Flügger Group
Investor presentation
Q4 2022/23
Investor presentation Q4 2022/23
Flügger at a glance
Key figures FY 2022/23
Revenue mDKK | EBIT mDKK |
2.550 43
Full-time employees | Markets |
2.234 17
No. factories | No. stores |
12 354
Flügger's business model
Production | Sales channels | Customers | |||||||
Own stores | BtB | ||||||||
Franchise stores | |||||||||
E-commerce
R&D | BtC |
DIY etc.
Brand examples
Segment 1 | |
Private label | Segment 2 |
Private label | Segment 3 |
2
Investor presentation Q4 2022/23
Q4 22/23 highlights
Revenue (mDKK)
-1% | |
616 | 610 |
Q4 21/22 | Q4 22/23 |
Gross Margin (%)
-2.4pp | |
56.0 | 53.6 |
Q4 21/22 | Q4 22/23 |
EBIT (mDKK)
n.m. | |
-6 | |
-111 | |
Q4 21/22 | Q4 22/23 |
EBIT-margin (%)
+17.1pp | |
-0.9 | |
-18.0 | |
Q4 21/22 | Q4 22/23 |
Own & franchise stores (#)
-6% | ||
375 | 354 | |
244 | 244 | Own stores |
131 | 110 | Franchise |
Q4 21/22 | Q4 22/23 |
ROCE, LTM (%)
0.0pp
2.62.6
Q4 21/22 | Q4 22/23 |
3
Investor presentation Q4 2022/23
FY 22/23 highlights
Revenue (mDKK)
+1% | |
2.520 | 2.550 |
FY 21/22 | FY 22/23 |
Gross Margin (%)
-3.6pp | |
56.9 | 53.3 |
FY 21/22 | FY 22/23 |
EBIT (mDKK)
+4.9% | |
41 | 43 |
FY 21/22 | FY 22/23 |
EBIT-margin (%)
+0.1pp | |
1.6 | 1.7 |
FY 21/22 | FY 22/23 |
Own & franchise stores (#)
-6% | ||
375 | 354 | |
244 | 244 | Own stores |
131 | 110 | Franchise |
FY 21/22 | FY 22/23 |
ROCE, LTM (%)
0.0pp
2.62.6
FY 21/22 | FY 22/23 |
4
Investor presentation Q4 2022/23
Decline in raw material prices, but still at high historical level
The sharp increase beginning 2022/23 was not fully passed on in sales prices
Chemicals market impacts c. 40% of Flügger raw material costs | Gas/energy impacts c. 15% of raw materials costs |
200 | Weighted index | 3.000 | Price of natural gas (1y fwd contract1)) | ||||||||||||||||||||||||||||||||
Based on spend | |||||||||||||||||||||||||||||||||||
180 | Average 20/21 | ||||||||||||||||||||||||||||||||||
Average 21/22 | +65,9% | 2.500 | |||||||||||||||||||||||||||||||||
160 | Average 22/23 | ||||||||||||||||||||||||||||||||||
140 | 2.000 | ||||||||||||||||||||||||||||||||||
120 | 1.500 | +133,6% | |||||||||||||||||||||||||||||||||
✓ Approx. DKK 37m saved by adjusting | |||||||||||||||||||||||||||||||||||
100 | recipes and strategic procurement | 1.000 | |||||||||||||||||||||||||||||||||
80 | ✓ Sales price increases to fair market level, | +233,0% | |||||||||||||||||||||||||||||||||
although not fully offsetting cost increase | |||||||||||||||||||||||||||||||||||
+596,4% | |||||||||||||||||||||||||||||||||||
500 | |||||||||||||||||||||||||||||||||||
60 | ✓ Market volumes in the Nordics declined | ||||||||||||||||||||||||||||||||||
+4,8% | |||||||||||||||||||||||||||||||||||
c. 9% vs. peak, but Flügger declined less | |||||||||||||||||||||||||||||||||||
40 | 05/21 | 0 | 07/22 | 04/23 | |||||||||||||||||||||||||||||||
01/20 | 03/20 | 05/20 | 07/20 | 09/20 | 11/20 | 01/21 | 03/21 | 07/21 | 09/21 | 11/21 | 01/22 | 03/22 | 05/22 | 07/22 | 09/22 | 11/22 | 01/23 | 03/23 | 05/23 | 01/20 | 04/20 | 07/20 | 10/20 | 01/21 | 04/21 | 07/21 | 10/21 | 01/22 | 04/22 | 10/22 | 01/23 | 07/23 | |||
Note: Impact measured for Segment 1 & 2 | 5 | ||||||||||||||||||||||||||||||||||
1) TTF Gas (DKK_øre/m3) |
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Disclaimer
Flügger group A/S published this content on 08 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 August 2023 21:57:43 UTC.