Slides
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Q1 2025 presentation Magnus Larsson, President and CEO Claes Wenthzel, Acting CFO
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2 Pricer in brief 350+ Million Labels Deployed 70+ Countries 40 Million Labels installed 2024 Vision The preferred partner for in-store communication and digitalization. 70+ Countries 200 Employees 5,000+ Stores on Plaza 11 Office Locations 28,000+ Stores 36+ Million Labels on Plaza
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3 Pricer transformation strategy 2024 2025 Phase 1 New Go-to-Market strategy to achieve growth Phase 2 Secured financing to allow fast growth Phase 3 T ransformation strategy to enable profitable growth Phase 4 Operational excellence and higher growth Highest EBIT, net profit & order Intake ever New CEO Renewed Management Te a m Share issue 257 MSEK Cost cutting program of 50 MSEK New financial targets: EBIT >8% and annual sales growth in line with market or ≥15% Redemption of Ture loan 250 MSEK and new credit facility of 150 MSEK Corporate bond issue of 300 MSEK 2022 2023
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Q1 2025
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5 Market development and Q1 events • The global ESL market is expected to grow 15% annually until 2030 but global market growth 2024 was likely below 5% • North America showed good growth while Europe fell behind and it’s likely that Pricer increased its market share on the European market • Increased macro economic uncertainty among customers slow down investments affecting order intake and net sales in Q1 • Current uncertainties might cause investment delays in 2025 but have not changed customer intentions to invest in store digitalization • The Retail T echnology Show in London, early April, was a success and it’s likely that the first large UK grocery retail chains will decide on ESL investments towards the end of this year or beginning of the next • In March, the British retail chain Company Shop implemented Pricer’s digital store solution across all its stores 23,3% Gross margin 2,4% EBIT margin
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Pricer Avenue • Shortlisted in ‘Retail T echnology Show Innovation Awards’ and ‘Retail Systems In-store T echnology of the Y ear Award’ • Product concept continues to be developed in close cooperation with key customers and industry partners • Pilots planned to be conducted with a few selected customers in H2 2025 “- Pricer Avenue was the big thing at NRF 2025. ” (Global Head of ESL, Tier 1 retailer) “- It’s like giving a voice to the silent shelves. ” (Parsers Venture Capital)
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7 Strategic plan 2025 Profitable growth • Strong focus on the UK market to address the huge growth opportunity on the market • Efficiency measures in France to improve operations and profitability • Strategic shift in our go-to-market approach for the Nordic and Baltic regions expected to grow sales and gross margin Win in chosen markets • Prioritized markets: North America, UK and southern Europe • Prioritized segments: hyper & supermarkets, pharmacies and DIY Empower sales organization • Solution sales and effective up-sales Market leading in-store solution portfolio • Integrated solution; broader portfolio, Pricer Avenue TM, add-on Plaza applications, partnerships and own R&D
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8 Sales and gross margin development 707 678 523 668 972 498 532 916 457 2 481 2 841 2 404 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Order intake Order intake R12M 90 110 112 142 128 147 136 152 123 381 492 558 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Gross profit Gross profit R12M Order intake Net Sales Gross Profit 571 687 622 801 670 644 614 630 528 2 373 2 780 2 416 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Net sales Net sales R12M
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9 R12 EBIT & Net profit 17 21 23 15 50 102 159 191 181 -27 -29 -38 -34 8 52 108 132 111 3% 2% 1% 1% 2% 4% 6% 7% 8% Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 EBIT (SEKm) Net Profit (SEKm) EBIT margin %
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10 Profit & Loss statement
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11 Cash flow from operating activities Comments • Improved cashflow due to lower working capital levels. • Lower trade receivables and reduced inventory levels impacting working capital positively. Q1 Q1 Full-year Full-year Amounts in SEK M 2025 2024 2024 2023 Cash flow from operating activities before changes in working capital 19,2 54,1 268,7 84,2 Increase(-)/decrease(+) inventories 55,6 91,9 -13,4 9,6 Increase(-)/decrease(+) trade receivables 59,0 -85,8 -122,2 4,8 Increase(-)/decrease(+) other current receivables -66,0 -42,8 52,6 68,2 Increase(+)/decrease(-) trade payables -19,6 -126,9 -148,7 -241,1 Increase(+)/decrease(-) other current liabilities 93,8 69,8 21,0 -1,9 Cash flow from changes in working capital 122,7 -93,7 -210,7 -160,4 Cash flow from operating activities 141,9 -39,6 58,0 -76,2
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12 Summary • Net Sales and Order Intake fell short of expectation but markets like Canada and Benelux showed growth • Q1 was negatively impacted by a weakening dollar but with much sales in EUR profitability will increase over time • We have a growing number of interesting customer engagements, pilots and opportunities showing a clear growth potential for Pricer • Reflecting the new go-to-market strategy for the Nordic and Baltic markets, we look forward to welcome existing as well as new customers as direct Pricer customers over the coming quarters
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13 Q&A