Slide 1: Q2/2023 Half-Year Report: Net Sales Below Expectations Due to Market Conditions
REVENIO GROUP CORPORATION Q2/2023 HALF-YEAR REPORT: NET SALES BELOW EXPECTATIONS DUE TO MARKET CONDITIONS JOUNI TOIJALA, CEO ROBIN PULKKINEN, CFO August 10, 2023
Slide 2: Disclaimer
Disclaimer This presentation does not constitute an invitation to underwrite, subscribe for, or otherwise acquire or dispose of any Revenio's shares. Revenio’s past performance is no guide to future performance, and persons needing advice should consult an independent financial adviser. This present
Slide 3: We aspire to keep the wonderful world visible for all
We aspire to keep the wonderful world visible for all Jouni Toijala Robin Pulkkinen CEO CFO
Slide 4: Agenda
Agenda 1. Financial guidance 2. Highlights of the quarter 3. Financials and shareholders
Slide 5: Financial guidance
Financial guidance Financial guidance for 2023 (published on August 1, 2023) Net sales Revenio Group’s exchange rate-adjusted net sales Net sales (EUR million) Operating profit, EBIT (EUR million) growth is estimated to be between 1 - 5 percent compared to the previous year and profitability, 97,0 e
Slide 6: Financial guidance for 2023
Financial guidance for 2023 • As stated in the profit warning published on August 1, 2023, our current operating environment appears challenging • We expect inflation and high-interest rates to influence the purchasing behavior of our customers • Visible especially among private equity-funded optome
Slide 7: January – June 2023 highlights
January – June 2023 highlights Net sales below our expectations due to market conditions • Net sales totaled EUR 45.5 (44.6) million, an increase of 2.0% • The currency-adjusted growth of net sales in January– N ET SAL ES 45.5 MEUR June was 4.3% • Operating profit was EUR 10.8 (12.7) million, or 23.
Slide 8: Highlights of the quarter
Highlights of the quarter • The first half year of 2023 was two-fold in terms of results: The year started strongly with double-digit growth, but the second quarter was exceptionally weak in terms of demand • The net sales development for the second quarter was below our expectations and the decline
Slide 9: Key takeaways
Key takeaways • We have an up-to-date growth strategy and a strong global team that implements it • We renewed our organisational structure as of February 1, 2023 • With the new organizational model, we will support our growth and clarify the management and transparency of our strategic priorities •
Slide 10: Financials
FINANCIALS ROBIN PULKKINEN, CFO
Slide 11: Development of Revenio's key figures
Development of Revenio’s key figures Change- Change- MEUR 4-6/2023 4-6/2022 1-6/2023 1-6/2022 % % Net sales 22.3 24.4 -8.7 45.5 44.6 2.0 Gross margin 15.8 17.4 -9.1 32.2 32.1 0.3 • Gross margin remained healthy Gross margin, % 71.1 71.3 -0.3 70.8 71.9 -1.1 EBITDA 5.6 8.0 -29.3 12.7 14.4 -11.6 • FX i
Slide 12: Net sales below our expectations due to market conditions
Net sales below our expectations due to market conditions Net sales (EUR million) Adjusted operating profit EUR million and % (EBIT) 30 28,3 1,2 10 9,3 45 9 38,8 30,7 24,4 35,2 7,7 40 25 23,8 24,1 23,2 1 7,6 31,3 7,7 22,3 8 7,1 35 32,6 31,7 19,7 20,2 7 25,2 23,7 27,5 29,2 33,1 18,9 19,4 6,2 30 20 0,
Slide 13: Strong balance sheet to secure financial flexibility
Strong balance sheet to secure financial flexibility Cash flow from operations (EUR million) Equity ratio and net gearing (%) 80 25,0 14 20,7 71,1 67,4 67,4 20,0 11,7 70 66,2 66,8 12 11,0 64,0 63,0 64,0 61,1 14,859,5 60,9 60,3 61,9 15,0 10 60 57,6 11,2 10,0 8 7,1 6,1 6,7 6,5 7,0 6,5 6,2 50 5,0 5,8 6
Slide 14: Shareholders on June 30, 2023
Shareholders on June 30, 2023* No. of shares % Verified Owner distribution by country: 1. William Demant Invest A/S 4,292,299 16.09% 2023-06-30 Finland 47.13% 2. SEB Funds 1,232,759 4.62% 2023-06-30 Denmark 16.74% 3. Vanguard 845,490 3.17% 2023-06-30 United States 10.37% 4. Swedbank Robur Funds 698,
Slide 15: Financial guidance
Financial guidance Financial guidance for 2023 (published on August 1, 2023) Net sales Revenio Group’s exchange rate-adjusted net sales Net sales (EUR million) Operating profit, EBIT (EUR million) growth is estimated to be between 1 - 5 percent compared to the previous year and profitability, 97,0 e
Slide 16: Q&A
Q&A REVENIO
Slide 17: Thank you!
“We aspire to keep the Financial guidance for 2021 – updated on August 4 , 2021 th wonderful world visible for all” Revenio Group’s exchange rate adjusted net sales are estimated to grow very strongly from the previous year and profitability is to remain at a good level without non-recurring items.