Nimbus Group Ab · OMXSTO:BOAT
Nimbus Group Ab — Q4 2022 Earnings Presentation
16 slides from Nimbus Group Ab's earnings presentation, February 2023
Slide 1: Nimbus Group fourth quarter report 2022
Nimbus Group fourth quarter report 2022 An excellent quarter ends a new record year Nimbus 465 Coupé 1
Slide 2: Today's Presenters
Today’s Presenters Jan-Erik Lindström Rasmus Alvemyr CEO CFO 2
Slide 3: Highlights of the fourth Quarter 2022
Highlights of the fourth Quarter 2022 • Sales increase by 25 % to 338 mSEK (271) • Improved EBITA to 10,3 mSEK (5,6) • EBITA margin 3,1 % (2,1 %) • Order book is 930 mSEK (1 139) • Some supply chain disturbances remain, but situation improving • Still softer demand for lower end boats < 1 mSEK, but
Slide 4: The full year 2022 – continuing to execute on strategy
The full year 2022 – continuing to execute on strategy • Sales increased by 20% to 1 751 mSEK (1 455) • EBITA amounted up by 16% to 193 mSEK (166) • Acquisition of Herholdt Andersen AS, Norway • Important steps taken in North America including local organisation • Prepared product portfolio for expa
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, Feb - Listed on Nasdaq First North • 2021, May - Acquisition of Marine Store • 2022, Feb - Acquisition of Herholdt Andersen AS • 2022, June - Own establishment
Slide 6: Asset-Light Production Platform
Asset-Light Production Platform Production facilities Internal production Scalable cost base Footprint Outsourced production Production efficiencies setup A modular boat-building process to Cost variability based on days achieve synergies while safeguarding to reduce cost – brand distinction and bra
Slide 7: Strong underlying market with fundamental drivers
Strong underlying market with fundamental drivers Overall wealth is increasing Even if there is a downturn coming we are at the 2019 level Increased popularity of “Staycation” This was a trend before the pandemic and continues Ageing boat fleet This is a fact both in Europe and USA Technical develop
Slide 8: Orderbook development
Orderbook development 1 241 • Orderbook decreased by 18 % compared with 1 139 L/Y driven by lower sales of low end boats SEKm 1 0511 051 • The orderbook in North America increased to 960 190 MSEK (+108% from L/Y) 930 854 • Orderbook well balanced geographically 708 731 • Orderbook in 2021 and beginn
Slide 9: Sales Development Per Market Q4 2022 vs Q4 2021
Sales Development Per Market Q4 2022 vs Q4 2021 SEKm • Strong and recovering demand in Europe, sales increased by +114% • Sales drop in Sweden due to weaker demand of mainly used boats and low end boats. • In Q4 2021 Swedish figures were strongly effected by pandemic effect • Sales contribution from
Slide 10: Continued Good Sales Development
Continued Good Sales Development • Organic growth in Q4 amounted to +21,5% and net sales increased by +25% • Net sales positively effected by currency • Q4 seasonally weaker quarter due to regional effects, especially in the Nordics • Organic growth FY 2022 amounted to +18,5% +4% SEKm +20% Distribut
Slide 11: EBITA Development
EBITA Development • Slightly improved EBITA-margin in Q4 to 3,1% (L/Y 2,1%) • Traditionally low levels in a seasonally weaker quarter • EBITA improvement driven by higher sales volumes and lower OPEX in relation to sales SEKm 12 3,1% 4% 250 14% 11,4% 11,0% 10 3% 12% 200 2,1% 3% 10% 8 150 2% 8% 6,8%
Slide 12: Working Capital
Working Capital • Increased NWC in Q4 due to seasonality effects (higher stock levels) • Temporarily increased stock levels related to supply-chain disturbances (safety stock, boats missing engines etc.) Expected to decrease gradually during 2023 • Low levels of NWC in 2021 and beginning of 2022 due
Slide 13: Financial Targets
Financial Targets FINANCIAL TARGETS FY 2022 Growth >10% +18,5% 11,0% EBITA margin 10% Capital No financial debt No financial debt structure Dividend proposal of Dividend policy 30% 1,50 SEK / share (19% of result). 13
Slide 14: Good traction on multi-level North American expansion plan
Good traction on multi-level North American expansion plan • Attractive and updated product portfolio • Several new product launches in Q1 2023 supporting the expansion • Strengthened dealer network in Q1 2023 by +20 locations ending up at 39 in total • Strengthened group presence with local organis
Slide 15: Ownership in Nimbus 20221231
Ownership in Nimbus 20221231 R12 Kapital 4 242 984 21,90% Håkan Roos (RoosGruppen) 2 092 307 10,80% ODIN Fonder 1 750 000 9,03% Nordnet Pensionsförsäkring 1 442 514 7,44% Fort Cambridge Investments S.A. 1 289 928 6,66% Celox Holding AB 800 000 4,13% Lazard Asset Management 770 166 3,97% Avanza Pensi
Slide 16: Q&A
Q&A Financial calendar: Q1 2023 report May 3rd 2023 Aquador 300 HT 16