Investment Ab Latour Class B · OMXSTO:LATO_B
Investment Ab Latour Class B — Q4 2024 Earnings Presentation
18 slides from Investment Ab Latour Class B's earnings presentation, Feb 11, 2025
Slide 1: Year-end report 2024
Year- end report 2024
Slide 2: Latour – a mixed investment company
Latour – a mixed investment company WHOLLY-OWNED INVESTMENT OPERATIONS PORTFOLIO Bemsiq Alimak Group Caljan ASSA ABLOY Hultafors Group CTEK Innovalift Fagerhult Nord-Lock Group HMS Networks Swegon Nederman Latour Industries Securitas Sweco Latour Future Solutions Tomra Part-owned holdings Troax Page
Slide 3: Active principal owner in listed holdings
Active principal owner in listed holdings Net sales, m SEK if not stated otherwise Ebit , m SEK if not stated otherwise 8 000 1 200 200 000 30 000 1 500 150 10 000 1 000 5 000 1 000 1 250 125 8 000 800 4 000 800 6 000 900 150 000 22 500 1 000 100 6 000 600 3 000 600 4 000 600 100 000 15 000 750 75 4
Slide 4: Total return for the listed portfolio 2024
Total return for the listed portfolio 2024 Investment portfolio (14.3%) 40% SIXRX (8.6%) 30% 20% 10% 0% -10% -20% -30% -40% Alimak Securitas Nederman Sweco Tomra Assa Abloy Troax HMS Fagerhult CTEK The total return including share price growth and dividend, for each investment company compared with
Slide 5: The wholly-owned industrial operations
The wholly-owned industrial operations M SEK 40 000 4000 36 000 3600 32 000 3200 28 000 2800 24 000 2400 20 000 2000 16 000 1600 12 000 1200 8 000 800 4 000 400 0 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Quarterly results Orders recei
Slide 6: Acquisitions during 2024: SEK 3.0 billion
Acquisitions during 2024 Total annual contribution SEK 3.0 billion* * Including 3 acquisitions finalized in January 2025 Page 6
Slide 7: Organic growth in a challenging market
Organic growth in a challenging market Net sales and operating profit SEK M Q4 2024 Q4 2023 2 000 500 471 346 400 Net sales 1 500 300 Operating result* 85 55 1 000 200 500 100 Operating margin %* 18.2 15.8 0 0 2020 2021 2022 2023 2024 * Excl. IFRS 16 Net sales Operating profit Page 7
Slide 8: Market conditions improving
Market conditions improving Net sales and operating profit SEK M Q4 2024 Q4 2023 3 000 600 2 500 500 Net sales 356 467 2 000 400 Operating result* 36 75 1 500 300 1 000 200 Operating margin %* 10.0 16.1 500 100 0 0 2020 2021 2022 2023 2024 * Excl. IFRS 16 Net sales Operating profit Page 8
Slide 9: Challenging market conditions
Challenging market conditions Net sales and operating profit SEK M Q4 2024 Q4 2023 10 000 1 500 1,893 1,835 8 000 1 200 Net sales 6 000 900 Operating result* 333 307 4 000 600 2 000 300 Operating margin %* 17.6 16.7 0 0 2020 2021 2022 2023 2024 * Excl. IFRS 16 Net sales Operating profit Page 9
Slide 10: Strong development despite weaker market
Strong development despite weaker market Net sales and operating profit SEK M Q4 2024 Q4 2023 3 000 450 400 2 500 Net sales 696 673 350 2 000 300 250 Operating result* 83 59 1 500 200 1 000 150 100 Operating margin %* 11.9 8.8 500 50 0 0 2020 2021 2022 2023 2024 * Excl. IFRS 16 Net sales Operating p
Slide 11: Building the basis for future business areas
Building the basis for future business areas Net sales and operating profit SEK M Q4 2024 Q4 2023 2 000 200 1 750 175 Net sales 479 490 1 500 150 1 250 125 Operating result* 47 36 1 000 100 750 75 500 50 Operating margin %* 9.9 7.3 250 25 0 0 2020 2021 2022 2023 2024 * Excl. IFRS 16 Net sales Operat
Slide 12: Gradually tougher market
Gradually tougher market Net sales and operating profit SEK M Q4 2024 Q4 2023 2 500 500 514 470 2 000 400 Net sales 1 500 300 Operating result* 136 98 1 000 200 500 100 Operating margin %* 26.5 20.9 0 0 2020 2021 2022 2023 2024 * Excl. IFRS 16 Net sales Operating profit Page 12
Slide 13: Good performance on most markets
Good performance on most markets Net sales and operating profit SEK M Q4 2024 Q4 2023 10 000 1 500 2,610 2,185 8 000 1 200 Net sales 6 000 900 Operating result* 266 226 4 000 600 2 000 300 Operating margin %* 10.2 10.3 0 0 2020 2021 2022 2023 2024 * Excl. IFRS 16 Net sales Operating profit Page 13
Slide 14: Net asset value SEK per share by end of December
Net asset value SEK 215 per share by the end of December Investment Portfolio Wholly-owned Operations Part-owned Operations 88.7 61.1 0.2 Less net debt, etc. Development during the year 11.0 per cent -12.3 Latour’s net asset value 137.7 SEK per share All amounts are in SEK billion unless 215 stated
Slide 15: Financial targets
Financial targets Annual growth (minimum for all operations) >10% Operating margin (average for all operations) >15% Return on operating capital (minimum for all operations) >15% Page 15
Slide 16: Proposed dividend increase
Proposed dividend increase 5,00 4.60** 100% 4,50 4.10 4,00 3.70 3,50 3.30 3.00 3,00 1.25* of received dividends from 2.50 Investment Portfolio 2,50 2.25 2.00 2,00 40-60% 1.69 1,50 1,00 0,50 of net profit from wholly- owned operations 0,00 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 * Original
Slide 17: Responsible active owner, creating value for our shareholders
Latour – a long-term sustainable investment company Responsible active owner Creating value for our shareholders Page 17
Slide 18: p LATOUR
a p LATOUR Q8A