H+h International A/s · OMXCOP:HH
H+h International A/s — Q3 2024 Earnings Presentation
13 slides from H+h International A/s's earnings presentation, Nov 20, 2024
Slide 1: H+H International A/S Q3 2024 Financial Results
H+H International A/S Q3 2024 Financial Results Conference Call 20 November 2024
Slide 2: Forward-looking statements
Forward-looking statements This presentation contains forward-looking statements. Such statements are subject to risks and uncertainties, as various factors, many of which are beyond the control of H+H International A/S, may cause actual developments and results to differ materially from the expecta
Slide 3: Strongest EBIT bsi result since Q4 2022
Strongest EBIT bsi result since Q4 2022 Q3 2024 key takeaways Selected financial figures (1) Gross margin improved to 24%, better reflecting the Figures in DKKm unless otherwise stated. Q3 2023 figures in brackets underlying performance of the business and our restructuring program over the last two
Slide 4: Volume growth in Poland offset by Germany
Volume growth in Poland offset by Germany The United Kingdom: Revenue by region in DKKm. • Building registrations has have shown signs of improvement throughout the year, Q3 2023 Q3 2024 though growth has been from a low starting point. • Consumer confidence has improved, with optimism supported by
Slide 5: We have made considerable adjustments to our cost base
We have made considerable adjustments to our cost base Our business improvement program is focused on building a leaner organization, prepare for future growth and enhance shareholder value. Factory Cost Project network optimization ONE Financial benefits of DKK ~300 million compared to 2022 Fin
Slide 6: Poland and the UK driving organic growth
Poland and the UK driving organic growth Volumes by quarter (Thousand m3) Revenue by quarter DKKm. Revenue growth / organic growth 920 +4% / 2% 1,018 810 899 +5% 731 725 729 699 779 775 641 644 723 740 719 601 634 648 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q3 2022 Q4
Slide 7: A better reflection of the underlying performance
A better reflection of the underlying performance Gross Profit and Gross Margin Gross Profit (DKKm) Gross Margin (%) 350 30 300 25 24% 250 20% 20 200 18% 17% 174 16% 15 150 138 132 109 10 100 94 50 5 0 0 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Gross margin is driven by higher sales prices and norm
Slide 8: Special items
Special items Sale of land in Poland Restructuring cost: H+H has completed the sale of land and buildings from its closed plant in Warsaw for PLN 110 million (approximately DKK 190 million). Due to the ongoing market downturn in Germany, we anticipate restructuring The sales price of PLN 110 m
Slide 9: NIBD impacted by de-stocking and positive result for the quarter
NIBD impacted by de-stocking and positive result for the quarter Net interest-bearing debt Financial gearing DKKm. NIBD to EBITDA before special items Long-term financial target of 1-2x EBITDA 92 7 6,5x 73 38 21 6 5,1x 5 4,4x 4 3,6x 993 887 ~3x 3 2,6x 2 1 0 NIBD EBITDA Working CAPEX incl. Interest,
Slide 10: Updated financial outlook for 2024
Updated financial outlook for 2024 Revenue growth measured in local EBIT before special items is currencies (“organic growth”) expected to be (DKKm) Around 0% 50 to 80 (Unchanged) (from 50 to 100) Q3/24 Conference Call 10
Slide 11: Key takeaways
Key takeaways (1) Gross margin improved to 24%, better reflecting the underlying performance of the business and our restructuring program over the last two years. (2) In Q3 2024 we delivered our strongest EBIT bsi result since Q4 2022. (3) The Polish and UK markets are slowly improving building act
Slide 12: Q&A
Q&A 12
Slide 13: For further information, please contact
For further information, please contact Niclas Bo Kristensen Head of Investor Relations and Treasury nbk@HplusH.com H+H International A/S Lautrupsgade 7, 5th Floor 2100 Copenhagen Ø Denmark +45 35 27 02 00 info@hplush.com www.hplush.com 13