Anora Group Oyj · OMXHEX:ANORA
Anora Group Oyj — Shareholder Meeting (April 2023)
26 slides from Anora Group Oyj's shareholder meeting presentation, Apr 19, 2023
Slide 1: Anora Group Plc's Annual General Meeting 19 April 2023
Anora Group Plc´s Annual General Meeting 19 April 2023 CEO Pekka Tennilä
Slide 2: Agenda
Agenda • Anora in brief • 2022 highlights • Key financials 2022 • Focus on 2023 Varsinainen yhtiökokous | 19.4.2023 | 2
Slide 3: Anora's Executive Management Team
Anora’s Executive Management Team Pekka Tennilä Janne Halttunen Kirsi Puntila Hannu Tuominen CEO SVP, Wine SVP, Spirits SVP, Industrial Sigmund Toth CFO Kirsi Lehtola CHRO Previously served as International career in the Long career with global Previously served as Chief Executive Officer, beverage
Slide 4: The leading wine and spirits brand house in the Nordic region
The leading wine and spirits brand house in the Nordic region and an industry forerunner in sustainability Distillery Production Net sales Personnel Logistics Sales 703 1 250 Head office EUR million The leading player in the Nordic region Nordic Wine Spirits Exports to leader in over #1 #1 30 sustai
Slide 5: Net sales
Net sales Industrial Industrial Sweden 23% 23% 27% Wine Travel 44% Anora retail & Beverage Net sales exports Net sales brands Partner net sales 48% by 5% by brands by brand segments Baltics countries 52% categoroies 3% Denmark Norway Spirits 9% 19% 33% Finland 15% Net sales split by internal reporti
Slide 6: Strong and versatile portfolio of leading own and partner brands
Strong and versatile portfolio of leading own and partner brands Key Anora brands Key partner brands Wine Wine Spirits Spirits Annual General Meeting | 19 April 2023 | 6
Slide 7: State-of-the-art supply chain based on recycling
State-of-the-art supply chain based on recycling Industrial and logistics business Sustainability, innovation, premium quality and efficiency - all in one Ashes Feed 32-37% of used as fertilizer barley used in feen Logistics Industrial component (Vectura) production services 15% 35% FOCUS Grain spir
Slide 8: Highlights 2022
Highlights 2022 • Succesful integration • Acquisition of Globus Wine A/S and the leading position in Danish wine market • Long term financial targets, strategy and sustainability road map 8
Slide 9: Post-merger integration proceeded as planned
Post-merger integration proceeded as planned Growth driven by strong brandportfolio and competent personnel. Increased scale and control of operations leads to reduced carbon footprint and improved efficiency. Integration initiatives • Reorganisation of the wine business • A joint on-trade excellenc
Slide 10: Globus Wine - a forerunner in sustainability
Globus Wine - a forerunner in sustainability The leading wine company in Denmark strengthens Anora’s position in Nordic wine market and competiveness in volume products. Close to market packing reduces CO2 foot • Strong own brands print significantly. • Filling services -72% avoidance in • Net sales
Slide 11: Delivering growth through sustainability
Delivering growth through sustainability Faster-than-market growth (1.5x) in our core monopoly markets Share of international1 from ~10% (today) to ~20% (future) 3–5% Annual net sales growth Including M&A, majority is organic Hero brands from ~15% (today) to ~30% (future)2 Self-funding of investment
Slide 12: Our growth strategy up to 2030
Our growth strategy up to 2030 Lead category growth Scale our position in across consumer occasions Denmark and the Baltics and channels in the Swedish, to cement our regional Norwegian and Finnish markets as OUR AMBITION leadership the wine and spirits powerhouse Recognised #1 in ESG Accelerate bey
Slide 13: Our sustainability roadmap to growth
Our sustainability roadmap to growth Annual General Meeting | 19 April 2023 13 |
Slide 14: Key financials 2022
Key financials 2022 Exceptionally high input costs decreased profitability – net sales grew 5.7% Cash flow decreased due to increased working capital Net debt increased as a result of the acqusition Annual General Meeting | 19 April 2023 14 |
Slide 15: Net sales grew mainly due to Globus Wine
Net sales grew mainly due to Globus Wine Net sales, EUR million Comparable EBITDA, EUR million Net sales excl. Globus Wine 702.7 EUR million 76.1 658.5 (665)* (101.1)* Sales in monopoly markets, Profitability declined due both for wine and spirits, to higher input costs. declined. Increasing input c
Slide 16: Business environment 2022
Business environment 2022 Markets back to normal after Covid-19 pandemic Nordic alcoholic beverage -4% market 248 248 250 239 Spirits 225 35 % 200 EUR -18% 13.5 150 billion 111 113 -10% 100 93 Wines 79 84 80 73 72 2019 65 % 2020 50 2021 2022 Source: Euromonitor. 0 SE NO FI Wine and spirits sale in m
Slide 17: Net sales growth 5.7%, growth in all segments
Net sales growth 5.7%, growth in all segments Net sales (external), MEUR +6% • Net sales growth driven by the 702.7 acquisition of Globus Wine. Net 703 665.0 22.1 665 7.2 8.4 sales without Globus Wine EUR 629 628 44 Globus Wine 658.5 million • Wine net sales in the monopoly countries (Sweden, Norway
Slide 18: Decline in profitability due to high input costs and market changes
Decline in profitability due to high input costs, market changes and a correction to inventory values of Globus Wine Comparable EBITDA, EUR million -25% -25% 98.3 101.0 101.0 Comparable EBITDA EUR 76 million, or -16.0 10.8% of net sales 80.7 76.1 -9.6 -0.3 1.0 76.1 The decline in profitability was r
Slide 19: Wine
Wine Net sales growth due to Globus Wine Net sales (total) EUR million +5% • Working capital was weakened by 303 317 - lower net sales in monopolies - changes in partner portfolios - higher production costs - EUR 3.2 million correction of Globus Wine inventory values. • Market share of own wines suc
Slide 20: Spirits
Spirits Net sales increased by 4 % Net sales (total) EUR million Strong lineup of seasonal aquavits : Aalborg Juleakvavit 2022, Opland +4 % • Net sales increase driven by strong Jubileum, Komiteens Kalas, O.P. Anderson 225 234 lightweight, Prima Julsnaps, Herrgårds sales in international. Julakvavit
Slide 21: Industrial
Industrial Net sales increased 16% Net sales (total) EUR million +12% • External net sales grew 16%, and 286 255 was EUR 160.0 million 126 Internal • Net sales increased by higher 117 raw material prices incl. barley 160 External • Price increases partly 138 compensated by sale of CO2 2021 PF 2022 e
Slide 22: Cash flow and net debt
Cash flow and net debt Net debt/comprable Net cash flow, Net debt, EUR million EBITDA EUR million EUR million -0.4 300.9 4.0 (50.8) (126) (1.8) Inventory values increase to EUR 29.2 million, decreasing Acquisition of Globus Wine the net cash flow. increased net debt. Decreasing of inventory Expandin
Slide 23: Income statement
Income statement EUR million 2022 2021 Net sales 702.7 478.2 Other operating income 10.9 10.5 Materials and services -414.3 -266.1 Employee benefit expenses -93.8 -69.6 Other operating expenses -137.6 -90.2 Depreciation, amortisation and impairment -33.2 -20.5 Operating result 34.7 42.4 Finance inco
Slide 24: Balance sheet
Balance sheet EUR million 31 Dec 2022 31 Dec 2021 EUR million 31 Dec 2022 31 Dec 2021 ASSETS EQUITY AND LIABILITIES Non-current assets Equity attributable to owners of the parent Share capital 61.5 61.5 Goodwill 310.5 277.8 Invested unrestricted equity fund 336.8 336.8 Other intangible assets 226.1
Slide 25: Focus on future
Focus on future Comparable Focus on Operating EBITDA in 2023 profitability: price environment is expected to be increases and continues to be between efficiency with challenging. EUR 80-90 million. high priority. Annual General Meeting | 19 April 2023 | 25
Slide 26: Thank you
Thank you