Systemair Ab · OMXSTO:SYSR
Systemair Ab — Q1 2024 Earnings Presentation
17 slides from Systemair Ab's earnings presentation, Aug 29, 2024
Slide 1: Q1 report
2024 Q1 report Webcast August 29th Roland Kasper, CEO Anders Ulff, CFO 1
Slide 2: Agenda
01 Systemair in brief 02 First quarter summary 03 Q1 Financials 04 First quarter acquisitions and project highlights 05 Q&A 2
Slide 3: Systemair in brief
Systemair in brief 1974 51 Number of Operating from the core values of simplicity Established at HQ countries with and reliability, our business concept is to in Skinnskatteberg, own sales develop, manufacture and market energy- Sweden companies efficient, high-quality ventilation products. 1,100 19
Slide 4: Product launches, Q1 sales 2024/2025, strategic update
Product launches We succesfully launched new Q1 Sales 2024/2025 Geniox AHU versions side-by- side and our updated integrated -fully reversible- heat pumps → Organic growth of Sales in Q1 with our next generation of were closely in line with the Access Control System in Europe previous year. We see t
Slide 5: Markets
Markets 15% 14% 13% We have a global and diversified customer base. This provides us with a solid foundation for profitable growth 13% 45% and high resilience. 14 % 45 % 13 % 13 % 15 % Nordic region Western Europe Eastern Europe North America Other markets (14) (46) & the CIS (13) (13) (14) 5 System
Slide 6: Net sales
Net sales 3175 3111 25,0 -0.3 % 20,0 Organic 15,0 Growth 10,0 2849 5,0 0,0 Q1 20/21 Q1 21/22 Q1 22/23 Q1 23/24 Q1 24/25 -5,0 -10,0 -2.0 % Growth Q1 Q1 Q1 Organic quarterly growth 2022/2023 2023/2024 2024/2025 Organic growth R12 6 Systemair Q1 | 2024/25
Slide 7: Growth analyze Q1
Total growth -2.0% Growth analyze Q1 Organic Organic growth in Eastern Europe, North America and in Middle East, Asia and Africa. Acquisitions Small effect from the acquisition of Phem Engineering in Malaysia. -0.3% +0.5% -2.2% Currency Strengthened SEK against EUR, USD and CAD. 7 Systemair Q1 | 202
Slide 8: Geographic breakdown Q1
Geographic breakdown Q1 Nordic region 2024/25 Change in of which All major markets reported reduced sales May – Jul sales Organic during the quarter. 3 mths Western Europe Nordic region 422.6 -4.7% -4.1% The NL, UK and DE showed negative growth during the quarter, while turnover in IT, ES Western Eu
Slide 9: Operating profit Q1
Operating profit Q1 335 The gross margin amounted to 36.0 percent 305 (34.6). 270 The operating profit for the first quarter amounted to SEK 305.2 million (334.9), which is a 210 decrease of 8.9 percent compared to the corresponding period last year. The operating margin amounted to 9.8 percent (10
Slide 10: Profit after tax Q1
Profit after tax Q1 242 Net financial items for the first quarter 217 210 amounted to SEK –16.8 million (-18.0). Currency effects on long term receivables, 157 loans and bank balances amounted to a net of SEK -0.4 million (+2.6). Interest expenses for the quarter amounted to SEK -15.6 million (-20.9
Slide 11: Cash flow analysis Q1
Cash flow analysis Q1 Q1 2024/23 Q1 2022/24 Cash flow from 379.3 388.6 operating activities Change in working capital -190.9 -81.9 Net investments, excl -97.1 -129.3 acqusitions Free cash flow 91.3 177.4 Net debt 1,056.3 1,433.0 Changes in working capital mainly due to increased trade receivables +8
Slide 12: Acquisitions, events and order highlights
Acquisitions, events and order highlights 12 Systemair Q1 | 2024/25
Slide 13: Acquisition of PHEM Engineering in Malaysia
Acquisition of PHEM Engineering in Malaysia In May Systemair closed the acquisition of the air handling unit manufacturer PHEM Engineering SDN. BHD. in Malaysia. PHEM Engineering is a manufacturer of air handling units and fans for commercial applications with sales in South-East Asia and Australia.
Slide 14: Systemair has discontinued Menerga's production in Germany
Systemair has discontinued Menerga’s production in Germany Systemair relocated Menerga’s production in Muelheim an der Ruhr, Germany to Maribor in Slovenia during the quarter. The reorganisation is expected to generate annual cost savings of at least SEK 70 million with full effect from the financia
Slide 15: Retrofit project for leading manufacturer chip machines
Retrofit project for leading manufacturer chip machines During the quarter Systemair has converted several big size HHflex air handling units (35,000 m3/h each) from steam humidification to adiabatic humidification including: new panels and doors and controls replacing existing fans to plug fans mou
Slide 16: Systemair products in the new Mediterranean Center for Medical Research in Sicily
Systemair products in the new Mediterranean Center for Medical Research in Sicily Systemair supplied dedicated ventilation products to a value of 1million euro for the project Ri.MED BRBC Biomedical Research Center in Carini, Palermo, Sicily. The Ri.MED center will be dedicated to the research and d
Slide 17: Q&A
Q&A 17