Slide 1: Q1 2025 Interim report Jan–Mar 2025
Q12025 Interim report Jan–Mar 2025 April 29, 2025
Slide 2: Presenters
Presenters CEO Krister Blomgren CFO Marcus Asplund Tel +46 70 529 92 65 Tel +46 72 601 37 17 E-mail: krister.blomgren@engcon.com E-mail: marcus.asplund@engcon.com Q1 2025 2
Slide 3: Q1 business highlights
Q1 business highlights • Strong order intake ahead of the Nordic digging season. • Increasingly positive outlook among end customers and relatively low inventory at dealers. • Increased order intake in Europe, driven by a growing awareness of the tiltrotator concept. • Large representation of tiltro
Slide 4: Q1 figures in brief
Q1 figures in brief 14% 28% 46% 19% 39% Organic net Organic order Gross EBIT Return on capital sales intake margin margin employed Q1 2025 4
Slide 5: Strong order intake driven by the Nordic region
Strong order intake driven by the Nordic region Order intake and net sales development per quarter, MSEK Key comments Order intake Net sales • Strong order intake ahead of the Nordic digging season. 691 • Order intake increased 28%, organic 28%, negative currency effect of 1 MSEK. 508 506 524 • Net
Slide 6: Nordics
Nordics Q1 2025, Order intake and net sales, MSEK Key comments Per quarter • Order intake increased organic 250 231 49%. 188 192 190 200 167 156 159 150 126 141 132 • Net sales increased organic 100 21%. 50 0 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 • More positive outlook among Strömsund Vasa Order intake Net
Slide 7: Europe
Europe Q1 2025, Order intake and net sales, MSEK Key comments Per quarter • Order intake increased organic 250 204 20%. 202 200 168 156 173 177 176 185 172 182 150 • Net sales increased organic 100 17%. 50 0 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 • Growth through increased Tewkesbury Order intake Net sales m
Slide 8: Americas
Americas Q1 2025, Order intake and net sales, MSEK Key comments Per quarter • Order intake increased organic 80 67 19%. 62 58 60 53 56 60 • Net sales decreased organic 46 42 41 37 40 20 14%. 0 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 • Increased order intake despite Order intake Net sales turbulent market situ
Slide 9: Asia-Oceania
Asia-Oceania Q1 2025, Order intake and net sales, MSEK Key comments Per quarter • Order intake decreased organic 50 43 10%. 40 40 37 35 35 37 30 31 27 24 27 • Net sales increased organic Chungcheongnam-do Tokyo 20 3%. 10 0 • Positive start for the Japanese Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 sales company
Slide 10: Market Penetration, %
PENETRATION RATE ON OUR FOCUS MARKETS 90% 93% 90% Market Penetration,% 33% Acceleration Tipping point, ~20-25% 9% 14% 2% 3% 8% 5% Time Q1 2025 10
Slide 11: Financial development Q1 2025
Se över grävmaskinsmärken! Financial development Q1 2025 11
Slide 12: EBIT Development
EBIT Development EBIT and EBIT margin per quarter Key comments EBIT, MSEK EBIT margin, % • EBIT increased 40% to 84 (60) 40% MSEK coming from higher net sales and volumes in production combined with a 198 favorable product- and market mix. • EBIT margin of 18.8% (15.2). 104 91 84 82 60 63 55 28.7 19
Slide 13: Overview of costs and EBIT
Overview of costs and EBIT 2025 2024 2025 2024 MSEK Q1 Q1 R12 FY Key comments Net sales 446 394 1,701 1,649 COGS -240 -228 -935 -923 • EBIT margin of 18.8% (15.2) Gross margin 46.1% 42.1% 45.0% 44.0% and 18.8% R12. Selling expenses -66 -64 -263 -262 • Gross margin of 46.1% % of net sales -14.8% -16.
Slide 14: Cash flow
Cash flow Cash flow and net working capital overview, MSEK Operating cash flow per quarter, MSEK 277 2025 2024 2024 FY MSEK Q1 Q1 Cash flow before changes in working capital 52 7 277 144 108 96 107 Inventories 405 329 339 Accounts receivables 282 256 227 5 -44 32 13 Other receivables 31 44 20 2023 2
Slide 15: ROCE level
ROCE level Return on capital employed overview Average capital employed and ROCE MSEK 2021 2022 2023 2024 R12 Average capital employed, MSEK ROCE, % EBT 341 415 365 295 300 1000 100 Interest expense 2 8 16 18 39 900 873 817 Capital employed, 773 80 800 750 beginning 699 735 765 781 850 717 of period
Slide 16: Financial targets
Financial targets Growth Profitability Capital efficiency Capital structure Exceed the growth in existing Have an EBIT margin in Continue to achieve an Maintain a strong capital market through organic excess of 20 per cent, industry-leading capital structure supporting further growth. measured over
Slide 17: Summary & Update
Summary & Update • Strong order intake trend continues in 2025. • Strong demand in the Nordics with increasing Ska bytas mot Bauma-bild! orderbook ahead of the digging season. • Continued strong momentum in Europe, where the penetration rate continues to increase. • Strong net sales development para
Slide 18: Looking ahead
Looking ahead "The future market outlook contains a high degree of unpredictability related in part to tariffs and their impact on the global economy. We anticipate continued positive net sales growth in the Nordic region ahead of the upcoming digging season and continued stable growth in Europe rel
Slide 19: Q&A
Q&A For more information visit www.engcongroup.com