Nimbus Group Ab · OMXSTO:BOAT

Nimbus Group Ab — Q4 2023 Earnings Presentation

15 slides from Nimbus Group Ab's earnings presentation, 2024

  1. Slide 1: Nimbus Group fourth quarter report 2023

    Nimbus Group fourth quarter report 2023 Trend for premium boats provides support for our strategy but non- recurring and restructuring costs burden the quarter Alukin Ocean Air 8 1

  2. Slide 2: Today’s Presenters

    Today’s Presenters Jan-Erik Lindström Rasmus Alvemyr CEO CFO 2

  3. Slide 3: Key takeaways from 2023 – A year of strategic shift

    Key takeaways from 2023 – A year of strategic shift  Expansion in North America – Dealer network expanded in key boating districts – Acquisition of Edgewater – Consolidation of North American sales organisation – Preparations for local US production of Nimbus brand boats – Launch of Aquador brand 

  4. Slide 4: Highlights of the fourth quarter 2023

    Highlights of the fourth quarter 2023  Sales increased by 7 % to 361 mSEK (338)  EBITA amounted to -4,4 mSEK (10,3), including non-recurring costs of 10 mSEK  EBITA margin -1,2 % (3,1 %), negative effected by currency as reported in Q3 (-14 mSEK)  Order book at 759 mSEK (930), 96% referring to p

  5. Slide 5: This is Nimbus Group

    This is Nimbus Group  Founded in 1968  Long history of international sales  True house of well-known brands  2021, May - acquisition of Marine Store  2022, Feb - acquisition of Herholdt Andersen  2022, June - Own establishment in North America  2022, Aug – Launch of new Aquador series  2023,

  6. Slide 6: Productivity improvements and increased focus on premium segment

    Productivity improvements and increased focus on premium segment Production facilities  Norrtälje production site: Footprint Internal production Outsourced production – Production of aluminum boats outsourced and consolidated to external partner – factory closed  Lugnås production site: – Nimbus C

  7. Slide 7: Strong long term underlying market development with drivers in the premium segment

    Strong long term underlying market development with drivers in the premium segment Overall wealth is increasing Global drivers Increased popularity of “Staycation” Ageing boat fleet Industrial drivers Technical development . 7

  8. Slide 8: Order book development

    Order book development Orderbook SEKm 1 241 1 139  Order book down 18% Y/Y mainly driven by small boats (-100 1 103 1 0511 051 mSEK) 960 930 953 946 854  Order book geographically well balanced in relation to world 731 759 market, with North America representing 54% 708  Higher share of premium b

  9. Slide 9: Sales development per market

    Sales development per market Q4 Full year  Strong development in North America by 113 mSEK driven by  North America expanded by 411 mSEK, whereof EdgeWater 269 premium boats, whereof EdgeWater 90 mSEK mSEK, organic growth of +94%  Continued soft market in the Nordics continues, -39%  Drop in the

  10. Slide 10: Sales development

    Sales development  Net sales in Q4 increased by +8% Y/Y, affected by currency and EW acquisition (90 mSEK)  Organic growth in Q4 was –20%, fully explained by drop in small boats Distribution of sales in the fourth quarter, SEK Million +8% 350 300 310 SEKm 250 251 200 1898 1751 150 1455 +7% 100 927

  11. Slide 11: EBITA Development

    EBITA Development  Lower EBITA-margin in Q4 down to -1,2% (L/Y 3,1%), mainly effected by:  SEK currency development: Negative effect of about -14 mSEK on GM (effecting EBITA approx -4 pp)  Non-recurring costs referring to restructuring and reserves of -10 mSEK (effecting EBITA by -3 pp)  Cost un

  12. Slide 12: Working Capital

    Working Capital  NWC in Q4 amounted to 543 mSEK compared with 548 in Q3.  Stock levels increased by 56 mSEK, driven by higher levels of finished goods and lower levels of WIP and Raw material. The increase follows seasonality trends.  Level of demo boats at own dealers are filled up and well bala

  13. Slide 13: Strategic CAPEX investments done in 2023

    Strategic CAPEX investments done in 2023  CAPEX 2023 amount to 61 mSEK (66) – Investments in Lugnås Factory by -17 mSEK – Product development 44 mSEK (34) , dominated by Nimbus 465 Coupe 13

  14. Slide 14: Financial Targets

    Financial Targets Growth >10% EBITA margin 10% Capital structure - No Financial debt Dividend policy 30% 14

  15. Slide 15: Q & A

    Q&A Financial calendar: April 26th Q1 report 15

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