Volati Ab · OMXSTO:VOLO
Volati Ab — Shareholder Meeting (April 2021)
25 slides from Volati Ab's shareholder meeting presentation, Apr 27, 2021
Slide 1: Webcast before the Annual General Meeting
April 27, Webcast before the 2021 Annual General Meeting Patrik Wahlén, Chairman of the Board Mårten Andersson, CEO Andreas Stenbäck, CFO and incoming CEO Rickard Andersson, Volati’s Auditor (EY) 1
Slide 2: All financial targets reached in 2020
All financial targets reached in 2020 Net sales EBITA SEK 6,696 m SEK 488 m Net sales (2019: 5,938) (2019: 388) +13% 2020 vs. 2019 EBITA growth per ord. share Operating cash flow 26% SEK 623 m (2019: 20%) (2019: 403) EBITA Return on adjusted equity Net debt/adjusted EBITDA +26% 51% -0.8 x 2020 vs. 2
Slide 3: Volati creates long-term value growth
Volati creates long-term value growth* EBITA growth of 38% CAGR since 2004. Net sales EBITA 8 000 1 400 1 229 1 263 7 000 1 200 6 000 1 000 5 000 800 4 000 600 3 000 433 377 326 318 513 400 2 000 215 227 142 89 1 000 99 76 69 200 28 60 7 16 - - 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Slide 4: Three main events during the year
Three main events during the year 4
Slide 5: The Covid-19 pandemic
The Covid-19 pandemic 1. Health and safety 2. Liquidity 3. Profitability 4. Growth 5
Slide 6: Continued growth – four synergistic add-on acquisitions during 2020
Continued growth – four synergistic add-on acquisitions during 2020 with a total turnover of 800 million Heco Nordiska Märkas Add-on acquisition Reason for acquisition Add-on acquisition Reason for acquisition for business area • Creates Sweden’s second-largest for business area • Complements Ettike
Slide 7: Divestment of business units in area Consumer
Divestment of business units in area Consumer In 2020, Volati sold Besikta Bilprovning and NaturaMed Pharma, which resulted in the decision to close the Consumer business area. The business area has generated a very good overall return with a capital gain of approximately SEK 335 million and total c
Slide 8: Volati is well positioned for long-term value growth
Volati is well positioned for long-term value growth 8
Slide 9: Strong financial capacity supporting future growth
Strong financial capacity supporting future growth Net sales EBITA Operating cash flow Net debt/adjusted EBITDA SEK 5,147 m SEK 464 m SEK 524 m 0.8 x (2020: 4,921) (2020: 421) (2020: 550) (2020: -0.8) 6 000 500 450 5 000 400 4 000 350 300 3 000 250 200 2 000 150 1 000 100 50 0 0 Q1 Q3 Q2 Q4 Q1 Q2 Q3
Slide 10: Strategic decisions to enable continued high growth rates
Strategic decisions to enable continued high growth rates Distribution and separate listing Business area Trading Acquisition-oriented of Bokusgruppen becomes Salix Group CEO and CFO • Provide Bokusgruppen with the • A more decentralised structure that • Andreas Stenbäck, Volati’s current platform t
Slide 11: Strong leadership in every part of the business – today and tomorrow
Strong leadership in every part of the business – today and tomorrow Volati works actively to ensure that the businesses have Two former Volati Management Program participants access to the right competence to match their strategy and reach their full potential. HR development programs: 1. Volati Ac
Slide 12: Established model for long-term value creation
ACQUISITION Established model for long-term ORGANIC value creation DEVELOPMENT REINVESTMENT 12
Slide 13: Taking Volati forward
Taking Volati forward 13
Slide 14: Volati as of today
Volati as of today Giving companies the right conditions to grow Strong platform with two fast growing business areas Structure and processes in place for continued long-term value growth 14
Slide 15: Volati is a diversified industrial group of well-managed companies
Volati is a diversified industrial group consisting of well-managed companies with good earnings Volati Net sales EBITA Operating cash flow SEK 5,147 m SEK 464 m SEK 524 m Salix Group Industry Five business units Four business units Business in 7 countries Business in 14 countries “Acquires and deve
Slide 16: Two fast growing decentralised business areas
Two fast growing decentralised business areas Volati Net sales EBITA CAGR SEK 5,147 m EBITA % 31 SEK 464 m (2016-2021) Industry Volati Industry Salix Group Net sales Net sales EBITA CAGR EBITA CAGR SEK 2,344 m SEK 2,804 m EBITA* % 23 EBITA* % 22 SEK 256 m SEK 292 m (2016-2021) (2016-2021) LTM Q1 202
Slide 17: Established model for long-term value creation
ACQUISITION Established model for long-term value creation ORGANIC DEVELOPMENT REINVESTMENT 17
Slide 18: Focus on two types of value-creating acquisitions
Focus on two types of value-creating acquisitions Add-on acquisitions Platform acquisitions • Decentralised • Centralised • Structures and processes in place • Wide expertise and experience • Integrated part of strategic work • Important sourcing channels in place • Natural industrial buyer • Solid
Slide 19: Six synergistic add-on acquisitions since 2020
Six synergistic add-on acquisitions since 2020 Heco Nordiska Beneli Märkas SALES SALES SALES January 2020 220 June 2020 155 September 2020 169 A total turnover MSEK MSEK MSEK of over SEK 1 Bn. Duschprodukter Pisla JPT Sweden SALES SALES SALES Focus on September 2020 260 January 2021 102 March 2021 1
Slide 20: Increased central focus on acquisitions creates better conditions for new platforms
Increased central focus on acquisitions creates better conditions for new platforms • Structural changes enable increased central focus on M&A ─ Separate listing of Bokusgruppen ─ More decentralised Salix Group Acquisition capacity ─ New acquisition-oriented CEO and CFO SEK 2,0+ Bn. • Significant fi
Slide 21: Volati has a strong position as an acquirer of medium sized companies
Volati has a strong position as an acquirer of medium sized companies Volati as an owner • Long-term, responsible and sustainable • In the case of platform acquisitions, Volati can offer co-ownership and that the business remains independent and local Volati as an acquirer • Reliable, quick, fair an
Slide 22: What are we looking for?
What are we looking for? “… creates value by acquiring companies with proven business models, leading market positions and strong cash flows …” SEK 25 m + in EBITA Volati wants to be able to give companies a better opportunity to succeed with us than would be possible on their own Some of the platfo
Slide 23: Volati as of today
Volati as of today +30% of average annual EBITA growth the past 5 years Strong platform with two fast growing business SEK + 1 bn of acquired sales since 2020 areas SEK + 2 bn of acquisition capacity Decentralised model ensuring organic growth Structure and processes in place for continued Processes
Slide 24: Volati – a growing Swedish Industrial Group
Volati – a growing Swedish Industrial Group 24
Slide 25: volati.
volati.