Viva Wine Group Ab · OMXSTO:VIVA
Viva Wine Group Ab — Q4 2024 Earnings Presentation
22 slides from Viva Wine Group Ab's earnings presentation, Feb 20, 2025
Slide 1: Quarterly Results Q4 2024
VIVA WINE GROUP QUARTERLY RESULTS Q4 20246
Slide 2: Agenda
AGENDA Introduction to Viva Wine Group Quarterly Update Financial Overview Performance by Segment Emil Sallnäs Final Remarks CEO & Founder Linn Gäfvert Q&A CFO
Slide 3: Introduction
INTRODUCTION
Slide 4: This is us
THIS IS US Two segments RTM eCom 17% 83% Nordics Segment Nordics Segment eCom 3 11 SWEDEN FINLAND NORWAY PLATFORMS MARKETS
Slide 5: Quarterly Update
QUARTERLY UPDATE
Slide 6: Q4 Performance Summary
Q4 PERFORMANCE SUMMARY Continued market share gains in the Nordics Net sales increased by 8.7%. Organic growth of 8.2% Strong increase in profitability, adj. EBITA margin of 8.7% (6.3%) Proposed dividend of SEK 1.55 per share
Slide 7: Financial Overview
FINANCIAL OVERVIEW
Slide 8: Growth in Net Sales
GROWTH IN NET SALES Net Sales per segment Q4 2024 vs Q4 2023, SEKm +8.7% 100 0 0 1 194 • Strong quarter in the Nordics. 1 098 -4 • Slight decrease in eCom. • Organic growth 8.2% (4.4%) in the quarter. Net Sales Nordics eCOM Other Eliminations Net Sales Q4 2023 Q4 2024
Slide 9: Strengthened Adj EBITA Margin
STRENGTHENED ADJ EBITA MARGIN +49.6% Adjusted EBITA per segment Q4 2024 vs Q4 2023, SEKm 39 0 104 -3 -2 • Improved profitability from strong sales 70 8.7% and improved GM - a result of increased volumes and balanced price adjustments. 6.3% Adj. EBITA Nordics eCOM Other Eliminations Adj. EBITA Q4 202
Slide 10: Net Working Capital
NET WORKING CAPITAL Net Working Capital, SEKm Net Debt, SEKm Net Working Capital NWC/Net Sales RTM Net debt Net debt to EBITDA RTM 519 521 421 422 491 402 11.0% 10.1% 10.0% 1.8x 1.4x 1.1x 2022-Q4 2023-Q4 2024-Q4 2022 2023 2024
Slide 11: Cash Flow Strong from Operating Activities
CASH FLOW STRONG FROM OPERATING ACTIVITIES Cash Flow Q4, SEKm 128 -2 -13 -70 • Cash flow from operating activities was strong during the quarter – both strong result and change in NWC. • Cash flow from financing activities -21 according to plan. -6 31 • Bank overdraft fully repaid 14 • Acquisition f
Slide 12: Performance by Segment
PERFORMANCE BY SEGMENT
Slide 13: Segment Nordics
SEGMENT NORDICS Monopoly volume & market share development # 1 in the Nordics Q4 2024 Market Viva Wine Group Viva MS% Increasing market share in the Nordic monopoly markets. 22.2% -0.5% +3.3% (21.4%) Our agile and consumer centric business model is the key success factor. 27.9% 1.8% +3.4% (27.4%) Cl
Slide 14: Segment Nordics – Market Share Development YoY
SEGMENT NORDICS – MARKET SHARE DEVELOPMENT YoY # 1 in the Nordics 22.4% 20.8% 18.4% 19.6% 2024 market share of 22.4%, 17.0% 17.6% +1.6% vs Prior Year. 2019 2020 2021 2022 2023 2024
Slide 15: Segment Nordics – Net Sales and Adj. EBITA Development
SEGMENT NORDICS – NET SALES AND ADJ. EBITA DEVELOPMENT Net Sales increased by 11.2% vs Q4 2023. Organic Adj. EBITA margin - increased in Q4 reaching growth of 10.5%. targeted profitability level. Main driver is an increase in sales and GM percentage. Net Sales Adjusted EBITA margin +11.2% 99 992 10.
Slide 16: Segment Viva eCom
SEGMENT VIVA ECOM Slow market and low consumer sentiment Organic growth in the quarter of -2.2% Continued focus on existing markets New customer acquisition channels show promising result
Slide 17: Segment Viva eCom – Net Sales and Adj. EBITA Development
SEGMENT VIVA ECOM – NET SALES AND ADJ. EBITA DEVELOPMENT Organic growth of -2.2%. Net sales -2.2% vs Q4 2023. Adjusted EBITA% below Q4 2023 driven by lower sales Consumer sentiment at low levels with unsteady trade. -2.2% Adjusted EBITA margin Net Sales 205 200 20 18 9.8% 8.8% Q4 2023 Q4 2024 Q4 202
Slide 18: Final Comments
FINAL COMMENTS
Slide 19: Financial Targets
FINANCIAL TARGETS Annual Organic Growth Nordics Profitability Dividend policy Indebtedness >4% 10-12% Net debt/ EBITDA 50-70% eCom Adjusted EBITA margin <2.5x of annual net profit 10-15%
Slide 20: Final remarks
Final remarks Overall a very strong quarter! Improved growth and profitability OPEX relative to sales to go up in 2025 We continue to work the M&A market actively Positive outlook for 2025
Slide 21: Q&A
Q&A
Slide 22: Slide 22