Byggma Asa · OSL:BMA

Byggma Asa — Q2 2021 Earnings Presentation

32 slides from Byggma Asa's earnings presentation, Aug 26, 2021

  1. Slide 1: Q2 2021 results

    [Byggma at a glance] Q2 2021 results 26 August 2021 1

  2. Slide 2: Todays presenter

    Todays presenter Geir Drangsland CEO and shareholder 2

  3. Slide 3: Company

    BYGGMA group Company

  4. Slide 4: Byggma is a leading Nordic supplier of building product solutions

    Byggma is a leading Nordic supplier of building product solutions Introduction  Leading supplier of building product solutions in the Nordics, with a special focus on various boards, beams, windows & doors, and lighting products Vennesla, Norway ~700 Headquarter Employees  Byggma owns 8 companies/

  5. Slide 5: #1 market position for boards and beams in the Nordics and growing internationally

    #1 market position for boards and beams in the Nordics and growing internationally Byggma segment Boards I-beams Windows and doors Lighting Companies / brands Product illustrations Clear #1 position within particle boards, Nordic market 1 decorative interior 1 Clear #1 position Growing market Growin

  6. Slide 6: Highly attractive offering towards all the major building material chains in the Nordics

    Highly attractive offering towards all the major building material chains in the Nordics Highest production Superior product In-house developed capacity in the quality versus innovative products Nordics1 competition and solutions Good control of the No need for large Large flexibility in distributio

  7. Slide 7: Financials

    BYGGMA group Financials

  8. Slide 8: P&L Summary

    P&L Summary NOKm Q2 2021 Q2 2020 H1 2021 H1 2020 2020 Sales revenue 606.6 490.6 1,166.4 1,022.8 2,052.4 EBITDA 74.6 55.1 145.5 121.7 269.6 EBIT 54.3 35.9 105.3 83.6 192.6 Net financials (5.3) (7.9) (2.7) (29.4) (32.9) Profit before tax 49.0 28.0 102.6 54.2 159.7 Tax (10.9) (6.4) (22.4) (12.1) (34.8)

  9. Slide 9: Consolidated balance sheet

    Consolidated balance sheet Assets (NOKm) 30 Jun 2021 30 Jun 2020 31 Dec 2020 Equity and liabilities (NOKm) 30 Jun 2021 30 Jun 2020 31 Dec 2020 Fixed assets 929 932 932 Share capital 53 53 53 Intangible assets 23 27 25 Other equity 14 15 25 Deferred tax assets 5 10 7 Retained earnings 442 845 912 Lon

  10. Slide 10: Byggma is set to continue demonstrated growth through identified growth avenues

    Byggma is set to continue demonstrated growth through identified growth avenues Growth initiatives (NOKm) The leading Nordic building M&A solution provider Expand product portfolio, diversify into new segments and Product innovation 3,000 strengthen private labels New product launches and value-adde

  11. Slide 11: Large growth potential for further consolidation within building material products

    Large growth potential for further consolidation within building material products Several attractive M&A targets has been identified Breakdown of identified M&A targets (# targets) Byggma M&A strategy and track record Adjacent products include wood By product offering  fibreboards, particle and MD

  12. Slide 12: Investment highlights

    Investment highlights  The leading Nordic provider of particle board, decorative interior panels, fibreboards, MDF interior walls & Market leading position ceiling panels, and I-Beams  Growing position in Europe and within adjacent product areas  >90% of revenues in the Nordics Strong underlying

  13. Slide 13: Large potential from recent product innovations

    Large potential from recent product innovations Walls2Paint Premium Ceiling Proff Vegg Smartpanel Fuktbestandig 2014 2020 2020 2021  A ready to paint plain ceiling panel  Click-based wall boards  Moisture resistant wood fibre boards with a unique 4-sided locking profile Description  Wood-based,

  14. Slide 14: Appendix

    BYGGMA group Appendix

  15. Slide 15: Byggma still has ample available production capacity and high growth potential from value-added products

    Byggma still has ample available production capacity and high growth potential from value-added products Company / brand Key financials (2020) Nominal production capacity Available capacity Growth potential Other potential Large potential from Production capacity can transitioning to higher share of

  16. Slide 16: Targeted approach towards environmentally friendly production and initiatives

    Targeted approach towards environmentally friendly production and initiatives 1 Raw material sourcing Byggma utilize sustainable wood raw materials from certificated sources 2 Production line 5 Product recycling Byggma has invested in modern and energy efficient production Byggma’s wood-based produc

  17. Slide 17: Byggma's manufacturing and product offering contribute to a more environmentally friendly society

    Byggma‘s manufacturing and product offering contribute to a more environmentally friendly society 5.6% 47% The CO2 abatement from Masonite’s I-beam systems use Byggmas board products 47% less raw material compared corresponds to 5.6% of the to massive tree constructions Norway’s total road traffic e

  18. Slide 18: Byggma takes an active role towards sustainability and responsible production

    Byggma takes an active role towards sustainability and responsible production Byggma’s main goal is to develop and deliver sustainable solutions based on renewable raw materials and unique competense. Sustainability is, and has always been, a core element in Byggma’s business model and a natural par

  19. Slide 19: Consolidated income statement

    Consolidated income statement NOKm Q2 2021 Q2 2020 H1 2021 H1 2020 2020 2019 Sales revenue 607 491 1,166 1,023 2,052 1,783 Other revenue 6 8 12 16 23 23 Total revenue 613 499 1,178 1,039 2,075 1,806 COGS (316) (253) (604) (521) (955) (844) Personnel expenses (131) (112) (251) (226) (439) (424) D&A (

  20. Slide 20: Leading Nordic presence, with growing international customer base

    Leading Nordic presence, with growing international customer base Production facilitites and offices Revenue by country (NOKm) Production and distribution facilities Distribution and offices 2 052 145 1 784 23 1 Birkeland 45 6 72 2 Braskereidfoss 1 620 1 655 141 3 Fredrikstad 97 119 45 16 5 62 400 4

  21. Slide 21: Strong topline and profitability improvements last few years

    Strong topline and profitability improvements last few years Revenue (NOKm) Consolidated EBITDA and EBIT (NOKm) Adj. 7.2% 3.9% 8.1% 4.9% 13.1% 9.4% 11.9% 8.2% 12.5% 9.0% 2 300 margin 2 052 1 783 1 619 1 655 1 515 1 433 144 1 270 88 193 15 146 143 119 122 105 73 84 65 2018 2019 2020 H1 2020 H1 2021 2

  22. Slide 22: Robust cash conversion ratio

    Robust cash conversion ratio Operating cash flow and cash conversion (NOKm)  Byggma has a history of strong cash flow Cash conversion (%) generation over the last years which is set to 77% continue going forward  This has allowed the company to invest significantly in product innovation in additio

  23. Slide 23: Consolidated cash flow statement

    Consolidated cash flow statement 23

  24. Slide 24: Byggma has a rich history characterized by successful acquisitions and product innovations

    Byggma has a rich history characterized by successful acquisitions and product innovations Company milestones Revenue (NOKm) Introduction of decorative Introduction of Premium tails design and click Ceiling and Huntonit 2 500 solution on bathroom Proffvegg boards from Fibo-Trespo 12% CAGR since 1998

  25. Slide 25: Byggma operates 8 high-end manufacturing and distribution facilities

    Byggma operates 8 high-end manufacturing and distribution facilities Huntonit AS Aneta Belysning Location: Vennesla, Agder Location: Växjö, Sweden Total area: 78,112m2 Total area: 31,728m2 Production area: 19,664m2 Warehouse facility: 6,500m2 Year of construction: 1948-1988 Year of construction: 197

  26. Slide 26: Experienced management team and organization

    Experienced management team and organization Organization by company Geir Drangsland Jens Unhammer CEO CFO 7 40 17  CEO in Byggma since 2009 and chairman from 2000-2009  CFO in Byggma since 2003 after joining as Finance Manager in 43  Currently CEO of Investor AS, main shareholder in Byggma 2000

  27. Slide 27: Board of directors

    Board of directors Terje Gunnulfsen Knut Henning Larsen Hege Aarli Klem Liv Anne Drangsland Holst Chairman Board member Board member Board member  Chairman since 2009 and  Board member since 2020  Board member since 2016 board member since 2001  Board member since 2019  Currently Head of Market

  28. Slide 28: Shareholder overview per 1 August 2021

    Shareholder overview per 1 August 2021 Shareholder # shares % ownership Investor AS 1) 47,633,790 68.21% Sørlands-Vekst AS 1) 10,000,000 14.32% Investor 6 AS 1) 4,000,000 5.73% TEG Invest AS 686,320 0.98% Beeline AS 531,760 0.76% Narmont AS 485,640 0.70% Gunnar Bernhard Brandsberg 290,550 0.42% Øyst

  29. Slide 29: Group structure

    Group structure Byggma ASA 100% Masonite Aneta Byggma AS Byggform Forestia AS Smartpanel AS Huntonit AS Uldal AS Scan Lamps AS Beams AS Belysning AB Eiendom AS1 100% 100% Forestia Carbon RBI Interiör Masonite Scan Lamps Byggma Eiendom Birkeland Huntonit AB Sink AS AB Beams AB VTA AS Lyngdal AS Eiend

  30. Slide 30: Subsidiaries of Byggma ASA

    Subsidiaries of Byggma ASA Company Acquisition date Headquarter Book value in Byggma1 (NOKm) Aneta Belysning AB 01.01.2005 Växjö, Sweden 27,453 AS Byggform 12.09.2019 Asker 22,744 Birkeland Eiendom AS 03.06.2004 Birkeland 8,354 Byggma Eiendom AS 31.03.2003 Lyngdal 15,250 Forestia AS 01.03.2006 Brask

  31. Slide 31: Key takeaways

    Key takeaways Market leading position Robust underlying market Strong brands and product offering 1 Long history of profitable growth Attractive growth trajectory 31

  32. Slide 32: [Byggma at a glance]

    [Byggma at a glance] www.byggma.no 32

Byggma — Q2 2021 Earnings Presentation on 6ix