FM Mattsson Mora Group AB (publ)

God morgon allihopa och välkomna till vår presentation av tredje kvartalet 2024 här på FN Mattsson Group. Vi som presenterar idag är vanliggårdning Erik Sterp som är CEO för koncernen. Jag och Martin Gallagher som är CFO. Vi tar oss igenom ett bildspel här och lite avslutande. and it is worth recapping how we work in the company. We currently have six product brands that we run our sales and business within. This product portfolio and the brands make us a good breadth and depth to work with our customers in the Nordic market and also our international markets, especially in Western Europe. And looking at how the third quarter has gone here, I see that it has been roughly in line with what we expected and when we summed up the second quarter, and also in line with that we then saw a continued challenging market and conjecture for us. When we sum up the sales, we can now see that we have a reduced sales with a little over 4%. Then we see that there are quite big differences between our two den geografiska områden där den nordiska marknaden hade ett betydligt tuffare tredje kvartal och försäljningen minskade med 8,6 %. Medan i vår internationella affär så höll vi försäljningen uppe bättre och landade på 1,4 % upp i försäljning. Sedan har vi en påverkan på vår vita marginal som en följd av den sagade försäljningen. Vi ser där ett marginal som uppgått till knappt 90 procent jämfört med motsvarande kvartal 2023 där vi var uppe och nosade på 12 procent. Det som vi tar med oss när vi tittar på våra marginaler är att vi kan konstatera att vi i kvartalet har en bättre bruttomarginal. Vi kan också se att vi har engångsposter båda de här åren under tredje kvartalet som påverkar och Martin kommer in lite mer på det alldeles strax här. Then, of course, we are actively working with our costs to handle the lower sales volume that we have seen during the third quarter. We also think that we have a good control of the cost level. Then it is with the connectivity level we have that we continue to work actively with different forms of cost efficiency in all parts of the company. And if we look at the market situation, we see that there is a continued challenging conjecture and a warning for our customers to invest in, especially in bathrooms and kitchens. And we generally see that in all of our countries and customer segments. Then we can see some differences, but in general we see that this is a challenging market and, as we talked about earlier, a little tougher in the Swedish market, especially in the in the third quarter. And we also have a hope that a slower inflation and also a rate level that starts to come down will be able to create a little better conditions and optimism for our customers to invest in the future. But we think that we will face a relatively tough situation in the current situation, a bit into 2025. and makes us as an organization continue to work clearly and intensively with different efficiencies to improve the situation. At the same time, we want to highlight that we also want to prioritize growth opportunities. We see a number of market segment where our quarter has moved forward our positions and taken market share and we see continued opportunities linked to it under the coming quarters, and this is primarily also connected to our international business, so we are taking this into account for the future. When we sum up the third quarter, there are also some highlights and successes we want to share with you, and which are in line with our strata on the island, but also with the connection areas we are in. En viktig del är såklart vårt produkterbjudande som vi har till våra kunder under kvartalet. Här har vi lanserat en ny serie för varumärket Mora Armatur, en serie som heter Mora Lynx, som talar mycket design för de mer inredningsintresserade kunderna och med en tydlig fokus på hållbarhet i den produkten. Vi tror mycket på den för framtiden och det känns kul att kunna ha släppt den i marknaden under det tredje kvartalet. En investering vi också har jobbat med en stund här är att fortsätta vår fina utveckling för Damixa på exportmarknaden och framförallt i Benelux-länderna. Det vi nu har under tredje kvartalet är en ny Damixa Experience Center i Holland. En tydligare plats för att kunna ta emot våra kunder och visa våra produkter och föra kvalificerade affärsdiskussioner. Så det ser vi också som en. trend during the quarter, which I think we will feel good about in the coming quarter. We have also worked a lot with the cost issue during the quarter. We have a production in Mora that has also been affected when the volumes become lower, so we have worked actively with different forms of cost adjustments, both directly in production and in terms of our supply, but also with other costs that are related to the business.

Ett arbete som har börjat visa resultat och som vi fortsätter jobba med under kommande kapital. Jag släpper över till Martin som får gå igenom siffrorna mer i detalj.

Tack Fredrik. Som ni kan se har vi minskad omsättning med 4,4 % eller 20 miljoner kronor och det motsvarar 2.6% organically with budget changes, part of the difference there. But we have managed to increase our budget margin. This is partly due to the product mix, how we have worked with purchasing and product savings, även att vi har sänkt våra personalkostnader i fabriken i Mora. Det har tillkommit engångskostnader om cirka 2,5 miljoner kronor under kvartalet. Men trots det har vi som sagt blivit en procentenheterförbättring på bruttomarginalen. On the other hand, for EBITDA, it is a reduction from 53 to 38 million kronor, which mainly depends on our other revenues, which were 13 million kronor last year and almost zero this year. And it was electricity support that we have helped with 2023 of 7.6 million kronor, as well as value-added profits that we did not see during this period. Absolutely, yes, that is the biggest winner there. And if we go on to look at the quarter, the estimated result, there we have 5 percent reduction in sales, both in absolute terms and organically. But we see for the whole period that we have a certain improvement in the gross margin for the same reasons that Jörg has explained, but the delivery part It came more during the third quarter, and it was the rest that we saw earlier this year. And on the cost side, in addition to these entry-level positions, there are higher costs for research and development, both of screening of launched products and arbete som har ökat samt vid vissa administrativa kostnader. Därför har vi den här utvecklingen. EBITDA som underliggande har minskat från 192 till 148 miljoner. Then, if we look at the cancer flow, this is a joy to say that there is an increase there. Again, this is the highest level if you look at the cancer flows from the current business, in parentheses, as it has been during this entire period, as you can see here. It is much thanks to our work with laws som vi har sänkt värdet på med 70 miljoner kronor i år och nu är det på en nivå som vi kan hålla ungefär med vissa säsongsvariationer under det kommande året och vi ska fortsätta på längre sikt att jobba med