Slide 1: Half year financial report January - June 2022
Half year financial report January - June 2022 Esa Harju, CEO Juha Hyytiäinen, CFO Teleste Proprietary. All rights reserved. Unclassified
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by the Company. The information on which it is based has not been independently verified by any other person. This presentation is not intended to provide the basis of any investment decision and should not be considered as a recommendation by the Compa
Slide 3: Summary Q2 2022
Summary Q2 2022 Strong demand continued, but profitability deteriorated in challenging operating environment Q2 2022 Q2 2021 ▪ Net sales 38,4 M€ 35,8 M€ +7,2 % ▪ Orders received 46,8 M€ 43,9 M€ +6,7 % ▪ Adjusted EBIT 0,3 M€ 1,1 M€ -70,2 % ▪ EBIT 0,2 M€ 1,1 M€ -83,0 % ▪ Net profit -1,5 M€ 0,8 M€ -288
Slide 4: Teleste Group – Q2 2022
Teleste Group – Q2 2022 ▪ Orders received increased year-on-year but decreased quarter-on-quarter. Growth took place in access network products. ▪ Order book increased by 65,2 % year-on-year to new record level and amounted to EUR 139.1 million. EUR 56 million (41 %) of the deliveries are scheduled
Slide 5: Teleste Group, January - June 2022
Teleste Group, January - June 2022 1-6 2022 1-6 2021 YoY change 1-12 2021 Orders received, M€ 106,7 79,9 33,6 % 175,5 Net sales, M€ 76,3 72,8 4,8 % 144,0 Adjusted EBIT, M€ 0,4 2,6 -83,3 % 5,5 Adjusted EBIT, % 0,6 % 3,6 % 3,8 % EBIT, M€ 0,3 5,8 -95,0 % 8,7 Net profit, M€ -1,4 4,5 -131,2 % 6,9 Adjuste
Slide 6: Orders Received
Orders Received 200 175,5 180 160 140 120 106,7 4Q M€ 100 3Q 80 46,8 2Q 60 43,9 1Q 40 20 0 2021 2022H1 Teleste Proprietary. All rights reserved. Unclassified 6
Slide 7: Order Book (at the end of period)
Order Book (at the end of period) Teleste Group, M€ 140 130 139,1 120 110 100 108,6 90 80 M€ 70 77,1 71,0 73,2 60 50 40 30 20 10 0 2018 2019 2020 2021 H1 2022 Teleste Proprietary. All rights reserved. Unclassified 7
Slide 8: Net Sales
Net Sales 180 160 144,0 140 120 4Q 100 M€ 76,3 3Q 80 2Q 60 35,8 38,4 1Q 40 20 0 2021 2022H1 Teleste Proprietary. All rights reserved. Unclassified 8
Slide 9: Adjusted Operating Profit
Adjusted Operating Profit 7 6 5,5 5 4Q 4 M€ 3Q 3 2Q 2 1,1 1Q 1 0,4 0,3 0 2021 2022H1 Teleste Proprietary. All rights reserved. Unclassified
Slide 10: Net Profit
Net Profit 8 6,9 7 6 5 4 0,8 4Q 3Q M€ 3 2 2Q 1 -1,4 1Q 0 -1 - 1,5 -2 2021 2022H1 Teleste Proprietary. All rights reserved. Unclassified 10
Slide 11: Cash Flow From Operations
Cash Flow From Operations 16 13,5 - 0,7 14 12 9,6 10 8 1Q 6 2Q M€ 4,1 4 3Q 2 4Q 0 -2 -4 -6 2021 2022H1 Teleste Proprietary. All rights reserved. Unclassified 11
Slide 12: Balance sheet 30 June 2022
Balance sheet 30 June 2022 Assets Equity and Liabilities 146,6 146,6 134,7 134,7 Intangibles 49,7 Equity 46,1 65,7 Tangibles 66,0 13,7 10,1 Debt Inventories 36,0 25,7 34,6 Trade Trade 31,2 receivables 26,4 payables 30,0 24,3 Other 17,9 4,3 receivables Other 8,0 22,0 21,9 19,6 Cash 9,1 liabilities 30
Slide 13: Personnel (average during the period)
Personnel (average during the period) Discontinued operations excluded 2020 onwards 1 600 1 400 1 393 1 363 1 200 1 000 800 856 863 867 600 400 200 0 2018 2019 2020 2021 2022 H1 Cableway divestment in 2020 Teleste Proprietary. All rights reserved. Unclassified 13
Slide 14: Personnel (full-time equivalent at the end of period)
Personnel (full-time equivalent at the end of period) Continuing operations 897,0 884,0 Research & Development 208,2 204,6 Operations & Services 487,6 478,9 Sales & Marketing 104,2 108,2 Management & Corporate Functions 97,0 92,3 30.06.2022 30.06.2021 Teleste Proprietary. All rights reserved. Unclas
Slide 15: R&D costs
R&D costs 16 16% 1-6 2022 1-6 2021 M€ 8,2 7,1 14 14% 14,4 % of sales 10,7 % 9,8 % 12 13,5 12% 10,7 % R&D costs, M€ 12,5 10,0 % % of net sales 10 10,8 10% 8 7,4 % 8% 5,7 % 8,2 6 5,0 % 6% 4 4% 2 2% 0 0% 2018 2019 2020 2021 2022H1 Cableway divestment in 2020 Teleste Proprietary. All rights reserved. Un
Slide 16: Investments
Investments 1-6 2022 1-6 2021 14 14% M€ 7,8 4,8 12 12% % of sales 10,3 % 6,7 % 10,3 % 10 10% % of net sales 7,7 % 8 8% 5,5 % 6 6% 4,5 % 4 2,8 % 4% 2 2% 7,0 13,0 6,6 11,1 7,8 0 0% 2018 2019 2020 2021 2022H1 Cableway divestment in 2020 Teleste Proprietary. All rights reserved. Unclassified 16
Slide 17: Return on Capital Employed
Return on Capital Employed Including discontinued operations 15% 10,2 % 10% 9,3 % 5% 1,6 % 1,7 % 0% -5% -4,5 % -10% 2018 2019 2020 2021 2022H1 Teleste Proprietary. All rights reserved. Unclassified 17
Slide 18: Equity Ratio (at the end of period)
Equity Ratio (at the end of period) Including discontinued operations 60% 50% 53,3 % 51,7 % 49,5 % 48,8 % 46,2 % 40% 30% 20% 10% 0% 2018 2019 2020 2021 2022H1 Teleste Proprietary. All rights reserved. Unclassified 18
Slide 19: Net gearing (at the end of period)
Net gearing (at the end of period) Including discontinued operations 50% 40% 38,8 % 30% 34,1 % 20% 20,2 % 17,0 % 10% 5,9 % 0% 2018 2019 2020 2021 2022H1 Teleste Proprietary. All rights reserved. Unclassified 19
Slide 20: Net Debt / EBITDA (12 mth rolling)
Net Debt / EBITDA (12 mth rolling) 3,5x 3,0x 2,5x 2,4x 2,3x 2,0x 1,5x 1,0x 0,9x 0,9x 0,5x 0,3x 0,0x 2018 2019 2020 2021 2022H1 Teleste Proprietary. All rights reserved. Unclassified 20
Slide 21: Outlook for 2022
Outlook for 2022 Teleste estimates that net sales in 2022 will reach the level of net sales of 2021 and that the adjusted operating result in 2022 will remain significantly below the adjusted operating result of 2021. Net sales in 2021 were EUR 144.0 million, and the adjusted operating result was EU