Alimak Group Ab · OMXSTO:ALIG
Alimak Group Ab — Q4 2024 Earnings Presentation
25 slides from Alimak Group Ab's earnings presentation, Feb 13, 2025
Slide 1: Alimak Group
Alimak Group 13 February 2025 Ole Kristian Jødahl, CEO Sylvain Grange, CFO
Slide 2: Alimak Group – a diversified global industrial company
Alimak Group – a diversified global industrial company Highlights Drivers for success ▪ Leading provider of sustainable vertical access and working at height solutions Supported by global trends ▪ 3,000 employees, sales in +120 countries, presence in 28 countries Leading market position in ▪ Decentr
Slide 3: Accelerating profitable growth with New Heights 2.0
Accelerating profitable growth with New Heights 2.0 The New Heights programme New Heights 2.0 1 2 3 2020 2021 2022-2025 2026-2030 Establish the Secure margin Profitable Accelerating base improvements growth profitable growth Our mission: “Moving people, 2025 material and Updating division businesses
Slide 4: Financial and sustainability targets – outcome 2024
Financial and sustainability targets – outcome 2024 * 4 * As communicated in June 2023: The Group's target is to achieve an adjusted operating EBITA margin exceeding 18% within 2–3 years
Slide 5: A solid quarter with strong order intake, profit and cash flow
Business update – Q1 FOR INTERNAL USE ONLY A solid quarter with strong order intake, profit and cash flow Q4 ▪ Strong order intake and higher earnings ▪ A step up in profitability for the Facade Access division, EBITA margin of 15.7% ▪ Strong cash flow from operations, deleveraging Net debt/EBITA to
Slide 6: Delivering on the New Heights programme
Business update – Q1 FOR INTERNAL USE ONLY Delivering on the New Heights programme FY ▪ Revenue and order intake flat in a challenging market, but delivered 17.4% CAGR revenue growth since the launch of New Heights (2021-2024) ▪ Continued positive development in our divisions during 2024: – Facade A
Slide 7: Group quarterly summary
Group quarterly summary Q4 Order intake & revenue ▪ Order intake was MSEK 1,837, 8% (8% at constant MSEK MSEK currency) 2 400 8 000 7 000 ‒ Strong performance in Construction and Industrial, 2 100 1 800 6 000 5 000 while Facade Access, HSPS and Wind reported 1 500 1 200 4 000 lower order intake 900
Slide 8: Service order intake and revenue
Service order intake and revenue Q4 ▪ Service is a key component in all divisions Share of order intake Share of revenue ‒ Order intake increased by 11% (10% at constant currency) to 66% 62% MSEK 662 (599) 34% 38% ‒ Revenue increased by 8% (7% at constant currency) to Equipment Service Equipment Ser
Slide 9: Facade Access
Facade Access Q4 ▪ Order intake was MSEK 480, -6% (-7% at constant currency) Order intake & revenue ‒ Overall order intake on a reasonable level given a high ▪ MSEK MSEK Order intake was MSEK 512, +41 % (+24% from comparable 600 2 500 acquisitions. +18% organically) 500 2 000 ‒ North America BMU mar
Slide 10: Facade Access – business update
Facade Access – business update Q4 ▪ Organisational change ‒ Philippe Gastineau will be fully dedicated to the division as of 1 March ▪ Partnership signed with Skyline Robotics ‒ Recognized robotic leader for window cleaning and facade maintenance ‒ Actively promoting integrated BMU solution includi
Slide 11: Construction
Construction Q4 ▪ Order intake was MSEK 468, +47% (+46% at constant Order intake & revenue currency) MSEK MSEK 600 2 500 ‒ Solid new equipment orders in Middle East, North 500 2 000 America and the Nordics 400 1 500 300 ‒ Outstanding parts and service orders 1 000 200 100 500 ‒ Continued stable rent
Slide 12: Construction – business update
Construction – business update Q4 ▪ Continued progress with mast climbing work platforms – Orders from Middle East, Nordics, Brazil and South Africa reflecting results of geographical expansion – Orders consist of both fleet replacements and expansions in customer rental fleets, as well as new busin
Slide 13: Height Safety & Productivity Solutions
Height Safety & Productivity Solutions Q4 Order intake & revenue ▪ Order intake was MSEK 336, -6% (-6% at constant MSEK MSEK currency) 500 1 600 1 400 ‒ Soft distribution order intake across most 400 1 200 300 1 000 geographies 800 200 600 ‒ Elevator customers at a low point in their 100 400 200 inv
Slide 14: HSPS – business update
HSPS – business update Q4 ▪ Organisational change – José Maria Nevot, currently EVP of the Wind division, will take on the responsibility as EVP of the HSPS division from 1 March ▪ Success in developing Verticals – Tractel was selected as the confined space equipment provider for the largest water t
Slide 15: Industrial
Industrial Q4 ▪ Order intake was MSEK 436, +14% (+13% at constant Order intake & revenue currency) MSEK MSEK ‒ Strong growth in equipment, parts and services across 500 2 000 400 many customer segments 300 1 500 1 000 ‒ APAC and North America delivering the largest growth 200 500 100 ▪ Revenue was M
Slide 16: Industrial – business update
Industrial – business update Q4 ▪ Strong growth in multiple segments – Ports, infrastructure and oil & gas showing strongest growth in the quarter – Activity remains high within power and cement ▪ Complementing product portfolio with the launch of entry level lift SE240L for the US market – 240 kg p
Slide 17: Wind
Wind Q4 ▪ Order intake was MSEK 132, -7% (-7% at constant currency) Order intake & revenue ‒ New equipment orders were strong in APAC MSEK MSEK 250 800 ‒ Continued soft North American market, while Europe was 700 200 600 at a lower level due to a major OEM that experienced 150 500 project delays in
Slide 18: Wind – business update
Wind – business update Q4 ▪ Organisational change – Rafael Peña Guinaliu, currently COO in the Wind division, will take on the responsibility as EVP for the division as of 1 March ▪ Building on our technology leadership: new product launches – The successful launch of a rack and pinion lift and free
Slide 19: Profit & loss summary
Profit & loss summary Q4 MSEK Q4 2024 Q4 2023 FY 2024 FY 2023 Order intake 1 837 1 696 8% 6 947 7 027 -1% ▪ EBITA adj. Constant currency order growth 8% -1% – Growing by 11%, despite almost flat Revenue 1 817 1 838 -1% 7 099 7 097 0% revenue Constant currency revenue growth -2% 1% ▪ IAC Gross
Slide 20: Gross margin and operating expenses
Gross margin and operating expenses Q4 Gross margin ▪ To be added ▪ Gross margin was 39.5% (40.4) % 48 ‒ Continued margin improvement in the Facade Access 40 division 32 ‒ Industrial margin increase driven by higher revenue, 24 16 strong project management and execution 8 ‒ Construction margin decre
Slide 21: Result for the period and EPS
Result for the period and EPS Q4 ▪ Result for the period was MSEK 194 (121), +60% Result for the period and EPS ▪ Excluding IAC (Items Affecting Comparability), result MSEK SEK for the period was MSEK 200 (151), +32% 220 2,50 200 180 2,00 ▪ Earnings per share was SEK 1.83 (1.13) 160 140 1,50 120 ‒ A
Slide 22: Operating cash flow
Operating cash flow Q4 ▪ Cash flow from operations MSEK 506 (363) Operating cash flow, MSEK ‒ Strong performance from all divisions MSEK MSEK ‒ Cash focus will continue 550 1 400 500 1 200 450 400 1 000 350 300 800 250 600 200 150 400 100 200 50 0 0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2022 2023 2024 Cash flo
Slide 23: Net debt and return on capital employed
Net debt and return on capital employed Q4 Net debt and leverage ▪ Net debt down to BSEK 2.6 (3.0 in Q3 2024) ‒ Impact of operating cash-flows MSEK X 6 000 9 ▪ Net debt/EBITDA 1.79 (2.26) 5 000 7 ‒ Well in line with our financial target of being below 2.5x 4 000 5 3 000 ▪ Focus on operating cash flo
Slide 24: Summary Q4 & FY
Summary Q4 & FY ▪ Created a sustainable, resilient, highly profitable, growing industrial company ▪ Delivering on our financial and sustainability targets ‒ Strong cash flow generation and significant deleveraging ‒ New margin level despite challenging market conditions ▪ New Heights strategy contin
Slide 25: Q&A
Q&A