Byggma Asa · OSL:BMA
Byggma Asa — Q2 2022 Earnings Presentation
26 slides from Byggma Asa's earnings presentation, Aug 25, 2022
Slide 1: Q2 2022 results
[Byggma at a glance] Q2 2022 results 25 August 2022 Questions can be directed to ir@byggma.no 1
Slide 2: Company
BYGGMA Company group
Slide 3: Byggma is a leading Nordic supplier of building product solutions
Byggma is a leading Nordic supplier of building product solutions Introduction Leading supplier of building product solutions in the Nordics, with a special focus on various boards, beams, windows & doors, and lighting products Vennesla, Norway ~740 Headquarter Employees Byggma owns 8 companies/
Slide 4: #1 market position for boards and beams in the Nordics and growing internationally
#1 market position for boards and beams in the Nordics and growing internationally Byggma segment Boards I-beams Windows and doors Lighting Companies / brands Product illustrations Clear #1 position within particle boards, Nordic market 1 decorative interior 1 Clear #1 position Growing market Growin
Slide 5: Highly attractive offering towards all the major building material chains in the Nordics
Highly attractive offering towards all the major building material chains in the Nordics Highest production Superior product In-house developed capacity in the quality versus innovative products Nordics1 competition and solutions Good control of the No need for large Large flexibility in distributio
Slide 6: Financials
BYGGMA group Financials
Slide 7: P&L Summary and Highlights
P&L Summary and Highlights Sales growth of 12.6% from Q2 2021 to Q2 2022, mainly due to price increases. Negatve timing effect from Easter. EBIT margin of 12.8% in Q2 2022, compared to 9.1% in Q2 2021. Negatve timing effect from Easter. Price increases implemented as of 1 April 2022 to compens
Slide 8: Consolidated balance sheet
Consolidated balance sheet Solid balance sheet with low leverage and hidden reserves in real estate and land Growth in inventory and accounts payable due to increased raw material prices Equity ratio of 32.4% as per 30 June 2022 8
Slide 9: Consolidated income statement
Consolidated income statement 9
Slide 10: Byggma is set to continue demonstrated growth through identified growth avenues
Byggma is set to continue demonstrated growth through identified growth avenues Growth initiatives (NOKm) The leading Nordic building M&A solution provider Expand product portfolio, diversify into new segments and Product innovation 3,000 strengthen private labels New product launches and value-adde
Slide 11: Large growth potential for further consolidation within building material products
Large growth potential for further consolidation within building material products Several attractive M&A targets has been identified Breakdown of identified M&A targets (# targets) Byggma M&A strategy and track record Adjacent products include wood By product offering fibreboards, particle and MD
Slide 12: Investment highlights
Investment highlights The leading Nordic provider of woodchip boards, decorative interior panels, wood fibre boards, MDF interior walls & ceiling panels, and I-Beams Market leading position Growing position in Europe and within adjacent product areas Sales agreements with all major building ma
Slide 13: Large potential from recent product innovations
Large potential from recent product innovations Walls2Paint Premium Ceiling Proff Vegg Smartpanel Wet Wall 2014 2020 2020 2021 A ready to paint plain ceiling panel Click-based wall boards Moisture resistant wood fibre boards with a unique 4-sided locking profile Description Wood-based, wallp
Slide 14: Segment information
Segment information Sales revenue (NOKm) 2.2022 22021 H1 2022 H4 2024 2021 2020 Panel sales to extemal customers 478 a9 969 831 1 588 1450 Beam sales to external customers 115 103 225 185 418 293 Window sales to external customers 74 66 145 108 229 214 Lighting sales to external customers 16 18 44 4
Slide 15: Byggma still has ample available production capacity and high growth potential from value-added products
Byggma still has ample available production capacity and high growth potential from value-added products Company / brand Key financials (2021) Nominal production capacity Available capacity Growth potential Other potential Large potential from Production capacity can transitioning to higher share of
Slide 16: Targeted approach towards environmentally friendly production and initiatives
Targeted approach towards environmentally friendly production and initiatives 1 Raw material sourcing Byggma utilize sustainable wood raw materials from certificated sources 2 Production line 5 Product recycling Byggma has invested in modern and energy efficient production Byggma’s wood-based produc
Slide 17: Byggma's manufacturing and product offering contribute to a more environmentally friendly society
Byggma‘s manufacturing and product offering contribute to a more environmentally friendly society 5.8% 47% The CO2 abatement from Masonite’s I-beam systems use Byggmas board products 47% less raw material compared corresponds to 5.8% of the to massive tree constructions Norway’s total road traffic e
Slide 18: Byggma takes an active role towards sustainability and responsible production
Byggma takes an active role towards sustainability and responsible production Byggma’s main goal is to develop and deliver sustainable solutions based on renewable raw materials and unique competense. Sustainability is, and has always been, a core element in Byggma’s business model and a natural par
Slide 19: Leading Nordic presence, with growing international customer base
Leading Nordic presence, with growing international customer base Production facilitites and offices Revenue by country (NOKm) 3 000 Production and distribution facilities Distribution and offices 2 500 2 344 113 1 Birkeland 16 45 6 2 052 87 2 Braskereidfoss 92 2 000 74 16 45 3 Fredrikstad 5 1 784 7
Slide 20: Strong topline and profitability improvements last few years
Strong topline and profitability improvements last few years Revenue (NOKm) Consolidated EBITDA and EBIT (NOKm) Adj. 8.1% 4.9% 13.1% 9.4% 13.7% 9.8% 12.5% 9.0% 15.3% 12.2% margin 2 344 2 052 1 783 1 619 1 655 1 515 1 383 1166 320 270 230 212 193 169 143 146 105 73 2019 2020 2021 YTD 2021 YTD 2022 20
Slide 21: Robust cash conversion ratio
Robust cash conversion ratio Operating cash flow and cash conversion (NOKm) Byggma has a history of strong cash flow Cash conversion (%) generation over the last years which is set to 43% continue going forward 77% This has allowed the company to invest significantly in product innovation in add
Slide 22: Consolidated cash flow statement
Consolidated cash flow statement 22
Slide 23: Byggma has a rich history characterized by successful acquisitions and product innovations
Byggma has a rich history characterized by successful acquisitions and product innovations Company milestones Revenue (NOKm) Introduction of decorative Introduction of Premium tails design and click Ceiling and Huntonit 2 500 solution on bathroom Proffvegg boards from Fibo-Trespo 12% CAGR since 1998
Slide 24: Byggma operates 8 high-end manufacturing and distribution facilities
Byggma operates 8 high-end manufacturing and distribution facilities Huntonit Eiendom AS Aneta Lighting AB Location: Vennesla, Agder Location: Växjö, Sweden Total area: 78,112m2 Total area: 31,728m2 Production area: 19,664m2 Warehouse facility: 6,500m2 Year of construction: 1948-1988 Year of constru
Slide 25: Key takeaways
Key takeaways Market leading position Robust underlying market Strong brands and product offering 1 Long history of profitable growth Attractive growth trajectory 25
Slide 26: [Byggma at a glance]
[Byggma at a glance] www.byggma.no 26