Slide 1: Interim Report: January-June 2021
I N T E R I M R E P O RT: JA N UA RY - J U N E 2 0 2 1 1
Slide 2: High growth and improved EBITA in the second quarter
HIGH GROWTH AND IMPROVED E B I TA I N T H E S E C O N D Q U A R T E R NET SALES NET SALES GROWTH 334.4 MSEK +12 % (Q2 2020 298.5MSEK) (Q2 2021 VS Q2 2020) EBITA EBITA GROWTH -16.7 MSEK +27 % (Q2 2020 -22.7MSEK) (Q2 2021 VS Q2 2020)
Slide 3: Second quarter in brief
SECOND QUARTER IN BRIEF Quarter Period MSEK 2021 2020 2021 2020 Change Change April-June April-June January-June January-June Net Sales 334.4 298.5 +12% 796.3 742.5 +7% Gross margin 37.7% 36.4% +1.3 p.p 34.7% 36.0% -1.3 p.p EBITA -16.7 -22.7 +27% -19.0 -21.9 +13% EBITA excl. items affecting -17.3 -3
Slide 4: Highlights from the second quarter
HIGHLIGHTS FROM THE SECOND QUARTER 4th of June, Bokusgruppen was listed on Nasdaq First North Premier Growth Market. Stores recovering with a positive net sales growth of 13%. Online channels had continued strong growth of 11%. Other products was launched at Akademibokhandeln.se.
Slide 5: Normal seasonal variations with positive trend
N O R M A L S E A S O N A L VA R I AT I O N S W I T H P O S I T I V E T R E N D FIRST HALF YEAR Net Sales and EBITA (MSEK,%, Q1 2019 – Q2 2021) 595 606 453 444 462 416 427 328 334 299 88,2 77,4 21,0 28,8 0,6 0,8 -2,4 -20,9 -16,7 -22,7 2019 2020 2021 2019 2020 2021 2019 2020 2019 2020 Q1 Q2 Q3 Q4 Net
Slide 6: Growth in all segments
GROWTH IN ALL SEGMENTS Net sales growth,% EBITA growth, MSEK MSEK Quarter Period (Q2 2021 VS Q2 2020) (Q2 2021 VS Q2 2020) 2021 2020 2021 2020 April-June April-June January-June January-June Net Sales 146.2 131.3 365.4 302.2 +11% +4.1 Bokus Online MSEK EBITA, % 3.4% 0.6% 5.3% 2.3% Akademibokhandeln
Slide 7: Long-term positive trend for Bokus Online
LO N G -T E R M P O S I T I V E T R E N D F O R BOKUS ONLINE Sales growth digital books (%. Q2 2021 LTM VS Q2 2020 LTM) Net Sales Bokus online Number of active customers bokus.com (MSEK. 2019 – Q2 2021 LTM) (Million customers. Q4 2019 – Q2 2021) +32% +26% +38% 758,0 772,8 709,6 0,957 0,960 0,923 587
Slide 8: Rapid growth in Akademibokhandeln Online
RAPID GROWTH IN AKADEMIBOKHANDELN ONLINE During Q2, Other products was launched at Akademibokhandeln.se Net sales Akademibokhandeln Online Share of online of Akademibokhandeln’s (MSEK. 2019 – Q2 2021 LTM) total sales (%. Q4 2019 - Q2 2021) +188% 12% 84,1 84,8 64,7 8% 7% 7% 5% 4% 29,4 2% Q1 LTM Q2 LT
Slide 9: Customers returning to Akademibokhandeln stores
C U S TO M E R S R E T U R N I N G TO A K A D E M I B O K H A N D E L N S TO R E S Share of stores with positive operating profit (Q2 2021 LTM) Net sales Akademibokhandeln Stores Share of Other products of total store sales (MSEK. 2019 – Q2 2021 LTM) (%. Q4 2019 – Q2 2021 LTM) +2% +3 p.p 1175,8 37%
Slide 10: Strong balance sheet and operational cash flow in line with seasonality
STRONG BALANCE SHEET AND O P E R AT I O N A L C A S H F L O W I N L I N E W I T H SEASONALITY Equity ratio Q2 2021 Operational cashflow (MSEK, Q4 2019 – Q2 2021) 229,6 189,4 45% 45% (31% in Q2 2020) Net debt/Adjusted EBITDA Q2 2021 LTM 23,8 22,9 1.4x Q4 Q1 Q2 Q3 Q4 Q1 Q2 (2.8x in Q2 2020) 2019 2020
Slide 11: Trending towards financial targets
T R E N D I N G TO W A R D S F I N A N C I A L TA R G E T S Net sales growth online channels Net sales growth stores EBITA (%, 2020 - Q2 2021 LTM) (%, 2020 – Q2 2021 LTM) (%, 2020 - Q2 2021 LTM) 4,8% 36% 4,7% 33% 25% Q1 LTM Q2 LTM 2020 2021 4,5% -13% Q1 LTM Q2 LTM -15% Q1 LTM Q2 LTM 2020 2021 2020 2
Slide 12: Positive outlook for the second half of the year
POSITIVE OUTLOOK FOR THE SECOND HALF OF THE YEAR Pandemic restriction withdrawal gives positive outlook for the second half of the year. Still uncertainties due to virus mutations. Increased focus on investments in digital development, e.g. Bokus Play functionality, Bokus delivery offering and Akade
Slide 13: Contact details
C O N TA C T D E TA I L S Maria Edsman Jane Jangenfeldt CEO CFO maria.edsman@bokusgruppen.com jane.jangenfeldt@bokusgruppen.com +46768882610 +46706049038