Byggma Asa · OSL:BMA
Byggma Asa — Q3 2021 Earnings Presentation
30 slides from Byggma Asa's earnings presentation, Nov 4, 2021
Slide 1: Q3 2021 results
[Byggma at a glance] Q3 2021 results 4 November 2021 The Q&A session will be held on Microsoft Teams directly after the presentation. Please sign up for the Q&A by sending an email to our IR officer, ir@byggma.no, to receive invitation to Teams. 1
Slide 2: Todays presenter
Todays presenter Geir Drangsland CEO and shareholder 2
Slide 3: Company
BYGGMA Company group
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/
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
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
Slide 7: Financials
BYGGMA group Financials
Slide 8: P&L Summary
P&L Summary NOKm Q3 2021 Q3 2020 YTD 2021 YTD 2020 2020 Sales revenue 546.0 481.6 1,712.4 1,504.4 2,052.4 EBITDA 76.2 70.3 221.7 191.9 269.6 EBIT 55.6 50.9 160.9 134.5 192.6 Net financials (2.1) (4.8) (4.8) (34.1) (32.9) Profit before tax 53.4 46.2 156.0 100.4 159.7 Tax (11.6) (10.1) (34.0) (22.2) (
Slide 9: Consolidated balance sheet
Consolidated balance sheet Payment of dividend in Q2 is the main driver for the movement on cash and equity Growth in trade receivables, inventory and accounts payable due to increased sales and pruchase of goods Equity ratio of 31% as per 30 September 2021 9
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
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
Slide 12: Investment highlights
Investment highlights The leading Nordic provider of woodchip boards, decorative interior panels, wood fibre boards, MDF interior walls & ceiling panels, and I-Beams Market leading position Growing position in Europe and within adjacent product areas Sales agreements with all major building ma
Slide 13: Large potential from recent product innovations
Large potential from recent product innovations Walls2Paint Premium Ceiling Proff Vegg Smartpanel Wet Wall 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, wallp
Slide 14: Thank you
[Byggma at a glance] Thank you 4 November 2021 Please call in to the Q&A session on Microsoft Teams. 14
Slide 15: Appendix
BYGGMA group Appendix
Slide 16: 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
Slide 17: 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
Slide 18: 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
Slide 19: 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
Slide 20: Consolidated income statement
Consolidated income statement 20
Slide 21: Leading Nordic presence, with growing international customer base
Leading Nordic presence, with growing international customer base Production facilitites and offices Revenue by country (NOKm) 2 500 Production and distribution facilities Distribution and offices 2 052 2 000 74 16 45 1 Birkeland 1 784 71 6 72 1712 2 Braskereidfoss 1 655 84 1 620 16 45 83 3 Fredriks
Slide 22: 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% 12.9% 9.4% 12.8% 8.9% 2 300 margin 2 052 1 783 1 619 1 655 1 515 1 433 270 222 19388 192 143 161 119 135 65 73 2018 2019 2020 YTD 20 YTD 21 2015 2016 20
Slide 23: 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 continue going forward 77% This has allowed the company to invest significantly in product innovation in additio
Slide 24: Consolidated cash flow statement
Consolidated cash flow statement 24
Slide 25: 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
Slide 26: Byggma operates 8 high-end manufacturing and distribution facilities
Byggma operates 8 high-end manufacturing and distribution facilities Huntonit Eiendom AS Aneta Lighting AB 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 constru
Slide 27: Experienced management team and organization
Experienced management team and organization Organization by company Geir Drangsland Jens Unhammer CEO CFO 7 CEO in Byggma since 2009 and chairman from 2000-2009 CFO in Byggma since 2003 after joining as Finance Manager in 40 17 2000 43 Currently CEO of Investor AS, main shareholder in Byggma
Slide 28: 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
Slide 29: Key takeaways
Key takeaways Market leading position Robust underlying market Strong brands and product offering 1 Long history of profitable growth Attractive growth trajectory 29
Slide 30: [Byggma at a glance]
[Byggma at a glance] www.byggma.no 30