Indutrade Ab · OMXSTO:INDT
Indutrade Ab — Q3 2022 Earnings Presentation
20 slides from Indutrade Ab's earnings presentation, Oct 28, 2022
Slide 1: Q3 Report 2022
An entrepreneurial world where people make the difference Bo Annvik, President and CEO Q3 Report 2022 Patrik Johnson, CFO 28 October 2022
Slide 2: Highlights third quarter 2022
Highlights third quarter 2022 ▪ Continued solid demand level and increased sales growth Net Sales ▪ Majority of companies had positive order development but some variations between segments and companies 6.7BSEK ▪ Supply chain disturbances remained but improvements at some companies ▪ EBITA above SE
Slide 3: Order intake
Order intake QUARTERLY GROWTH MSEK Q growth 8 000 28 000 9% 26 000 8% 7 000 24 000 8% 8% 7% 22 000 6 000 20 000 6% 5 000 18 000 5% 16 000 4% 4% 4 000 14 000 3% 12 000 3 000 10 000 2% 2 000 8 000 1% 2017 2018 2019 2020 2021 2022 0% 0% Q Order intake R12M Order intake Organic Acquisitions Divestments
Slide 4: Net sales
Net sales QUARTERLY GROWTH MSEK Q growth 7 000 28 000 16% 6 500 26 000 14% 6 000 24 000 14% 5 500 22 000 12% 5 000 20 000 10% 4 500 18 000 4 000 16 000 8% 8% 3 500 14 000 6% 3 000 12 000 2 500 10 000 4% 5% 2 000 8 000 2% 2017 2018 2019 2020 2021 2022 0% 0% Q Net sales R12M Net sales Organic Acquisit
Slide 5: Organic Sales Growth – major countries
Organic Sales Growth – major countries ++ ++ ++ +++ ++ ++ + North America ++ +++ Asia +++ 5
Slide 6: Organic Sales Growth trend
Organic Sales Growth trend 20% • Organic growth eight consecutive 15% quarters • Increasing growth rate 10% • Combination of volume and price 5% • Organic growth in all Business Areas and most companies 0% • Strong order back-log -5% -10% 2017 2018 2019 2020 2021 2022 Organic growth Organic growth 5
Slide 7: EBITA
EBITA QUARTERLY GROWTH MSEK Q growth 1 200 18% 16% 16% 14% 1 000 14% 14% 12% 800 12% 10% 10% 600 8% 8% 9% 400 6% 6% 5% 4% 200 2% 4% 0 0% 2% 2017 2018 2019 2020 2021 2022 0% 0% Q EBITA* Q EBITA margin* Organic Acquisitions Divestments Currency *) Excluding restructuring costs 2017-Q4 Q3-22 MARGIN Q G
Slide 8: Organic sales growth Q3 by Business Area
Organic sales growth Q3 by Business Area Total growth: +23% +30% +22% +33% +20% +25% +31% +30% 25% ▪ Organic sales growth in all Business Areas, and 7 out of 8 grew double digit 23% 20% ▪ Strongest growth in Business Areas Flow Technology and Industrial Components ▪ Positive development in most comp
Slide 9: EBITA margin by Business Area
EBITA margin by Business Area 20% 18,6% ▪ All time high EBITA margin 18% 17,9% ▪ Main contribution from newly acquired 15,9% 16,1% 16,1% companies and the strong organic growth 16% 15,1% ▪ Development dampened by increased activity 14% 13,7% and expense levels and slightly lower gross margins 12% ▪
Slide 10: Acquisitions 2022
Acquisitions 2022 Acquisitions Business Area Annual Sales Q1 Autoroll UK Ltd UK 67 MSEK NTi Audio AG MST 90 MSEK Stabalux GmbH FMS 40 MSEK PMH International AB IC 140 MSEK Q2 acti-Chem A/S Flow 50 MSEK Pro Diagnostics Scandinavia AB IC 50 MSEK Oscar Medtec AB IC 70 MSEK Beck Sensortechnik GmbH MST 1
Slide 11: Key data summary
Key data summary MSEK 2022-Q3 2021-Q3 Change 2022-YTD 2021-YTD Change Order Intake 6,535 5,428 20% 20,649 17,181 20% Net Sales 6,707 5,290 27% 19,788 15,989 24% Gross margin, % 34.2 35.1 34.6 34.7 EBITA 1,035 810 28% 3,017 2,366 28% EBITA-margin, % 15.4 15.3 15.2 14.8 Net financial items -42 -20 110
Slide 12: Cash Flow from operating activities
Cash Flow from operating activities MSEK 1 000 ▪ Operating cash flow during the 900 quarter was 624 (671) MSEK 800 ▪ The decline versus last year was 700 mainly related to increases in inventory, driven by supply chain 600 disturbances 500 ▪ The working capital efficiency was 400 slightly lower than
Slide 13: Earnings per share
Earnings per share SEK SEK 2,0 8 ▪ EPS during the quarter grew 26% 1,8 7 to SEK 1.90 (1.51) 1,6 6 ▪ Improvements mainly driven by 1,4 higher EBITA 5 1,2 ▪ 3- and 5-year rolling 1,0 4 4Q earnings per share 0,8 3 CAGR*, were 20% and 18% 0,6 2 0,4 1 0,2 0,0 0 2017 2018 2019 2020 2021 2022 Q EPS R4Q EPS
Slide 14: Net debt
Net debt SEK 8 000 120% ▪ The interest-bearing net debt increased to 7,267 (4,958) 7 000 100% MSEK 6 000 80% ▪ The increase compared to last 5 000 year is mainly due to the 4 000 60% slightly dampened operational 3 000 cash flow and continued high 40% acquisition pace 2 000 20% ▪ Net debt/equity rat
Slide 15: Agile through a business cycle
Agile through a business cycle Focus on technically Flexibility to make Capital light and advanced products Strong exposure to decisions adapted to people light businesses with recurring sales growth segments the local conditions pattern No or low segment dependency 15
Slide 16: Decarbonisation – a key priority!
Decarbonisation – a key priority! GROUP LEVEL: COMPANY LEVEL: Focus on strategic decision “Biggest emitters” “Emission cluster” making and climate To address 20 % of To address 80 % of governance total emissions total emissions Carbon literacy Climate Guide and tailored emission reduction initiative
Slide 17: Key takeaways
Key takeaways ▪ Continued sales increase and all-time high margin. ▪ Despite increased uncertainties and some indications of lower activity in a few customer segments, the Capital Markets Day overall demand situation remains at a good level. 2022 ▪ Record high order backlog supports good invoicing a
Slide 18: Thank you!
Thank you! Indutrade
Slide 19: Financial calendar & contact details
Financial calendar & contact details Year-end Report 1 January – 31 December 2022 Interim Report 1 January – 31 March 2023 Interim Report 1 January – 30 June 2023 Interim Report 1 January – 30 September 2023 Contact: ir@indutrade.com +46 8 703 03 00
Slide 20: Trusted by entrepreneurs
MT indutrade Trusted by entrepreneurs