Instalco Ab · OMXSTO:INSTAL
Instalco Ab — Q4 2024 Earnings Presentation
19 slides from Instalco Ab's earnings presentation, Feb 13, 2025
Slide 1: Q4 2024 presentation
Q4 2024 presentation 13 February 2025
Slide 2: This is Instalco
This is Instalco A leading Nordic group within heating and plumbing, electricity, ventilation, industry and technical consulting Project planning, installation, service and maintenance of systems installed at properties and facilities Highly decentralised structure – specialised local companies >6,0
Slide 3: Key financials, LTM
Key financials, LTM Net sales, million SEK Order backlog, million SEK 13,690 9,002 EBITA adj., million SEK EBITA adj. margin, % 944 6.9 Cash flow from operations, million SEK Service share of revenue YTD, % 946 35 3
Slide 4: Quarterly highlights
Quarterly highlights Key financials Q4 2024 Net sales • Challenging market in all of 2024 met by continuous adjustments which were SEK 3,610 million accelerated in Q4 – one-off costs EBITA adj. 260 • Expansion to Germany and continued building of automation offering SEK million • Announcement of cli
Slide 5: Net sales and order backlog (SEK million)
Net sales and order backlog (SEK million) • Net sales development of 4,000 3,873 0.7% -6.8% to SEK 3,610 (3,873) million 3,500 3,610 • Organic development -7.4%, while acquired 3,000 -7.4% -0.1% growth contributed 0.7% 2,500 2,000 • Organic order backlog growth of 6.7% - though we remain selective o
Slide 6: EBITA development (SEK million and margin %)
EBITA development (SEK million and margin %) • EBITA amounted to SEK 195 (310) 350 10% million 9% 300 • EBITA margin of 5.4% (8.0) – 8% adjusted for non-recurring costs 250 7% margin amounted to 7.2% 6% Non-recurring costs: 200 SEK 65 million impacted EBITA 5% SEK 94 million impacted EBIT 150 4% • A
Slide 7: Segment Sweden
Segment Sweden Key financials Q4 2024 Net sales • Net sales amounted to SEK 2,463 (2,703) million Organic development -9.1% SEK 2,463 million Acquired growth of 0.3% EBITA adj. EBITA margin adj. • EBITA down to SEK 135 (247) million, corresponding to a margin of 5.5% (9.1) - adjusted for one-off cos
Slide 8: Segment Rest of Nordics
Segment Rest of Nordics Key financials Q4 2024 Net sales • Net sales amounted to SEK 1,147 (1,170) million Organic development -3.1% SEK 1,147 million Acquired growth of 1.5% EBITA adj. EBITA margin adj. • EBITA amounted to SEK 58 (62) million, corresponding to a margin of 5.0% (5.3) - adjusted for
Slide 9: Cash generation (SEK million)
Cash generation (SEK million) • Cash conversion stable and quarterly cash flow from operations improving to SEK 471 (432) million, despite the lower earnings – a result of continued focus on working capital and invoicing • Negative impact from financing activities due to repayment of debt SEKm Q4 20
Slide 10: Strategic targets
Strategic targets Growth Profitability ≥10% Average sales growth should be at least 10% per year over a business cycle. Growth will take place both organically and through acquisitions 8% Instalco aims to deliver an EBITA margin of 8.0% Cash conversion Capital structure (Net Debt/EBITDA) 100% Instal
Slide 11: Project: Joint assignment in Finland
Project: Joint assignment in Finland • Kuopion LVI-Talo and Twinpukti won a joint assignment for installations at a major grocery store project in Kuopio. • New construction of approximately 12,000 square metres. • Heating & plumbing, ventilation and sprinkler installations. • Project value of appro
Slide 12: CEO's theme: Expansion into Germany
CEO’s theme Expansion into Germany 12
Slide 13: FABRI COMPANIES
FABRI COMPANIES 2024 Strong locally & Strong as a group
Slide 14: Deal structure – shared risk and upside
Deal structure – shared risk and upside Stage 4 Stage 3 Stage 2 Stage 1 Options 17% (68%) outstanding shares 27% (51%) 2029 or later 2030-2033 24% Q1’26 - Q2’27 Q4’24 14
Slide 15: Fabri companies
12 companies The foundation of our Group is formed by economically well-positioned craft businesses that have a strong regional presence with their brand »400 people All employees are characterized by their in-depth specialist knowledge, enriching the collaboration and strengthening our entire team.
Slide 16: Fabri companies
14 companies The foundation of our Group is formed by economically well-positioned craft businesses that have a strong regional presence with their brand. »500 people All employees are characterized by their in-depth specialist knowledge, enriching the collaboration and strengthening our entire team
Slide 17: A platform for German expansion
A platform for German expansion • Fabri invests in successful, regionally rooted installation businesses • Each of the companies operates independently, flexibly, and autonomously • Decentralization determine the daily actions • Decisions are made by the local decision-makers • Fabri stands as a str
Slide 18: Summary
Summary • Increased mitigation efforts in Q4 – measures will gradually take effect during the coming year • Improved order backlog – we remain selective and cautiously optimistic • High services share of sales – adaptive organization • Climate targets to strengthen our position as a reliable partner
Slide 19: Q&A
Q&A Full power installations from a powerful team