Tokmanni Group Oyj · OMXHEX:TOKMAN
Tokmanni Group Oyj — Q1 2022 Earnings Presentation
17 slides from Tokmanni Group Oyj's earnings presentation, Apr 29, 2022
Slide 1: Q1/2022 weaker purchasing power slowed sales growth
Q1/2022 weaker purchasing power slowed sales growth Mika Rautiainen, President and CEO | Markku Pirskanen, CFO | 29 April 2022
Slide 2: Key figures Q1/2022
Key figures Q1/2022 • Revenue grew by 0.6% (13.6%) and was EUR 227.4 million (226.1) • Like-for-like revenue for stores decreased by 2.7% (+12.7%) • Comparable gross profit totalled EUR 73.7 million (74.8), with the comparable gross margin being 32.4% (33.1%) • Comparable EBIT amounted to EUR -0.5 m
Slide 3: Key points Q1/2022
Key points Q1/2022 • Like-for-like customer visits in stores down by 4.1% (-1.4%) • Like-for-like average basket grew by 1.5% (14.3 %) • The sales of groceries grew clearly, sales of non-groceries declined • Tokmanni’s online sales increase 28.6% year-on-year • The inventory increased due to securin
Slide 4: Retail environment for Tokmanni
retail environment for Tokmanni • Consumer confidence down remarkably in the beginning of the year • Purchasing power was weakened due to rising inflation • Uncertainty has made customers’ buying behaviour more cautious • Buying prices and domestic transportation costs have risen significantly • Emp
Slide 5: Tokmanni's and non-grocery market development, %
Tokmanni'S and non-grocery market development, % Sales development, % 20,0 19,2 16,0 14,6 12,0 10,2 13,1 13,6 11,0 8,0 10,9 9,9 7,8 8,0 8,3 5,8 7,6 7,5 7,6 7,0 4,0 6,1 5,4 4,5 4,4 4,0 3,9 4,5 4,3 0,6 3,6 0,0 1,9 1,6 2,3 2,3 1,1 1,4 0,6 -0,1 -1,1 -1,9 -1,9 -4,0 -2,9 -8,0 -7,4 -7,0 -9,0 -12,0 Q1/17 Q2
Slide 6: Key figures
Key figures 6 29.4.2022
Slide 7: Revenue
Revenue • In the first quarter, Tokmanni’s revenue grew by 0.6% Revenue, EUR million (13.6%) to EUR 227.4 million (226.1) • Like-for-like revenue decreased by 2.7% (+12.7%) 226,1 227,4 199,0 • The sales of groceries grew, whereas sales of 188,1 non-groceries declined Q1/2019 Q1/2020 Q1/2021 Q1/2022
Slide 8: Comparable gross profit and margin
Comparable gross profit and margin Comparable gross profit • In the first-quarter, comparable gross profit was EUR 73.7 million (74.8), corresponding to a comparable gross margin of 32.4% (33.1%) 74,8 73,7 • Gross margin was impacted by product mix and Tokmanni’s aim 63,8 58,6 to guarantee the lowes
Slide 9: Product labels managed by Tokmanni and direct import
product labels managed by Tokmanni and direct import Product labels managed by Direct import, % Tokmanni, % 23,6 % 24,4 % 23,9 % 10,3 10,0 10,4 70,8 70,4 71,6 13,3 14,4 13,5 29,2 29,6 28,4 Q1/2020 Q1/2021 Q1/2022 Q1/2020 Q1/2021 Q1/2022 Other product labels Product labels managed by Tokmanni* Direct
Slide 10: Operating expenses
Operating expenses • In the first quarter, comparable operating expenses were Comparable operating expenses EUR 57.3 million (52.5), or 25.2% of revenue (23.2%) – Personnel expenses represented EUR 32.9 million (30.7) of the operating expenses, or 14.5% (13.6%) of revenue 57,3 52,5 – Personnel expen
Slide 11: Comparable EBIT
Comparable EBIT • In the first quarter, comparable EBIT totalled EUR -0.5 Comparable EBIT, EUR million million (6.8), and the comparable EBIT margin was -0.2% (3.0%) 6,8 • Previous year's particularly good EBIT level was not reached 0,3 Q1/2019 Q1/2020 Q1/2021 Q1/2022 -0,5 -2,2 11 29.4.2022 Tokmanni
Slide 12: Balance sheet, financing and cash flow
Balance sheet, financing and cash flow • At the end of March 2022, Tokmanni’s inventories amounted to EUR 305.9 million (250.4) Inventories, EUR million – The increase in inventories was due to the arrival of spring season goods earlier than last year, expansion of the assortment and higher buying p
Slide 13: Net capital expenditure
Net capital expenditure • Net capital expenditure totalled EUR 10.8 million (2.3) in Net capital expenditure, EUR million the first quarter • Capital expenditure was mainly focused on expanding, 21,7 maintaining and developing the store network, developing digital services, as well as constructing t
Slide 14: Year 2022
year 2022 14 29.4.2022
Slide 15: Tokmanni focus in 2022
Tokmanni focus in 2022 • Low prices and discount retailers are becoming more important in the current circumstances • Sales growth with best assortment and lowest price level • Personalized offers to Tokmanni Klubi loyalty members • Winning market share in non-grocery product groups • Short-term act
Slide 16: Outlook for 2022
Outlook for 2022 • In 2022 Tokmanni expects the revenue to be at the previous year’s level. • Comparable EBIT measured in euros is expected to be EUR 90–110 million in 2022. • The forecast includes elements of uncertainty, which depend on the development of inflation, interest rates, the war in Ukra
Slide 17: Questions?
Questions? 17 29.4.2022