Slide 1: Q1 2020 presentation
DRAFT Q1 2020 presentation 7 May 2020
Slide 2: Instalco
Instalco A leading Nordic installation group in heating and plumbing, electrical, ventilation and cooling 72 individual strong local brands (7 May) Highly decentralised structure Deliver high margins over time Key financials (LTM) Net sales Order backlog SEK 6,149 million SEK 5,215 million A
Slide 3: Q1 2020 Highlights
Q1 2020 Highlights Sales and profitability • Strong quarter despite corona situation Net sales • Net sales growth 37.6% SEK 1,676 million • Organic growth 11.4% Adjusted EBITA • Strong cash flow 131 million SEK 131 million • Stable order backlog Adjusted EBITA margin • Launch of new sustainability p
Slide 4: The covid-19 situation
The covid-19 situation • Crisis has not hit the construction and installation sector quite as hard as it has other sectors • No significant disturbances • Minor disturbances in some projects and services • Deliveries are working • More sick leave • Preparing for the impact that is likely to occur •
Slide 5: Group development – Net sales and EBITA
Group development – Net sales and EBITA Net sales growth (SEK million) Adj. EBITA (SEK million) and adj. EBITA margin (%) 180 10% 11.4% -0.7% 160 9% 16,5% 14.6% 8% 140 17.4% 24.6% 26.8% 7% 27.1% 120 6% 1218 100 1416 1652 5% 1264 80 157 979 1406 4% 1174 131 1264 60 120 123 127 998 107 3% 92 40 75 73
Slide 6: Group development – Order backlog
Group development – Order backlog Order backlog (SEK million) • Growth of 18.8% (compared with Q1 2019) 6 000 • Continued stable order 5 000 backlog ratio of 0.85x (relative to 12 months 4 000 rolling net sales) 3 000 5 215 4 865 4 391 4 508 4 418 2 000 3 736 3 875 3 724 4 063 1 000 0 Q1 Q2 Q3 Q4 Q1
Slide 7: Examples of projects in Q1
Examples of projects in Q1 “The Hospital of the future”, Sörmland, Sweden Preschool, Esbo, Finland Hospital project in collaboration with NCC Two Instalco subsidiaries: LVI-Urakointi and Region Sörmland Paavola and Twinputki Expansion of hospitals in Eskilstuna, New built preschool Nyköping
Slide 8: Segment development - Sweden
Segment development - Sweden Key financials Q1 2020 • The Swedish operations have coped with the Corona pandemic very well Net sales • Still high rate of construction for SEK 1,261 million schools, preschools and hospitals EBITA EBITA margin • Net sales growth 39.2% • Organic growth 13.5% SEK 128 mi
Slide 9: Segment development – Rest of Nordics
Segment development – Rest of Nordics • Slow start of the year Key financials Q1 2020 • Shut-down of society due to Corona Net sales situation in Norway and Finland has slowed down the rate of production SEK 415 million somewhat EBITA EBITA margin • Net sales growth 33.0% SEK 18 million 4.5 % • Orga
Slide 10: Acquisitions 2020
Acquisitions 2020 Acquisition Discipline Segment Estimated yearly sales (SEKm) Acquired Elinstallationer Ullsand Bengtsson AB (ELUB) Electrical Sweden 69 Q1 Haug og Ruud VVS AS Heating & Plumbing Norway 71 Q1 Östersjö Elektriska AB Electrical Sweden 25 Q1 TOTAL 165 9 *For companies acquired, estimat
Slide 11: Examples of acquired companies in Q1
Examples of acquired companies in Q1 ELUB, Sweden Haug og Ruud, Norway Acquisition of ELUB in Växjö Haug og Ruud VVS in Lillehammer serving the market in county of Innlandet Electrical installation Ventilation and heating & plumbing Stable and mature company installations as well as follow
Slide 12: • Wastewater heat exchanges • LED lighting • Charging stations
• Wastewater heat exchanges • LED lighting • Charging stations • Air cleaning
Slide 13: • Solar panels • Energy savings programs • Property automation
• Wastewater heat exchanges • LED lighting • Solar panels • Wastewater heat exchanges • Charging stations • Energy savings programs • LED lighting • Air cleaning • Property automation • Charging stations • Heat pumps • Air cleaning
Slide 14: Financial targets and dividend policy
Financial targets and dividend policy Area Target Comment Average sales growth should be at least 10% per year over a business cycle Acquired sales and EBITA in line Growth with plan Growth will take place both organically and through acquisitions Margin Instalco aims to deliver an adjusted
Slide 15: Summary
Summary • Strong quarter despite Corona situation • Crisis has not hit the construction and installation sector quite as hard as it has other sectors • Good profitability, strong growth and high cash flow • Launch of New sustainability program • New strategy for increased service offering • Very hig
Slide 16: Me, LING
Me, LING IN A , ai, A, -. GHOST os TOWN INSTALCO +5
Slide 17: INSTALCO +6
INSTALCO +6
Slide 18: APPENDIX
APPENDIX 17
Slide 19: Quarterly data
Quarterly data SEKm 2017 Q1 2017 Q2 2017 Q3 2017 Q4 2018 Q1 2018 Q2 2018 Q3 2018 Q4 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Net sales 689 781 708 935 979 1,174 998 1,264 1,218 1,406 1,416 1,652 1,676 Growth, % 45.2% 30.5% 27.3% 20.3% 42.2% 50.2% 40.8% 35,1% 24,4% 19,8% 41,9% 30,7% 37,6% EBITDA 38 62