Matas A/S : Q2 2021/22 Conference call presentation

Matas upgrades guidance, strong summer and new strategy launched

Q 2 r e p o r t 2 0 2 1 / 2 2

C o n f e r e n c e c a l l N o v e m b e r 4 , 2 0 2 1

Agenda

1.0 CEO comments

Gregers Wedell-Wedellsborg

2.0 Financial results for Q2 2021/22

Anders T. Skole-Sørensen

3.0 Guidance upgrade for 2021/22

Gregers Wedell-Wedellsborg
Gregers Wedell-Wedellsborg		Anders T. Skole-Sørensen
	CEO		CFO

4.0 Q&A

Gregers Wedell-Wedellsborg & Anders T. Skole-Sørensen

This interim report contains statements relating to the future, including statements regarding Matas Group's future operating results, financial position, cash flows, business strategy and future targets. Such statements are based on management's reasonable expectations and forecasts at the time of release of the announcement. Forward-looking statements are subject to risks and uncertainties and a number of other factors, many of which are beyond Matas Group's control. This may have the effect that actual results may differ significantly from the expectations expressed in the announcement. Without being exhaustive, such factors include general economic and commercial factors, including market and competitive conditions, supplier issues and financial and regulatory issues as well as any effects of measures to contain the spread of COVID-19 that are not specifically mentioned above.

Q2 Conference Call - November 4, 2021 | 2

1.0

CEO comments

Gregers Wedell-Wedellsborg

CEO

Q2 Conference Call - November 4, 2021 | 3

Online keeps momentum going in Q2

• Revenue growth 4.4% driven by online sales and range expansion o Growth 1.8% LFL vs Q2 2020/21 and 15.8% LFL vs Q2 2019/20

1. Web shops increased sales by 12.8% and physical stores sales were flat (down 0.5%)

• 1. Web Sundhed contributed with DKK 19m adding 2% growth
• Gross Margin improved to 44.2% (43.1%) due to better mix
• EBITDA before special items decreased by 8% to DKK 166m due to "investment" in future growth and normalisation
• 1. Normalisation of staff costs. Covid-19 related extraordinary trainee reimbursement (DKK ~14m) in Q2 last year.

1. Increased discretionary marketing costs to support launch of new assortment (Hair and Dermo) to drive growth

• 1. Some cost increases due to online growth (eg. faster delivery), addition of Web Sundhed and set-up of Matas Brands organisation
• EBITDA margin before special items of 17.0% versus the extraordinary high19.3% margin last year
• Guidance on growth and EBITDA margin before special items upgraded based on strong Q2

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Introducing Matas' new growth strategy - early results

Matas is looking to gain market share

Most used webshop in Denmark (Source The Danish Chamber of Commerce)

across categories and remain #1 online

• Matas.dk continued to progress on the Danish
  Chamber of Commerce' ranking of most used web shops
• Pro Hair care sales almost doubled supported by new brands and intensified marketing
• Health care shop-in-shops and new dermatologic brands launched online
• Marketing of our new dietary supplements (including probiotics developed by NovoZymes) was intensified

Zalando Matas Nemlig.com Elgiganten Coop.dk H&M Saxo.com Bilka.dk Just-Eat Jem & fix

Proshop

DSB

Magasin

Amazon

Boozt

5,3

4,0

2,6

2,1

2,5

2,1

1,8

1,2

1,6

1,6

1,3

2,1

1,1

1,1

1,0

1,1

1,0

1,6

0,9

0,9

0,8

0,9

0,9

0,9

0,8

0,8

1,1		1H 2021		1H 2020

0,8

0,9

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