Slide 1: Q2 Interim Report Apr-Jun 2024
Q2 Interim Report Apr-Jun 2024 Andreas Stenbäck, CEO Martin Aronsson, CFO 15 Juli 2024 Volati Interim report April - June 2024
Slide 2: Volati is a growing group of well-managed companies with strong earnings
Volati is a growing group of well-managed companies with strong earnings Home markets Subsidiaries +16% +19% Volati EBITA EBITA CAGR growth LTM since 2018 Net sales, LTM Q2 2024 SEK 7,597 m EBITA, LTM Q2 2024 SEK 659 m +10% +27% +23% EBITA CAGR ~36% EBITA CAGR ~23% EBITA CAGR Industry ~41% since 201
Slide 3: Q2 in brief – Sales and EBITA in line with last year
Q2 in brief – Sales and EBITA in line with last year • Group EBITA landed at SEK 244 million and margin at 11% which is in line with last year. • Still facing challenging construction market as well as a slow 5G-rollout. Some positive signs on the horizon. • Contribution from acquisitions as well as
Slide 4: Financial development, Q2 2024
Financial development, Q2 2024 Net sales EBITA Operating cash flow Net debt/adjusted EBITDA SEK 2,195 m SEK 244 m SEK 209 m 2,7 x (Q2 2023: 2,251) (Q2 2023: 249) (Q2 2023: 166) (Q2 2023: 2,1x) Net sales, SEK m EBITA, SEK m 2 250 250 2 000 1 750 200 1 500 150 1 250 1 000 100 750 500 50 250 0 0 Q1 Q2
Slide 5: Financial development, LTM Q2 2024
Financial development, LTM Q2 2024 CAGR +19% Net sales 750 733 25 710 SEK 7,597 m 700 650 664 665 659 (Q2 2023: 8,047) 600 20 550 500 EBITA 450 15 421 659 400 SEK m 350 312 300 10 (Q2 2023: 789) 257 10,5% 250 9,4% 9,2% 8,6% 8,7% 8,7% 200 7,6% 7,5% Operating cash flow 150 5 771 100 SEK m 50 0 0 (Q2 2
Slide 6: Financial targets
Financial targets EBITA growth Return on adjusted equity Capital structure The target is an average annual growth in The long-term target is a return on The target is a net debt/adjusted EBITDA2) EBITA2) per ordinary share of at least 15 adjusted equity1) of 20 percent2). ratio of 2 to 3 times, and
Slide 7: Three business areas with growth focus
Three business areas with growth focus Industry Products and materials for Self-adhesive labels and Four businesses with leading builder’s hardware, machines for various market positions in their niches; consumables, construction, home applications; from decorative Products and solutions for grain &
Slide 8: Salix Group
Salix Group EBITA • Sales increase of 6% in the quarter and -3% LTM. CAGR +10% • The demand in the industrial and professional segments continue to 4 000 11 be challenged 10.1% 3 598 3 575 3 508 10 • EBITA margin improvement in the quarter compared to last year 3 500 9.9% 3 262 3 466 3 402 3 357 3 4
Slide 9: Ettiketto Group
Ettiketto Group EBITA • Organic sales increase of 7% in the quarter CAGR +27% • EBITA growth of 30% in the quarter. The margin continued to 884 883 900 879 877 870 25 increase with 4pp this quarter compared to Q2 2023, and is now at 859 856 20 percent during the last 12 months 800 20.6% 19.9% 19.9%
Slide 10: Industry
Industry EBITA • Sales decrease of -12% and -9% LTM CAGR +23% • EBITA decrease of -19% in the quarter 4 000 25 • Positive contribution from a strong quarter by Corroventa 3 663 3 582 3 524 3 541 3 445 • S:t Eriks is challenged by the construction segment but sees a stable 3 500 3 280 3 318 demand fr
Slide 11: 24 acquisitions and 3,5 billion of annual sales since 2020
24 acquisitions and 3,5 billion of annual sales since 2020 Sales, MSEK EBITA1 EBITA1 EBITA1 Industry ~41% ~36% ~23% Heco SALES Beneli SALES January 2020 180 June 2020 160 Pisla SALES Märkas SALES September 2020 240 September 2020 170 Duschy SALES Strongpoint SALES March 2021 100 June 2021 190 Corrov
Slide 12: Add-on acquisitions are an important value driver for Volati and our platforms
Add-on acquisitions are an important value driver for Volati and our platforms 1 170 1 125 1 086 1 021 1 017 867 8 8 8 823 • M&A have over time contributed with annual 770 749 782 742 7 7 753 sales of SEK 700–1,200 million 686 6 6 632 • Annual pace of 6-8 acquisitions 5 5 5 5 5 • Majority of the acq
Slide 13: Well positioned for further acquired growth
Well positioned for further acquired growth Net debt, SEK m 2 183 2 223 1 988 1 888 1 907 1 760 1 812 1 713 • Operational cash flow of SEK 209 million in Q2 2024 1 632 compared to SEK 166 million same period last year 1 344 1 049 1 024 844 • LTM Q2 2024 Cash flow of 771 million • Total cash generati
Slide 14: Summary
Summary • Q2 in line with last year. Successfully balance short term profitability and long-term value creation • Challenging market conditions continue to affect Salix Group, S:t Eriks and Communications • Well positioned for accelerated organic growth once market return • Solid foundation for cont
Slide 15: volatl.
volatl.