Slide 1: January–September 2023
January–September 2023 Good profitability driven by improved efficiency CHRISTOPHE SUT, CEO KAI VALO, CFO 27 OCTOBER 2023
Slide 2: Suzhou factory automation and Atlanta factory SMT line
Suzhou factory automation and Atlanta factory SMT and assembly Vaisala sustainability award digitalization line 27-Oct-23 2
Slide 3: Q3 2023 highlights
• The turnover growth excluding spot-market purchases was Q3 2023 9% • The third quarter turnover was EUR 212.8 million compared 209.7 M€ / 9% to EUR 211.9 million last year Turnover ex. spot / YoY, % • Profitability was driven by the continuation of good customer 212.8 M€ / 0.4% demand and the easi
Slide 4: Turnover, personnel and factories
TURNOVER PERSONNEL FACTORIES 3% Sweden 2 17 % 23 % 7% Finland 1 9% Estonia 1 38 % TTM 903 MEUR 12 % ~3,700 33 % 21 % 16 % 15 % 6% Advanced Consumer Applications Poland China Estonia Poland 2 China 1 Automation & Safety Sweden Finland Germany USA 1 Connectivity The USA Energy & Cleantech Germany 1 Me
Slide 5: Turnover Q3/2020-Q3/2023
MEUR 250 200 150 100 ti) Turnover Q3/2020-Q3/2023 = Turnover ex. Spot market purchases Spot market purchases 14,6 14,4 17 11,7 29.5 19,6 141,6 154,1 163,3 172,9 167,8 191,7 196,6 212,9 211,9 222,3 224,6 243,3 212,8 —— — — — — — — — — — — — — Q3 20 Q4 20 Q121 Q2 21 Q3 21 Q421 Q1 22 Q2 22 Q3 22 Q4 22
Slide 6: Adjusted operating profit
MEUR 17,5 15 15,1 15,2 13,4 11,5 10 10,4 10,6 10,0 10,2 10,3 10,1 9,9 9,5 7,0% 7,2% 7,2% 6,8% 6,7% 6,1% 6,1% 6,0% 5,7% 5,4% 5 5,3% 5,3% 4,8% 0 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Adjusted operating profit, MEUR Operating profit, adj., % 6
Slide 7: Normalized is turnover excluding spot market purchases
Normalized is turnover excluding spot market purchases.
Slide 8: Markets and customers
MARKETS AND CUSTOMERS Advanced Consumer Automation & Safety Connectivity Energy & Cleantech Medtech & Applications Life Science • Urbanization • Industrial automation • Digitalization • Energy efficiency • Ageing population • Growing middle class • Robotics • Increasing significance & renewable ener
Slide 9: Markets and customers: Energy & Cleantech
MARKETS AND CUSTOMERS Recycling Energy saving Electrification Renewable energy Energy storage • Circular economy • “The greenest energy is • Moving away from fossil • Increasing demand for • Enabler of the • 1.4 trillion beverage the energy we don’t use” fuels by using electricity renewable energy d
Slide 10: Customer concentration
100% 13% 90% 19% 80% 70% 36% 44% 60% 50% 40% 30% 20% 45% 43% 10% SMT line in Pärnu, Estonia. 0% 2022 Q3/2023 Rest TOP10 (ex. Biggest) The biggest customer 27-Oct-23 10
Slide 11: Factory investments
Factory m² More information 2022 New space for electronics manufacturing and system Atlanta, USA 6,000 integration Wutha, 1,800 New space and infrastructure Germany Malmö, Sweden 1,500 New space for system integration and warehouse automation Space transformed into production space, warehouse Suzhou
Slide 12: Financials
Financials CFO Kai Valo SCANFIL
Slide 13: Turnover Q3/2020-Q3/2023
Turnover Q3/2020-Q3/2023 MEUR = Turnover ex. Spot market purchases Spot market purchases 250 14,6 200 29,5 19,6 14,4 47 11,7 150 100 50 141,6 154,1 163,3 172,9 167,8 191,7 196,6 212,9 211,9 222,3 224,6 243,3 212,8 —t — — — — — — — — — — — — Q3 20 Q420 Q121 Q2 21 Q3 21 Q421 Q1 22 Q2 22 Q3 22 Q4 22 Q1
Slide 14: Adjusted operating profit
MEUR 17,5 15 15,1 15,2 13,4 11,5 10 10,4 10,6 10,0 10,2 10,3 10,1 9,9 9,5 7,0% 7,2% 7,2% 6,8% 6,7% 6,1% 6,1% 6,0% 5,7% 5,4% 5 5,3% 5,3% 4,8% 0 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Adjusted operating profit, MEUR Operating profit, adj., % 14
Slide 15: Q3 operating profit with spot buys
2022 spot buys EUR 19,6 million 2023 spot buys EUR 3,1 million 15,2 +3,7 +0,4% +32,2% 5,4% 7,2% 27-Oct-23 15
Slide 16: Q3 excluding spot buys
EUR +19,5 million / 10,0% 2022 spot buys EUR 19,6 million excluded 2023 spot buys EUR 3,1 million excluded +9,0% +8,8% 15,2 15,2 15,2 +3,7 +32,2% EUR +15,9 million / +8,8% 27-Oct-23 16
Slide 17: January–September with spot buys
2022 spot buys EUR 66,1 million 2023 spot buys EUR 16,2 million +9,5% +9,0% 47,9 15,2 +15,9 +49,6% 47,9 5,1% 7,0% 27-Oct-23 17
Slide 18: January–September excluding spot buys
EUR +113,0 million / 20,4% 2022 spot buys EUR 66,1 million excluded 2023 spot buys EUR 16,2 million excluded +18,7% +19,7% 15,2 47,9 47,9 +15,9 16,3 +49,6% EUR +97,2 million / +18,6% 27-Oct-23 18
Slide 19: Balance sheet
MEUR • Cash and cash equivalents totaled EUR 13,6 (19.9) million 225,3 • Equity ratio 47,8% (42,5%) and net 247,6 Inventories gearing 32,6% (44,2%) Equity • Inventories EUR 225.3 (229,3) million, Goodwill 9,3 7,5 Interest bearing debt 13,6 lower by -4,0 million. Other intangible assets 94,3 Trade an
Slide 20: Cash flow YTD
Cash flow YTD - positive change in net working capital 70 60 50 28,1 40 ay 30 20 16,3 10 Net Profit Adjustment Change of Interest Taxes Investments Free Cash Flow for the Working Capital paid Paid Cash Flow SCANFIL net profit net arostze 20
Slide 21: Key figures
Q3 2023 Q3 2022 Change 1-9 2023 1-9 2022 Change 2022 Turnover, EUR million 212.8 211.9 0.4% 680.7 621.4 9.5% 843.8 Operating Profit, EUR million 15.2 11.5 32.2% 47.9 32.0 49.6% 45.4 Operating Profit, % 7.2 5.4 1.8pp 7.0 5.1 1.9pp 5.4 Net Profit, EUR million 11.0 9.4 17.1% 37.3 24.6 51.9% 35.0 Earnin
Slide 22: Key takeaways and outlook
Key takeaways and outlook SCANFIL
Slide 23: Key takeaways
Key takeaways • Good profitability driven by operational efficiency • Operating margin for the first nine months was 7.0% and Q3 7.2% • Supply chain issues have faded • We see good growth opportunities long term especially in Energy & Cleantech and Medtech & Life Science • Cash flow from operations
Slide 24: Revised outlook and focus areas
Scanfil revised its outlook 10 October 2023. In revised outlook we expect our turnover to be EUR 880–920 (previously issued 10 July: 900–950) million and adjusted operating profit to be EUR 60–66 (61–68) million. Focus areas: • Driving organic growth through increased penetration of fast growing cus
Slide 25: Q&A
SCANFIL Q&A
Slide 26: Contact information and analysts
Inderes Oy Antti Viljakainen +358 44 591 2216 antti.viljakainen(at)inderes.fi Evli Pankki Oyj Joonas Ilvonen Contact information +358 44 430 9071 joonas.ilvonen(at)evli.com and analysts Nordea Oyj Pasi Väisänen CHRISTOPHE SUT, CEO +358 9 5300 5192 +46 721 51 75 02 pasi.vaisanen(at)nordea.com christo
Slide 27: Disclaimer
Disclaimer Not to be published or distributed, directly or indirectly, in any country where its distribution or publication is unlawful. Forward looking statements: certain statements in this presentation may constitute "forward-looking" statements which involve known and unknown risks, uncertaintie
Slide 28: Global contract manufacturer and systems supplier
Global contract manufacturer and systems supplier