Nelly Group Ab · OMXSTO:NELLY
Nelly Group Ab — CDON Group — Q1 2013 Earnings Presentation
17 slides from Nelly Group Ab's earnings presentation, Apr 17, 2013
Slide 1: Rights Issue & First Quarter Financial Results 2013
Rights Issue & First Quarter Financial Results 2013 17 April 2013 The following presentation is not a prospectus. Its purpose is to serve as information regarding the announced rights issue in CDON Group AB (publ) ("CDON Group"). This presentation must not be made public, published or distributed, i
Slide 2: CDON Group AB carries out a rights issue of c. SEK 500 million
CDON Group AB carries out a rights issue of c. SEK 500 million and announces a target of doubled sales The Board of Directors has resolved upon a rights issue of SEK 500 million in order to strengthen the capital structure. The Board of Directors’ resolution is subject to approval by the sharehold
Slide 3: Commitment and guarantee
Commitment and guarantee The rights issue is subject to approval at the EGM on 14 May 2013 (same day as the AGM) 100% of rights issue secured by subscription undertaking and guarantee commitment from Kinnevik Subscription undertaking by Kinnevik for c. 25% of the rights issue In addition, In
Slide 4: Preliminary timetable
Preliminary timetable Key dates Date Event 10 May 2013 The complete terms and conditions of the rights issue are announced 14 May 2013 EGM resolves on approval of the Board of Directors’ rights issue resolution (AGM held on the same day) 15 May 2013 First day of trading excluding subscription rights
Slide 5: First Quarter Financial Results
First Quarter Financial Results Highlights • Continued year on year sales growth of 10 % in the first quarter to SEK 1,051 mn • Accelerated growth in Gymgrossisten.com combined with strong operating profit • CDON.com keeps broadening its range and shows continued growth in tough market • Nelly.com k
Slide 6: Financial Summary
Financial Summary Entertainment Fashion Sports & Health Home & Garden Q4 Q1 FY12 Q1 FY12 Q1 FY12 Q1 FY12 Q1 FY12 Net sales (mn) 512.4 2,386.0 223.8 942.9 176.8 496.4 143.2 631.6 1,051.1 4,461.7 Growth yoy 5.8% 24% 14% 29% 39% 32% -2% 71% 10% 31% Sales share 49% 53% 21% 21% 17% 11% 14% 14% 100% 100%
Slide 7: Entertainment
Entertainment Continued sales growth despite market decline for media products Operating development • Segment sales up 6% y/y in Q1 600 8,0% 484 512 • Continued growth in consumer electronics & strong 500 revenue growth in toys, baby clothes and other baby 6,0% 400 SEK (million) Margin products 5,0
Slide 8: Fashion
Fashion Sales growth with improved operating result Operating development • Sales increased by 14% y/y in Q1 250 196 224 10,0% • Continued positive sales development trend 200 0,0% 150 -10,0% SEK (million) Margin -7,8% • Sale of Heppo.com after the end of the quarter 100 -19,6% -20,0% 50 -30,0% • Op
Slide 9: Sports & Health
Sports & Health 39% year on year revenue growth in Q1 Operating development • Sales up 39% y/y in Q1 200 177 12,0% • Strong growth in all markets resulting in increased 10,1% 128 10,4% market shares and strengthened position SEK (million) Margin 8,0% • Launch of Milebreaker.com after the end of the
Slide 10: Home & Garden
Home & Garden Relocation of Tretti’s operations from Stockholm to Malmö finalized Operating development • The segment’s sales amounted to SEK 143.2 (146.3) mn in Q1 150 146 143 7,0% 100 5,0% • Sales growth in Room21 according to plan SEK (million) 3,0% Margin 50 • Operating profit of SEK -3.4 (-5.9)
Slide 11: CDON Group Logistics
CDON Group Logistics • On 1 October 2012 CDON Group acquired the logistics operations of the Business Linc BL AB in Falkenberg, which was integrated into the formed company CDON Group Logistics AB • The operating profit of CDON Group Logistics AB improved from SEK -19.4 mn in Q4 2012 to SEK - 12.1 m
Slide 12: Financial Performance & Position
Financial Performance & Position 12
Slide 13: Income Statement
Income Statement 2013 2012 • Net interest & other financial items of (SEK million) Jan-Mar Jan-Mar SEK -12.3 (-5.4) mn in Q4 mainly Net Sales 1,051.1 954.3 Gross profit 148.1 135.6 reflected interest costs from: Gross margin (%) 14.1% 14.2% • The Group’s revolving credit facility Operating profit -7
Slide 14: Financial Position
Financial Position 2013 2012 (SEK million) 31-Mar 31-Mar • Capital employed increased y/y to SEK 873.0 Total non-current assets 680.0 611.8 mn in Q1 Inventories 643.9 509.6 • Return on capital employed declined y/y to Total receivables 203.2 143.5 -22.4% (13.1%) in Q1, which is due to the Cash and c
Slide 15: Cash Flow
Cash Flow 2013 2012 (SEK million) Jan-Mar Jan-Mar • Cash flow from operating activities before Cash flow from operating -62.0 -32.8 changes in working capital of SEK -62.0 activities (-32.8) mn in Q1 Changes in working capital -265.1 -201.7 Cash flow from operations -327.1 -234.5 • SEK -265.1 (201.7
Slide 16: For further information, please visit www.cdongroup.com
For further information, please visit www.cdongroup.com or contact: CDON Group Investor Relations + 46 (0) 70 080 75 04 ir@cdongroup.com Follow us on Twitter: http://twitter.com/#!/cdongroup
Slide 17: IMPORTANT INFORMATION
IMPORTANT INFORMATION In certain jurisdictions, the publication or distribution of this presentation may be subject to restrictions according to law and persons in those jurisdictions where this presentation has been published or distributed should inform themselves about and abide by such restricti