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1NobiaGroup’sstrategyPresentationbyFredrikCappelen,CEO18September20032Agenda•Nobiavisionandbusinessconcept•MajortrendsintheEuropeanKitchenmarket•Nobia’sobjectives–whatwearesettoachieve•Nobia’sstrategy–howweaimtoachieveourobjectives•Summary3VisionTobeEurope'sleadingretailerandmanufacturerofkitchens,bathroomsandstoragesolutionsandthemostprofitablebusinesswithinthissectorbydeliveringworld-classretailingandmanufacturingcapabilities.4BusinessConceptWedevelop,manufactureandmarketacustomer-orientedrangeofinteriorsforkitchens,bathroomsandstoragesolutionsviaourstrongbrands.Throughefficiencyimprovements,co-ordinationandbylearningfromeachotherintheareasofpurchasing,manufactureandmarketing,wecreateaddedvalueforbothourcustomersandourshareholders.Integratedmanufacturer-distributorprovideslongvaluechain5MajortrendsintheEuropeankitchenmarketthatinfluenceourwayforwardandourstrategy•Societyischanging•Themarketplaceischanging•ConsumersarechangingThefutureisfastapproachingandholdsopportunitiesforthosewhoact6MajortrendssocietyischangingTheOutsideWorld•ChangingExpenditurePatterns–Increasingdiscretionaryspend–Manymorewaystospendit:credit/equity,release/retail,experiences/Internet/telephone•24HourSociety–Goods&serviceswherewewantthem,whenwewantthem•FromMassSocietytoMassCustomization–Leveragingeconomiesofscaletogiveindividualsexactlywhattheywant,e.g.Starbucks•TheExperienceEconomy–Aswemoveupthehierarchyofneeds,experiencebecomesaprimarymotivator7MajortrendsmarketplaceischangingHomeMarketplace•Spendingonhomesandimprovementsup(HomeandGarden),thehomeisincreasinglycentraltooursociallives,fashion-driven,shorterlifespans–Fromreplacementtodesiredrivenpurchasing–Receptivetonewideas/designs•Variedrolesmeansnumerousdemands–Work,restandplay,flexibilityiskey,traditionalboundariesdissolve–Expressionofourindividuality•Thebattleforcustomersisfoughtinthestores–Polarisation:DIYorBIDDYs(BuyIt,Don’tDoItYourselves)•Stronghousingmarket8MegatrendsmarketplaceischangingPolarisationofmarketsPolarisationindependentofincome23%24%31%36%40-45%30%34%49%49%10-20%31%35-40%29%20%20%19731981198619902010HighHighHighqualityproductsMedium/averagemarketsegmentsCheapproducts8%7%6%5%5%Source:B.A.T.Institut,BBE,GFK9MajortrendsConsumersarechangingTheSinglesareComing010203040501900192019401960198020002020%ofpopulation1Person3People5+People•Singlesrecognizedasmajoreconomicforce•Growingnumberofhouseholds•Declineoftraditionalfamilyunit•GrowthofcitycentrelivingandcontemporarystyleHouseholdsizes(Germany)Source:StatistischesBundesamt2001,forecastZukunftsinstitut10MajortrendsConsumersarechangingPocketsFullofMoney00,10,20,30,40,50,61978198319881993199820032008EURbnHouseholdincomeofpersonsagedbetween55and65PrivateexpenditureThemonthlydisposableincomeof“youthfulseniors”inGermanyisrisingSource:StatistischesBundesamt1999,forecast:Zukunftsinstitut11MajortrendsConsumersarechangingGrowthinConsumerSpendingDistributionofaveragemonthlyincomeperhousehold(Germany)02004006008001000EUR199620012006199647557210910915229226766677020014760791131251492632767568342006587190122145182264309787939TelecommunicationMediaHealthClothingRecreationHolidaysFoodMobilitySavings,otherRentandfurnitureSource:Mercer/HBV200012MajortrendsConsumersarechangingConsumerspending,preferencesofSwedesborninthe1940s0255075100TravelHomeimprovementBooksOutdoorlifeCultureSportsactivitiesCookingAppearanceMusic&ArtsNeedleworkGolf,SailingNightlifeTravel,53%%Homeimprovement,52%Source:SkandiaSeniorbaromter/TEMO,May200313MajortrendsConsumersarechangingConsumersare...•Moreaffluent•Livingincreasinglyvariedlives•Lesslikelytobelivinginatraditionalfamilyhome•Shoppingwheretheywantto,whentheywantto•Spendingmoreonleisureandexperiences•Seekingtomaximisethequalityoftheirpreciousfreetime•Morevalueconsciousthaneverbefore•Demandingmorefromtheshoppingexperience•Asconcernedwiththeirhomeastheyarewiththeirwardrobe•Thinkingoffriendsasfamily14MajortrendsConsumersarechangingConsumersfeel...•Betterinformedandmoresavvy•Confidentenoughtomaketheirowndecisions•Overwhelmedbychoice•Yetkeentoexpresstheirindividuality•Quitepreparedtogoelsewhereifthey’renothappy15MajortrendsConsumersarechangingExperienceEconomyShareofaddedvalueinan“experienceproduct”(example:coffee)Source:Pine&Gilmore,TheExperienceEconomyRawmaterialProductServiceExperience00,501,001,502,002,503,00EUR16Majortrends-opportunitiesShoppingworlds2010bymotive-achallengeforthekitchenindustryServiceSmartShoppingLuxuryExperienceShoppingMasscustomisingConvenienceShoppingClassicE-CommerceIndividualityPriceExperience17Majortrends-opportunitiesPositioning–theimportanceofdifferentiation•Plentyofmanufacturersmakekitchensthateveryonelikesandcanafford•Asaconsequence,therearesufficientlook-alikesinthekitchen-market•Theproductisnolongerthemostimportant–insteaditistheexperiencethatthecustomerperceivesbybuyingacertainbrand•Thebrandidentityistransmittedthroughthesaleschannel.Thereforethepresentationiskey18Majortrends-opportunitiesDifferentiationSERVICEAboveandbeyondRANGEWhateveryourbudgetINNOVATIONAlwaysthefirstEXPERTISEEve