Scanfil Oyj · OMXHEX:SCANFL
Scanfil Oyj — Scanfil Oyj Ord — Q4 2024 Earnings Presentation
29 slides from Scanfil Oyj's earnings presentation, Feb 21, 2025
Slide 1: Navigating challenges, delivering strong margins, and poised for growth in 2025
Navigating challenges, delivering strong margins, and poised for growth in 2025 CHRISTOPHE SUT, CEO KAI VALO, CFO 21 FEBRUARY 2025
Slide 2: Key events in Q4/2024
Key events in Q4/2024 Medtech & Life Science Regional organization Sustainability Investment in SRX • In 2024, we won two new • New regional organizational • The first CSRD report will be • Investment of EUR 4.3 million customers and increased the and management team published in March in Malaysian
Slide 3: New Management Team
New Management Team Riku Hynninen Christophe Sut CEO and acting VP of Americas Chief Procurement and Technology Officer Steve Creutz Kai Valo CFO VP of Northern Europe Started January 1, 2025 Anette Mullis Christian Kesten Chief People Officer VP of APAC, Since October 14, 2024 Started January 1, 20
Slide 4: Q4/2024 key financials and customer segments
Q4/2024 key financials and customer segments
Slide 5: Success in defending profit margin in challenging market
Success in defending profit margin in challenging market Q4/2024 • Adjusted profit margin 6.6%, underlying operating margin was 7.3% 212.3 M€ / -3.9% • New won deals EUR 61.0 million Turnover / YoY, % • A lot of new won projects are in a ramp-up phase during the -8.8% first quarter of 2025 Organic g
Slide 6: Turnover Q4/2021–Q4/2024
Turnover Q4/2021–Q4/2024 MEUR 250 5,3 14,6 7,9 3,1 29,5 19,6 3,1 0,7 200 17 1,5 1,3 14,4 1,3 150 191,7 196,6 212,9 211,9 222,3 224,6 243,3 212,8 220,8 198,9 195,5 173,3 212,3 100 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 6
Slide 7: Operating profit Q4/2021–Q4/2024
Operating profit Q4/2021–Q4/2024 MEUR 17,5 15 15,1 15,2 13,9 14,0 13,4 13,4 12,7 12,4 11,5 10 10,2 10,3 10,1 7,2% 7,2% 7,1% 7,2% 6,7% 6,4% 6,6% 6,0% 6,1% 5,3% 5,3% 5,4% 5 4,8% 0 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Adjusted operating profit, MEUR Operating pr
Slide 8: Stable customer base
Stable customer base 100% 13% 13% 90% 19% 80% 19 % 70% 42% 42% 36% 60% 50% 47 % 40% 34 % 30% 45% 45% 46% 20% 10% Industrial Energy & Cleantech 0% Medtech & Life Science 2022 2023 2024 Rest TOP10 (ex. Biggest) The biggest customer 21-Feb-25 8
Slide 9: Segment development in Industrial
Segment development in Industrial Turnover Won deals in 2024 Biggest won deals in Q4/2024 Y/Y: -5.0% 120 35 31,6 110 30 9.6 MEUR Mining 100 24,8 25 6.5 MEUR Logistics 90 20 17,5 80 5.0 MEUR Mining 15 70 9,3 60 10 … … 50 5 31.6 MEUR In total 40 0 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23
Slide 10: Segment development in Energy & Cleantech
Segment development in Energy & Cleantech Turnover Won deals in 2024 Biggest won deals in Q4/2024 Y/Y: -7.8% 25 22,8 95 19,9 9.0 MEUR Climate change mitigation 20 16,1 70 15 5.7 MEUR General 15 2.0 MEUR Climate change adaption 10 45 … … 5 19.9 MEUR In total 20 0 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q
Slide 11: Segment development in Medtech & Life Science
Segment development in Medtech & Life Science Turnover Won deals in 2024 Biggest won deals in Q4/2024 Y/Y: 7.6% 10 9,5 45 8,1 8,1 Medical system for intensive 4.5 MEUR care 2.7 MEUR Analytical equipment 5 4,5 30 0.9 MEUR CPR solution … … 15 0 9.5 MEUR In total Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/
Slide 12: CO2 emissions, fossil free energy, employee satisfaction
CO2 emissions Share of fossil free energy, % Employee satisfaction 2020 2021 2022 2023 2024 Target 2030 2020 2021 2022 2023 2024 Target 2030 2020 2021 2022 2023 2024 Target 2030 18000 70 80 16000 60 -52% +36pp 75 14000 50 +2p 12000 70 10000 40 65 8000 30 6000 60 20 4000 55 10 2000 0 0 50 21 February
Slide 13: 2024 key financials
2024 key financials SCANFIUL
Slide 14: Geared for growth – stabilizing margins and seeking growth
Geared for growth – stabilizing margins and seeking growth • Adjusted operating margin was 6.8%, underlying operating 2024 margin was 7.1% 779.9 M€ / -13.5% • New deals won EUR 187.5 million Turnover / YoY, % • Balance sheet is strong, net debt / EBITDA 0.43 -14.7% Organic growth, %, YoY • The board
Slide 15: Dividend has grown since 2012
Dividend has grown since 2012 • The Board proposes to pay 41% of the EPS i.e. EUR 0.24 per share CAGR 16.1% 0,30 0,25 0,24 0,23 0,21 0,20 0,19 0,17 0,15 0,15 0,13 0,11 0,10 0,09 0,08 0,07 0,05 0,05 0,04 0,00 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 40% 36% 33% 53% n/a 28% 29%
Slide 16: Financials
Financials CFO Kai Valo SCANFIUL
Slide 17: Focus on operational costs; Q4
Focus on operational costs; Q4 16 • The turnover for the Q4 was -1,0 EUR 212.3 million, EUR -8.6 or 14 -3.9% y/y 12 8,0 • Focus on operational costs was 10 driving the expenses lower by -8,6 EUR -8.0 million or -4,0%. 8 Operational costs included 13,4 14,0 negative impact of foreign 6 6,1% 1,9 excha
Slide 18: Focus on operational costs; 2024
Focus on operational costs; 2024 80 • The turnover for the year 2024 was EUR 779,9 million, EUR 60 -121,7 or -13.5% y/y -2,0 40 61,3 • Focus on operational costs was 53,1 6,8% driving the expenses lower by 20 6,7% EUR -117.9 million or -14,3% y/y. Operational costs included 0 -121,7 117,9 negative i
Slide 19: Strong financial position
Strong financial position EUR 539.1 million • Inventories 168,1 (209,0) 168,1 • Cash and cash equivalents totaled EUR 48.5 (21.2) million. Inventories 291 Equity 29,1 20,0 Goodwill Interest bearing debt • Fixed Assets 94,9 (85,3) 48,5 Other intangible assets Trade and other Cash and 69,7 liabilities
Slide 20: Net cash from operating activities Q4/2021–Q4/2024
Net cash from operating activities Q4/2021–Q4/2024 MEUR • In 2024 net cash flow 40 from operating activities 37,2 34,8 was EUR 92.1 (68.9) 30 million 25,2 20 23,4 21,8 • The positive change 10 13,9 resulted mainly from the 9,8 9,7 EUR 50.4 million cash 8 -0,4 flow impact from the -0,9 0 1,9 reductio
Slide 21: Net debt Q4/2021–Q4/2024
Net debt Q4/2021–Q4/2024 MEUR • Net Debt was EUR 21.2 (51.7) 100 million • Cash and cash equivalents totaled EUR 48.5 (21.2) million 80 • Interest-bearing liabilities were EUR 69.7 (73.0) million 60 • Total liquidity EUR 140 (104.6) million • EUR 91.5 (83,4) million in unused credit facilities. 40 •
Slide 22: Key figures
Key figures Equity Ratio Net Gearing • Equity ratio 55.5% (53.7%) 56 25 55,5 • Equity increased by EUR 25.0 million 55,5 19,4 20 • Balance sheet was up by EUR 21.1 55 million 54,5 15 54 53,7 10 53,5 7,3 • Net gearing 7.3 (19.4) 5 53 • Net debt was EUR 21,2 million and decreased by EUR 30.5 million 5
Slide 23: Outlook
Outlook SCANFIUL
Slide 24: Outlook and focus in 2025
Outlook and focus in 2025 We expect our turnover to be EUR 780–920 million and adjusted operating profit EUR 53–66 million. The first quarter of 2025 is a ramp-up quarter of projects we won in 2024. It builds-up a momentum for a brisk remainder of the year. Focus areas: • Build up sales pipeline wit
Slide 25: Q&A
SCANFIL Q&A
Slide 26: Key takeaways
Key takeaways • Q4/2024 • A solid 6.8% adjusted operating margin in a challenging market situation • EUR 61.0 million won deals, Medtech & Life Science strong with EUR 9.5 million in new sales in the fourth quarter and EUR 30.2 million in full year. • Net cash flow from operations exceeded EUR 92.1
Slide 27: Contact information and analysts
Carnegie AB, Stockholm Jakob Söderblom +46 734 178 643 jakob.soderblom@carnegie.se Contact information Inderes Oyj and analysts Antti Viljakainen +358 44 591 2216 antti.viljakainen(at)inderes.fi Nordea Oyj Pasi Väisänen CHRISTOPHE SUT, CEO +358 9 5300 5192 +358 407 318 411 pasi.vaisanen(at)nordea.co
Slide 28: Disclaimer
Disclaimer Not to be published or distributed, directly or indirectly, in any country where its distribution or publication is unlawful. Forward looking statements: certain statements in this presentation may constitute "forward-looking" statements which involve known and unknown risks, uncertaintie
Slide 29: Global contract manufacturer and systems supplier
Global contract manufacturer and systems supplier