Slide 1: Interim Report First Quarter January – March 2024
Interim Report First Quarter January – March 2024 Bengt Lejdström Susanna Zethelius Creating sustainable, efficient and safe societies President & CEO CFO
Slide 2: Sdiptech in short
Sdiptech in short Two business areas with six infrastructure segments Resource Efficiency Special Infrastructure Solutions Creating sustainable, efficient and safe societies An infrastructure technology group Water & Power & Bioeconomy & Air & Safety & Transportation & Sanitation Energy Waste manage
Slide 3: Summary of the first quarter
Summary of the first quarter Highlights NET SALES ▪ Favourable market conditions and solid 1,335 demand continue MSEK ▪ Stable org. profit growth Increased 24% of which ▪ Solid cash conversion ▪ Cash flow of 167 MSEK (98) 10% org. excl. currency ▪ Acquisitions: ▪ JR Industries in UK (Q1-24) ADJUSTED
Slide 4: Net sales & Adj. EBITA margin
Net sales & Adj. EBITA margin MSEK Net Sales Adj. EBITA margin Quarter 5,500 25% 5,078 Net sales increased by 24% of which 10% organic 5,000 4,818 ▪ Continued high customer activity in most customer 4,119 4,467 4,500 19.1% 19.2% 19.4% 19.3% 19.1% 19.1% 20% segments and geographies 18.7% ▪ The market
Slide 5: Adj. EBITA
Adj. EBITA MSEK Adj. EBITA 1,000 970 25% Quarter 922 864 ▪ Adj. EBITA increased by 24%, 800 20% whereof 5% organic, excl 730 currency 671 ▪ Many comparable units had 15% stronger results than last year 509 ▪ Acquired units had earnings in 500 line with or above expectations 10% 347 Over time 262 ▪ 3
Slide 6: Resource Efficiency
Resource Efficiency Quarter Water & Sanitation Net sales (SEKm) Adj. EBITA (SEKm) Adj. EBITA margin (%) Sales increased by 16% to SEK 455m (391) ▪ Most comparable units had a solid demand Power & Energy ▪ Acquisitions also contributed 24,3% 1 714 1 650 22,7% Adj. EBITA increased by 25% to SEK 111m (
Slide 7: Special Infrastructure Solutions
Special Infrastructure Solutions Quarter Water & Sanitation Net sales (SEKm) Adj. EBITA (SEKm) Adj. RBITA margin (%) Sales increased by 29% to SEK 880m (685) ▪ Solid contribution from several large 3 364 Power & Energy comparable units 3 169 20,2% 19,3% 18,6% 19,7% Adj. EBITA increased by 19% to SEK
Slide 8: Acquisitions
Acquisitions 170 158 161 160 150 150m 140 JR Industries Ltd in UK (Q1-24) ▪ Approx. GBP 4.5 million in annual EBIT 130 ▪ Roller shutter doors for commercial vehicles 120 120m ▪ Stable growth driven by several long-term trend ▪ SDG 8.2 diversify, innovate and upgrade for economic productivity 110 ▪ S
Slide 9: Sales split
Sales split Turnover by type of revenue Geographical distribution of sales LTM Q1 2024 LTM Q1 2024 Distribution Other, rest of the world 0% 7% Service Sweden 21% Other, Europe 20% 14% Italy 5% Norway 5% 59% 20% 5% Germany 5% USA 41% Installation Proprietary products United Kingdom 9 Sources: Sdiptec
Slide 10: Cash flow & Cash conversion
Cash flow & Cash conversion MSEK 700 115.0% 109.0% 120% Quarter 619 619 110% 565 100% ▪ Working hard to manage accounts receivables and optimize inventories despites increased demand 90% 80.0% and sales 451 385 80% 71.0% 73.0% 63.0% 67.0% 70% ▪ Cash flow amounted to MSEK 167, corresponding 56.0% 60%
Slide 11: Additional metrics
Additional metrics Jan-Mar Jan-Mar LTM Mar Jan-Dec 2024 2023 2024 2023 Profit after tax, (SEK million) 107 96 457 446 Earnings per ordinary share after dilution (SEK) 2.71 2.43 11.61 11.33 Financial net debt1/Adjusted EBITDA, 2.17 2.47 2.17 2.02 multiple Net debt2/Adjusted EBITDA, multiple 3.32 3.89
Slide 12: Additional metrics
Additional metrics Jan-Mar Jan-Mar LTM Mar Jan-Dec 2024 2023 2024 2023 Profit after tax, (SEK million) 107 96 457 446 Earnings per ordinary share after dilution (SEK) 2.71 2.43 11.61 11.33 Financial net debt1/Adjusted EBITDA, 2.17 2.47 2.17 2.02 multiple Net debt2/Adjusted EBITDA, multiple 3.32 3.89
Slide 13: Looking ahead
Looking ahead Highlights Continued solid demand ▪ Solid start of the financial year with high customer activity in all business areas ▪ We continue to benefit from our strong positions in non-cyclical sectors Growing steadily from acquisitions ▪ Great dialogues with qualitative companies ▪ Solid fin
Slide 14: Appendix
Appendix > svITECH
Slide 15: Management Team and Board of Directors
Management Team and Board of Directors Management Bengt Lejdström 83,590 (Class B) 500 (Pref) 87,500 (Warrants) Anders Mattson 50,533 (Class B) 52,000 (Warrants) CEO Lagercrantz Group, Interim Justitia, Acando Head of Special Munters, Roland Berger, Bearingpoint M.Sc. Stockholm School of Economics I
Slide 16: Ownership March 2024
Ownership 31 March 2024 Owner SDIP A SDIP B PREF CAPITAL % VOTES % Vulcan Value Partners, LLC 3,963,256 9.97% 7.54% Swedbank Robur Fonder 3,234,909 8.14% 6.15% Handelsbanken Fonder 3,028,714 7.62% 5.76% Invesco 2,160,808 5.44% 4.11% Cliens Fonder 2,074,035 5.22% 3.95% Ashkan Pouya 1,424,000 592,967
Slide 17: Adjusted EBITA → Net profit
Adjusted EBITA → Net profit MSEK 2024 2023 2024 2023 Q1 Q1 LTM Mar Full Year Net Sales 1,335 1,076 5,078 4,818 Operational costs -1,084 -872 -4,108 -3,897 Profit from operations, adjusted EBITA 251 203 970 922 EBITA*, best representation of the profits from the ongoing operations Acquisition costs -