Seafire Ab · OMXSTO:SEAF
Seafire Ab — Q2 2023 Earnings Presentation
13 slides from Seafire Ab's earnings presentation, August 2023
Slide 1: Investor Presentation Q2 2023
Investor Presentation Q2 2023
Slide 2: Seafire - Summary
Seafire - Summary Investment group specialised in acquisition of profitable SMEs operating in niche markets within Products & Industrial components Company highlights Investment portfolio Key financial metrics 2023 Investment company targeting leading SMEs within niche industries • E-commerce focuse
Slide 3: An introduction to Seafire's management team
An introduction to Seafire’s management team Experienced management team Johan Bennarsten Jacob Persson Anders Martinsson Group CEO and Founder CFO Business Area Manager With Seafire since 2016 With Seafire since 2021 With Seafire since 2023 • Education: Medical Degree from Karolinska Institute and
Slide 4: Summary Q2 2023
Summary Q2 2023 • Negative organic growth of -11% after a strong Q1 2023 with 14% growth Selected Key Metrics Lower demand in • Decreased demand in three subsidiaries negatively affected development in Q2 ü three subsidiaries • Generally increased costs in the quarter due to inflation and salaries a
Slide 5: Financial overview
Financial overview Financial performance (Pro forma figures)1 SEKm • Revenues: Organic growth -11% in Q2 2023 vs Q2 2022 1 037 1 033 • Adj EBITDA proforma: Down from SEK 119m (2022FY) to SEK 112m in LTM Q2 2023 11,5% 10,8% • Margin down 0.7 p.p. in PF 2023 Q2 LTM from 2022 mainly due to weak perform
Slide 6: Financials – EBITA development Q2 2022 to Q2 2023
Financials – EBITA development Q2 2022 to Q2 2023 45 7 1. Extraordinary profits in Q2 2022(effect of SEK -7m) 40 2. Negative sales development (effect of SEK -5m) 3. Increased operating costs (effect of SEK -5m) 35 35 30 MSEK 25 24 - 17 20 15 10 5 0 Adj EBITA Q2 2022 Acquired EBITA Subsidiary Adj EB
Slide 7: Financials – Organic growth
Financials – Organic growth 300 290 280 Reported organic growth: -10.6% Adjusted organic growth: -5.4% 270 264 260 MSEK -9 -1,5 249,5 250 -4 240 236 -13,5 230 220 210 200 Sales Q2 2022 Solid Q2 with new Solid effects from disc. Nordbutiker effects from Adj. sales Q2 2022 Negative sales growth Sales
Slide 8: Financial overview
Financial overview Performance by business unit Q2 Q2 H1 H1 LTM Q2 FY Q2 Q2 H1 H1 LTM Q2 FY Industrial MSEK 2023 2022 2023 2022 2023 2022 MSEK 2023 2022 2023 2022 2023 2022 components Net sales 196 168 368 279 641 553 Products Net sales 90 96 168 136 308 276 Growth, % 16% 376% 32% 312% 16% 180% Grow
Slide 9: The Seafire share
The Seafire share Shareholders per 2023-06-30 Share price development Investor name of total Ticker: SEAF YTD 2023 share performance: Market capitalisation: Creades AB 18.5% Share price: SEK 9,80 -52% SEK 420m Berenberg Funds 9.4% Handelsbanken Fonder 6.3% Protector Forsikring 4.7% Cliens Fonder 4.4
Slide 10: Outlook 2023
Outlook 2023 à Debt financing Closed in a challenging market, costs for interest down >SEK 49m p.a. Main market Listed May 11 2023 on Nasdaq Stockholm 2022: Market peaked - low costs, inflation, bottlenecks released Market 2023: Still on high level but cautiousness in some markets, increased costs d
Slide 11: Appendix
Appendix Strictly Private and Confidential 11
Slide 12: Financials – P&L Statement
Financials – P&L Statement Q2 Q2 jan-jun jan-jun R12 FY MSEK 2023 2022 2023 2022 2023 2022 Net sales 286 264 536 416 949 829 Other sales 2 2 4 3 38 36 Total sales 288 266 540 418 987 865 Changes in inventories of finished goods -16 1 -35 3 -57 -19 Purchased goods -142 -151 -255 -239 -465 -449 Other
Slide 13: Financials – Balance sheet
Financials – Balance sheet 30-jun 30-jun 31-dec 30-jun 30-jun 31-dec MSEK MSEK 2023 2022 2022 2023 2022 2022 Share capital 7 5 7 Goodwill 688 624 635 Other contributed capital 849 604 845 Intangible assets 75 83 74 Incentive program 2 0 2 Tangible assets 144 122 127 Retained earnings incl. profit fo