Slide 1: Bravida Q2 2023
Bravida Q2 2023 Mattias Johansson, CEO Åsa Neving, CFO 14 July 2023
Slide 2: Today's presenters
Today’s presenters Mattias Johansson Åsa Neving CEO and Group President since 2015* CFO since 2019 *With Bravida since 1998 2
Slide 3: Agenda
Agenda 1. Bravida and our position in the Nordic market 2. Q2 2023 3. Performance by country 4. Summary and Q&A
Slide 4: 1. Bravida and our position in the Nordic market
1. Bravida and our position in the Nordic market
Slide 5: About Bravida
About Bravida The leading Nordic provider of Local presence throughout Broad and stable customer base sustainable technical solutions the Nordics for buildings 28.8 bn Net sales LTM, SEK 13,700 employees Sustainable solutions throughout the lifecycle of a building 91% Recurring customers 325 85% bra
Slide 6: Robust and resilient cash flow generator
Robust and resilient cash flow generator Net sales LTM in SEKb and CAGR Stable profitability LTM EBITA in Cash conversion LTM % SEKm and CAGR 28,8 1,803 138% 1,697 128% 26,3 1,512 117% 109% +9% 21,9 +10% 1,351 105%103% 21,1 20,4 Ø 100 19,3 1,211 1,226 87% 17,3 1,086 83% 958 14,8 880 69% 14,2 760 60%
Slide 7: Nordic leader in sustainable technical solutions
Nordic leader in sustainable technical solutions • Leading Nordic provider of sustainable technical solutions for buildings Sustainable solutions throughout the • Every customer has access to our entire lifecycle of a building offering • Lifecycle perspective for every building • The industry leader
Slide 8: 2. Q2 2023
2. Q2 2023 ~+>bravida
Slide 9: Market outlook
Market outlook • Still an overall good demand for service and installation except for newbuild residentials • Bravida has a relative low exposure to newbuild residentials • Increasing price pressure due to lower demand in some segments and areas • Growing demand for sustainable and energy efficient
Slide 10: Q2 highlights
Q2 highlights Net sales +14% • 5% organic growth, growth in all countries • 6% growth from acquisitions Service Order backlog • Increased sales in both service and installation sales growth • Order intake improving in Norway, Denmark and +12% SEK 16,597m Finland, in total +14% • EBITA-margin 5.6 (5.
Slide 11: Group Q2 2023
Group Q2 2023 20,000 17,436 16,597 Q2 2023 Q2 2022 10,000 SEKm Q2 2023 Q2 2022 YTD 2023 YTD 2022 7,306 7,428 Net sales 7,306 6,434 14,734 12,260 6,434 6,534 EBITA 407 376 777 671 EBITA-margin 5.6% 5.9% 5.3% 5.5% Order intake 7,428 6,534 14,272 13,087 0 Net sales Order intake Order backlog Order back
Slide 12: Net sales performance in Q2, SEKm
Net sales performance in Q2, SEKm Sales growth +14% 7,306 150 Organic growth +5% 6,434 392 330 Growth in both service and installation business Organic growth in all countries, despite strong comparative figures for Norway and Denmark Growth from acquisitions +6% FX effects +2% Net sales Q
Slide 13: EBITA
EBITA EBITA, SEKm • EBITA-margin 5.6 (5.9)% 800,000 777 • Improved EBITA-margin in Sweden, unchanged in Norway but lower in Denmark and Finland 671 • EBITA-margin affected by high inflation and growth rate. We have not been able to pass on 600,000 all cost increases to customers in the quarter • EBI
Slide 14: Driving the business plan forward increases administrative expenses but will enable improved margin and growth
Driving the business plan forward increases administrative expenses but will enable improved margin and growth Increased recurring costs Initial costs for investments in new businesses ‒ Strengthening the IT platform ‒ Technical Facility Management ‒ Digital development capabilities ‒ Automation ‒ I
Slide 15: Order intake and backlog, SEKm
• Stable order backlog in Sweden and growing in Denmark and Finland • Order backlog decreased by -5% YoY, to SEK Order intake and backlog, SEKm 16,597m • Order intake increased by +14% YoY, growth in Norway, Denmark and Finland Order intake LTM and per quarter Order backlog 20,000 17,895 17,334 17,4
Slide 16: Sustainability
Sustainability LTIFR (lost time injury frequency rate) LTM • LTIFR on Group level, -2% 20,0 • Increasing LTIFR in Sweden and Denmark • Norway well below target, <5,5 16,1 15,0 • 600 electrical powered vehicles replaced fossil 12,9 powered vechicles YTD 11,4 11,6 • Change in CO2e emissions from vehic
Slide 17: Acquisitions 2023
Acquisitions 2023 • 10 acquisitions 2023 adding annual sales of SEK 345m 1 bolt-on SEK 23m • One acquisition signed in Q3, adding annual Finland Sweden sales of SEK 35m • Continued strong pipeline Norway • Acquisitions still at attractive multiples 3 bolt-ons SEK 90m SEK 4 bolt-ons Acquisitions 2023
Slide 18: 3. Performance by country
3. Performance by country 18
Slide 19: Sweden Q2 2023
Sweden Q2 2023 10,000 9,468 8,736 Q2 2023 Q2 2022 SEKm Q2 2023 Q2 2022 YTD 2023 YTD 2022 Net sales 3,690 3,307 7,314 6,296 5,000 3,690 3,528 EBITA 248 216 446 379 3,307 3,305 EBITA-margin 6.7% 6.5% 6.1% 6.0% Order intake 3,305 3,528 7,005 6,487 Order backlog 8,736 9,468 8,736 9,468 0 Net sales Order
Slide 20: Norway Q2 2023
Norway Q2 2023 4,500 3,806 3,000 2,820 Q2 2023 SEKm Q2 2023 Q2 2022 YTD 2023 YTD 2022 Q2 2022 Net sales 1,330 1,345 2,917 2,616 1,500 1,330 1,345 1,188 1,124 EBITA 75 76 152 136 EBITA-margin 5.7% 5.7% 5.2% 5.2% Order intake 1,188 1,124 2,464 2,727 0 Order backlog 2,820 3,806 2,820 3,806 Net sales Or
Slide 21: Denmark Q2 2023
Denmark Q2 2023 4,000 3,672 3,244 SEKm Q2 2023 Q2 2022 YTD 2023 YTD 2022 Q2 2023 Net sales 1,747 1,390 3,429 2,578 2,319 Q2 2022 EBITA 71 69 139 121 2,000 1,747 EBITA-margin 4.0% 5.0% 4.0% 4.7% 1,390 1,348 Order intake 2,319 1,348 3,661 3,009 Order backlog 3,672 3,244 3,672 3,244 0 Net sales order i
Slide 22: Finland Q2 2023
Finland Q2 2023 1,500 1,369 SEKm Q2 2023 Q2 2022 YTD 2023 YTD 2022 1,000 919 Q2 2023 Net sales 553 415 1,107 823 Q2 2022 EBITA 16 21 37 36 631 553 558 EBITA-margin 3.0% 5.0% 3.3% 4.3% 500 415 Order intake 631 558 1,175 918 Order backlog 1,369 919 1,369 919 0 Net sales Order intake Order backlog 40 •
Slide 23: Net debt and Cash Flow in SEKm
Net debt and Cash Flow in SEKm Operating Cash Flow 500 500 Key highlights Q2 2023 Financial position Q2 2023 404 400 400 Cash balances 879 SEK 2,500m sustainable linked (RCF) –Drawn facility SEK 200m Term loan, RCF, Commercial paper -2,239 –Maturity 2024-10-14 300 300 Commercial paper programme
Slide 24: Financial targets
Financial targets >7% >100% <2.5x Net debt/EBITDA EBITA margin Cash conversion Target leverage ratio >5% >50% of net profit Sales growth Target pay-out ratio 24
Slide 25: 5. Summary
5. Summary
Slide 26: Summary Q2 2023
Summary Q2 2023 • Sales increased in all countries, +14% • Organic growth +5% • Organic growth in all countries • Growth from acquisitions +6% • EBITA-margin affected by high inflation and growth rate. We have not been able to pass on all cost increases to customers in the quarter • EBITA-margin aff
Slide 27: Q&A
2023-07-14 Q&A ~+>bravida
Slide 28: Upcoming events
Upcoming events Day Event 25 October 2023 Interim Report Q3 2023 15 February 2024 Interim Report Q4 2023 28
Slide 29: We bring buildings to life.
We bring buildings to life. <>bravida