Elektroimportoren As · OSL:ELIMP
Elektroimportoren As — Elektroimportøren AS — Q2 2024 Earnings Presentation
22 slides from Elektroimportoren As's earnings presentation, Aug 22, 2024
Slide 1: Elektroimportøren 2nd quarter presentation
Elektroimportøren 2nd quarter presentation 22 August 2024 Andreas Niss CEO Jørgen Wist CFO
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Elektroimportøren AS (the “Company”) solely for information purposes. The presentation does not constitute an invitation or offer to acquire, purchase or subscribe for shares. Certain statements included in this presentation contain various forward-l
Slide 3: Agenda
Agenda Q2 highlights Trading summary Financials Outlook
Slide 4: Q2 highlights
Q2 highlights Revenue of NOK 349 million, up 7.2% from NOK 326 million last year Like for like sales, up 4.4% Gross margin of 32.4%, down from 34.6% last year Operating expenses of NOK 80 million, a reduction of NOK 2 million from NOK 82 million last year. Opex to sales ration of 22.8% (25.2% last y
Slide 5: Q2 2024 trading summary
Q2 2024 trading summary Number of Visitors Good start of the quarter with double digit growth 500 000 420 388 401 838 in April. Uplift partly due to Easter being in March 400 000 300 000 last year 200 000 100 000 Growth in 4 out of 5 major categories. EV chargers 0 Q2 2024 Visitors Q2 2023 Visitors
Slide 6: Elbutik, Sweden
Elbutik, Sweden Q2 revenues of NOK 34 million up 13% from NOK 30 million last year Reported EBITDA NOK -6 million vs NOK -5 million last year Adjusted EBITDA NOK -3 million vs NOK -5 million last year.
Slide 7: Sweden preliminary strategic review
Sweden preliminary strategic review The board has conducted a preliminary strategic review related to our operation in Sweden and possible short-term actions to improve profitability and reduce losses. On short term, our conclusion is that operational efforts to increase turnover and cost reduction
Slide 8: Namron share of business in Norway
Namron share of business in Norway for Q2 was 31.5% versus 31.6% last year Namron gross margin was 54.5% in Q2 Namron sales in Sweden with a share of business of 7.4% in Q2 compared to 4.8% in Q2 2023.
Slide 9: EV Chargers
EV Chargers Q2 revenues of NOK 29 million, up 35% vs. last year Market is declining Stock levels are normalized We now expect this product group to develop in line with other product groups
Slide 10: Solar
Solar Total orders of NOK 4 million in Q2, down -63% from last year. Order back log of NOK 4 million end of March. Market is down -63% vs. Q2 last year Inventory levels of NOK 34 million at end of Q2 Sales have been re-focused to target commercial buildings, while continuing to offer solar to consum
Slide 11: SpotOn total revenue in Q2
Total revenue in Q2 of NOK 14 million, up 100% from NOK 7 million last year We manage to grow revenue in all categories except smart home. Solar contribution is supporting growth but pressuring gross margins. We continue to explore opportunities to include other craftsman areas in the platform and t
Slide 12: Finance
Finance == Elektroimportoren
Slide 13: Revenues
Revenues Revenue of NOK 349 million, an increase of 7.2% from NOK 326 million last year. Double digit growth in April because of Easter being in March this year and the impact of the Easee ban was evened out late March. Strong sales in June because of aggressive campaign We are back to growth in bot
Slide 14: Gross margin
Gross margin Gross margin of 3 2.4%, down from 34.6% last year. Overall, margins were impacted by shift towards B2B with lower margin, FX effects and an aggressive campaign in June. Adjusted for FX effects on Namron products and solar products, gross margin would be 33.8 per cent Q2 2024.
Slide 15: OPEX
OPEX Opex to sales ratio was reduced to 22.8% in Q2 (25.2% last year). Operating expenses are reduced compared to last year, even with general salary increase, inflation adjustment of costs and Easter effect. Easter effect of approximately NOK 3 million. The group continues to maintain a rigid cost
Slide 16: EBITDA
EBITDA Reported EBITDA of NOK 30 million, down from NOK 31 million last year. EBITDA margin in Q2 was 8.7%, down from 9.4% last year. Adjusted EBITDA of NOK 33 million, up from NOK 31 million last year. Adjusted EBITDA margin in Q2 was 9.6%, up from 9.4% last year. Adjustment of NOK 3 million is cos
Slide 17: Cash Flow
Cash Flow Cash flow from operations affected by reduction in inventory during the quarter. Cash flow from investments is mainly maintenance CAPEX and Spoton Cash flow from financing consists of proceed from issue of shares from the Subsequent Offering as an extension to the private placement in Febr
Slide 18: Cash and credit facilities
Cash and credit facilities Cash and available credit facilities of NOK 205 million (NOK 142 million), including an unused overdraft facility of NOK 120 million. Excluding IFRS 16 effects, net interest-bearing debt was NOK 165 million at the end of the quarter (NOK 327 million) Next amortization on o
Slide 19: Events after the period and Outlook
Events after the period and Outlook
Slide 20: Events after the period and Outlook
Events after the period and Outlook In July we signed a contract for a new store in Oslo. Target is to open mid November this year. We are committed to improve our gross margin and have conducted a price increase in Norway 1st of July, however weakened NOK to USD and increased cost of freight keeps
Slide 21: Q&A
Q&A == Elektroimportoren
Slide 22: Elektroimportøren
Elektroimportøren