Fagerhult Group Ab · OMXSTO:FAG
Fagerhult Group Ab — Q3 2024 Earnings Presentation
24 slides from Fagerhult Group Ab's earnings presentation, Oct 28, 2024
Slide 1: We light up your world
We light up your world Q3 2024 presentation October 28, 2024 www.fagerhultgroup.com
Slide 2: CEO comments
CEO comments ─ Currently slower market conditions where the decision-making cycle has increased, delaying projects ─ We take important actions on cost reduction plus restructuring programmes in three entities ─ Opportunities in retrofit following fluorescent ban ─ Continued strong gross margin devel
Slide 3: Q3 2024 in figures
Q3 2024 in figures Order intake: 1 873 MSEK (2 026) -5,1% organic Net sales: 1 919 MSEK (2 079) -5,2% organic Operating profit before IAC : 181 MSEK (240) Operating margin before IAC: 9,4% (11,5%) Earnings per share before IAC: 0,58 SEK (0,90) Q3 2024 presentation 3
Slide 4: YTD 2024 in figures
YTD 2024 in figures Order intake: 6 106 MSEK (6 312) -2,5% organic Net sales: 6 266 MSEK (6 450) -2,2% organic Operating profit before IAC : 598 MSEK (685) Operating margin before IAC: 9,5% (10,6%) Earnings per share before IAC: 1,99 SEK (2,48) Q3 2024 presentation 4
Slide 5: Our operating model
Our operating model Business Collection Premium Professional Infrastructure areas Smart lighting Strategic People & Innovation Sustainability focus areas Culture Q3 2024 presentation 5
Slide 6: Ban of fluorescent lighting
Ban of fluorescent lighting ─ Production and import to EU banned since August 2023 ─ Inventory levels running out in wholesale ─ Generating more opportunities for renovation projects Q3 2024 presentation 6
Slide 7: Fagerhult Group
Fagerhult Group Option 1 Upgrade existing luminaires with new LED technology Option 2 Install a new LED lighting solution in ee, a Option3 Replace the fluorescent lamp with an LED tube
Slide 8: Energy consumption
Smart lighting brings savings beyond LED technology Conventional Lighting 70% Energy consumption daylight LED Technology presence 35-40% 70% smart lighting Smart Lighting 10-30% Q3 2024 presentation 8
Slide 9: Smart lighting Solutions – Our tiered offering
Smart lighting Solutions – Our tiered offering Out of the box SmartStart (Stand alone) SmartLight Services (Connected offering) SmartInsight SmartPlus Q3 2024 presentation
Slide 10: Brent Cross
Brent Cross ─ New office building at London’s new net-zero business and innovation district in Brent Cross ─ Full project, indoor and outdoor solutions ─ Organic Response equipped: • Energy savings • Ease of installation • Future proof flexibility • Integration with other building services Q3 2024 p
Slide 11: University of Tasmania
Tasmania, Australia Collection University of Tasmania
Slide 12: Financial summary Q3
Financial summary Q3 Q3 2024 presentation 12
Slide 13: Financial summary YTD
Financial summary YTD Q3 2024 presentation 13
Slide 14: Sales development
Sales development Net sales R12 Net sales R12, MSEK Q3 2024 presentation 14
Slide 15: Margin development
Margin development Operating margin before IAC by quarter and R12 Operating margin before IAC,% Rolling 12 months Q3 2024 presentation 15
Slide 16: Collection
Collection Financials Q3 ─ Order intake 777 (950) MSEK, organic -15,7% ─ Net sales 854 (875) MSEK, organic +0,5% ─ Operating margin before IAC 7,1% (8,5%) Business update ─ The high-end segment of the lighting market experience the highest number of project delays ─ YtD operating margin before IAC a
Slide 17: Premium
Premium Financials Q3 ─ Order intake 636 (606) MSEK, organic 6,6% ─ Net sales 670 (729) MSEK, organic -6,4% ─ Operating margin before IAC 13,7% (15,4%) Business update ─ Strong +6.6% organic order intake growth with YTD organic order intake growth at +2,8% ─ Re-structuring at LTS to reduce the forwa
Slide 18: Professional
Professional Financials Q3 ─ Order intake 247 (261) MSEK, organic -1,9% ─ Net sales 256 (297) MSEK, organic -10,6% ─ Operating margin before IAC 5,1% (12,2%) Business update ─ Continued year-on-year improvement in UK, Australia stable at a low level ─ Re-structuring at Arlight to reduce the forward
Slide 19: Infrastructure
Infrastructure Financials Q3 ─ Order intake 213 (207) MSEK, organic +4,8% ─ Net sales 205 (255) MSEK, organic -17,8% ─ Operating margin before IAC 11,9% (14,8%) Business update ─ Positive order intake growth in two consecutive quarters ─ Re-structuring at Veko; 1) to reduce the forward cost base and
Slide 20: Cash flow
Cash flow Operating cash flow by quarter and R12 Cash flow by quarter, MSEK Rolling 12 months Q3 2024 presentation 20
Slide 21: Net debt development
Net debt development Net debt and Net debt/EBITDA ratio Net debt, MSEK Net debt/EBITDA* Q3 2024 presentation *EBITDA adjusted for acquisitions/divestments on a proforma basis and excluding items affecting comparability 21
Slide 22: Earnings per share
Earnings per share Earnings per share by quarter and R12 Earnings per share before IAC by quarter, SEK Rolling 12 months Q3 2024 presentation 22
Slide 23: Hvinningdal Church
Silkeborg, Denmark Collection Hvinningdal Church
Slide 24: Conclusions and recap
Conclusions and recap ─ We see slower market conditions with uncertainties arising from economic and political conditions ─ By adjusting our cost base, we are in better shape and are ready for when the markets return ─ Opportunities in renovation with our solutions, including Organic Response ─ Cont