Slide 1: Interim Q3 2024
Interim Q3 2024 INTERIM REPORT Q3 2024 1
Slide 2: Table of Content
1. Highlights TABLE OF 2. Financials CONTENT 3. Summary 4. Q&A INTERIM REPORT Q3 2024 2
Slide 3: Highlights Q3 2024 – Group
Highlights Q3 2024 – Group MSEK Net sales and EBITA, excl. IAC*, % Stable quarter with good profitability 10 000 11,4% 11,3% • Sales at 9 493 MSEK (8 491), an increase of 12% 8 000 10,4% 8,4% • Organic sales increased by 3% 6 000 4 000 8 491 9 493 • Acquisition impact of +12% 5 979 2 000 4 341 • FX
Slide 4: Highlights Q3 2024 – Group
Highlights Q3 2024 – Group • Stable organic growth across all product segments MSEK Organic sales per product segment Sales split 10 000 • OEM segment, continued good growth 9 000 3% 8 000 • Fenagy secured its first order in Germany, which will be an 7 000 35% important market for Fenagy’s continued
Slide 5: Highlights Q3 2024 – Division EMEA
Highlights Q3 2024 – Division EMEA Stable quarter with continued trends from Q2 MSEK Q3 24 Q3 23 Change, % 9M 24 9M 23 Net sales 5 499 5 268 4 15 885 15 691 • Division EMEA reported YoY growth of 4% – despite a negative Of which currency effect, % -2,6 FX impact of 3% and continued low activity in s
Slide 6: Highlights Q3 2024 – Division APAC
Highlights Q3 2024 – Division APAC Continued good development MSEK Q3 24 Q3 23 Change, % 9M 24 9M 23 Net sales 1 575 1 314 20 4 660 4 020 • Sales in the quarter increased by 20% – supported by Of which currency effect, % -1,8 acquisitions and a growing demand for commercial refrigeration EBITA 131 1
Slide 7: Highlights Q3 2024 – Division North America
Highlights Q3 2024 – Division North America Our North America platform continues to develop MSEK Q3 24 Q3 23 Change, % 9M 24 9M 23 Net sales 2 428 1 924 26 6 361 4 868 • Sales growth in the quarter of 26%, driven by acquisitions. Of which currency effect, % -3,0 Regional closures towards the end of
Slide 8: Sales development, %
Financials Q3 2024 – Sales development, % % 55 50 45 40 35 30 25 50 46 20 42 38 36 15 31 30 31 25 10 13 12 12 5 4 0 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Of which organic growth 17,9 6,4 11,6 15,8 13,3 18,6 17,9 14,5 1,7 -4,4 -4,1 -4,1 2,2 2,7 INTERIM REPORT Q
Slide 9: EBITA development
Financials Q3 2024 – EBITA* development MSEK % 11,7 11,9 1 200 11,4 12 11,3 1 100 10,4 11 1 000 9,8 10 900 9,5 9,5 9,5 800 9 700 8 600 1 148 1 084 7 500 1 016 959 400 6 702 721 733 300 622 570 5 200 4 100 0 3 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 EBITA EBITA % * Excluding items affec
Slide 10: EBITA
Financials Q3 2024 – EBITA Quarter YTD +13% +11% 1 084 11,3 11,4 2 966 10,9 11,0 959 2 677 Q3 23 Q3 24 Q3 23 Q3 24 9M 23 9M 24 9M 23 9M 24 EBITA MSEK EBITA % EBITA MSEK EBITA % INTERIM REPORT Q3 2024 10
Slide 11: Financials Q3 2024
Financials Q3 2024 Organic EBITA EPS change Sales growth growth (change in EBITA, %) (change in %) 12% 13% 17% 3% INTERIM REPORT Q3 2024 11
Slide 12: P&L
Financials Q3 2024 – P&L MSEK Q3 2024 Q3 2023 Change, % 9M 2024 9M 2023 Sales 9 493 8 491 12% 26 854 24 522 EBITA 1 084 959 13% 2 966 2 677 EBITA margin, % 11,4% 11,3% 11,0% 10,9% EBIT 1 033 912 13% 2 815 2 548 Net financial income/expense excl. IAC -153 -158 -432 -321 Net financial income/expense -
Slide 13: Earnings per share
Financials Q3 2024 – Earnings per share SEK +3% 3,5 3,0 2,5 2,0 3,40 3,50 1,5 +17% 1,0 1,30 0,5 1,10 0,0 Q3 23 Q3 24 9M 23* 9M 24 * Excl. IAC and adjusted to reflect the same average number of outstanding shares for both periods INTERIM REPORT Q3 2024 13
Slide 14: Operating cash flow
Financials Q3 2024 – Operating cash flow MSEK 1 600 1 500 -94 1 400 196 1 300 -138 -18 1 200 1 100 1 000 900 800 700 1 285 1 231 600 500 400 300 200 100 0 EBITDA Working capital CapEx Leasing Other Q3 24 INTERIM REPORT Q3 2024 14
Slide 15: Operating cash flow
Financials Q3 2024 – Operating cash flow MSEK 2 000 1 500 1 000 1 810 1 231 500 1 084 633 582 307 354 0 -209 -196 -500 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 INTERIM REPORT Q3 2024 15
Slide 16: Net debt
Financials Q3 2024 – Net debt Net debt Net debt / EBITDA* excl. leasing and pension MSEK Q3 24 Q3 23 2,6 LTM EBITDA excl. IAC 4 446 3 895 2,4 2,3 2,3 2,2 2,1 LTM EBITDA impact of leasing (IFRS 16) -635 -540 2,1 2,0 2,0 1,9 1,9 LTM EBITDA excl. leasing (IFRS 16) and IAC 3 812 3 354 1,8 1,7 1,6 Net de
Slide 17: Summary Q3
Summary Q3 Q3 – Stable quarter with good profitability • Total sales growth of 12% (organic +3%) – stable organic growth across all product segments • EBITA growth of 13% with a margin of 11,4% (11,3) • Operating cash flow at 1 231 MSEK (1 084) • Earnings per share of 1,30 SEK (1,10), an increase of
Slide 18: Q&A
Q&A INTERIM REPORT Q3 2024 18
Slide 19: Thank you
Thank you INTERIM REPORT Q3 2024 19