Slide 1: Year end and Q4 2024 presentation
Year end and Q4 2024 presentation February 6, 2025
Slide 2: Today's presenters
Today’s presenters Pär Svärdson Johan Mårild Sarah Ahnström CEO and CFO COO and Co-founder Deputy CEO Co-founded Apotea in Joined Apotea in Joined Apotea in 2011 2022 2019 2
Slide 3: Q4 2024 - Highlights
Q4 2024 - Highlights Q4 figures Strong growth and increased profitability SEKm 1,732.9 15.8% Net revenue Net revenue growth1) ✓ Strong net revenue growth driven by Rx sales. ✓ Increased profitability. ✓ Sustained high inventory turnover and a solid balance sheet. 3.9% 9.8x EBIT margin excluding item
Slide 4: Quarterly update
Quarterly update Successful IPO in December Black Week ✓ Important milestone for Apotea. ✓ Black Week campaign was successfully executed. ✓ We welcomed tens of thousands new shareholders. ✓ 86 000 orders delivered in one day. Increased Rx capacity Assortment ✓ Intensified efforts to recruit more pha
Slide 5: Net revenue growth driven by strong Rx sales
Net revenue growth driven by strong Rx sales Net revenue development, SEKm Gross margin development, SEKm Rx % of net revenue OTC products and traded goods % net revenue Gross profit Gross margin (%) 2 000 50,0% 1,733 1 800 45,0% 1,496 2.3% 1 600 40,0% 2.3% 1 400 35,0% 1 200 30,0% 60.3% 27.2% 27.0%
Slide 6: Margin uplift supported by increased fulfilment efficiency
Margin uplift supported by increased fulfilment efficiency Adjusted EBIT development*, SEKm Operating costs* and D&A, % of net revenue Adj. EBIT Adj. EBIT margin Other OPEX* Personnel cost D&A 3.9% 2.3% 2.0% -0.3p.p 2.3% 9.0% 8.1% -0.9p.p 67 34 14.1% 13.7% -0.4p.p Q4 '23 Q4 '24 Q4 '23 Q4 '24 • Items
Slide 7: Capex in line with comparable period previous year
Capex in line with comparable period previous year Cash flow development, SEKm Net working capital, SEKm Capex Other current assets1) Accounts receivables Inventory Cash flow from operating activities Other current liabilities1) Accounts payables Low inventory levels Q4 ‘23 Increase in accounts 82 r
Slide 8: 2024 – An exciting year with strong growth and improved profitability
2024 – An exciting year with strong growth and improved profitability Net revenue and Adjusted EBIT margin* R12M 77,000 000 5% Q1 Construction start in Varberg 66,500 500 4% 3% 66,000 000 2% 55,500 500 1% IPO preparations and new Q2 55,000 000 0% board members Q1 24 Q2 24 Q3 24 Q4 24 Net revenue R12
Slide 9: Net revenue growth and increased gross margin in 2024
Net revenue growth and increased gross margin in 2024 Net revenue development, SEKm Gross margin development, SEKm Rx % of net revenue OTC products and traded goods % net revenue Gross profit Gross margin (%) 6,541 2023 2024 2 500 30,0% 5,450 2.2% 27.3% 26.6% 25,0% 2.1% 2 000 1 788 1 449 20,0% 60.9%
Slide 10: Improved EBIT supported by increased efficiency
Improved EBIT supported by increased efficiency Adjusted EBIT development*, SEKm Operating costs* and D&A, % of net revenue Adj. EBIT Adj. EBIT margin Other OPEX* Personnel cost D&A 4.4% 2.1% 1 290 300 20,0% 18,0% 2.1% 250 16,0% 2.0% -0.1p.p 200 14,0% 9.2% 12,0% 8.2% -1.0p.p 150 114 10,0% 8,0% 100 6
Slide 11: Stable operating cash flow 2024
Stable operating cash flow 2024 Cash flow development, SEKm Net working capital, SEKm Capex Other current assets1) Accounts receivables Inventory Cash flow from operating activities Other current liabilities1) Accounts payables 216 206 273 163 116 73 62 359 120 289 410 562 -546 -559 -99 -162 2023 20
Slide 12: Increased return on capital employed and a strong balance sheet
Increased return on capital employed and a strong balance sheet Return on capital employed (ROCE) Net debt (excl. IFRS 16) development, SEKm Interest bearing debt (excl. IFRS16) Cash and cash equivalents Net indebtedness/EBITDA (exc. IFRS16) 0.3x 0.2x 34.5% 52 48 16.7% 67 80 -19 -27 2023 2024 Dec '2
Slide 13: Our focus ahead
Our focus ahead Continue to improve our customer offering and increase efficiency ✓Continue to increase Rx-capacity and launch a new Rx hub in the spring of 2025. ✓Expand the private label offering. ✓Realize AI-related efficiencies in the business. ✓Start production in the new fulfilment centre in V
Slide 14: Q&A
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