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Company Presentation 2025
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Our vision Our goal is to be recognised as Europe’s leading collection of innovative brands that design, manufacture and market sustainable products and services for the bathroom. 2
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3 Svedbergs Group at a glance Net sales, SEKm2 2 184 EBITA-margin2 14,3% EBITA, SEKm2 312 Brands 8 4 production facilities and sales in 15 countries 532 employees1 Products within bathroom furniture, shower enclosures, bathtubs, brassware, WCs, mirrors and accessories 1On average 2024 2The figures refer to the full year 2024.
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Our financial targets and progress TargetOutcome 2024 23.6% Genomsnittlig tillväxt de senaste sju åren uppgår till 23,6 procent. 2024 uppgick Tillväxten till 19,7 procent. 14.3% The EBITA margin for 2024 was 14.3 percent. 47.3% The Board of Directors proposes to the 2025 Annual General Meeting a dividend of representing 47.3 percent of the company’s profit after taxes. 10% Growth Average growth per annum. Growth will take place both organically and through acquisitions. >15% EBITA margin The Group’s long-term target is to achieve an EBITA margin in excess of 15 percent. < 50% Dividend policy Up to 50 percent of the profit of the year after tax. The level of the dividend should take into account the company’s financial position, growth and investment strategy. 0 3 6 9 12 15 18 21 0 50 100 150 200 250 300 350 2019 2020 2021 2022 2023 2024 EBITA % MSEK 0 20 40 60 80 2019 2020 2021 2022 2023 2024
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Our development 5 1962 1997 Listing on Nasdaq Stockholm Small Cap Launch of first bathroom products Acquisition of Macro Design 20202016 Acquisition of Cassøe 2021 Acquisition of Roper Rhodes 2023 Acquisition of Thebalux Today • 8 brands • Net sales 2024: SEK 2 184 million • High profitability (EBITA 14,3%) • Strong growth (Average CAGR 28% over the last 5 years) • 1 brand (Svedbergs) • Net sales 2016: SEK 450 million • Stable profitability (EBITA-margin 10%) • Weak growth (average CAGR 1% over the last 5 years) To a well-established market leader in bathroom furniture in the Nordics and northern Europe From a well-established market leader in bathroom products in Sweden 1920 Founded
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Proven track record of generating value for shareholders 10 20 30 40 50 60 70 2019 Share price development 2020 2021 2022 2023 2024 A SEK 100 investment in 2019 would now be worth SEK 353. 0 1 2 3 4 5 6 2019 2020 2021 2022 2023 2024 SEK Earnings per share Dividend per share
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Our market SEK 10bn Nordics ~6%* ~7%* ~7%* SEK 19bn UK SEK 5bn Netherlands Market size 2024 *Expected market share Drivers • Relocations • RMI (Renovation, Maintenance and Improvements) • New build
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Our five strategic pillars 8 1 2 3 4 5 Profitable growth Sales excellence Product developmentBusiness model Leadership and organisation Acquiring independent and innovative brands that complement the group. Cooperation without confusion. Business centric set-up. A comprehensive sales channel mix enables customer reach. Market leading customer service. Innovative bathroom solutions and continuous investments in design and sustainable products. Empower people and growth-oriented leadership
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1. Profitable growth: Acquiring independent and innovative brands that complement the group 9 Wider geographical presence New product categories Strengthened competence 1 Rationale for aquisition
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• Customers and sales • Product development • Production • Employees • Profit responsibility 2. Our business model: Cooperation without confusion 10 Cooperation Brand segmentsCentral organisation Local responsibilityShared responsibility Values • Acquisitions • Communication/IR/Sustainability • Strategy and business development • Accounting & finance • Cross-brand projects – synergies • Sourcing and purchasing • Sharing best practise • Developing leaders and talents
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Case: An example of our successful business model 11 • Increased EBITA margin – from 13% to 19% in two years. • Increased sales from 922 MSEK in 2022 to 1138 MSEK in 2024. Our success with Rhoper RhodesSvedbergs Groups’ impact on Rhoper Rhodes • Similar industry logic and structure • In line with our strategy • Well managed and financially strong • Strong position with three brands in different channels with a broad customer base • Good and developed logistics solution • Owns its product design Rhoper Rhodes in 2021 – a perfect match with Svedbergs Group 0 4 8 12 16 20 0 200 400 600 800 1000 1200 2022 2023 2024 EBITA % MSEK Net Sales (MSEK) EBITA (MSEK) EBITA% • Improved sourcing process - Lower prices • Improved the yearly cashflow • Enhanced their sustainability efforts by investing 6 MSEK in solar panels
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3. Sales excellence: Sales across 6+ markets with market leading customer service 12 Sweden 19% Norway 4% Denmark 4% Finland 2% UK 49% Netherlands 18% Others 4% Sales per geography Easy to contact Quick response Market leading customer service Agile and hazel free deliveries
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3. Sales excellence: A comprehensive sales channel mix enables customer reach 13 Nordics UK Bathroom Specialists Wholesale Hardware Store Professional Contract E-commerce DIY Regional, Local and National Building & Plumbing Merchants Distribution DIY E-commerce NL Bathroom Specialist E-commerce Professional contact Wholesale
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4. Product development: Innovative bathroom solutions and continuous investments in design and sustainable products 14 • Product development: Product innovation index >30%1 • Investments: Consistent investments in quality, design and product categories • Improvement and sustainable quality assurance: Develop existing product range 1Share of new launched products last three years of total sales should be more than 30%.
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5. Organisation and leadership: Empower people and growth-oriented leadership 15 Culture Confidence, trust and courage SEP 2024-SEP 2025 DENMARK Svedbergs Group AB Brand companies Per-Arne Andersson CEO Svedbergs Group Ann-Sofie Davidsson CFO Beate Hennessy Director of Business Development & Sustainability Svedbergs Macro Design Cassoe Rhoper Rhodes Primabad Thebalux MD Martina Axell MD Michael Cassoe MD Leigh Leather MD Jan Zwanenberg MD Jeroen Hoetink MD Thomas Gunnarsson Organisation Decentralised and delegated way of operating Leadership Lead by example
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Sustainability focus areas and targets*Targets 2030 Our focus areas Reducing greenhouse gas emissions 50% Reduction of CO2 emissions 100% Share of renewable energy 100% Environmentally certified wood raw material 20% Physical audits of strategic suppliers 35% Total waste Resource efficiency Wood from sustainable forestry Corporate social responsibility Reducing the environmental impact of our products Target 2050 Reach net-zero greenhouse gas emissions across the value chain 2024: -20% 2024: 87% 2024: 21% 2024: 100% 2024: 41% *Base year 2021
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Our segments 17 52%*18%* 8%* 4%* 18%* *Share of total sales YTD 2024
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Net sales 2024 Sweden 77% Finland 12% Denmark 1% Norway 10% 18 “A room to live and enjoy” Sustainable designed and manufactured bathrooms for our core target group and end-user’s usage Red Dot award 2021 for shower “Langfoss” and Peoples Choice Award, Swedish Design price (together with Rost Studio) in 2022. Svedbergs Dalstorp, Västra Götaland, Sweden Founded 1920 Net sales 2024 SEK 393m EBITA SEK 17m EBITA-margin 4,3% Employees* ~ 140 Geography Nordic Positioning mid-low to mid-high Q4 – 24 Q4 – 23 ldx YTD24 YTD23 ldx Net sales 102 113 90 393 480 82 EBITA 6 8 73 17 59 29 EBITA % 5,8 7,1 82 4,3 12,2 35
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Net sales 2024 Sweden 65% Norway 33% Finland 1% Other 1% 20 Founded 1985 Turnover 2024 SEK 165m EBITA SEK 16m EBITA-margin 9,8% Employees ~ 45 Geography Sweden and Norway Positioning Mid to mid-high Q4 – 24 Q4 – 23 ldx YTD24 YTD23 ldx Net sales 45 44 101 165 163 101 EBITA 5 4 132 16 12 133 EBITA % 11,6 8,9 130 9,8 7,4 132 Attractive design, functionality and quality at a lower price for our planet. Macro Design, Laholm Halland, Sweden ”The bathroom of the future"
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Net sales 2024 Denmark 92% Norway 6% Other 2% 22 Founded 1997 Turnover 2024 SEK 86m EBITA SEK 17m EBITA-margin 19,1% Employees* 16 Geography Denmark and Norway Positioning Mid-high Q4 – 24 Q4 – 23 ldx YTD24 YTD23 ldx Net sales 21 23 90 86 88 98 EBITA 4 5 80 17 18 93 EBITA % 18,1 20,4 89 19,1 20,2 95 Cassøe, Herning Jylland Danmark ”Cassøe markets and distributes designed quality products with the customer in focus” *(DK)
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Net sales 2024 Great Britain 94% Other 6% 24 Founded 1979 Turnover 2024 SEK 1 138m EBITA SEK 214m EBITA-margin 18,8% Employees* ~ 230 Geography UK and Ireland Positioning Roper Rhodes brand mid to mid-high R2 mid-low to mid Tavistock mid Q4 – 24 Q4 – 23 ldx YTD24 YTD23 ldx Net sales 275 250 110 1 138 1 062 107 EBITA 60 52 115 214 179 119 EBITA % 21,9 20,9 105 18,8 16,8 111 Rhodes, Bath UK “UK's bathroom brand of choice, by providing excellent and sustainable products and services through all touch points with our customers and consumers” Red Dot Award 2022 for the mirror “Loop” Fortis Supplier of the Year in Brassware, Accessories and Furniture Delivering best-in-class customer experience and industry-leading product vitality
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Net sales 2024 Netherlands 95% Other 5% 26 Founded 1996 Turnover 2024 SEK 401m EBITA SEK 89m EBITA-margin 22,3% Employees ~ 90 Geography Benelux, Germany Positioning Thebalux mid Primabad mid Q4 – 24 Q4 – 23 ldx YTD24 YTD23 ldx Net sales 95 30 321 401 30 1 347 EBITA 17 1 1 727 89 1 8 978 EBITA % 18,0 3,3 539 22,3 3,3 667 Thebalux, Zutphen, NL Well establish brands in the Netherland High focus on innovative designs and high quality products Offering includes a high level of customisations
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Key takeaways 28 Proven track record of profitable growth1 2 3 4 Sales excellence and broad channel presence Value-creating acquisition strategy Decentralised model with operational synergies 5 Commitment to innovation and sustainability
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Thank you! 29 Per-Arne Andersson, CEO per-arne.andersson@svedbergsgroup.com