Green Landscaping Group Ab · OMXSTO:GREEN
Green Landscaping Group Ab — Q3 2023 Earnings Presentation
19 slides from Green Landscaping Group Ab's earnings presentation, Nov 16, 2023
Slide 1: Q3 Report July - September 2023
Q3 Report July - September 2023 16 November 2023 Page 1
Slide 2: Green Landscaping Group - a home for entrepreneurs
Green Landscaping Group - a home for entrepreneurs Market entry A leading company in the landscaping service Founded 2010 industry 2020 2021 5 The leading consolidator in Europe 2022 13 2023 Business model based on trust and local 29 accountability to promote agility Focus on strong local pr
Slide 3: Summary Q3 2023
Summary Q3 2023 Net sales increased by 22% to SEK 1,430 (1,176) million Organic growth of 0% in Q3, and 5% YTD Acquisitions contributed by +23% in Q3, and 32% YTD EBITA increased by 45% and amounted to SEK 128 million (89) EBITA-margin of 9.0% (7.6) in the quarter Positive mix effect fro
Slide 4: Strong growth in the quarter, and over time
Strong growth in the quarter, and over time Strong growth in the quarter Strong growth, rolling twelve months Net sales Q3 22% Net sales 41% Organic growth 0% Organic growth 7% Acquired growth 23% Acquired growth 34% Page 4
Slide 5: Order backlog stable at SEK 8.0 billion
Order backlog stable at SEK 8.0 billion Growth of 14% compared with Q3 2022 Increase attributable to acquisitions and new contracts. Majority of order book consists of contracts with public sector customers Page 5
Slide 6: Steady increase of EBITA and EBITA-margin
Steady increase of EBITA and EBITA-margin Strong growth in the quarter, +45% Steady growth over time Existing businesses contributed with -10% (rolling twelve months) EBITA growing consistently Acquired companies contributed with 58% EBITA margin at 8.9% Changed exchange contributed with -
Slide 7: Sweden
Sweden 43% Share of net sales 16% Share of EBITA Net sales SEK 610 (639) million, -5%, 6% YTD Organic growth contributed -7%, 2% YTD Acquisitions contributed 2%, 4% YTD Good demand for ground maintenance Delayed landscaping project starts EBITA SEK 21 (29) million, -28% EBITA-margin 3.4% (
Slide 8: Norway
Norway 42% Share of net sales 42% Share of EBITA Net sales SEK 598 (479) million, +25%, 50% YTD Organic growth contributed 6%, 10% YTD Acquisitions contributed 24%, 44% YTD Changed exchanged rates -5%, -4% YTD Strong growth, organically and through acquisitions. EBITA SEK 57 (59) million,
Slide 9: Finland and rest of Europe
Finland and rest of Europe 15% Share of net sales 42% Share of EBITA Net sales SEK 222 (58) million, +283%, 240% YTD Organic growth contributed 29%, 14% YTD Acquisitions contributed 244%, 231% YTD Changed exchanged rates 10%, 9% YTD Significant project deliveries by the Finnish companies. St
Slide 10: Acquired company in October 2023
Acquired company in October 2023 Rainer Gartengestaltung & Landschaftsbau GmbH Founded in 2005 Operates around Ulm and Stuttgart Offers services in ground maintenance and landscaping for outdoor environments Annual sales of EUR 3 million 24 employees Page 10
Slide 11: Financials
Financials Page 11
Slide 12: Strong development - Key financials Q3 2023
Strong development Key financials Q3 2023 Net sales increased significantly EBITA increased significantly Q3 Q3 Rolling 12 SEK million 2023 2022 months EBITA-margin increased by 1.4 percentage point NET SALES 1,430 1,176 5,799 Seasonally weak cash flow generation EBITA 128 89 519 Solid ord
Slide 13: Cash flow
Cash flow Seasonally weaker cash flow from operating activities, amounting to SEK -2 (53) million EBITA contributed significantly, more than offset by increased working capital, partly due to a calendar effect Cash and cash equivalents at the end of the period amounted to SEK 548 (370) million
Slide 14: Cash Flow Bridge
Cash Flow Bridge ‘SEK million EBITA 128* =i 7 —— -99 EBT Amortization Net of depreciation, Change in NWC Cash Flow from Acquisitions Capex & Other New Loans Debt repayment Cash-Flow for interest and tax Operating Investing Activities & other items: the Period Activitites +) Due to rounding, some of
Slide 15: Financial leverage
Financial leverage Financial leverage amounted to 2.5X (2.7X) Level in line with financial target Steady state means deleveraging through cash flow from operating activities Page 15
Slide 16: Loan maturity profile
Loan maturity profile Loan facility maturity extended after the close of the quarter, moved from 2025 to 2026 Total maturities amounting to about SEK 2,000 million No maturities until 2026 Only covenant being Net debt / EBITDA pro forma. Current level of 2.5 leaves plenty of headroom Page 16
Slide 17: Financial targets
Financial targets Growth EBITA margin Leverage (ND/EBITDA) Dividend (% of NI) 10% 8% 2.5x 40% Approximately 40% of profit for the year shall be distributed as dividends to shareholders. The Sales shall, on average, Net debt in relation to EBITDA EBITA margin shall, on average, dividend proposal shal
Slide 18: Summary Q3 2023
Summary Q3 2023 Net sales increased by 22% to SEK 1,430 (1,176) million Organic growth of 0% in Q3, and 5% YTD Acquisitions contributed by +23% in Q3, and 32% YTD EBITA increased by 45% and amounted to SEK 128 million (89) EBITA-margin of 9.0% (7.6) in the quarter Positive mix effect fro
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