Alimak Group Ab · OMXSTO:ALIG
Alimak Group Ab — Q3 2016 Earnings Presentation
16 slides from Alimak Group Ab's earnings presentation, Oct 28, 2016
Slide 1: Alimak Group Quarter 3, 2016
Alimak Group Quarter 3, 2016 Tormod Gunleiksrud, CEO Stefan Rinaldo October 28, 2016
Slide 2: Profitable growth in Q3
Profitable growth in Q3 • Order intake +6% - Order intake in Construction Equipment +59% • Revenues +9% - Strong revenue growth in Construction Equipment +61% • EBIT* margin of 15.4% (15.2) • EBIT* margin in After Sales of 32.4% (29.5) Note: EBIT* means before non recurring expenses 2
Slide 3: Market development – Q3
Market development – Q3 • Strong construction market in most geographies - China and Brazil remain weak • Continued weak market condition in upstream Oil & Gas and Mining • Prolonged sales cycles in the industrial market 3
Slide 4: Construction Equipment
Construction Equipment • Strong growth in order intake coming from solid demand for Alimak´s broadening product range Revenue EBIT* 200 50 • Increased revenues 150 147 40 • Improved EBIT* margin 30 91 100 20 17 • Further extension of distributor network 80+ 50 10 4 0 0 2015 Q3 2016 Q3 2015 Q3 2016 Q
Slide 5: Industrial Equipment
Industrial Equipment • Order intake lower than expected Revenue EBIT* • EBIT* margin impacted by lower volumes 120 102 15 100 • Industrial market still under pressure 80 79 10 7 5 60 0 40 20 -5 0 -10 -6 2015 Q3 2016 Q3 2015 Q3 2016 Q3 Order intake • 41 MSEK (84), -51% Revenues • 79 MSEK (102), -23%
Slide 6: Rental
Rental • Good level of order intake but lower vs. previous year Revenue EBIT* 100 25 80 • Increased revenues driven by higher utilisation 80 74 20 15 • Improved EBIT* margin 60 40 10 8 6 20 5 0 0 2015 Q3 2016 Q3 2015 Q3 2016 Q3 Order intake • 93 MSEK (108), -14% Revenues • 80 MSEK (74), +9% EBIT* an
Slide 7: After Sales
After Sales • Order intake growth of +4% with increased sales in the construction market Revenue EBIT* 200 100 167 165 • Improved EBIT* margin due to the strategic 150 80 initiatives 60 49 54 100 40 • Oil & Gas and Mining still under pressure 50 20 0 0 2015 Q3 2016 Q3 2015 Q3 2016 Q3 Order intake •
Slide 8: Business Areas - Share of total Revenue & EBIT
Business Areas - Share of total Revenue & EBIT Revenues Q3 2016 – share of group total (Q3 2015) Construction Equipment 31% (21%) Industrial Equipment 17% (24%) Rental 17% (17%) After Sales 35% (38%) EBIT* Q3 2016 – share of group total (Q3 2015) Construction Equipment 24% (6%) Industrial Equipment
Slide 9: Order intake Q3 2016
Order intake Q3 2016 • Order intake 512 MSEK (485) +6% Order intake (MSEK) - +7% in local currencies 512 • Growth in order intake mainly 485 driven by strong performance in 418 Construction Equipment Q3 2014 Q3 2015 Q3 2016 9
Slide 10: Revenues Q3 2016
Revenues Q3 2016 • Revenues 471 MSEK (434), +9% Revenues (MSEK) - +9% in local currencies 471 427 434 • Revenue growth mainly driven by strong performance in Construction Equipment Q3 2014 Q3 2015 Q3 2016 10
Slide 11: EBIT* Q3 2016
EBIT* Q3 2016 • EBIT* 73 MSEK (66) EBIT* (MSEK) 72 73 66 • EBIT* increase vs. last year due to - Higher volumes in Construction Equipment - Efficiency improvements in After Sales and Rental - Negative EBIT* impact from low volumes in Q3 2014 Q3 2015 Q3 2016 Industrial Equipment EBIT* Margin (%) • EB
Slide 12: Cash flow and Net debt Q3 2016
Cash flow and Net debt Q3 2016 • Cash flow from operating activities Cash Flow (MSEK) -8 MSEK (67) - Growth and high share of 67 revenues late in the quarter • Net debt 399 MSEK (491) • Leverage (Net debt/EBITDA ratio) at 1.0 (1.5) Q3 2015 Q3 2016 -8 12
Slide 13: EPS, Q3 and January - September
EPS, Q3 and January - September EPS (SEK) Q3 EPS (SEK) Jan-Sept 3.36 27.3 1.45 1.18 0.84 Q3 15* Q3 16 9-months 15* 9-months 16 *Calculated based on the existing number of shares, 43,326,289 13
Slide 14: Order intake and Revenue R-12, MSEK
Order intake and Revenue R-12, MSEK 14
Slide 15: EBIT* R-12
EBIT* R-12 Note: EBIT* means before non recurring expenses 15
Slide 16: Outlook 2016
Outlook 2016 • Industrial market still under pressure • Continued strong demand in construction market • As in the previous year, I expect a finish in line with last year’s good volumes and margins 16