Slide 1: Q4 2024 Results Presentation
Q4 2024 Results Presentation Kristoffer Ljungfelt, CEO Henrik Skogsfors, CFO
Slide 2: Nobia Group, highlights Q4
Nobia Group, highlights Q4 • Gradual recovery in the consumer market while the project market remains challenging due to low housing starts 2023 Q4 2024 Q4 • Net sales decline due to a soft project market whilst consumer Net sales (SEKm) 2,642 2,512 sales was growing • Continued gross margin improve
Slide 3: Kitchen market development, Nordic region
Kitchen market development, Nordic region Housing starts per quarter (thousands) Consumer market 20 • Consumer confidence remains low but improving 18 • Slight recovery in housing transactions in Sweden and Denmark 16 • Gradual increase in footfall and kitchen design meetings 14 Sweden 12 Norway Pro
Slide 4: Kitchen market development, UK
Kitchen market development, UK Housing starts per quarter (thousands) Consumer market 80 • Consumer confidence remains low and deteriorated in January 70 • House prices return to growth, with residential transaction levels rising 60 50 Project segment • Housing starts remain below long-term average
Slide 5: Strategic priorities
Strategic priorities • New Group organisation; decentralisation and local accountability will enable further cost saving measures Maximising cost • Run rate cost improvements of prior launched programs totalling SEK 400m efficiency and • SEK 140m run rate saving materializing from cost program launc
Slide 6: State-of-the-art new Jönköping factory
State-of-the-art new Jönköping factory Nordic estimated EBIT-margin run rate impact [%pt] • Ramp up during 2025 • Customized kitchens at large scale in Europe’s most modern kitchen factory • Latest automation and digitalization technology • Step-change performance in efficiency, flexibility, scale a
Slide 7: Milestone reached in January
Milestone reached in January • First shipments of complete kitchens to external customer started in January • Industrialization of frontal manufacturing, full kitchen assembly and order consolidation ongoing • New technology implemented with promising results • Inter company flows implemented • Inve
Slide 8: The road to an asset light operating model in the UK
The road to an asset light operating model in the UK 3 2 Phase 3 – 2024/25 • Capitalize on mass premium 1 Phase 2 – 2023/24 • Expand the asset light distribution model by • Change operating model by leveraging external partnerships Phase 1 – 2023/24 targeting the mass premium segment for higher AOV
Slide 9: Nordic region Q4
Nordic region Q4 Share of R12 sales by segment Share of R12 sales by country Finland • Organic net sales declined -11% (-25) 7% Retail Norway • Consumer sales up, while project segment continues Project 36% 20% 49% Denmark to decline double digit 50% Trade Sweden • Gross margin improvement driven by
Slide 10: UK region Q4
UK region Q4 Share of R12 sales by segment Share of R12 sales by channel Other Project • Organic sales flat (-21%) 18% 16% Retail DIY • Continued market headwinds in project and trade sales was Project 42% 18% Stores 16% compensated by growth in consumer sales 66% Trade 24% • Lower gross margin due
Slide 11: Financial position
Financial position Cash flow 2023 Q4 2024 Q4 Cash flow from operating activities 313 332 • Cash flow improvement driven by working capital, lower Operating cash flow -188 138 investments in fixed assets and additional payment Of w. operating profit* -110 -575 received for sale & leaseback transactio
Slide 12: Priorities going forward
Priorities going forward • Advance on our strategic agenda - Ramp-up Jönköping factory - Turnaround of the UK operations - Deliver on our cost out programs • Leverage on our strong brands and new organisation - Capture growth in consumer sales - Increase average order values - Productivity enhancing
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