Nelly Group Ab · OMXSTO:NELLY
Nelly Group Ab — Qliro Group — Q2 2020 Earnings Presentation
12 slides from Nelly Group Ab's earnings presentation, Jul 15, 2020
Slide 1: Qliro Group – Q2 Report
Qliro Group – Q2 Report Mathias Pedersen, CEO July 15, 2020
Slide 2: Good operational development in the quarter
Good operational development in the quarter • Loan book +29% • CDON Marketplace - External merchant sales +106% • Flat sales in the Nordics • Income +10% (adjusted) - Gross profit +87% • Successfully lowered costs • Volumes +9% • CDON Retail and increased efficiency • Onboarding of merchants - Net s
Slide 3: Growth in loan book, volumes and adjusted income
Growth in loan book, volumes and adjusted income One of the leaders in its markets SEKm Q2 20 Q2 19 Δ Overall strengthened market position in line with plans Total operating income, adjusted 94.8 86.1 10% Total operating income +10%, adjusted for one-offs whereof Payment solutions, adjusted 80.0
Slide 4: Loan book reached SEK 2.2 billion
Loan book reached SEK 2.2 billion Grown 35 percent per annum during last two years 2,111 2,151 2,125 2,070 Loan book grew 29%, driven by both Loans to the public, Payment 2,044 1,985 Payment solutions and Digital banking Loans to the public, Digital Banking 1,815 1,777 Externally financed, credit
Slide 5: Qliro AB’s balance sheet
Qliro AB’s balance sheet Focus on further expansion SEKm 2,856 2,856 64 7 Cash 63 139 Accounts payable • Payment services loan book amounted to SEK Other receivables Other liabilities 1,300m and personal loans to SEK 851m 350 Current investments • Public deposits increased with 59% to SEK 1,850m • S
Slide 6: Strong position in changing landscape
Strong position in changing landscape CDON’s external merchants doubled sales SEKm Q2 20 Q2 19 Δ Strong position in the changing retail landscape CDON Marketplace Total gross sales +44% Sales external merchants 421.7 204.8 106% Total gross profit +39% Net sales 45.6 24.2 89% CDON Marketplace
Slide 7: CDON has created a positive business spiral
CDON has created a positive business spiral Business model for growth More merchants 131 new added in quarter totaling 1,248 Leading to a wider product range Now about 8 million products Leading to lower prices as merchants Da Capo compete, e.g. in home electronics Combined with a lower cost
Slide 8: CDON has great momentum – LTM development
CDON has great momentum – LTM development Sales external merchants, SEKm Active customers, ‘000 Number of visits, ’000 +88% +14% +10% 1 325 1 988 106 534 1 744 96 774 704 2019 2020 2019 2020 2019 2020 Inventory, SEKm Gross profit, SEKm EBITDA, SEKm -62% +15 +22 107 211 226 25 41 3 2019 2020 2019 202
Slide 9: Profitable quarter despite tough market conditions
Profitable quarter despite tough market conditions Action program successfully increased efficiency SEKm Q2 20 Q2 19 Δ Flat sales in the Nordics in a very weak market Net Sales 393.4 424.3 -7% Very limited demand for key categories such as party dresses and bikinis whereof Nordics 375.1 379.9 -1
Slide 10: E-commerce cash flow
E-commerce cash flow Inventory focus generated strong cash flow 11 -6 • Net inventory decreased with SEK -101 -26 72 -5 -7 248 134m during the quarter as both 134 Nelly and CDON reduced inventory • Other operating net working capital 169 7 increased SEK 18m • Capex amounted to SEK 6m • Reduced debt
Slide 11: E-commerce balance sheet
E-commerce balance sheet Credit facility for e-commerce SEKm 848 848 116 Accounts payable Cash 248 • E-commerce net cash amounted to SEK 173m Accounts receivables 31 321 Other operating debt • Credit facility of SEK 75m utilized during Other receivables 65 the quarter • CDON’s continued transformati
Slide 12: THANK YOU
THANK YOU Next report released October 21 Nasdaq symbol QLRO Qliro Group AB (publ.) Box 195 25 SE-104 32 Stockholm +46 (0)10 703 20 00 ir@qlirogroup.com