Duni Ab · OMXSTO:DUNI
Duni Ab — Q1 2021 Earnings Presentation
18 slides from Duni Ab's earnings presentation, Apr 22, 2021
Slide 1: Q1 Presentation, 2021
Q1 Presentation, 2021 April 22, 2021
Slide 2: Disclaimer
2021-04-21 Disclaimer • This presentation has been prepared by Duni AB (the “Company”) solely for use at this investor presentation and is furnished to you solely for your information and may not be reproduced or redistributed, in whole or in part, to any other person. By attending the meeting where
Slide 3: The period in short
2021-04-21 The period in short • New COVID-19 waves and slow vaccination continues to effect markets. • Strong take-away trend continues, BioPak nearly doubles operating income. • Current adjusted loan agreement prolonged another two quarters. • Market outlook still with high uncertainty, but light
Slide 4: 2021 Q1 Highlights
2021-04-21 NET SALES 2021 Q1 Highlights SEK 932 m (1 249) Net Sales -25% • Restrictions significantly impact Duni Group throughout the quarter. OPERATING INCOME • The sales in business area Duni continues on low levels as SEK -41 m restaurants are forced to limit or fully close on premises dining in
Slide 5: Business area Duni
2021-04-21 Business area Duni Business area Duni stands for what the Group is traditionally associated with – innovative and sustainable solutions for the set table, primarily napkins, table covers and candles. 5
Slide 6: Duni Q1, 2021
2021-04-21 Duni Q1, 2021 Net Sales per region • Net Sales SEK 401 m (811), Operating Income SEK -83 SEK m Q1 Q1 LTM FY m (56). 2021 2020 20/21 2020 • Low sales throughout the quarter as restrictions NorthEast 59 128 354 423 continue, but with gradual improvement. Central 173 391 908 1 126 • Main cus
Slide 7: Business area BioPak
2021-04-21 Business area BioPak Business area BioPak offers environmentally- sound concepts for meal packaging and serving products for applications including take-away, ready-to-eat meals, and various types of catering. 7
Slide 8: BioPak Q1, 2021
2021-04-21 BioPak Q1, 2021 Net Sales per region • Net Sales SEK 531 m (439), Operating Income SEK 43 m (24). SEK m Q1 Q1 LTM FY 2021 2020 20/21 2020 • Increased demand for take-away products continue NorthEast 106 104 436 434 as restrictions on sit down restaurants are kept in Central 77 56 254 232
Slide 9: COVID-19 Situation, Actions & Outlook
2021-04-21 COVID-19 Situation Actions & Outlook • Delay in vaccination roll out resulted in prolongation of lock downs in almost all markets. • Strong resilience within our main segment, HoReCa – Demand to eat, meet and travel still there and expected to recover fast once possible. • Although sharp
Slide 10: Well positioned for the future
Well positioned for the future Trends of digitalization, customer experience and sustainability have increased during the pandemic but also hygiene have become increasingly important. Duni Group have and continues to make significant changes and efforts in all areas to be well positioned for a post-
Slide 11: Q1 Company Presentation
2021-04-21 Q1 COMPANY PRESENTATION 11
Slide 12: Financials
2021-04-21 Financials "\7 DUNI ip BioPak 2 GROUP
Slide 13: Income Statement
2021-04-21 Income Statement SEK m Q1 Q1 LTM FY 2021 2020 20/21 2020 Net sales 932 1 249 4 184 4 501 Gross profit 104 291 626 814 Gross margin 11.2% 23.3% 15.0% 18.1% Selling expenses -117 -163 -469 -514 Administrative expenses -59 -72 -253 -265 R & D expenses 0 -2 -3 -5 Other operating net 16 -15 -7
Slide 14: Business area Financials
2021-04-21 Business area Financials SEK m Q1 Q1 LTM FY 2021 2020 20/21 2020 Duni Net Sales 401 811 2 217 2 628 Operating income 1) -83 56 -132 7 Operating margin -20.8% 6.9% -6.0% 0.3% BioPak Net Sales 531 439 1 966 1 874 Operating income 1) 43 24 160 142 Operating margin 8.0% 5.5% 8.1% 7.6% Duni Gr
Slide 15: Operating Cash Flow
2021-04-21 Operating Cash Flow SEK m Q1 Q1 LTM FY 2021 2020 20/21 2020 Operating EBITDA 1) -5 119 180 305 Capital expenditure 1) -10 -26 -62 -77 Change in; Inventory -54 -62 -103 -111 Accounts receivable 62 105 244 287 Accounts payable -58 -94 -31 -66 Other operating working capital -31 -82 -33 -84
Slide 16: Financial position
2021-04-21 Financial position SEK m March 2021 December 2020 March 2020 Goodwill 2 045 2011 2 047 Tangible and intangible fixed assets 1 592 1 615 1 823 Net financial assets 1) 38 -22 -51 Inventories 937 861 864 Accounts receivable 554 599 836 Accounts payable -374 -422 -416 Other operating assets a
Slide 17: Financial targets
2021-04-21 Financial targets Sales growth Operating margin Dividend payout ratio > 5% > 10% 40+% ORGANIC GROWTH OF 5% TOP LINE GROWTH TARGET AT LEAST 40% OVER A BUSINESS CYCLE – PREMIUM FOCUS OF NET PROFIT Consider acquisitions to reach new Improvements in manufacturing, markets or to strengthen cur
Slide 18: Thank you!
Thank you! DUNI ip BiePak GROUP