Nimbus Group Ab · OMXSTO:BOAT
Nimbus Group Ab — Q1 2022 Earnings Presentation
16 slides from Nimbus Group Ab's earnings presentation, 2022
Slide 1: Nimbus Group first quarter report 2022
Nimbus Group first quarter report 2022 A good start despite supply-chain disturbances 1
Slide 2: Today's presenters
Today’s presenters Jan-Erik Lindström Rasmus Alvemyr CEO CFO 2
Slide 3: Highlights of the first quarter 2022
Highlights of the first quarter 2022 • Sales increased by 46 % to 287 mSEK (196) • EBITA amounted to 6,2 mSEK (5,6) • EBITA margin 2,2 % (2,9%) • Order book is now 1 241 mSEK (Q4 1 139) • Acquisition of Herholdt Andersen AS in Norway • Supply chain disturbances continues • Capacity increases well un
Slide 4: Acquisition of Herholdt Andersen AS in Norway
Acquisition of Herholdt Andersen AS in Norway Sales of 94 mNOK in 2021 EBITDA 19 mNOK Purchase price 76 mNOK Accretive to Nimbus Groups EPS 2022 Full service high quality boat dealer in a strategic boating area Including service and repair 4
Slide 5: This is Nimbus Group
This is Nimbus Group • Founded in 1968 • Long history of international sales • True house of brands • Well-known Scandinavian brands • 2021, 9th Feb listed on Nasdaq First North • 2021, 17th May acquisition of Marine Store • 2022, 17th Feb acquisition of Herholdt Andersen AS 5
Slide 6: Asset light production platform
Asset light production platform Production facilities Internal production Footprint Outsourced production Scalable cost base setup Production efficiencies Cost variability based on days A modular boat-building process to to reduce cost – achieve synergies while safeguarding brand distinction and bra
Slide 7: Strong underlaying market with fundamental drivers
Strong underlaying market with fundamental drivers New powerboat sales, ‘000 boats Overall wealth is increasing CAGR: 6.7% CAGR: 7.6% 142 151 124 133 109 117 103 101 106 77 86 65 74 Increased popularity of “Staycation” 2013 2014 2015 2016 2017 2018 2019 2020F 2021F 2022F 2023F 2024F 2025F NORTH AMER
Slide 8: Continuous growth in the orderbook - only planned production orders counted
Continuous growth in the orderbook - only planned production orders counted • Since not all orders can be confirmed due to capacity 1 241 restraints, there is a substantial amount of non- 1 139 SEKm confirmed orders on top of the order book. • 1st quarter orderbook increased by 9 % from Q4 and 960 4
Slide 9: Sales development per market Q1 2022 vs Q1 2021
Sales development per market Q1 2022 vs Q1 2021 SEKm • Continued strong sales development on all markets • Swedish market weaker due to supply chain disturbances affecting delivery schedule. Positively affected by Marine Store (25 mSEK) • Sales in the Nordic market have been positively affected by H
Slide 10: Continued good sales development
Continued good sales development • Organic growth of´+44% in the quarter Sales by own resellers lower this quarter IFRS SEKm 74% 71% +67% +6% 1546 1455,4 927,4 +46% 26% 29% 287 196 2022 2021 2020 2021 Q1 2022 LTM Q1 2021 Q1 2022 10
Slide 11: EBITA development
EBITA development SEKm 180 14% 20 14% 160 11,4% 18 10,8% 12% 12% 140 16 10% 14 10% 120 12 100 6,8% 8% 8% 10 80 6% 6% 8 60 4% 6 4% 2,9% 40 2,2% 4 2% 2% 20 2 63 166 167 5,6 6,2 0 0% 0 0% 2020 2021 Q1 2022 LTM 2021 Q1 2022 Q1 EBITA EBITA-margin EBITA EBITA-margin 11
Slide 12: Working capital
Working capital • Increased NWC in the period due to seasonality • Increased NWC in relation to Q1-21 due to the acquisions of Marine Store and Herholdt Andersen • NWC / LTM sales in Q1 16,7% (L/Y 19,4%) • Disturbances in supply-chain has led to a temporary build-up of inventory • Acquisition of Her
Slide 13: Financial targets
Financial targets FINANCIAL TARGETS 2022 Growth >10% +6% (Q1 LTM vs. FY 2021) EBITA margin 10% 10,8% Capital structure No financial debt No financial debt Dividend proposal FY 2021 Dividend policy 30% 1,50 SEK / share (22% of net result FY -21) 13
Slide 14: In focus – going forward
In focus – going forward • Continued expansion in North America • Capacity and supply-chain restrictions • Aftermarket sales • Production efficiency • Product development • Sustainability in all our processes 14
Slide 15: Ownership in Nimbus 20220331
Ownership in Nimbus 20220331 # Owner Nr of shares Value Share 1 R12 Kapital 4242984 241850088 21,90% 2 Håkan Roos (RoosGruppen) 1942307 110711499 10,02% 3 ODIN Fonder 1676000 95532000 8,65% 4 Nordnet Pensionsförsäkring 1544047 88010679 7,97% 5 OP Fonder 1300000 74100000 6,71% 6 Fort Cambridge Invest
Slide 16: Q & A
Q&A A kind reminder: AGM May 18, Stockholm at 2:00 p.m. on May 18, 2022 at Flipper Marin on Hamnvägen 8 in Täby. Followed by a product demonstration. Welcome! Q2 2022 July 19 16