MEK MEKONOMEN NOMEN GR GROUP UP JANUARY – JU JUNE 2018 27 27 JU JULY 2018 2018
SUMMARY Favorable sales growth and improved earnings Strong sales growth to affiliated workshops Declined sales of DAB-products affected the sales negatively by SEK 50 M in Q2. Limited impact as of Q3 Towards doubling the sales through acquisition 2
MEKON ONOMEN OMEN GROUP P – SECOND D QUARTER ER 2018 SEK M Q2 2018 18 Q2 2017 17 change ange 2018 018 6M 2017 017 6M change ange Group revenue 1,673 1,560 7% 3,142 3,078 2% EBIT 173 174 0% 233 299 -22% Key figures 3% 3% 2% 0% - Underlying sales growth 10% 11% 7% 10% - EBIT margin 3
DE DEVEL ELOP OPMENT ENT – EBIT Q2 2018 8 vs Q2 2017 7 4
DE DEVEL ELOP OPMENT ENT – EBIT H1 H1 2018 vs H1 H1 2017 7 5
SAL ALES ES & R & RES ESUL ULT – PE PER R SEG EGMENT MENT
MECA – SECON OND D QUARTER ER 2018 Increased sales to MECA Car Service workshops and other Net sales EBIT larger customers SEK 543 M SEK 102 M Sales positively affected by increased sales due to acquired workshops and strong NOK Sales negatively affected by lower sales of DAB products in Underlying sales growth EBIT margin Norway +4% 18% 18% SEK M Q2 2018 Q2 2017 chan ange 2018 6M 2017 6M Chan ange ge Net sales 543 495 10% 1,033 989 4% - Sweden 254 240 6% 493 484 2% - Norway 289 255 13% 540 504 7% EBIT 102 91 11% 160 166 -4% Key figures - Underlying sales growth 4% 6% 4% 2% - EBIT margin 18% 18% 15% 17% 7
MEKON ONOMEN OMEN – SEC ECON OND D QUARTER ER 2018 Positive sales development and efficient cost control in Net sales EBIT Sweden, due to committed employees SEK 726 M SEK 107 M EBIT negatively impacted by non-recurring costs in Norway related to closures/mergers of stores and acquired workshops Underlying sales growth EBIT margin +1% 14% 14% SEK M Q2 2018 Q2 2017 chan ange 2018 6M 2017 6M Chan ange ge Net sales 726 703 3% 1,358 1,354 0% - Sweden 482 475 2% 910 908 0% - Norway 244 228 7% 448 446 1% EBIT 107 89 20% 150* 155 -4% Key figures - Underlying sales growth 1% 1% 0% -4% - EBIT margin 14% 12% 11% 11% * Includes an impairment of DAB products in Q1 2018 of SEK 13 M 8
SØRE RENSEN SEN OG BALCHEN HEN – SECON OND QUARTER ER 2018 Sales negatively affected by significantly lower sales of DAB Net sales EBIT products in Norway SEK 209 M SEK 39 M Stable sales growth adjusted for the DAB effect Efficient cost control Underlying sales growth EBIT margin -9% 9% 18% 18% SEK M Q2 2018 Q2 2017 chan ange 2018 6M 2017 6M Chan ange ge Net sales 209 211 -1% 390 425 -8% EBIT 39 39 2% 53* 67 -20% Key figures - Underlying sales growth -9% 14% -8% 10% - EBIT margin 18% 18% 13% 15% * Includes an impairment of DAB products in Q1 2018 of SEK 7 M 9
Expansio nsion n to ne new market ets s doubl bles es the siz ize of th the Gr Group 10
FTZ & INTER-TEAM Clea ear r market et leader er in Den enma mark SEK ~50 ~50 11.1% 11.1% #1 #1 1-2% 2% ~920 ~920 ~1,150 ~1,150 3,262m 3,262m Prov roven en logi gist stics cs and sales es platform orm Bransches EBITDA Market Market Franchise Employees Sales enabling g best st-in in-cl class ss offeri ering position (1) workshops margin growth (1) May 2018 May 2018 CAGR 17A- LTM (2) LTM (2) 22E High ghly y att ttra racti tive e financi cial tra rack ck record cord Stron rong positi tion on in high gh growt owth Polish sh mark rket et SEK #4 #4 ~410 ~410 ~5% ~5% ~1,400 1.9% 1.9% ~80 ~80 1,941m Exten tensi sive e offeri ering g of high gh quality ty Market Market Franchise private te label el parts rts Employees EBITDA Branches Sales position (1) workshops growth (1) margin May 2018 CAGR 17A- LTM (2) May 2018 22E Platform orm for futu ture re growth rowth throu rough LTM (2) incr crea eased sed mark rket et share re 1) Management estimate 2) Financial information for the period June 2017-May 2018 based on preliminary financial information from the company’s internal accounting system in EUR and converted to SEK with an exchange rate (EUR/SEK) of 10.27
UPC PCOMING EVEN ENTS TS Next xt steps Announcement of acquisition 6 July 2018 Expected approval from competition filing August / September 2018 Closing of acquisition Two weeks after approval EGM H2 2018 Rights issue H2 2018 12
MA MARK RKET ET & GR & GROWTH TH
MA MARK RKET T TRE REND NDS • Provided that scrapping or export of cars do not increase from the current level we see potential for an increasing overall market 14
SALES ES GROW OWTH TH BY CUSTOMER OMER GROUP OUP IN THE E SECON OND D QUAR ARTER TER 2018 18 Affil iliat iated ed work rkshops ps Growth, nominal: +20% Growth, local currency: +18% Consumers nsumers Growth, nominal: -1% Growth, local currency: -3% Othe her B2B B2B customers tomers Growth, nominal: -1% Growth, local currency: -3% Part rtne ner r store res Growth, nominal: +3% Growth, local currency: +1% 15
STOR ORES ES AND AF D AFFILI LIATED TED WORK RKSHOPS SHOPS Number of stores Q2 18: 333 333 (344) 44) Number of workshops Q2 18: 2,026 026 (2,018 ,018) Norway Finla nland nd 132 stores 8 stores 977 workshops 22 workshops Sweden 193 stores 1,027 workshops 16
STRE REAMLI LININ ING OF OUR R CENTRA RAL L WARE REHOU HOUSE SE STRU RUCTURE CTURE • Proceeding according to plan, where cost savings of SEK 50 M will have a full effect on EBIT from 2020 • In end of June, the formal take-over of the automation from the automation supplier took place • We are currently testing the equipment and all associated processes • During the autumn and winter, we will gradually move articles to the new solution 17
SUPP PPLIER ER AGRE REEMENT EMENT WITH H ST 1 • Mekonomen Group's wholesale company, Bileko Car Parts, will be the new supplier of car accessories to St1's Shell stores in Sweden • The new agreement does not initially mean a significant increase in turnover, the agreement is however a strategic new business model that could bring further opportunities and new customer groups in the future • The cooperation will begin in Autumn 2018 18
STRA RATEG TEGIC IC COOPER PERATI TION ON AGRE REEMENTS EMENTS • MECA and Mekonomen in Sweden will become Trygg-Hansa's partner in the segment of car engine damages*. The collaboration will begin in September 2018 and brings new customer group for MECA’s and Mekonomen’s workshops • The fleet-agreement with LeasePlan, to provide service and repairs to LeasePlan’s car fleet, has been renewed with both MECA and Mekonomen. LeasePlan is one of the largest Fleet-customer in the group *The cooperation does not include Trygg-Hansa´s car brand agreement 19
PR PROMEISTER ISTER SOLUTI UTION ONS S AS APP PPROVED ED TRA RAINING PR PROVIDER DER FOR R PK PKK INS NSPE PECT CTOR ORS S IN N NORW RWAY • ProMeister Solutions has been approved to conduct training for PKK (periodisk kontroll av kjøretøy) inspectors in Norway • Over 10,000 inspectors in Norway will need to undergo training before 1 October 2021, according to new rules based on EU Directive 2014/45 / EU • The training will start in autumn 2018. Premises, equipment and teachers are already in place 20
FOCU CUS S 2018 Strategic projects Workshop quality Growth and innovation Continued focus on our Increase organic growth own brand ProMeister in our core business (Products and workshop through improved Spare parts catalogue services) customer offerings Retain and develop Approved workshop entrepreneurship in the (Godkänd Bilverkstad) Group Central warehouse Continued focus on new structure Recruitment and businesses and our education – Mechanics acquisition ambition
AP APPENDIX PENDIX
EAR ARNI NING NGS S TRE REND ND 23
CASH CA H FLOW 24
BAL ALAN ANCE CE SHE HEET ET 25
INC NCOME ME STATEMENT EMENT 26
LARGEST ST OWNER ERS S 2018-06 06-30 30 27
Recommend
More recommend
