolling 12-months actuals (MSEK) – selected stores Store Opening/Upgrade month Sales EBITDA* Comment Store Opening/Upgrade month Sales EBITDA* Comment B Synsam Norrmalmstorg 2019-03 68 27 Profil Optik Roskilde 2022-12 12 3 I G Synsam Hötorget 20
Slide 6: Strong development for Synsam's total subscription business
Strong development for Synsam’s total subscription business Strong development in the total subscription turnover, which The total number of subscription customers amounted to 799 amounted to 3 625 MSEK LTM Q2 2024 thousand in Q2 2024. Goal 1 million subscription customers 2025 Total subscription
Slide 7: High loyalty in Synsam Lifestyle
High loyalty in Synsam Lifestyle Churn and customer growth remains stable 3,0% 2,5% Churn 2,0% 2,33% 2,51% 2,26% 2,20% 2,12% 2,17% 2,11% 2,17 2,28% 1,5% 2,06% 2,04% 1,87% 1,87% 1,86% 1,0% 0,5% Synsam Lifestyle represents 52% of total net sales 0,0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2021 2022
Slide 8: Synsam Lifestyle – Renewals continue to increase and amounts to more than half of the net sales
Synsam Lifestyle – Renewals continue to increase and amounts to more than half of the net sales The proportion of loyal customers is increasing Large base of Synsam Lifestyle customers means potential for recurring sales Sales from subscription renewals are becoming increasingly important, com
Slide 9: Synsam's contact lens subscription strong growth
Synsam’s contact lens subscription strong growth Fast growing contact lens subscription sales (MSEK) +43%* +68% 417 375 +32% +38% 223 +50% 169 +283% 123 82 21 2018 2019 2020 2021 2022 2023 LTM Q2 2024 Q2 2024 RESULTS | 9 *LTM growth corresponds to growth compared to the previous year’s LTM
Slide 10: Financial Development
FINANCIAL DEVELOPMENT &) s¥NSAM GROUP
Slide 11: Long term financial development – strong trend
Long term financial development – strong trend Net sales development Adjusted EBITDA, adjusted EBITA and EBIT 7 550 +23% 2 000 development +13% +20% +12% 1 800 26,0% +9% 26,9% 26,0% 22,8% 6 040 +11% 1 600 24,6% 24,8% 6 173 +0% 24,1% +2% 5 905 1 549 1 400 5 277 1 440 20,0% 4 530 -+20% 4 669 1 200 1 2
Slide 12: Long term financial development – strong trend
Long term financial development – strong trend Net sales and adjusted EBITDA margin per quarter 1 900 35% 1 800 1 700 30% 1 600 1 500 1 400 25% 1 300 1 200 1 100 20% 1 000 900 800 15% 700 600 10% 500 400 300 5% 200 100 0 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2019 2020
Slide 13: Very strong cash flow & lower Net debt/Adjusted EBITDA
Very strong cash flow & lower Net debt/Adjusted EBITDA Cash flow from operating activities before changes in Cash flow from operating activities before changes in working capital working capital increased to 375 MSEK (319) in the 1032 1146 second quarter 319 375 Cash flow from operating activiti
Slide 14: Summary
SUMMARY
Slide 15: Summary
Summary Record earnings EBITDA increased 16.9% EBITA increased 21.6% EBIT increased 25.9% Increased market shares Strong growth and improved profitability in all countries Strong development in Denmark Positive development and momentum in Norway The proportion of loyal customers in
Slide 16: www.synsam.com
www.synsam.com