Carel Industries Spa · MIL:CRL
Carel Industries Spa — Merger or Acquisition (July 2023)
11 slides from Carel Industries Spa's merger presentation, Jul 25, 2023
Slide 1: A key milestone in CAREL's growth story: the acquisition of Kiona
A KEY MILESTONE IN CAREL’S GROWTH STORY: THE ACQUISITION OF KIONA 25 July 2023 This document and all of its contents are property of CAREL. All unauthorised use, reproduction or distribution of this document or the information contained in it, by anyone other than CAREL, is severely forbidden.
Slide 2: Key transaction highlights
Key transaction highlights • CAREL Industries S.p.A. (“CAREL”) has signed an agreement to acquire a c. 82.4% stake in Kiona Holding AS (“Kiona” or the “Company”) (the “Transaction”), for a consideration implying a 100% Enterprise Value of NOK 2.35 bn (c. €210m1) Transaction terms and structure • The
Slide 3: A key milestone to accelerate growth in digitalization and servitization of HVAC-R
A key milestone to accelerate growth while addressing the increasing digitalization and shift towards servitization of the HVAC-R industry Enhance leadership towards innovative sustainable solutions with critical impact on energy management Complement and strengthen the digital value proposition wit
Slide 4: Kiona: a leading rule-of-40 European SaaS provider of prop-tech solutions
Kiona: a leading rule-of-40 European SaaS provider of prop-tech solutions for energy consumption optimization and building digitalization Business overview Unique coverage of the Nordics Pioneering SaaS provider of prop-tech solutions for energy usage Trondheim (HQ) control and optimization with >75
Slide 5: A platform to integrate all systems, both old and new
A platform to integrate all systems, both old and new Wide range of applications across three key segments Multi-residential housing Retail and industrial refrigeration Public and commercial buildings Focus on multi-family buildings Commercial refrigeration, Ho.Re.Ca. Commercial buildings with sever
Slide 6: Attractive expected financial performance with accelerating growth and margin expansion
Attractive expected financial performance with accelerating growth and margin expansion Revenues (NOKm) EBITDA (NOKm) and margin (%) Attractive growth prospects Tangible margin expansion Topline growth Further margin acceleration expansion 20-25% ~285 15% 219 14% 201 >75% ARR1 34 27 2021A 2 2022A 20
Slide 7: Unlocking untapped synergies potential from multiple angles: examples
Unlocking untapped synergies potential from multiple angles: examples Kiona’s and CAREL’s combined competences and development capabilities create an important firepower in software and digital services fields Accelerate Kiona geographical expansion outside of the Nordics leveraging on CAREL global
Slide 8: CAREL to retain a flexible capital structure
CAREL to retain a flexible capital structure The Board of Directors (scheduled for August 3rd), with a view to retaining a flexible capital structure to enable CAREL to continue pursuing future growth opportunities, will submit for approval to the general meeting of CAREL’s shareholders a proposal f
Slide 9: Key takeaways
Key takeaways Acquisition of a leading fast growing and profitable rule-of-40 European SaaS provider of prop-tech solutions Seamless and synergic combination of Kiona solutions offering with CAREL value proposition Integration of value-accretive human capital with extensive software and digital serv
Slide 10: Q&A
Q&A 10 This document and all of its contents are property of CAREL. All unauthorised use, reproduction or distribution of this document or the information contained in it, by anyone other than CAREL, is severely forbidden.
Slide 11: This document and all of its contents are property of CAREL. All unauthorised use,
11 This document and all of its contents are property of CAREL. All unauthorised use, reproduction or distribution of this document or the information contained in it, by anyone other than CAREL, is severely forbidden.