Balco Group Ab · OMXSTO:BALCO
Balco Group Ab — Q2 2021 Earnings Presentation
20 slides from Balco Group Ab's earnings presentation, Aug 18, 2021
Slide 1: Q2 report 1 April – 30 June 2021
Q2 report 1 April – 30 June 2021 18 August 2021 Kenneth Lundahl CEO Michael Grindborn, CFO 1
Slide 2: Snapshot of Balco
Snapshot of Balco The leading provider of complete glazed balcony systems in the Nordics Geographic overview • +30 years in the market for balcony systems • Provider of the leading glazed balcony systems in the market: - one-stop shop, inhouse expertise, own development and production - own sales fo
Slide 3: Q2 – Best order intake so far in a quarter
Q2 – Best order intake so far in a quarter 1 Relief in Covid-19 restrictions during the latter part of the second quarter has led to a sharp increase in order intake - Order intake 66 percent higher than sales and 82 higher than Q2 last year - Order backlog increased by 267 MSEK in the quarter Net s
Slide 4: Q2 financial highlights
Q2 financial highlights Best order intake so far in a quarter, 66% higher than revenue • Net sales amounted to 304 MSEK (352) Net sales • Renovation accounted for 88% of sales and New Build for 12% • Order intake was 66% higher than net sales and increased 82% to 505 MSEK (278). The order intake was
Slide 5: Q2 – Best order intake so far in a quarter
Q2 – Best order intake so far in a quarter Order intake Order backlog MSEK MSEK -5% 82% 505 1 469 1 394 278 2020 Q2 2021 Q2 2020 Q2 2021 Q2 Revenue Operating profit MSEK MSEK -14% -36% 49 352 304 34 2020 Q2 2021 Q2 2020 Q2 2021 Q2 5
Slide 6: Q2 – development per business segment
Q2 – development per business segment Renovation segment – strong order intake Order intake Order backlog MSEK MSEK -4% 75% 1 210 1 161 476 273 2020 Q2 2021 Q2 2020 Q2 2021 Q2 Revenue Operating profit MSEK MSEK -18% -39% 325 50 267 31 2020 Q2 2021 Q2 2020 Q2 2021 Q2 6
Slide 7: Q2 – development per business segment
Q2 – development per business segment New Build – increased sales from Maritime and Stora Fasad Order intake Order backlog MSEK MSEK 16% 461% 233 29 202 5 2020 Q2 2021 Q2 2020 Q2 2021 Q2 Revenue Operating profit MSEK MSEK 38% 37% 36 4 26 3 2020 Q2 2021 Q2 2020 Q2 2021 Q2 7
Slide 8: 6M financial highlights
6M financial highlights Order intake 39 percent higher than revenue • Net sales amounted to 554 (673) Net sales • Renovation accounted for 84% of sales and New Build for 16% • Order intake increased by 24% to 768 MSEK (618) Order intake • The Renovation segment accounted for 94% of the order intake
Slide 9: 6M – Order intake 24 percent growth and 39 percent higher than revenue
6M – Order intake 24 percent growth and 39 percent higher than revenue Order intake Revenue MSEK MSEK -18% 24% 768 673 618 554 2020 6M 2021 6M 2020 6M 2021 6M Operating profit EPS MSEK SEK -33% -33% 84 2,87 56 1,93 2020 6M 2021 6M 2020 6M 2021 6M 9
Slide 10: 6M - revenue and earnings per business segment
6M - revenue and earnings per business segment Renovation – net sales and profit effected by Covid-19 New Build – net sales growth with stable operating margin Revenue Revenue MSEK MSEK 34% -23% 88 607 66 466 2020 6M 2021 6M 2020 6M 2021 6M Operating profit Operating profit MSEK MSEK -41% 34% 82 7 6
Slide 11: Strong financial position
Strong financial position Equity ratio and balance sheet strong, prepared for more acquisitions Equity/asset ratio • Equity/asset ratio at 51,0% (47.5) • Net debt/EBITDA at 1.3x (0.5) Net debt/EBITDA • Net debt (excl. leasing)/EBITDA at 1.0x (0.3) • Profit after tax 42 MSEK (62) for the half-year pe
Slide 12: Financial targets
Financial targets BALCO FIGURES Q2 2021, R12 REVENUE GROWTH GROWTH “Balco shall achieve growth of 10% per year” -17% adj. EBIT MARGIN PROFITABILITY “Balco shall achieve an operating profit margin (EBIT) of at least 13 percent. 9.9% NET DEBT/ adj. EBITDA CAPITAL “Interest-bearing net debt shall not e
Slide 13: Sustainability initiatives
Sustainability initiatives • Materials and construction last for at least 90 years and are fully Lifetime 90 years recyclable thereafter only need two minor services • Balco city balconies last for over 70 years Energy savings and • Energy savings of 15-30% depending on product and conditions reduce
Slide 14: " OTA iy __ i Be
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Slide 15: Financial appendix
Financial appendix 15
Slide 16: Consolidated income statement
Consolidated income statement 16
Slide 17: Consolidated balance sheet
Consolidated balance sheet 17
Slide 18: Consolidated cash flow statement
Consolidated cash flow statement 18
Slide 19: Key ratios
Key ratios AprJun JanJun Jul-Jun Jan-Dec MSEK 2021-2020 = 2021 ~—= 2020 2020/21 +~—=—-2020 Net sales 3035 3517 5540 672.9 1081,1 12000 Order intake 5051 277,7 «= 768,2« 18,3. 1082,7 «92,7 Order backlog 13044 14688 13944 14688 13944 10866 Gross profit 81,9 944 145.2 1748 += 259.7 289,4 EBITDA 16 58,9
Slide 20: Segments financials
Segments financials AprJun JanJun Jul-Jun Jan-Dec Net sales, MSEK 2021 2020, = -2021-~—= 2020 «2020/21 +~—=2020 Renovation 267.3 © 325,5 466,1 607,1 + 954,7 ~—«1:095,7 New Buid 36,2 26,3 87,9 65,8 126,4 104,3 Group other 58 36 11,6 9,2 238 213 Elimination 58 3.6 11,6 92-238 213 Total Net Sales 303,5