Cavotec Group Ab · OMXSTO:CCC
Cavotec Group Ab — Q3 2022 Earnings Presentation
16 slides from Cavotec Group Ab's earnings presentation, Oct 3, 2022
Slide 1: Cavotec, Q3 Presentation 2022
Cavotec, Q3 Presentation 2022 ©2021 | 03 October 2023 Slide 1
Slide 2: Table of contents
Table of contents • Financial highlights • Operational highlights • Financial update • Summary and way forward • Q&A ©2021 | 03 October 2023 Slide 2
Slide 3: Financial highlights
Financial highlights ©2021 | 03 October 2023 Slide 3
Slide 4: New Cavotec - Financial Highlights, Q3 2022
New Cavotec - Financial Highlights, Q3 2022 +65% +43.5% Neg Neg EUR 153.9 million EUR 42.0 million EUR -0.4 million EUR -4.7 million Order backlog Revenues EBIT Cash flow* * Net cash inflow / (outflow) from operating activities from continued operations ©2021 | 03 October 2023 Slide 4
Slide 5: Operational highlights
Operational highlights ©2021 | 03 October 2023 Slide 5
Slide 6: New Cavotec - Q3 Operational Highlights
New Cavotec - Q3 Operational Highlights Strong revenue development • Capacity ramp up in Shanghai • Reduction in delayed order backlog Profitability in New Cavotec unsatisfactory • Investments in our organisation for growth not yet in sync with revenues • Existing orders with low margins had a negat
Slide 7: New Cavotec - Q3 Operational Highlights, continued
New Cavotec - Q3 Operational Highlights, continued Continued high interest in our electrification and automated mooring solutions • Ports & Maritime: • within new build vessels, retrofit on ships and in ports and terminals, they all strive towards increased sustainability and decarbonization. • we w
Slide 8: Financial update
Financial update ©2021 | 03 October 2023 Slide 8
Slide 9: Order Backlog - stable development
New Cavotec Order Backlog - stable development Order backlog stable in third quarter, EUR 153.9 million • Order intake offset by higher deliveries • More focus on margin in new deals Strong increase compared to same period last year • Ports & Maritime: all regions showed growth in order backlog comp
Slide 10: Revenue - delivery from order backlog growing
New Cavotec Revenue - delivery from order backlog growing Revenue growth in Q3 after a long period of flat revenue development • Includes delivery of EUR 7 million from the EUR 10 million in revenues that were reported as delayed in the second quarter, mainly due to the Covid related closure of Shan
Slide 11: Operating Result – unsatisfactory profitability
New Cavotec Operating Result – unsatisfactory profitability Third Quarter operating result EUR -0.4M (0.2) • One-off of EUR 1.0 million arising from the departure of the prior CEO (~2% of quarterly revenue) • Impact of orders with lower margins, material costs and supply chain impacts (~4% of quarte
Slide 12: Operating Cashflow – negative in Q3
New Cavotec Operating Cashflow – negative in Q3 Operating cash flow EUR -4.7M (1.2) • Receivables increased EUR 5 million, due to the strong increase of revenue • Inventory levels stabilized during the quarter, up 0.8M ©2021 | 03 October 2023 Slide 12
Slide 13: Cavotec - others
Cavotec - others Divestment of the Airports completed • Strategically important • Took more time to complete than anticipated; higher transaction costs and additional impairment • The group results for the quarter include a loss from discontinued operations of EUR 5.1 million Amendment in lending ar
Slide 14: Summary and way forward
Summary and way forward ©2021 | 03 October 2023 Slide 14
Slide 15: Summary and way forward
Summary and way forward • Strong revenue growth and demand for Cavotec’s sustainable solutions • Weak profitability, partly explained by one-offs but also by low margins in existing orders, increased transportation costs, supply chain constraints, and size of organisation not in sync with revenue. •
Slide 16: Q&A
Q&A ©2021 | 03 October 2023 Slide 16