Investment Ab Latour Class B · OMXSTO:LATO_B
Investment Ab Latour Class B — Q4 2023 Earnings Presentation
17 slides from Investment Ab Latour Class B's earnings presentation, Feb 12, 2024
Slide 1: Year-end report 2023
Year-end report 2023
Slide 2: Latour – a mixed investment company
Latour – a mixed investment company WHOLLY-OWNED INVESTMENT OPERATIONS PORTFOLIO Bemsiq Alimak Group Caljan ASSA ABLOY Hultafors Group CTEK Nord-Lock Group Fagerhult Swegon HMS Networks Latour Industries Nederman Securitas Latour Future Solutions Sweco Part-owned holdings Tomra Troax Page 2
Slide 3: Active principal owner in listed holdings
Active principal owner in listed holdings Net sales, m SEK if not stated otherwise Ebit , m SEK if not stated otherwise 12 000 1 200 200 000 30 000 2 000 200 10 000 1 000 6 000 900 10 000 1 000 25 000 1 600 160 8 000 800 5 000 750 150 000 8 000 800 20 000 4 000 600 1 200 120 6 000 600 6 000 600 100
Slide 4: Total return for the listed portfolio 2023
Total return for the listed portfolio 2023 Investment portfolio (23.9%) 70% 60% SIXRX (19,2%) 50% 40% 30% 20% 10% 0% -10% -20% -30% -40% -50% Fagerhult Alimak HMS Sweco Troax Assa Abloy Securitas Nederman Tomra CTEK The total return including share price growth and dividend, for each investment comp
Slide 5: Record year in the wholly-owned operations
Record year in the wholly-owned operations Page 5
Slide 6: Acquisitions during 2023
Acquisitions during 2023 Total annual contribution SEK 0.2 billion Page 6
Slide 7: Long-term positive market segment
Long-term positive market segment Net sales and operating profit SEK M Q4 2023 Q4 2022 2 000 400 Net sales 346 326 1 500 300 Operating result* 55 59 1 000 200 500 100 Operating margin %* 15.8 18.1 0 0 2019 2020 2021 2022 2023 * Excl. IFRS 16 Net sales profit Operating Page 7
Slide 8: Weak market conditions in the short-term
Weak market conditions in the short-term Net sales and operating profit SEK M Q4 2023 Q4 2022 2 500 500 467 562 2 000 400 Net sales 1 500 300 Operating result* 75 105 1 000 200 500 100 Operating margin %* 16.1 18.6 0 0 2019 2020 2021 2022 2023 * Excl. IFRS 16 Net sales profit Operating Page 8
Slide 9: Stable top line and good profitability
Stable top line and good profitability Net sales and operating profit SEK M Q4 2023 Q4 2022 10 000 1 500 1,835 1,876 8 000 1 200 Net sales 6 000 900 Operating result* 307 316 4 000 600 2 000 300 Operating margin %* 16.7 16.8 0 0 2019 2020 2021 2022 2023 * Excl. IFRS 16 Net sales profit Operating Pag
Slide 10: Building the basis for future business areas
Building the basis for future business areas Net sales and operating profit SEK M Q4 2023 Q4 2022 5 000 500 1,163 1,089 4 000 400 Net sales 3 000 300 Operating result* 95 71 2 000 200 1 000 100 Operating margin %* 8.2 6.5 0 0 2019 2020 2021 2022 2023 * Excl. IFRS 16 Net sales profit Operating Page 1
Slide 11: Record high profit
Record high profit Net sales and operating profit SEK M Q4 2023 Q4 2022 2 500 500 470 413 2 000 400 Net sales 1 500 300 Operating result* 98 74 1 000 200 500 100 Operating margin %* 20.9 17.9 0 0 2019 2020 2021 2022 2023 * Excl. IFRS 16 Net sales profit Operating Page 11
Slide 12: Strong order intake and stable net sales
Strong order intake and stable net sales Net sales and operating profit SEK M Q4 2023 Q4 2022 10 000 1 500 2,185 2,140 8 000 1 200 Net sales 6 000 900 Operating result* 226 304 4 000 600 2 000 300 Operating margin %* 10.3 14.2 0 0 2019 2020 2021 2022 2023 * Excl. IFRS 16 Net sales profit Operating P
Slide 13: Net asset value SEK per share at end of December
Net asset value SEK 198 per share by the end of December Investment Portfolio Wholly-owned Operations Wholly-owned Operations 78.8 57.7 0.2 Less net debt, etc. Development during the year 27.5 per cent 10.0 Latour’s net asset value 126.7 SEK per share All amounts are in SEK billion unless 198 stated
Slide 14: Financial targets
Financial targets Annual growth (minimum for all operations) >10% Operating margin (average for all operations) >15% Return on operating capital (minimum for all operations) >15% Company Presentation Page 14
Slide 15: Proposed dividend increase
Proposed dividend increase 4,50 4.10** 100% 4,00 3.70 3.30 3,50 3.00 1.25* 3,00 2.50 of received dividends from 2,50 2.25 Investment Portfolio 2.00 2,00 1.69 1.50 40-60% 1,50 1,00 0,50 of net profit from wholly- owned operations 0,00 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 * Original propo
Slide 16: International growth with great potential
International growth with great potential 81% 14% (79%) (15%) 71 % 57 % 5% (6%) 2017 2023 Net sales outside the Nordics Page 16
Slide 17: Latour
a pt LATOUR Q8A