Instalco Ab · OMXSTO:INSTAL
Instalco Ab — Q2 2021 Earnings Presentation
19 slides from Instalco Ab's earnings presentation, Aug 25, 2021
Slide 1: Instalco Q2 presentation
Instalco Q2 presentation 25 August 2021 1
Slide 2: This is Instalco
This is Instalco • A leading Nordic installation group within heating and plumbing, electrical, ventilation, cooling, industry and technical consulting • 100 subsidiaries – highly specialised local companies • 4 300 employees • Highly decentralised structure • Supported by a small central organisati
Slide 3: Key financials, LTM
Key financials, LTM Net sales, million SEK Order backlog, million SEK 7.973 6.610 Adjusted EBITA, million SEK Adjusted EBITA margin, % 693 8,7 No of employees (30 June) Acquired annual sales, million SEK 4,256 1.517 3
Slide 4: Q2 2021 Highlights
Q2 2021 Highlights • Strong quarter despite disturbances Key financials Q2 2021 caused by the pandemic Net sales • Net sales growth 33.9% • High organic growth, 12.0% • Segment Sweden strong – segment Rest SEK 2,311 million of Nordic below desired level Adjusted EBITA 195 • Ten acquisitions – strate
Slide 5: Net sales
Net sales • Net sales growth (SEK million) 12% 0% 21,9% 5
Slide 6: EBITA
EBITA 250 10% 9% • Adj. EBITA (SEK million) and adj. EBITA margin (%) 200 8% 7% 150 6% 5% 100 4% 3% 50 2% 1% 0 0% Q1 2018Q2 2018Q3 2018Q4 2018Q1 2019Q2 2019Q3 2019Q4 2019Q1 2020Q2 2020Q3 2020Q4 2020Q1 2021Q2 2021 Adjusted EBITA Adjusted EBITA margin 6
Slide 7: Order backlog
Order backlog 8000 • Growth of 10.1% 7000 (compared with Q2 2020) 6000 • Continued stable order backlog ratio of 0.83x 5000 (relative to 12 months rolling net sales) 4000 3000 2000 1000 0 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 7
Slide 8: Segment development - Sweden
Segment development - Sweden • Strong and solid results by the Swedish Key financials Q2 2021 operations Net sales • Stable demand for technical installations • Organic growth 16.6% • Net sales growth 39.4% SEK 1,825 million EBITA EBITA margin SEK 169 million 9.2 % Order backlog SEK 5,336 million 8
Slide 9: Segment development – Rest of Nordic
Segment development – Rest of Nordic • Net sales growth 16.6% Key financials Q2 2021 • Recovered after last quarter result Net sales 486 • Continued action plan for higher margins in Norway SEK million • Still result below desired level - partly due to pandemic EBITA EBITA margin SEK 25 million 5.2
Slide 10: Acquisitions 2021
Acquisitions 2021 Acquisition Discipline Segment Estimated yearly sales (SEKm) Acquired JB Elektro AS Electrical Rest of Nordic 40 Q1 Lincom AB Electrical Sweden 33 Q1 Nässjö Teknikprojektering AB Technical consulting Sweden 15 Q1 Stockholm Luftkompetens AB Ventilation Sweden 85 Q1 Kempes El AB Elec
Slide 11: Examples of acquired companies in Q2
Examples of acquired companies in Q2 Nihlén, Gothenburg, Sweden Inva Engineering, Oslo, Norway • Specialist in road and street lightning • Typical example of add on acquisition and charging stations • Strengthen Andersen og Aksnes in the • Expanding area for Instalco area of energy optimisation • An
Slide 12: Financial targets and dividend policy
Financial targets and dividend policy Area Target Comment Status • Average sales growth should be at least 10% per year over a Growth business cycle 25.0% YTD • Growth will take place both organically and through acquisitions Margin • Instalco aims to deliver an adjusted EBITA margin of 8.0% 8.2% YT
Slide 13: Examples of projects in Q2
Examples of projects in Q2 Rosersberg logistics Road lightning project Högdalen metro depot Center, Sweden Tromsö, Norway Stockholm, Sweden • Ohmegi • JB Elektro • Three Instalco companies • Electrical design • Change of 1300 and installation in road lights in remote • Expanding metro 75 000 sqm isl
Slide 14: Summary
Summary Strong quarter despite affected by pandemic Ten acquisitions and strong pipeline 14
Slide 15: Changes in the management team
Changes in the management team 15
Slide 16: The Instalco model
The Instalco model Mature leadership 16
Slide 17: INSTALCO
INSTALCO
Slide 18: INSTALCO
INSTALCO 18
Slide 19: INSTALCO
INSTALCO 19