Duni Ab · OMXSTO:DUNI
Duni Ab — Q2 2013 Earnings Presentation
17 slides from Duni Ab's earnings presentation, Jul 12, 2013
Slide 1: Q2 Presentation 2013
Q2 Presentation 2013 12 July, 2013
Slide 2: Disclaimer
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 this prese
Slide 3: 2013 Q2 Highlights
2013 Q2 Highlights • Net sales SEK 914 m • Professional – small growth in (934) comparable exchange rates. – Negative HoReCa statistics in the • Underlying operating majority of our markets, but income SEK 91 m (90) Business Area on par with last year. – Song Seng Associates Pte. Ltd. • Underlying o
Slide 4: Market Outlook
Market Outlook • HORECA market long-term growing in line or slightly above GDP. – Latest statistics indicate small volume decrease, including Germany. – Higher growth in take-away, catering and fast food restaurants. • Macro statistics – latest statistics indicate real GDP growth on par or slightly
Slide 5: HoReCa Sales Development
HoReCa Sales Development Germany April 2013 Source: destatis Impression from the flooded areas in Germany. Only in Passau (picture) more than 70 restaurants and hotels were seriously affected 5
Slide 6: Restaurant Sales Development
Restaurant Sales Development Sweden (May 2012 – May 2013) +2,7% in volume in Feb and +4,7% in value. 6
Slide 7: Business Areas
Business Areas
Slide 8: Professional
Professional –Strong SEK continue to weight on the quarter Sales and EBIT 1) Geographical split – sales Q2 2013 Net sales Q2 2013 Q2 2012 Growth Growth at Professional fixed exchange 3 000 16% rates 2 500 14% 12% SEK millions 2 000 10% Nordic 156 160 -2.5% -2.5% 1 500 8% 6% Central 1 000 4% Europe 3
Slide 9: Consumer
Consumer – Growth within all major regions Sales and EBIT 1) Geographical split - sales Q2 2013 Net sales Q2 2013 Q2 2012 Growth Growth at Consumer fixed exchange rates 1 000 6% 4% Nordic 23 18 27.8% 27.8% 800 2% Central Europe 92 103 -10.7% -5.8% SEK millions 600 0% South & East 400 -2% Europe 4 4
Slide 10: Tissue
Tissue – Temporary increase in production output Sales and EBIT Sales mix Q2 2013 600 14% External 12% 46% 500 400 10% 8% 300 6% Internal 200 4% 54% 100 2% 0 0% 2009 2010 2011 2012 LTM 2013 • Sales on planned levels during transition phase for hygiene divestment. Sa les EBIT Ma r g in • Profit impro
Slide 11: Financials
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Slide 12: Operating margin 10.0%
Operating margin 10.0% Q2 Q2 YTD YTD LTM FY 2013 2012 2013 2012 2013 2012 SEKm Net sales 914 934 1 766 1 790 3 645 3 669 Gross profit 239 245 458 472 932 945 Gross margin 26.1% 26.2% 25.9% 26.4% 25.56% 25.8% Selling expenses -102 -108 -216 -230 -424 -438 Administrative expenses -41 -40 -80 -83 -173
Slide 13: Good development in Prof. & Tissue
Good development in Prof. & Tissue Q2 Q2 YTD YTD LTM FY SEKm 2013 2012 2013 2012 2013 2012 Professional Net sales 681 699 1 266 1 324 2 624 2 682 Operating income1) 94 90 147 151 333 337 Operating margin 13.8% 12.9% 11.6% 11.4% 12.7% 12.6% Consumer Net sales 119 126 259 253 557 551 Operating income1
Slide 14: Capex on low levels
Capex on low levels Q2 Q2 YTD YTD LTM FY SEKm 2013 2012 2013 2012 2013 2012 EBITDA1) 120 118 205 206 453 454 Capital expenditure -15 -27 -30 -66 -77 -113 Change in; Inventory -7 12 -60 -4 10 66 Accounts receivable -52 -57 -41 18 -39 20 Accounts payable -32 -1 -39 -16 -16 7 Other operating working ca
Slide 15: Stable balance sheet
Stable balance sheet Q2 FY Q2 SEKm 2013 2012 2012 Goodwill 1 199 1 199 1 199 Tangible and intangible fixed assets 768 795 891 Net financial assets1) 200 205 222 Inventories 450 387 469 Accounts receivable 669 624 636 Accounts payable -261 -301 -282 Other operating assets and liabilities3) -312 -286
Slide 16: Financial Targets
Financial Targets Q2 LTM 2013 • Organic growth of 5% over a 0.2% Sales growth > 5% business cycle (at fixed exchange rates) • Consider acquisitions to reach new markets or to strengthen current market positions • Top line growth – premium focus 9.3% EBIT margin > 10% Underlying • Improvements in man
Slide 17: Thank you!
Thank you! 17