Slide 1: Interim Q4 2024
Interim Q4 2024 INTERIM REPORT Q4 2024 1
Slide 2: Table of Content
1. Highlights TABLE OF 2. Financials CONTENT 3. Summary 4. Q&A INTERIM REPORT Q4 2024 2
Slide 3: Highlights 2024 – Group
Highlights 2024 – Group Record cash flow and a good organic growth trend in 2024 MSEK 12M 2024 12M 2023 Change, % Sales 35 662 32 150 11% • Sales at 35 662 MSEK (32 150), an increase of 11% Organic growth, % 1,9% Change through acquisitions, % 9,5% • EBITA* at 3 776 MSEK, corresponding to a growth o
Slide 4: Highlights Q4 2024 – Group
Highlights Q4 2024 – Group Good quarter with strong organic growth MSEK Net sales and EBITA, excl. IAC*, % • Sales at 8 808 MSEK (7 627), an increase of 15% 10 000 8 000 9,8% 9,5% • EBITA* at 810 MSEK (721), corresponding to a growth of 12% 9,2% 6 000 7,9% with a margin of 9,2% (9,5). EBITA margin n
Slide 5: Highlights Q4 2024 – Group
Highlights Q4 2024 – Group • Good organic growth across all product segments MSEK Organic sales per product segment Sales split 10 000 • Product segment HVAC continued the positive trend from Q2 9 000 6% 8 000 and Q3 7 000 32% 6 000 8% 5 000 • OEM segment, continued stable growth 4 000 59% 4% 3 000
Slide 6: Highlights Q4 2024 – Division EMEA
Highlights Q4 2024 – Division EMEA Stable quarter negatively affected by FX • Full year sales growth of 3% and EBITA in line with LY MSEK Q4 24 Q4 23 Change, % 12M 24 12M 23 Net sales 4 934 4 563 8 20 819 20 254 • Division EMEA reported a sales growth of 8% in the quarter – Of which currency effect,
Slide 7: Highlights Q4 2024 – Division APAC
Highlights Q4 2024 – Division APAC Strong quarter finishes off a good year • Full year sales growth of 16% and EBITA growth of 31% MSEK Q4 24 Q4 23 Change, % 12M 24 12M 23 Net sales 1 891 1 613 17 6 551 5 633 • Sales in the quarter increased by 17% – mainly driven by Of which currency effect, % 0,7
Slide 8: Highlights Q4 2024 – Division North America
Highlights Q4 2024 – Division North America Stable quarter finishes off a year of growth • Full year sales growth of 32% and EBITA growth of 26% MSEK Q4 24 Q4 23 Change, % 12M 24 12M 23 Net sales 2 001 1 468 36 8 363 6 336 • Good sales growth in the quarter of 36% Of which currency effect, % 0,8 EBI
Slide 9: Sales development, %
Financials Q4 2024 – Sales development, % % 55 50 45 40 35 30 25 50 46 20 42 38 36 15 31 30 31 25 10 15 5 12 12 4 0 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Of which organic growth 17,9 11,6 15,8 13,3 18,6 17,9 14,5 1,7 -4,4 -4,1 -4,1 2,2 2,7 6,3 INTERIM REPORT Q
Slide 10: EBITA development
Financials Q4 2024 – EBITA* development MSEK % 11,7 11,9 1 200 11,4 12 11,3 1 100 11 1 000 9,8 10 900 9,5 9,5 9,5 9,2 800 9 700 8 600 1 148 1 084 7 500 1 016 959 400 810 6 702 721 733 300 570 5 200 4 100 0 3 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 EBITA EBITA % * Excluding items affect
Slide 11: EBITA
Financials Q4 2024 – EBITA* Quarter FY +12% +11% 810 9,5 9,2 3 776 10,6 10,6 721 3 398 Q4 23 Q4 24 Q4 23 Q4 24 2023 2024 2023 2024 EBITA MSEK EBITA % EBITA MSEK EBITA % * Excluding items affecting comparability INTERIM REPORT Q4 2024 11
Slide 12: Financials Q4 2024
Financials Q4 2024 Organic EBITA* EPS change* Sales growth growth (change in EBITA, %) (change in %) 15% 12% 17% 6% * Excluding items affecting comparability INTERIM REPORT Q4 2024 12
Slide 13: P&L
Financials Q4 2024 – P&L MSEK Q4 2024 Q4 2023 Change, % 12M 2024 12M 2023 Sales 8 808 7 627 15% 35 662 32 150 EBITA excl. IAC 810 721 12% 3 776 3 398 EBITA margin excl. IAC, % 9,2% 9,5% 10,6% 10,6% EBIT excl. IAC 756 671 13% 3 571 3 219 EBIT 756 611 3 571 3 159 Net financial income/expense excl. IAC
Slide 14: Earnings per share
Financials Q4 2024 – Earnings per share* SEK +6% 4,5 4,0 3,5 3,0 2,5 4,39 2,0 4,16 1,5 +17% 1,0 0,5 0,89 0,76 0,0 Q4 23 Q4 24 12M 23** 12M 24 * Excluding items affecting comparability ** Adjusted to reflect the same average number of outstanding shares for both periods INTERIM REPORT Q4 2024 14
Slide 15: Operating cash flow
Financials Q4 2024 – Operating cash flow MSEK 1 600 1 500 -100 1 400 -143 1 300 520 6 1 200 1 100 1 000 900 800 700 1 298 600 500 1 015 400 300 200 100 0 EBITDA Working capital CapEx Leasing Other Q4 24 INTERIM REPORT Q4 2024 15
Slide 16: Operating cash flow
Financials Q4 2024 – Operating cash flow MSEK 2 000 1 500 1 000 1 810 1 231 1 298 500 1 084 633 582 354 0 -209 -196 -500 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 INTERIM REPORT Q4 2024 16
Slide 17: Net debt
Financials Q4 2024 – Net debt Net debt Net debt / EBITDA* excl. leasing and pension MSEK Q4 24 Q4 23 2,6 LTM EBITDA excl. IAC 4 560 4 090 2,4 2,3 2,2 2,1 LTM EBITDA impact of leasing (IFRS 16) -653 -579 2,1 2,0 2,0 1,9 1,9 1,8 LTM EBITDA excl. leasing (IFRS 16) and IAC 3 908 3 511 1,8 1,7 1,6 Net de
Slide 18: High level summary 2024
High level summary 2024 Record cash flow and a good organic growth trend in 2024 • Total sales growth of 11%, attributed to organic growth of 2% and acquisitions growth of 9% • EBITA, excl. IAC, of 3 776 MSEK and a growth of 11%. Good EBITA margin of 10,6% – in line with LY despite some headwinds •
Slide 19: Summary Q4
Summary Q4 Q4 – Good quarter with strong organic growth • Total sales growth of 15% (organic +6%) – good organic growth across all product segments • EBITA* growth of 12% with a margin of 9,2% (9,5). The EBITA margin was negatively affected by FX effects and the dilution effect of recently acquired
Slide 20: Q&A
Q&A INTERIM REPORT Q4 2024 20
Slide 21: Thank you
Thank you INTERIM REPORT Q4 2024 21