Consti Oyj · OMXHEX:CONSTI
Consti Oyj — FY2021 Earnings Presentation
26 slides from Consti Oyj's earnings presentation, Feb 4, 2022
Slide 1: Consti Plc Financial Statements 1 January – 31 December 2021
CONSTI PLC FINANCIAL STATEMENTS 1 JANUARY – 31 DECEMBER 2021 CEO Esa Korkeela CFO Joni Sorsanen
Slide 2: Contents
CONTENTS 1. Highlights and Group performance 2. Cash flow and financial position 3. Market outlook, guidance and summary 4. Appendix 1 4 February 2022 Consti Plc / Financial statements 1-12/2021
Slide 3: Highlights of FY 2021 and Q4/2021
Highlights of FY 2021 and Q4/2021 Solid performance continued NET SALES: ADJUSTED EBIT: FREE CASH FLOW: EUR 288.8m EUR EUR 9.5m EUR EUR 5.5m EUR FY 2021 +4.5m FY 2021 -0.5m FY 2021 +2.5m EUR +14.1m Q4/2021 EUR +0.1m Q4/2021 EUR -12.9m Q4/2021 EUR 82.6m EUR 3.0m EUR 6.1m EUR EUR No. +0.05 +40.7m +34
Slide 4: Consti Group's net sales overview 2018-21
Consti Group’s net sales overview 2018-21 Business area split almost intact year-on-year. Tampere and other geographical areas outgrew capital region in 2021 Net sales by business area Net sales by geography Net sales by customer group Net sales by project / service 10% 11% 10% 13% 13% 13% 17 % 14%
Slide 5: Quarterly performance overview
Quarterly performance overview Net sales, order intake and order backlog continues to grow year-on-year QUARTERLY NET SALES (EUR m) QUARTERLY ORDER INTAKE (EUR m) QUARTERLY ORDER BACKLOG (EUR m) FY’19 NET FY’20NET FY’21 NET FY’19 ORD. FY’20 ORD. FY’21 ORD. SALES: SALES: SALES: INTAKE: INTAKE: INTAKE
Slide 6: Quarterly net sales development
Quarterly net sales development Q4/2021 net sales amounted to EUR 82.6m, growing 5.8% year-on-year Quarterly net sales development Q1/2019 – Q4/2021 (EUR m) Comments ■ Q4/2021 net sales EUR 82.6m (78.1m) 115 – Year-on-year growth 5.8% – Organic growth 3.0% 95 – Housing Companies net sales EUR 27.3m
Slide 7: Quarterly Adjusted EBIT and EBIT development
*Adjusted EBIT = EBIT before items affecting comparability (IAC) Quarterly Adjusted EBIT and EBIT development ▪ IAC during the reporting period and comparison periods = Financial impact of arbitral award received in Full-year adjusted EBIT amounted to EUR 9.5m June 2021 as well as legal cost related
Slide 8: Quarterly order intake development
Quarterly order intake development Q4/2021 order intake EUR 66.9 million (54.3m), up by 23.1 percent y-o-y Quarterly order intake development Q1/2019 – Q4/2021 (EUR m) Comments ■ Q4/2021 order intake EUR 66.9m (54.3m) 100 – Year-on-year growth 23.1% 98,5 – Examples of new orders received in Q4: Quar
Slide 9: Quarterly order backlog development
Quarterly order backlog development Q4/2021 order backlog at EUR 218.6 million (177.9m), up by 22.9% y-o-y Quarterly order backlog development Q1/2019 – Q4/2021 (EUR m) Comments 250 ■ Q4/2021 order backlog at EUR 218.6m (177.9m) 237,8 236,2 226,8 – Order backlog at year-end 22.9% higher compared 218
Slide 10: Quarterly development in number of personnel
Quarterly development in number of personnel Total number of personnel at the end of Q4/2021 increased by 34 year-on-year Quarterly development in number of personnel Q1/2019 – Q4/2021 Comments 1 072 1 052 1200 ■ Number of personnel at the end of Q4/2021 961 1 028 998 997 (927), increase of 34 990 9
Slide 11: Implementation of Group Strategy progressed according to plan in 2021
Implementation of Group Strategy progressed according to plan in 2021 Focus Areas Objectives Achievements in FY2021 • Acquisition of RA-Urakointi Oy in order to to meet the increased • Growth in current • Controlled and profitable growth in attractive demand in housing company market Utilising 1 bus
Slide 12: Contents
CONTENTS 1. Highlights and Group performance 2. Cash flow and financial position 3. Market outlook, guidance and summary 4. Appendix 11 4 February 2022 Consti Plc / Financial statements 1-12/2021
Slide 13: Quarterly free cash flow development
Quarterly free cash flow development Q4 2021 free cash flow improved clearly year-on-year and was EUR 6.1 million Quarterly free cash flow1) and EBITDA Q1/2019 – Q4/2021 (EUR m) Comments 25 ■ Q4/2021 free cash flow EUR 6.1m (3.6m) Cash conversion Q1 ’19 – Q4 ’21: 96% – EBITDA amounted to EUR 4.0m (3
Slide 14: Quarterly net working capital development
Quarterly net working capital development Net working capital at EUR -12.3 million at the end of Q4/2021 Quarterly net working capital1) Q1/2019 – Q4/2021 (EUR m) Comments Q3/21 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q4/21 ■ Net working capital EUR -12.3m (-15.8m) at the end of
Slide 15: Quarterly balance sheet structure
Quarterly balance sheet structure Q4 financial position strengthened compared to previous quarter Quarterly net debt, equity ratio and gearing Q1/2019 – Q4/2021 Comments 30 100% 92,0 % ■ Financial position as per 31 December 2021 85,2 % 83,3 % 90% strengthened compared to previous quarter 25 76,3 %
Slide 16: Maturity distribution of interest-bearing debt
Maturity distribution of interest-bearing debt (31 December 2021) Consti refinanced its long-term loan in June 2021 Maturity profile of interest-bearing debt1) as per 31 Dec 2021 (EUR m) Comments 35 ■ Consti’s gross interest-bearing debt at EUR 27.0 million (excluding IFRS 16) at the end of Q4/2021
Slide 17: Realisation of Consti's long-term financial targets in 2021
Realisation of Consti’s long-term financial targets in 2021 Growth Profitability Cash flow Capital structure Dividends The Company’s aim is to distribute as Net sales growing Cash conversion Net debt to adjusted EBIT-margin dividends at least 50 faster than the ratio exceeding 90 EBITDA ratio of les
Slide 18: Contents
CONTENTS 1. Highlights and Group performance 2. Cash flow and financial position 3. Market outlook, guidance and summary 4. Appendix 17 4 February 2022 Consti Plc / Financial statements 1-12/2021
Slide 19: ESI and CCI for Finland
Economic sentiment and construction confidence in Finland have surpassed their long-term average levels as well as the pre-pandemic levels Economic Sentiment and Construction Confidence / Finland (2007 – 12/2021) Comments 150 ■ The spread of coronavirus and its Economic Sentiment Indicator accompany
Slide 20: Stable growth in renovation expected to continue going forward
Stable growth in renovation expected to continue going forward Finnish new building and renovation market development 2008 – 2024 Comments EUR b Renovation volume (real) New building volume (real) ■ According to Euroconstruct, the value of building renovation amounted to approximately EUR 14.0 billi
Slide 21: Outlook and guidance for 2022
Outlook and guidance for 2022 ■ The amount of construction is estimated to grow by around 2.0 percent in 2022 from the previous year. ■ The renovation market is estimated to grow by approximately 1.3 percent in 2022. Renovations of both residential buildings and business premises are expected to inc
Slide 22: Summary
Summary 1. Solid performance continued in Q4 as well in FY 2021 2. Strong development in order intake and order backlog in FY 2021 3. The Board of Directors proposes a dividend of EUR 0.45 per share, growing 12.5% year-on-year 4. Implementation of strategy progressing according to plan and to suppor
Slide 23: Contents
CONTENTS 1. Highlights and Group performance 2. Cash flow and financial position 3. Market outlook, guidance and summary 4. Appendix 22 4 February 2022 Consti Plc / Financial statements 1-12/2021
Slide 24: The Consti Way is Consti people's way of working and leading
THE CONSTI WAY IS CONSTI PEOPLE’S WAY OF WORKING AND LEADING
Slide 25: Kumppanisi korjausrakentamisessa | www.consti.fi
Kumppanisi korjausrakentamisessa | www.consti.fi
Slide 26: Financial Statements 1-12/2021
FINANCIAL STATEMENTS 1-12/2021 CONSTI PLC FY2021 CONSTI PLC HOPEATIE 2 FI-00440, HELSINKI BUSINESS ID 2203605-05 WWW.CONSTI.FI 25 26 April 2019 Consti Group Plc / Interim Report 1-3/2019