Nyab Ab · OMXSTO:NYAB
Nyab Ab — Investor Presentation (January 2025)
22 slides from Nyab Ab's investor presentation, January 2025
Slide 1: Company presentation
Company presentation 1
Slide 2: NYAB in brief
NYAB in brief NYAB founded Employees Q3’24 Specialised contractor of sustainable 2013 487 infrastructure and renewable energy projects Revenue LTM Q3’24 Free cash flow LTM Q3’24 317 21 Focused on MEUR MEUR three growth markets EBIT LTM Q3’24 EBIT margin LTM Q3’24 Infrastructure 20 6.2% MEUR Net debt
Slide 3: Journey starts - Main focus on land development
2013 2014 2017 2019 2022 2023 2024 2025 Journey starts - Business area Group company Group company Expands to Finland - Energy sector Back in Sweden - Listing Acquisition of Main focus on land Construction is NYAB Infrastruktur NYAB Mälardalen is Listing at First North expansion change to First Nort
Slide 4: Strategic acquisition strengthening NYAB's position and providing expansion into Norway
Strategic acquisition strengthening NYAB’s position and providing expansion into Norway About the acquisition Acquisition rationale ▪ In January 2025, NYAB acquired Dovre Group’s Norwegian consulting Grow construction in Norway and global project personnel business: Dovre’s strong presence in Norway
Slide 5: Dovre is complementary to NYAB's current business
Dovre is complementary to NYAB’s current business NYAB stand-alone Dovre NYAB incl. Dovre Geographical presence Global markets Global markets Sector focus Energy, infrastructure, industrials Energy, infrastructure, industrials Energy, infrastructure, industrials General contracting ✓ - ✓ Consulting
Slide 6: Long history of uninterrupted profitable growth
Long history of uninterrupted profitable growth Financial performance, NYAB EURm 316,7 280,4 253,3 86,5 51,6 93,2 11,8% 230,2 10,6% 10,0% 10,2% 10,2% 8,5% 187,2 7,9% 131,7 201,7 7,4% 123,0 96,2 6,2% 5,6% 5,4% 77,8 45,1 29,5 31,1 8,2 0,0 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 LTM Q3'2
Slide 7: Focus on specialised and complex infrastructure and energy projects
Focus on specialised and complex infrastructure and energy projects NYAB sector focus Infrastructure Energy Industry ▪ Roads, bridges, airports and railways ▪ Implementing renewable energy ▪ Various types of industrial facilities ▪ Land, water and underground projects (e.g. wind and solar power) ▪ H
Slide 8: Infrastructure
Infrastructure Selection of recent projects Huddinge Municipality | 2024-2028: Expansion of instructure in Vidja Luleå Municipality | 2021-2026: Framework agreement extension for infrastructure works Trafikverket | 2024-2025: Widening a stretch of road 261, Ekerövägen Trafikverket | 2024-2026: Exten
Slide 9: Energy
Energy Selection of recent projects Svenska kraftnät | 2022-2026: 90 km of the 400 kV transmission line between Sweden and Finland Vattenfall | 2024-2025: Construction of new overhead lines to Boden Industrial Park Skarta Energy | 2023-2026: Constructing a large- Vattenfall | 2025-2027: Multi-year f
Slide 10: Industrial
Industrial Selection of recent projects Duroc Rail | 2024-2025: Construction of a industrial building at Luleå Iddustrial Park LKAB | 2022-2024: Relocation and renovation of heritage houses in urban relocation project Talga | 2023: Groundworks for a large-scale battery anode plant in Luleå Industria
Slide 11: Targeting sectors exposed to global mega trends
Targeting sectors exposed to global mega trends ▪ Significant growth of RES expected coming 10 years ▪ Increased electrification puts stress on the already underinvested Green transition electricity transmission capacity ▪ Climate change exerts stress on current infrastructure ▪ Pandemic and rising
Slide 12: Significant investment needs over the coming years within NYAB's target markets
Significant investment needs over the coming years within NYAB’s target markets Energy Road and railway Water and wastewater Nordic annual public grid investments, EURbn1) Swedish public transportation infrastructure plan, EURbn2) Nordic annual public water infrastructure investments, EURbn3) 3,5 4.
Slide 13: Asset-light business model focused on design and project management
Asset-light business model focused on design and project management NYAB white-collars, %1) Overview of the value chain >70 Project managers Engineers Site managers Revenue per FTE2) 711 684 Main contractor: NYAB Foundation and Project development Project management Construction FY'23 Q3'24 excavati
Slide 14: Industry-leading performance compared to peer groups
Industry-leading performance compared to peer groups Superior historical average Focused on high value-add Strong EBIT margin Average EBIT margin, L5Y1) Revenue per FTE comparison 2023, EURk1) EBIT margin, Q3 2024 LTM1) 9,1% 684 8,2% Organisational scale-up set for significantly higher growth 471 5,
Slide 15: Robust tender model balancing risk and upside potential
Robust tender model balancing risk and upside potential NYAB tender model Key project selection criteria ▪ Regular monitoring of upcoming tenders Sufficient complexity implying less Potential tenders ▪ Established support systems competition from other providers ▪ Local project managers responsible
Slide 16: High-performance business with profitable growth
High-performance business with profitable growth Quarterly revenue development Quarterly EBIT development EURm EURm 90,3 93,6 -4.9% 3.9% 5.8% 21.4% -5.2% 6.2% 7.5% 7.5% 0.7% 5.0% 9.5% 89,9 88,1 87,8 76,1 19,2 Impacted by the sale of 65,3 60% of Skarta Energy to 55,7 59,2 CapMan (~15 MEUR) 8,9 39,2 6
Slide 17: Asset-light business model providing high cash generation
Asset-light business model providing high cash generation Free cash flow Cash conversion Leverage EUR million EUR million EUR million 16,8 34,9 13,5 147% 25,5 10,0 10,0 9,5 7,0 6,1 8,4 122% 110% 105% 1,5 80% 83% 21,3 15,0 22,3 24% 21,0 0,9 0% 0,2x 0,3x 0,3x -5,6 -7,2 0,2x -19,2 0,06x 3,7 -0,3x -0,3x
Slide 18: Strong potential for continued growth
Strong potential for continued growth NYAB EBIT Leverage the Dovre acquisition Selective M&A ▪ Gain a seamless end-to-end Organic expansion ▪ Selective approach to M&A solutions by combining Dovre's ▪ Need to see clear path to value consulting services with NYAB's construction capabilities Market gr
Slide 19: Long-term financial targets and past performance
Long-term financial targets and past performance Growth Profitability Capital Structure Direct shareholder return KPI and Target KPI and Target KPI and Target KPI and Target Revenue Growth EBIT Margin Net Debt in relation to EBITDA Dividend > 10% > 7.5% < 1.5 > 35% of (previous year) Net Profit LTM
Slide 20: Why invest in NYAB?
Why invest in NYAB? Strategic growth markets and geographical 1 leverage 2 Asset light, scalable business model 3 High-performance culture Project: Vattenfall Electric Distribution Incentivised leadership with strong growth 4 track-record Client: Two 130 kV power lines between Hedenlunda and Oxelösu
Slide 21: Disclaimer
Disclaimer The information contained in this presentation is intended solely for your personal reference and information purposes. Such information is subject to change without notice, its accuracy is not guaranteed, and it may not contain all material information concerning NYAB AB (the “Company”).
Slide 22: Thank you!
Thank you! Investor Relations NYAB ir@nyabgroup.com nyabgroup.com 22