15 slides from Electrolux Professional Ab Class B's earnings presentation, Oct 27, 2023
Slide 1: Q3 2023 result presentation
Q3 2023 result presentation Alberto Zanata, President and CEO Fabio Zarpellon, CFO ” Somewhat weaker sales and profitability while cash generation improved.”
Slide 2: Q3 highlights
Q3 highlights Somewhat weaker sales and profitability SEKm Jul-Sep 2023 Jul-Sep 2022 Change, % while cash generation improved Net sales 2,752 2,782 -1.1 EBITA 290 317 -8.6 • Sales decreased by 1.1% EBITA margin, % 10.5 11.4 • Organically, sales decreased by 5.3%. Operating cash flow after investment
Slide 3: Q3 organic sales development per region
Q3 organic sales development per region 0% -15% Sales in Europe was flat in the Sales in quarter. Americas 3% declined significantly in Growth in Asia- the quarter. Pacific, Middle East and Africa. Electrolux Professional Group Q3 2023 Presentation 3
Slide 4: Q3 Food & Beverage
Q3 Food & Beverage Sales declined significantly in the US SEKm Jul-Sep Jul-Sep Change, while Europe was close to flat 2023 2022 % • Organically, sales decreased by 8.0% Net sales 1,775 1,840 -3.6 Organic growth, % -8.0 8.7 • Sales decreased organically by approximately Acquisitions, % - 32.2 3% in E
Slide 5: Q3 Laundry
Q3 Laundry Flat organic sales development SEKm Jul-Sep Jul-Sep Change, • Sales increased organically by 22% in Asia Pacific, 2023 2022 % Middle East and Africa, and by 2% in Europe, but Net sales 977 942 3.7 decreased by 18% in Americas. Organic growth, % -0.1 28.1 • EBITA decreased and amounted to
Slide 6: Financial overview Q3
Financial overview Q3 SEKm Jul-Sep Jul-Sep Change, % EBITA development 2023 2022 • Lower EBITA mainly due to lower Net sales 2,752 2,782 -1.1 sales volumes (primarily in the US), Gross operating income 945 925 2.2 and currency transaction effects of approximately SEK -40m. Gross operating margin, %
Slide 7: Continued strong cash generation
Continued strong cash generation SEKm Jul-Sep Jul-Sep Operating cash flow after investments, SEKm 2023 2022 600 EBIT 247 277 500 Depreciation, amortization and other 120 112 400 non-cash items 300 Change in operating assets and liabilities 23 -309 200 100 Investments in intangible and tangible -56 -
Slide 8: Operating working capital (OWC) and financial position
Operating working capital (OWC) and financial position SEKm 30 Sep, 2023 30 Sep, 2022 % Operating working capital % of net sales Inventories 1,969 2,118 22 20 Trade receivables 2,006 2,208 18 Trade payables 1,759 2,021 16 Operating working capital 2,216 2,305 14 12 Operating working capital of 18.2
Slide 9: Further improved Net debt/EBITDA ratio
Further improved Net debt/EBITDA ratio 2.3 2.0 1.8 1.5 1.4 1.3 1.2 1,836 2,196 2,711 2,050 2,051 2,086 1,850 2022 Q1 Q2 Q3 Q4 Q1 2023 Q2 Q3 Net debt, SEKm Net debt/EBITDA Electrolux Professional Group Q3 2023 Presentation 9
Slide 10: Funding sources and capabilities expanded
Funding sources and capabilities expanded • A commercial paper program with a framework amount of SEK 2,000 million was successfully launched in September. • The program will mainly be used for short-term financing of working capital needs and to replace other short-term financing. • An inaugural is
Slide 11: Electrolux Professional Group's science-based targets approved by SBTi
Electrolux Professional Group’s science-based targets approved by SBTi • We are committed to • reduce greenhouse gas emissions by 70% by 2030 (scope 1 and 2) • reduce indirect use phase emissions by 27.5% by 2030 (scope 3). • These were validated by the Science Based Targets initiative (SBTi) in Aug
Slide 12: The Hive - live customer event in Italy
The Hive - live customer event in Italy • In October our Center of Excellence in Vallenoncello, Italy welcomed over 400 guests from all over the world • Experience how Electrolux Professional is the leading brand in the food service industry when it comes to sustainable and digital solutions. Electr
Slide 13: Summary
Summary • Somewhat weaker sales and profitability. • EBITA of SEK 290m corresponding to a margin of 10.5%. EBITA negatively impacted by lower volumes, and currency transaction effects of approximately SEK -40m. • We demonstrated solid cash flow generating capability. • Net debt/EBITDA improved signi
Slide 14: Q&A
Q&A
Slide 15: Electrolux Professional Group
Electrolux Professional Group