Nobia Ab · OMXSTO:NOBI
Nobia Ab — Q1 2014 Earnings Presentation
12 slides from Nobia Ab's earnings presentation, Apr 28, 2014
Slide 1: Interim report January-March 2014
Interim report January-March 2014 28 April 2014
Slide 2: Q1 highlights
Q1 highlights Organic growth 3% (–2) Gross margin 40.6% (39.9) EBIT margin 3.3% (2.2) EBIT SEK 97 m (62) Profit after tax SEK 47 m (25) Operating cash flow SEK 132 m (–53)
Slide 3: Kitchen market trend
Kitchen market trend Nordic market deemed to have been unchanged compared to last year. Consumers are hesitant and the only professional market in a distinct growth mode is the Swedish. UK market continued to grow due to generally higher consumer confidence. Market growth was primarily attributable
Slide 4: Strategy to increase profitability
Strategy to increase profitability Initiatives Growth TARGET: EBIT margin 10% Efficiency
Slide 5: Net sales and EBIT margin from 2008
Net sales and EBIT margin from 2008 SEK M 9% 8%EBIT margin excl 15,991 15,418 5.9% 6.1% 7%restructuring costs 5.8% 14,085 6% 13,114 12,343 11 773 11 866 5% 4.6% 4% 3.9% 3% 3.7% 2% 2.2% 1% 0% -1% 2008 2009 2010 2011 2012 2013 Apr-Mar 13-14 5
Slide 6: Growth initiatives
Growth initiatives Focus on innovation to bring both small and larger innovations faster to market Investments in digital to improve footfall – Web site platform with improved functionality to facilitate link to store network Nobia-wide front end excellence programme – Common sales process and
Slide 7: UK region
UK region 37% of net sales in Q1 2013 2014 Organic sales growth attributable to Jan-Mar Jan-Mar B2B sales Net sales (SEK m) 991 1,099 Earnings improved, mainly as a result of improved gross margin Organic growth 2% 2% Magnet’s transition to Group-wide standard dimension according to plan Gross
Slide 8: Nordic region
Nordic region 44% of net sales in Q1 2013 2014 Organic sales growth attributable to Jan-Mar Jan-Mar both professional and consumer sales Net sales (SEK m) 1,200 1,262 Favourable impact from the number of delivery days Organic growth –7% 6% Margins improved Gross margin 39.7% 39.9% Negative c
Slide 9: Continental Europe region
Continental Europe region 19% of net sales in Q1 2013 2014 Organic sales decline attributable to Jan-Mar Jan-Mar Hygena Net sales (SEK m) 622 561 Optifit had sales of SEK 74 m in Q1 2013 Organic growth 1% –1% Improved gross margin, primarily due to higher sales values Gross margin 38.6% 40.3%
Slide 10: Financial position, Q4
Financial position, Q4 SEK m Q1 Q1 2013 2014 Improved operating cash flow Operating profit 62 97 Positive change in working capital Change in –126 23 working capital Higher profit generation Investments in fixed 55 54 assets Lower net debt Operating cash flow –53 132 Lower net borrowings Low
Slide 11: Strategy and target remain
Strategy and target remain Initiatives Growth TARGET: EBIT margin 10% Efficiency 11
Slide 12: Q&A
Q&A