Desenio Group Ab · OMXSTO:DSNO
Desenio Group Ab — Q1 2025 Earnings Presentation
21 slides from Desenio Group Ab's earnings presentation, Apr 30, 2025
Slide 1: Q1 2025 Desenio Group Result Presentation
Q1 2025 DESENIO GROUP Result | Presentation
Slide 2: Q1 Result Presentation agenda
Q1 RESULT PRESENTATION • Q1 Highlights • Business update • Financial update • Q1 Summary Add image or video here • Q&A
Slide 3: Q1 Highlights
Q1 HIGHLIGHTS • Net sales decreased by 10.0% to SEK 206.0 (228.9) million • Continued weak development in all of our markets • Adjusted EBITA was SEK 21.5 million (22.0), corresponding to an adjusted EBITA margin of 10.4% (9.7%) • Adjusted gross margin improved to 84.8% (83.8%) • Cost ratio for fulf
Slide 4: Q1 Highlights: bond restructuring
Q1 HIGHLIGHTS • 75% write-down of the bonds • Debt-for-equity swap through a set-off issue of shares • Dilution effect of 95% for existing shareholders • 33% of the total shares in Desenio Group are listed and can be traded • The unlisted shares can be converted into new listed shares under certain
Slide 5: Q1 Highlights: key figures
Q1 HIGHLIGHTS -10.0% 84.8% 10.4% -17.7 MSEK 206 MSEK (83.8%) (9.7%) (-19.1 MSEK) 83.7% excluding adjustment -6.4% excluding adjustment Adjustment of -15.1 MSEK for warehouse consolidation for warehouse consolidation due to the bond refinancing and bond refinancing 5
Slide 6: Q1 Highlights: adjusted EBITA margin bridge
Q1 HIGHLIGHTS SEK 27.9 million one-offs, of which SEK 6.1 million warehouse consolidation and SEK 21.9 million related to bond refinancing Excluding one-offs Excluding one-offs Improvement of +1.2 p.p. effect on -0.2 p.p. effect on SEK 6.9 million. EBITA margin EBITA margin Excluding one-offs 12 +/-
Slide 7: Agenda: Business update
• Q1 highlights • Business update • Financial update Add image or video here • Q1 Summary • Q&A 7
Slide 8: Germany and UK sales vs search trend
BUSINESS UPDATE 2025 Desenio Group Germany sales vs search trend Desenio Group UK sales vs search trend Desenio + Poster Store Data source: Google Trends 8
Slide 9: Germany and UK share of voice
10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 0% 2019-01 2019-03 2019-05 2019-07 2019-09 2019-11 Desenio + Poster Store 2020-01 Data source: Google Trends 2020-03 2020-05 BUSINESS UPDATE 2020-07 2020-09 2020-11 2021-01 2021-03 Desenio Group 2021-05 2021-07 2021-09 Juniqe 2021-11 2022-01 2022-03 2022-05 2
Slide 10: Sweden share of voice
Desenio + Poster Store Data source: Google Trends BUSINESS UPDATE 10% 20% 30% 40% 60% 70% 80% 90% 100% 50% 0% 2019-01 2019-03 2019-05 2019-07 2019-09 2019-11 2020-01 2020-03 2020-05 2020-07 2020-09 2020-11 2021-01 Desenio Group 2021-03 2021-05 2021-07 2021-09 Gallerix 2021-11 2022-01 2022-03 2022-05
Slide 11: US share of voice
10% 20% 30% 40% 50% 60% 80% 90% 100% 0% 70% 2019-01 2019-03 2019-05 2019-07 2019-09 * Desenio + Poster Store 2019-11 Data source: Google Trends 2020-01 2020-03 BUSINESS UPDATE 2020-05 Desenio 2020-07 2020-09 2020-11 2021-01 Postery 2021-03 2021-05 2021-07 2021-09 2021-11 2022-01 2022-03 Fineartameri
Slide 12: Business update: sales by month
BUSINESS UPDATE 2025 250 Q1 200 150 100 50 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2019 2020 2021 2022 2023 2024 2025 12
Slide 13: Net sales by region
BUSINESS UPDATE 2025 -12% 140,0 120,0 114,3 100,2 100,0 -2% 80,0 -13% 60,0 54,1 53,2 42,1 -13% 40,0 36,6 18,3 16,0 20,0 0,0 Nordics Core Europe Rest of Europe Rest of World 2024 2025 13
Slide 14: Agenda: Financial update
• Q1 highlights • Business update • Financial update Add image or video here • Q1 Summary • Q&A 14
Slide 15: Financial update: cash flow, capex, NWC
FINANCIAL UPDATE 2025 0 200% 2024 Q1 2025 Q1 2024 Q1 2025 Q1 150% -17,7 -33 100% 0,2 0,0 -50 50% 2024 Q1 2025 Q1 -69 -4% 0% -7% -19,1 -100 -50% NWC/Net Sales LTM In SEK million. Capex excluding lease assets. Cash flow adjusted for restructuring of bonds 15
Slide 16: Financial update: adjusted EBITA and cash flow bridge
FINANCIAL UPDATE 2025 40,0 30,0 20,2 21,5 -0,5 Adjusted 20,0 operating cash 31,8 flow SEK -17.7 10,0 million -1,7 ,0 -10,0 -27,9 -6,9 -3,5 -20,0 -9,8 -30,0 -62,8 -32,8 -40,0 16
Slide 17: New shareholder and bond structure
FINANCIAL UPDATE 2025 ~33% of the total shares SEKm are listed New shareholder structure 1 100 Nominal value of the Bonds converted Bonds converted Existing restructured bonds to Private Shares to Listed Shares shareholders >70.6% <29.4% 95% 5% SEK 1,100m SEK 251m Existing bonds to be Desenio Group
Slide 18: Interest cost reduction
FINANCIAL UPDATE 2025 SEKm SEKm SEK 69m reduction 133 7.75% fixed rate 12.50% fixed rate 103 - 8.75% cash 107 - 3.75% PIK 12 22 73 34 1 2 3 2024 interest paid (gross) New cash interest 2024 adj EBITDA 2024 adj EBITA SS Interest Senior interest CF ▪ Desenio Group’s previous capital structure had SEK
Slide 19: Agenda: Q1 Summary
• Q1 highlights • Business update • Financial update Add image or video here • Q1 Summary • Q&A 19
Slide 20: Q1 Summary
Q1 SUMMARY • Restructuring of bonds and capital structure completed • Healthy capital structure Add image or • New BoD appointed after the end of the quarter video here • Clear strategy to reverse the negative sales trend • Take advantage of scalability • Continued work to reduce cost Add image or v
Slide 21: Q1 2025 Desenio Group
Q1 2025 DESENIO GROUP