Leifheit AG · XETR:LEI
Leifheit — Q1 2025 Earnings Presentation
42 slides from Leifheit's earnings presentation, May 7, 2025
Slide 1: Investor Presentation Q1 2025
Investor Presentation Q1 2025 7 May 2025
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements which are based on the management’s current estimates with regard to future developments. Such statements are subject to risks and uncertainties which are beyond Leifheit’s ability to control or estimate precisely, such as statements o
Slide 3: Executive Summary: Growth opportunities from product expansion
Executive Summary: Growth opportunities from product expansion Holistic corporate strategy keeps profitability high despite challenging market environment Successful product launch in February, next innovation in June will further drive growth Group turnover down by 3.3% to 63.7 m€ due to weak consu
Slide 4: Consumer climate: no recovery in domestic & EU markets yet
Consumer climate: no recovery in domestic & EU markets yet Consumer confidence index (CCI) GfK consumer climate index December 2024, EU-27 April 2025, Germany Source: https://www.oecd.org/en/data/indicators/consumer-confidence-index-cci.html Source: GfK Konsumklima powered by NIM / co-funded by Eur
Slide 5: Group turnover below expectations – low consumer sentiment & portfolio adjustments
Group turnover below expectations – low consumer sentiment & portfolio adjustments Group turnover by segment, region in m€ • Q1 impacted by weak consumer Group Household Wellbeing Private Label confidence and portfolio Turnover 63.7 54.2 3.6 5.9 adjustments as part of strategic in m€ focus on core c
Slide 6: Strong performance in DIY and Discounter channel
Strong performance in DIY and Discounter channel Distribution channels Turnover Q1 2025 in % (previous year’s figures) Electro Cash & Carry 3 (3) 2 (2) Others 4 (5) • E-Commerce affected by low consumer sentiment in European markets – down 2.7 % Discounter Hypermarkets 9 (5) 24 (26) • Growth of 5.6%
Slide 7: Strong focus on innovation: Black Line
Strong focus on innovation to drive growth and profitability: Black Line Ironing Boards and Tower Dryers on top sales volumes in % mov. per 03 / 2024 mov. per 03 / 2025 Successful Black Line Investor Presentation May 2025 7
Slide 8: Strong focus on innovation: Window Cleaning
Strong focus on innovation to drive growth and profitability: Window Cleaning New 4-in-1 window and frame cleaner: Growth momentum in the product category in Q1 2025 +40% Investor Presentation May 2025 8
Slide 9: Successful growth of rotary dryers in Q1 2025
Successful growth of rotary dryers in Q1 2025 Turnover growth rotary dryers Linomatic in Q1 2025 +13% Investor Presentation May 2025 9
Slide 10: E-Commerce to drive growth and profitability: Pilot France D2C
E-Commerce to drive growth and profitability: Pilot France D2C • Efficient logistic from new D2C logistic hub • New distribution via additional marketplaces 09 / 2024 – 03 / 2025 • Strong investment into Performance Marketing D2C E-Commerce in France increased by 210% vs. previous year period Invest
Slide 11: Q1 2025 Financials
Q1 2025 Financials
Slide 12: Group turnover Q1 2025 below expectations
Financials Q1 2025 Group turnover Q1 2025 below expectations • Growth in Q1 25 Group turnover development by quarters predominantly impacted by in m€ weak consumption, portfolio adjustments and insolvency of an important customer 300 +6.2% • Core categories not immune to +16.0% market conditions, bu
Slide 13: Improved gross margin not sufficient to offset turnover decline and lower foreign currency results
Financials Q1 2025 Improved gross margin not sufficient to offset turnover decline and lower foreign currency results Group earnings development FY 2021 – FY 2025 in m€ 12 Q1 2024 Q1 2025 ∆ 10 Group turnover m€ 65.9 63.7 -3.3% 8.3 Gross margin % 44.7 45.6 0.9 pps 8 Foreign currency result m€ 0.3 -0.
Slide 14: Steadily increasing gross margins
Financials Q1 2025 Steadily increasing gross margins YOY +0.9 pps Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Gross Margin % 44.3 44.7 44.5 44.1 45.3 45.6 • Improvement in gross margin to 45.6% in Q1 2025 (Q1 2024: 44.7%) because of - productivity and efficiency increase in production and logist
Slide 15: Free cash flow negative in Q1 2025, unchanged good liquidity position
Financials Q1 2025 Free cash flow negative in Q1 2025, unchanged good liquidity position in m€ Q1 2024 Q1 2025 ∆ Cash flow from operating activities 1.4 -5.5 -6.9 Cash flow from investment activities -0.4 -1.7 -1.3 Cash flow from financing activities -0.2 -2.0 -1.8 Free cash flow1 1.0 -7.2 -8.2 in m
Slide 16: Leifheit has robust liquidity to implement the new corporate strategy
Financials Q1 2025 Leifheit has robust liquidity to implement the new corporate strategy Group liquidity 31/12/2024 vs. 31/03/2025 in m€ • Free cash flow decreased in Q1 2025 to -7.2 m€ 2.0 1.9 (Q1 2024: 1.0 m€) 41.3 • Positive effects from the increase 3.6 2.7 in net result and working capital 32.2
Slide 17: Strategy Update
Strategy Update
Slide 18: Strong Vision: Leading with focus – creating sustainable value
Strong Vision: LEADING WITH FOCUS – CREATING SUSTAINABLE VALUE Investor Presentation May 2025 18
Slide 19: Reliable, successful core business: Mechanical cleaning & drying
Reliable, successful core business: Mechanical cleaning & drying Turnover growth core business in m€ CAGR 2015-2024 4.1% -0.1% 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Q1 Q1 2027 2024 2025 Investor Presentation May 2025 19
Slide 20: Strong focus on Innovation to drive growth and profitability
Strong focus on Innovation to drive growth and profitability Power Clean July 2024 New Leifheit Innovation Strategy will fuel the pipeline: Window • consumer focused Cleaning • defined Innovation fields Feb 2025 • launch / relaunch cycle • sustainability targets Next Innovation June 2025 Investor Pr
Slide 21: Value optimization: Significant efficiency gains in production and logistics
Value optimization: Significant efficiency gains in production and logistics Actions 2027: • Implementation of synchronic production cells and production lines • Introduction of D2C dedicated assortment Productivity production site* 2022 – Q1 2025 in % 100 90 80 95 93 87 81 70 2022 2023 2024 Q1 2025
Slide 22: Focus on shareholder value
Strong financial base to provide attractive Shareholder returns Attractive • Solid liquidity position of dividend Promoting policy: innovation 32.2 m€ without any Share + preserve liabilities to banks buybacks ~75% investment • Strong equity ratio of of free cashflow capability or net result for 48.
Slide 23: Outlook 2025
Outlook 2025
Slide 24: Leifheit has a great potential to expand
Leifheit has a great potential to expand Vision 2030+ Mid-term potential: European Sales growth: ~3-6% CAGR branded leader in EBIT margin: ~7-10% mechanical cleaning and Forecast 2025: drying Sales growth: +2-4% Sales: >300 m€ EBIT: 15-17 m€ EBIT: >10% FCF: upper single-digit m€ Actual 2024: Sales:
Slide 25: 2025 forecast confirmed – confident strategy execution
2025 forecast confirmed – confident strategy execution to offset market conditions Forecast 2025 Group turnover 2 % to 4 % above previous year Turnover Household solid growth Turnover Wellbeing on par with previous year Turnover Private Label on par with previous year Group EBIT in a corridor of 15
Slide 26: Investment Highlights: sustainable, profitable growth and shareholder value
Investment Highlights: Leifheit stands for sustainable, profitable growth and shareholder value Strong vision & focus strategy: Potential to expand: become European branded leader strong brand, growth potential in and specialist in strong core Europe, growth from Innovation and business new e-com |
Slide 27: Your questions, please.
LEADING WITH FOCUS. CREATING SUSTAINABLE VALUE. Your questions, please.
Slide 28: Annex
LEADING WITH FOCUS. CREATING SUSTAINABLE VALUE. Annex
Slide 29: Experienced Management Board
Annex Experienced Management Board Alexander Igor Iraeta Marco Reindler Munduate Keul CEO COO CFO Previous experience Previous experience Previous experience • Brings more than 25 years of • Many years of experience as CTO at • Responsible for Controlling, international experience in leading Igus Gm
Slide 30: Leifheit Group structure
Annex Leifheit Group structure Household Wellbeing Private Label Kitchen Standing Laundry Care Cleaning Kitchen Goods Kitchen + Personal Scales Goods Dryers Wellbeing 6% Rest of World Kitchen Goods 1% 11% Germany Laundry Care Eastern 43% 46% Europe Turnover by 14% Turnover product by region category
Slide 31: Household segment quite robust against low market sentiment
Annex Household segment quite robust against low market sentiment and strategic portfolio adjustments Group turnover by segment Group turnover by segment in m€ Q1 2025 9.3% 70 66 Household 64 5.6% 7 6 Wellbeing 60 4 4 Private Label 50 40 85.0% 30 • Household segment down by 2.2% 55 54 driven by slig
Slide 32: Strong turnover growth in Germany and selected European markets
Annex Strong turnover growth in Germany and selected European markets Group turnover by region Group turnover by region in m€ Q1 2025 70 66 0.9% 64 13.6% 2 Germany 1 43.1% 60 9 9 Central Europe 50 Eastern Europe 40 31 27 41.9% Rest of world 30 • Germany +12.9% due to successful distribution expansio
Slide 33: Successful distribution expansion drives growth in DIY and Discounter channels
Annex Successful distribution expansion drives growth in DIY and Discounter channels Blue Chip client base Distribution channels Turnover Q1 2025 in % (previous year’s figures) Electro Cash & Carry 3 (3) 2 (2) Hypermarkets Others 4 (5) 24 (26) Top 10 Discounter Customers 9 (5) account for 50% of Lei
Slide 34: Increased efficiency and productivity led to reduction in number of employees
Annex Increased efficiency and productivity led to reduction in number of employees Employee development* Employees by region* 31 Dec. 31 Dec. Private Label 1.200 Wellbeing 7.0% 1.020 Germany 993 38.0% Household 15.0% Czech Republic 1.000 124 France 134 28 27 Other countries 800 600 40.0% 868 832 40
Slide 35: Long-term financial overview
Annex Long-term financial overview 2020 2021 2022 2023 2024 Group turnover m€ 271.6 288.3 251.5 258.3 259.2 Profitability ▪ Gross margin % 45.0 42.3 38.7 42.1 44.5 ▪ Cash flow from operating activities m€ 4.0 16.4 14.0 20.8 28.5 ▪ Free cash flow m€ -5.5 9.6 8.8 12.1 14.2 ▪ EBIT m€ 18.8 20.1 2.8 6.0
Slide 36: Long-term financial overview
Annex Long-term financial overview 2020 2021 2022 2023 2024 Per share Net result for the period, EPS1 € 1.32 1.49 0.13 0.34 0.85 Free cash flow € -0.57 1.00 0.92 1.27 1.51 Dividend € 1.05 1.05 0.70 0.95 1.152 Special dividend € -- -- -- 0.10 0.052 Investments m€ 9.6 7.3 5.4 8.9 14.5 Depreciation m€
Slide 37: Our European production and logistic footprint
Annex Our European production and logistic footprint ensures efficient and reliable supply to customers Paris/F (Leifheit/Birambeau) Nassau/D (Leifheit/Soehnle) • About 20 employees • About 270 employees • Marketing, sales • Marketing, sales, development, quality and administration assurance, centra
Slide 38: Leifheit – 65 years of passion for housework
Annex Leifheit – 65 years of passion for housework 2010 1984 • Sale of the business unit • IPO of Leifheit AG ‘bathroom’ including the brands Spirella, Kleine Wolke and Meusch 1988 2008 • License agreement for 2024 • Takeover of Dr Oetker Bakeware • New corporate 60% of Herby/F • Acquisition of Spir
Slide 39: European competitors by category
Annex European competitors by category Cleaning Laundry care Spontex Brabantia Vileda Artweger Rival Tonkita Swiffer Juwel Wenko Gimi Stewi Vileda Metaltex Rörets Kärcher Blome Kitchen goods Wellbeing Tescoma WMF Gefu Bosch Laica Tanita Zyliss Rösle Oxo Lurch ADE Homedics Fackelmann Sanitas Beurer B
Slide 40: Significant free float and international investors
Annex Significant free float and international investors Shareholder structure May 2025 MKV Verwaltungs GmbH, Grünwald (GER) 10.03% 10.03% Ruthild Loh, Haiger (GER) 8.26% 8.26% Leifheit AG Nassau (GER), treasury shares 8.71% 8.01% Employee shares subject to a lock-up period 0.05% 0.05% Alantra EQMC
Slide 41: Financial calendar and contact
Annex Financial calendar and contact Financial calendar 2025 Contact 12-14 May 2025 Corporate Communications / Investor Relations Spring conference, Frankfurt/Main Phone: +49 2604 977-218 28 May 2025 E-Mail: [email protected] Annual General Meeting, Frankfurt/Main 11 June 2025 Warburg Highlights 2025,
Slide 42: Aktiengesellschaft Postfach 11 65 D-56377 Nassau
Aktiengesellschaft Postfach 11 65 D-56377 Nassau