Slide 1: Q1 report 2023/24
Q1 report 2023/24 Roland Kasper CEO, Anders Ulff CFO
Slide 2: Established at HQ in Skinnskatteberg, Sweden
Established at HQ in Skinnskatteberg, Sweden 1974 Turnover NASDAQ Annual net sales in mill. OMX Nordic Exchange 1,000 EUR 2007 Number of countries Countries Number of Countries 18 with own sales employees exported to companies 51 Own prod. facilities, 6,600 135 total book value of SEK 1.3 bn. 2
Slide 3: Net sales Q1
Net sales Q1 Organic growth development, R12 % SEK million 25 3,175 2,849 20 2,290 15 10 % Q1 2021/22 Q1 2022/23 Q1 2023/24 5 0 -5 11.4% 10.7% Growth Organic growth -10 Organic quarterly growth Organic growth R12 3
Slide 4: Growth analyze Q1
Growth analyze Q1 Organic 10.7% -3.5% 4.2% 11.4% • All regions showed good organic growth, except the Nordic region. Acquisitions • Mainly impact from the divestment of the AC-business. Total Currency Acquisitions Organic Currency • Weaker SEK towards, EUR, USD and CAD. 4
Slide 5: Operating profit Q1
Operating profit Q1 • The gross margin was unchanged at 34.6 percent (34.6). • Selling and administrative expenses for the quarter increased by 16.7 percent for comparable units. • Operating profit for the first quarter amounted to SEK 335 334.9 million (269.6). 270 • The operating margin increased
Slide 6: Profit after tax Q1
Profit after tax Q1 • Net financial items for the first quarter amounted to SEK -18.0 million (-3.8). • Currency effects on long-term receivables, loans and bank balances amounted to a net of 242 217 SEK +2.6 million (+7.5). • Interest expenses for the quarter amounted to 157 SEK -20.9 million (- 10
Slide 7: Cash flow analysis Q1
Cash flow analysis Q1 Q1 Q1 2023/24 2022/23 Cash flow from operating activities 388.5 309.0 Change in working capital -81.8 -373.8 Net investments, excl. acquisitions -129.3 -87.7 Free cash flow 177.4 -152.5 Net debts 1,433.0 2,628.1 • Last year, working capital increased sharply as a result of incr
Slide 8: Markets
Markets Other markets North America (12) Western Europe 14% (12) (46) Eastern Europe & Nordic region the CIS (13) 13% 46% (17) 13% 14% Eastern Europé and CIS 15 % (17) 8
Slide 9: Nordic
Nordic • Sales in the Nordic region decreased during the first quarter by 8.9 14% percent compared to the previous year. • Adjusted for currency effects and acquisitions, sales decreased by 9.3 percent. Percentage of turnover • The Danish market showed a positive development during the quarter, whil
Slide 10: Western Europe
Western Europe • Sales development on the Western European market continued to be 46% strong during the quarter with an increase of 12.4 percent compared to the corresponding period last year. • Adjusted for currency effects and acquisitions, sales increased by 9.5 percent. Percentage of turnover •
Slide 11: Groundbreaking for new production hall in Germany
Groundbreaking for new production hall in Germany Systemair celebrated the upcoming construction of our new production hall with a groundbreaking ceremony. The new building will cover an area of over 4,000 square meters and represents a significant expansion of our production and logistics capacity.
Slide 12: Eastern Europe and CIS
Eastern Europe and CIS • Sales in Eastern Europe and CIS increased during the quarter by 7.1 percent. 13% • Adjusted for currency effects and acquisitions, sales increased by 2.6 percent. • Most major markets within the region showed good growth such as the Czech Republic, Poland and Slovenia. Perce
Slide 13: North America
North America • Sales in North America increased by 26.6 percent during the quarter 13% compared to the same period last year. • Adjusted for currency effects, sales increased by 23.1 percent. • Both the American, Canadian and Mexican markets showed growth Percentage of turnover during the quarter.
Slide 14: Middle East, Asia, Australia and Africa
Middle East, Asia, Australia and Africa • Sales in the Middle East, Asia, Australia and Africa increased by 26.7 percent compared to the same period last year. 14% • Adjusted for currency effects and acquisitions, sales increased by 40.0 percent and are thus the second largest region within Systemai
Slide 15: Systemair brings trusted ventilation solutions to India's New Parliament Building
Systemair brings trusted ventilation solutions to India's New Parliament Building To one of the most iconic building, we deliver an extensive and specialized product range of Air Distribution Products to ensure the most optimum and reliable air quality levels in the prestigious building. 15
Slide 16: Systemair's ventilation products at leading e-Mobility suppliers in Europe
Systemair's ventilation products at leading e-Mobility suppliers in Europe During the year 2022/23, Systemair has delivered air handling units to a number of large e-Mobility projects in Europe. In total, it is more than 250 large units both with and without heat recovery for American and European c
Slide 17: Thank you, welcome with questions!
Thank you, welcome with questions! 17