Slide 1: Bravida Q4 2024
Bravida Q4 2024 Mattias Johansson, CEO Åsa Neving, CFO 11 February 2025
Slide 2: Q4 highlights
Q4 highlights • Flat growth as expected due to challenging markets and strict project selection, organic growth -4% and growth from acquisitions +4% Net sales growth • Service sales growth +5% 0% • Order intake decreased -26%, based on a selective tender strategy • Order backlog decreased during the
Slide 3: 2024 highlights
2024 highlights Net sales • Total growth, +1% +1% • Organic growth -3%, 5% growth from acquisitions and -1% from FX Service sales growth • • Increased sales in service +5% Increasing sales in Norway, Denmark and Finland +5% Order backlog • Decreasing sales in Sweden due to a soft market in the south
Slide 4: Improved cash flows, low net debt and higher proposed dividend
We delivered improved cash flows and a low net debt. The board propose a higher dividend, SEK 3.75 per share 2024 Dividend increase per share from IPO, SEK and CAGR 3.75 Cash flow YoY 3.50 +34% 3.00 3.25 +16% 2.50 Cash conversion 2.25 105% 2.00 1.55 1.25 1.00 Net debt/EBITDA 1.0x 2016 2017 2018 2019
Slide 5: Net sales performance in Q4, SEKm
Net sales performance in Q4, SEKm Sales growth 0% 8,106 336 8,108 Organic growth -4% -21 -313 Growth in service +5% Growth in installation -4% Growth from acquisitions +4% FX effects 0% Net sales Q4 Organic growth M&A Currency effect Net sales Q4 2023 2024 8
Slide 6: EBITA in Q4, SEKm
EBITA in Q4, SEKm – • EBITA-margin 7.5% (7.4%) • EBITA-margin improved in Denmark, Finland 604 596 and Norway – • As expected, a weak market in the south part of Sweden brought down the group margin – • Items affecting comparability SEK 41m referring to restructuring costs in south part of Sweden. 7
Slide 7: Order intake and backlog, SEKm
• Order intake decreased -26% YoY in Q4, due to Order intake and backlog, SEKm lower volumes of installations • Strong comps due to a large infrastructure order last year, SEK1.3bn • Order backlog decreasing SEK -1,681m in Q4 due to strict projects selection (margin over volume) Order intake LTM and
Slide 8: ESG
ESG LTIFR (lost time injury frequency rate) LTM • 36% of all 8,800 vehicles are electric driven 20.0 • Change in CO2 emissions LTM from vehicles, -14% • The change in CO2e vehicles in relation to net sales in 2024 compared to 2020 was -36 percent 15.3 15.0 • Improved LTIFR on Group level, -11% 12.1
Slide 9: Acquisitions 2024
Acquisitions 2024 • 10 acquisitions completed in 2024, adding SEK 580m in annual sales • No acquisitions in Denmark due to our focus on improving profitability • No acquisitions in Norway due to the Finland Sweden extensive integration of Thunestvedt Group • Continue to see good acquisition opportun
Slide 10: Sweden Q4 2024
Sweden Q4 2024 9,497 8,141 SEKm Q4 2024 Q4 2023 YTD 2024 YTD 2023 Q4 2024 Net sales 3,854 4,024 14,118 14,414 Q4 2023 EBITA 368 453 954 1,106 4,779 EBITA-margin 9.6% 11.3% 6.8% 7.7% 3,854 4,024 Order intake 2,850 4,779 12,761 14,866 2,850 Order backlog 8,141 9,497 8,141 9,497 • Sales decreased -4% e
Slide 11: Norway Q4 2024
Norway Q4 2024 2,559 1,978 Q4 2024 1,661 1,694 SEKm Q4 2024 Q4 2023 YTD 2024 YTD 2023 1,558 Q4 2023 1,414 Net sales 1,661 1,694 6,198 5,932 EBITA 124 99 369 320 EBITA-margin 7.5% 5.9% 5.9% 5.4% Order intake 1,558 1,414 5,655 5,128 Order backlog 1,978 2,559 1,978 2,559 Net sales Order intake Order ba
Slide 12: Denmark Q4 2024
Denmark Q4 2024 3,938 3,635 Q4 2024 SEKm Q4 2024 Q4 2023 YTD 2024 YTD 2023 Q4 2023 Net sales 2,015 1,847 6,993 6,935 2,015 1,970 EBITA 81 2 92 198 1,847 1,578 EBITA-margin 4.0% 0.1% 1.3% 2.9% Order intake 1,578 1,970 7,165 7,346 Order backlog 3,938 3,635 3,938 3,635 Net sales Order intake Order back
Slide 13: Finland Q4 2024
Finland Q4 2024 1,308 Q4 2024 Q4 2023 SEKm Q4 2024 Q4 2023 YTD 2024 YTD 2023 872 Net sales 623 599 2,489 2,245 623 599 EBITA 40 37 111 87 438 EBITA-margin 6.4% 6.1% 4.5% 3.9% 388 Order intake 388 438 1,991 2,119 Order backlog 872 1,308 872 1,308 Net sales Order intake Order backlog • Growth in sales
Slide 14: Net debt and cash flow, SEKm
Net debt and cash flow, SEKm Operating cash flow, SEKm Key highlights 2,000 1,896 Continued good cash flow improvement, partially driven by our focus on NWC Cash conversion improved to 105% (73%) Financial position Q4 2024 1,500 1,435 1,417 Net debt remains low, providing capacity for Cash bal
Slide 15: Market outlook 2025
Market outlook 2025 1. Service activity continues to benefit from a positive growth environment 2. Challenges in installation continuing – variation between geographies but market is expected to recover in H2 2025 3. Favourable market conditions for projects in e.g., infrastructure, industry, defenc
Slide 16: Financial targets
Financial targets >7% >100% <2.5x Net debt/EBITDA EBITA margin Cash conversion Target leverage ratio >5% >50% of net profit Sales growth Target pay-out ratio 19
Slide 17: Summary Q4 2024
Summary Q4 2024 • Sales unchanged • Service sales +5% • Organic growth -4% • Growth from acquisitions +4% • As expected, EBITA-margin positively affected by improvement in Denmark and negatively affected by the soft market in the south part of Sweden • Items affecting comparability SEK 41m referring
Slide 18: Upcoming events
Upcoming events 29 April 2025 AGM 2025 6 May 2025 Interim Report Q1 2025 11 July 2025 Interim Report Q2 2025 24 October 2025 Interim Report Q3 2025 21
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