Desenio Group Ab · OMXSTO:DSNO
Desenio Group Ab — Q2 2023 Earnings Presentation
21 slides from Desenio Group Ab's earnings presentation, Aug 24, 2023
Slide 1: Q2 Result Presentation
Q2 RESULT PRESENTATION 24 August 2023
Slide 2: Agenda
AGENDA Q2 highlights Business update Financial update Q2 Summary Q&A 2
Slide 3: Q2 Highlights
Q2 HIGHLIGHTS • Net sales increased by 0.9% to SEK 184.5 million • Sales development similar across geographic markets • Order intake in North America increased by 29% • Continued focus on increasing efficiency and strengthening market position • Repurchased 3.2% of own corporate bonds at 70% of nom
Slide 4: Q2 Highlights
Q2 HIGHLIGHTS • Profitability was higher than in the corresponding period in 2022 • Despite higher marketing expenses and excluding extraordinary cost of SEK 10.8 million in Q2 2022 • Efficiency improvements compensated for higher spend on marketing • Admin & Other was SEK 15 million lower in Q2 202
Slide 5: Q2 Highlights
Q2 HIGHLIGHTS • Adjusted EBITA amounted to SEK 4.8 (-8.4) • Adjusted EBITA margin increased to 2.6 (-4.6) % - fifth quarter in a row with increasing margins • Cash flow from operating activities amounted to SEK -37.7 (9.3) million • Negative cash flow effect from operating activities (SEK -17 millio
Slide 6: In Summary Q2 2023
IN SUMMARY Q2 2023 +0,9% 84% 2,6% -37,7 MSEK 184,5 (9,3) (83,1%) (-4,6%) MSEK NET SALES GROSS MARGIN ADJUSTED EBITA OPERATIONAL CASH FLOW 6
Slide 7: Adjusted EBITA margin bridge
Adjusted EBITA margin bridge * * 8.6 percentage points including the one-off cost of 10.8 million in Q2 2022 7
Slide 8: Agenda
AGENDA Q2 highlights Business update Financial update Q2 Summary Q&A 8
Slide 9: Sales stronger than overall market search trends
2019-2 2019-7 2019-12 Jan 2019 2019-17 2019-22 2019-27 2019-32 2019-37 2019-42 2019-47 2019-52 2020-5 2020-10 Jan 2020 2020-15 2020-20 2020-25 2020-30 2020-35 2020-40 2020-45 Graphs apply 5 week moving average trend 2020-50 2021-2 2021-7 2021-12 Jan 2021 2021-17 2021-22 2021-27 2021-32 2021-37 2021-
Slide 10: Search share of voice stable in both Germany and the UK
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 01-2019 03-2019 05-2019 07-2019 09-2019 11-2019 01-2020 03-2020 05-2020 07-2020 09-2020 Desenio Group 11-2020 01-2021 Juniqe 03-2021 05-2021 07-2021 Postery 09-2021 11-2021 DE Brand Search Share of Voice 01-2022 03-2022 Posterlounge 05-2022 07-2022 09-2022
Slide 11: Conversion rate consistent and traffic lower than last year
CONVERSION RATE CONSISTENT AND TRAFFIC LOWER THAN LAST YEAR Conversion rate for all Desenio Group sites Q2 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2019 2020 2021 2022 2023 *Sessions for all Desenio Group sites Q2 Jan Feb Mar Apr May Jun July Aug Sep Oct Nov Dec 2019 2020 2021 2022 2023 *Data
Slide 12: Q2 2023 Gross Order Intake
Q2 2023 GROSS ORDER INTAKE 250 DESENIO GROUP GROSS ORDER INTAKE* Q2 200 150 100 50 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2019 2020 2021 2022 2023 *Desenio + Poster Store Data source: FLOW 12
Slide 13: Q2 YoY growth per segment
Q2 YOY GROWTH PER SEGMENT GROSS ORDER INTAKE PER SEGMENT (SEKm) -1% 92 91 -1% -5% 43 43 39 37 +17% 18 16 Nordics Core Europe Rest of Europe Rest of World 2022 2023 13
Slide 14: Customer Highlights
CUSTOMER HIGHLIGHTS ACTIVE CUSTOMERS* (thousands) VISITS (thousands) ORDERS (thousands) * Number of customers who have completed at least one order during the previous 24-month period. 14
Slide 15: Agenda
AGENDA Q2 highlights Business update Financial update Q2 Summary Q&A 15
Slide 16: Financial Highlights
FINANCIAL HIGHLIGHTS NET SALES (SEK million) GROSS MARGIN ADJUSTED EBITA (SEK million) 16
Slide 17: Cash Flow Highlights
CASH FLOW HIGHLIGHTS CAPEX (SEK million) NET WORKING CAPITAL (SEK million) OPERATIONAL CASH FLOW (SEK million) CAPEX is fixed assets and intangible assets. Lease assets excluded. 17
Slide 18: Operating Cash Flow Break Down
OPERATING CASH FLOW BREAK DOWN * Capital gain from the bond buy back is not included as it doesn’t affect cash flow. 18
Slide 19: Agenda
AGENDA Q2 highlights Business update Financial update Q2 Summary Q&A 19
Slide 20: Q2 2023 Summary
Q2 2023 SUMMARY • Positive growth trend • We are back to sales growth in Q2 and entering the third quarter of the year with good growth • Increased efficiency • Continued uncertainty about consumer behaviour in the coming quarters • Focus on growth initiatives in North America as well as in our othe
Slide 21: Desenio Group
21 DESENIO GROUP