Nobia Ab · OMXSTO:NOBI
Nobia Ab — Q3 2020 Earnings Presentation
12 slides from Nobia Ab's earnings presentation, Nov 3, 2020
Slide 1: Q3 2020 Results Presentation
Q3 2020 Results Presentation Jon Sintorn, CEO & Kristoffer Ljungfelt, CFO November 3, 2020
Slide 2: Highlights Q3
Highlights Q3 • Overall stabilization and recovery • Segments and geographies impacted by different phases of the pandemic • Strong stay-at-home trend supporting consumer sales in all markets • Project sales (B2B) UK lagging • Continued solid cash flow • New organizational structure in place 2
Slide 3: Nobia Group, Q3
Nobia Group, Q3 2019 2020 • Organic net sales declined by 2% Q3 Q3 – 3% increase in the Nordics and 10% increase in Central Europe Net sales (SEKm) 3,265 3,105 – 9% decline in the UK region as segments of the market are still in post lockdown recovery Organic growth 3% -2% • Lower EBIT driven by the
Slide 4: Kitchen market trend, Q3
Kitchen market trend, Q3 The Nordic market is deemed to be inline with previous year. Market growth in Denmark. Consumer demand benefitting from stay-at-home trend. Governmental lockdown measures in the UK from end March to June prevented markets from functioning normally. Consumer demand benefittin
Slide 5: Net sales, rolling 12 months
Net sales, rolling 12 months Group, by country Region UK, by segment Austria Netherlands 4% 6% Finland 7% Trade UK 31% Norway Retail 37% 10% 44% Sweden Project 13% Denmark 25% 23% 5 5
Slide 6: Nordic region, Q3 48% of Group sales
Nordic region, Q3 48% of Group sales 2019 2020 Q3 Q3 • Organic growth 3% – Organic growth was 6% excluding the impact from Net sales (SEKm) 1,501 1,491 conversion of own stores to franchise – Market share gains in Denmark – Stay-at-home trend supporting consumer demand Organic growth 1% 3% • Impact
Slide 7: UK region, Q3 42% of Group sales
UK region, Q3 42% of Group sales 2019 2020 • Organic growth was -9% (5) Q3 Q3 – Some market segments remain in post lockdown recovery mode – Stay-at-home trend supporting consumer demand Net sales (SEKm) 1,464 1,295 – Double digit growth in trade segment Organic growth 5% -9% • EBIT declined to SEK
Slide 8: Region UK, organic growth development
Region UK, organic growth development Organic growth, % 20 0 -3 -3 -14 -1 -8 -20 -28 -18 -40 -55 -60 -80 -86 -100 Jan Feb Mar Apr May Jun Jul Aug Sep 8 8
Slide 9: Central Europe region, Q3 10% of Group sales
Central Europe region, Q3 10% of Group sales 2019 2020 Q3 Q3 • Organic growth 10% – Pent-up consumer demand following corona Net sales (SEKm) 300 319 lockdown in Austria – Strong sales to social housing segment in Organic growth 0% 10% September in Netherlands • EBIT increase due to operational leve
Slide 10: Financial position
Financial position Cash flow 2019 2020 Q3 Q3 Operating cash flow 346 484 Operating cash flow improved Of w. operating profit 267 195 Operating cash flow improved to Of w. change in working capital 20 99 SEK 484m (346) Of w. investments in fixed assets -103 -50 – Favourable change in working capita
Slide 11: Summary
Summary • Market stabilization compared to first half year, underlaying demand ok • Recent events adds uncertainty, additional cost for managing the situation • Limited risk for temporary factory closures • Solid balance sheet to support exciting strategic agenda 11
Slide 12: igo
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