Slide 1: Year-end report January - December 2011
Year-end report January - December 2011 January 26, 2012 Magnus Agervald and Pernilla Walfridsson
Slide 2: Summary January – December 2011
Byggmax Summary January – December 2011 During the fourth quarter, Byggmax increased operating income by 12.6 percent and profit before tax by 43.3 percent. • Net sales amounted to SEK 618.3 M (549.1) in Q4 and SEK 2,987.1 M (2,773.0) for the full year. • EBIT totaled SEK 50.3 M (37.9) in Q4 and SEK
Slide 3: Summary January – December 2011
Byggmax Summary January – December 2011 • 13 (12) new stores were opened, six in Sweden, three in Norway and four in Finland. • The Board of Directors proposes a dividend of SEK 1.8 per share for 2011. • The Group’s two distribution hubs were merged into one hub located in Lysekil in October. • Bygg
Slide 4: Stores – Thirteen stores opened in 2011, an additional 10-15 openings planned for 2012
Byggmax Stores – Thirteen stores opened in 2011, an additional 10-15 openings are planned for 2012 Store network at December 31, 2011 The following establishments have been announced: - Sweden: Ludvika - Norway: Moss and Askim - Finland: none The stores will be announced when the contracts have been
Slide 5: Byggmax joins the Bricoalliance
Byggmax Byggmax joins the Bricoalliance • The Bricoalliance is a joint purchasing collaboration comprising nine members operating in 13 countries. • The total number of stores is 547 with annual sales of approximately SEK 16 billion. • Byggmax is joining this partnership to further strengthen its co
Slide 6: Financial objectives and dividend policy
Byggmax Financial objectives and dividend policy • Byggmax’s financial objectives are: – Annual growth in excess of 15% – An EBIT margin in excess of 11% • Dividend policy – Dividend of at least 50% of the preceding year’s net profit • Dividend of SEK 1.5 per share for 2010 • The Board of Directors
Slide 7: Financial information
Financial information January 26, 2012
Slide 8: Results trend
Byggmax Results trend • Net sales rose by 12.6 percent in Q4 and by 7.7 percent for the full year. • The gross margin in Q4 was higher than for the year-earlier period. • Overhead costs increased during the fourth quarter, primarily due to costs for stores opened in 2011. 1 Earnings overview excludi
Slide 9: Sales trend
Byggmax Sales trend • Operating revenue was SEK 619.4 M (550.1) in Q4, up 12.6 percent and SEK 2,992.1 (2,776.1) for the full year, up 7.8 percent. • Net sales for comparable stores rose by 2.3 percent in local currency in Q4 and declined by 1.9 percent for the full year. • In Q4, net sales amounted
Slide 10: Gross margin
Byggmax Gross margin Q4 • Gross margin 31.6 percent (29.7) 31.6 29.7 29.7 30.1 • The gross margin has been strengthened by a positive product mix and by early payment of suppliers by Byggmax in return for discounted prices for a longer period in the fourth quarter compared with the preceding year. F
Slide 11: Operating expenses
Byggmax Operating expenses Personnel expenses Q4 247.1 • Personnel and other operating expenses rose by SEK 214.7 17.5 M. • This was primarily attributable to expenses of SEK 14.4 M for stores opened in 2011. 55.1 61.9 2010 2011 Full year • Personnel and other operating expenses rose by a total of Q
Slide 12: Net financial items
Byggmax Net financial items December 2011 12
Slide 13: Financial position and cash flow
Byggmax Financial position and cash flow • Cash flow from operating activities in Q4 declined by SEK 72.8 M year-on-year. This was principally attributable to early payment of suppliers by Byggmax in return for discounted prices for a longer period in the fourth quarter compared with the preceding y
Slide 14: Condensed financial statements January – December 2011
Condensed financial statements January – December 2011 January 26, 2012
Slide 15: Income statement
Byggmax Income statement December 2011 15
Slide 16: Balance sheet
Byggmax Balance sheet December 2011 16
Slide 17: Cash-flow statement
Byggmax Cash-flow statement December 2011 17
Slide 18: Cash-flow statement continued
Byggmax Cash-flow statement continued December 2011 Note that cash and cash equivalents in the cash flow are adjusted for blocked funds 18
Slide 19: Largest shareholders at December 31, 2011
Byggmax Largest shareholders at December 31, 2011 Number of Name/Address shares Holding (%) ALTOR 2003 Sarl 21 720 908 35,76 Lannebo fonder 4 997 227 8,23 ZAMGATE INVESTMENTS (Stig Notlöv) 3 078 042 5,07 Schroder Investment Management North America, Inc. 2 795 000 4,60 JARRTON MANAGEMENT (Göran Pete