Svedbergs Group Ab Class B · OMXSTO:SVED_B
Svedbergs Group Ab Class B — Svedbergs i Dalstorp — Q1 2024 Earnings Presentation
21 slides from Svedbergs Group Ab Class B's earnings presentation, Apr 24, 2024
Slide 1: Q1 2024
Q1 2024
Slide 2: Svedbergs Group invests in the finest independent brands in Europe
Svedbergs Group invest in the finest independent brands in Europe, that design, produce and market sustainable products and services for the bathroom. We will grow organically and through acquisitions that complement the current business through a broader geographical presence, new product categorie
Slide 3: Our brand companies
SVEDBERGS 3 GROUP Our brand companies Sales per segment, Q1 2024 SVEDBERGS Thebalux 18% Svedbergs ((}) Macro Design os Ca Ss sge ® ane Macro Design 51% % ROPER RHODES” —_ BATH 4% | © THEBALUX
Slide 4: Highlights Q1
4 Highlights Q1 • Strong start for 2024 • Very good performance in UK and NL, Roper Rhodes increased sales, gross margin and EBITA • A weaker sales development in the Swedish and Finnish markets in the Svedbergs segment • Macro Design and Cass • Improved gross margin • Continued commitment to sustai
Slide 5: Q1 in numbers
5 Q1 in numbers Net Sales Net Sales Net sales increases by 20% to 572 MSEK (476) MSEK Organic Growth -4% EBITA EBITA 84 MSEK (64), EBITA% 14,6% (13,5) MSEK Cash Flow Operations: - 49 MSEK (-3) Cash Flow MSEK Free Cash Flow: - 58 MSEK (-11) Net debt to EBITDA: Leverage 2.7 x (2.3) incl earn out UK an
Slide 6: Net Sales per segment/geography Q1
6 Net Sales per segment/ geography Q1 • Strong sales in Roper Rhodes and UK • The acquisition of Roper Rhodes and Thebalux have changed the market mix, Q1 30% in the Nordics • Soft demand in the Svedbergs segment • Thebalux and Netherlands stands for 18%
Slide 7: Svedbergs (Dalstorp, Västra Götaland, Sweden)
Svedbergs (Dalstorp, Västra Götaland, Sweden) • Turnover 2023: MSEK 504 “A room to live and enjoy” • FTE (SE, FI, NO, DK) 153 • Geography: Nordic Q1-24 Q1-23 Idx YTD 23 YTD 22 Idx Ext sales 113 146 78 480 569 84 EBITA 8 24 34 59 99 59 EBITA% 7,3 16,7 44 12,2 17,3 70
Slide 8: Macro Design (Laholm, Halland, Sweden)
Macro Design (Laholm, Halland, Sweden) • Turnover 2023: MSEK 170 • FTE (SE, NO) 46 “Attractive design, functionality and quality • Geography: Sweden and Norway at a lower price four our planet. The bathroom of the future" Q1-24 Q1-23 Idx YTD 23 YTD 22 Idx Ext sales 42 44 96 163 193 85 EBITA 4 4 107
Slide 9: Cassøe (Herning, Jylland, Denmark)
Cassøe (Herning, Jylland, Danmark) ”Cassøe markets and distributes • Turnover 2023: MSEK 89 designed quality products with • FTE (DK) 15 the customer in focus” • Geography: Denmark and Norway Q1-24 Q1-23 Idx YTD 23 YTD 22 Idx Ext sales 23 24 96 88 94 94 EBITA 4 5 89 18 20 89 EBITA% 19,6 21,1 93 20,2
Slide 10: Roper Rhodes (Bath, UK)
Roper Rhodes (Bath, UK) • Turnover 2023: MSEK 1 062 “UK's bathroom brand of choice, by providing • FTE (UK, IRE) 209 excellent and sustainable products and services • Geography: UK and Ireland through all touch points with our customers and consumers” Q1-24 Q1-23 Idx YTD 23 YTD 22 Idx Ext sales 289
Slide 11: Thebalux (Zutphen/Veghel, the Netherlands)
Thebalux (Zutphen/Veghel, the Netherlands) • Turnover 2023*: MSEK 375 • FTE (NL) 96 • Geography: NL, DE, BE * Proforma Q1-24 Q1-23 Idx YTD 23 YTD 22 Idx Ext sales 105 - 30 - EBITA 26 - 1 - EBITA% 24,8 3,3
Slide 12: Q1 in numbers
| SVEDBERGS GRol Q1 in numbers i
Slide 13: Net Sales development - Quarter 1 2024
13 Net Sales development - Quarter 1 2024 • Net sales for the period amounted to SEK 572 million (476), corresponding to an increase of 20 percent compared to the previous year 20% 572 • Organic growth -4 percent 105 • The acquisition of Thebalux had a 476 -19 positive impact of 22% 10 • Currency po
Slide 14: Net Sales Development Q1 2024
14 Net Sales Development Q1 2024 • Good development of Net Sales • Positive impact by the acquisition of Thebalux • Roper Rhodes performs well, organic growth positive with 6 percent
Slide 15: Profit & Margins Q1 2024
15 Profit & Margins Q1 2024 • Improved Gross Margin due to good performance in Roper Rhodes and acquisition of Thebalux • Price adjustments made and cost reductions achieved • Improved EBITA and EBITA Margin due to the strong Gross Margin and good cost control
Slide 16: Cash flow and Financial position Q1
16 Cash flow and Financial position Q1 • Free Cash Flow impacted by increased accounts receivables and payments of customer bonuses 2024 2023 • Investments mainly assigned to production equipment, product development and IT Q1 Q1 Equity ratio, % 49 43 Net Debt, Mkr 855 654 Investments, Mkr 9 8 • Inc
Slide 17: Net debt and leverage
17 Net debt and leverage • Net debt 855 MSEK (654) YTD • Net debt IFRS 16 impact MSEK 80,5 (32,1) • Net Debt/EBITDA at 2.7 (2.3) incl Earn Out Roper Rhodes and Thebalux, MSEK 196 (160)
Slide 18: Outlook and summary
18 Outlook and summary • Cooperation and integration of Thebalux into the group • Launch new products and drive proactive sales to increase our market presence. Drive Operational excellence • Sustainability in all that we are doing • Looking for potential acquisitions that complement the group
Slide 19: Questions
19 Questions • We will now answer questions live and previously sent to ir@svedbergsgroup.com • To participate, please follow the link in the press release from 15 April, which you find on www.svedberggroup.se under Press.
Slide 20: Per-Arne Andersson, CEO; Ann-Sofie Davidsson, CFO
20 Per-Arne Andersson, CEO Ann-Sofie Davidsson, CFO
Slide 21: Q&A
Q&A Per-Arne Andersson CEO Ann-Sofie Davidsson CFO