Bergman & Beving Ab Class B · OMXSTO:BERG_B
Bergman & Beving Ab Class B — Q1 2024/2025 Earnings Presentation
17 slides from Bergman & Beving Ab Class B's earnings presentation, Jul 16, 2024
Slide 1: Interim Report 1 April – 30 June 2024
Interim Report 1 April – 30 June 2024 16 July 2024 Magnus Söderlind – CEO Peter Schön - CFO 1
Slide 2: Highlights First Quarter 2024/2025
HIGHLIGHTS First Quarter 2024/2025 Improved results, profitability and cash flows ❖ New division names mark our expanded acquisition strategy ❖ Acquisition ambition is unwavering ❖One acquisition in the first quarter - one after the period ❖ Revenue increased by 2% to MSEK 1,253 (1,228) ❖ Gross marg
Slide 3: Acquisitions
ACQUISITIONS Annual Revenue EBITA P/WC Division MSEK % % Industrial Q1 Maskinab Equipment 35 >15 >45 Core Q2 Spraylat Solutions 40 >15 >45 Total 75
Slide 4: 18 consecutive quarter with EBITA increase
18 CONSEQUTIVE QUARTER WITH EBITA INCREASE EBITA per quarter % MSEK 14 140 EBITA EBITA % 12 116 119 120 107 110 103 104 105 10 94 100❖ EBITA increased by 13 percent to MSEK 119 (105) 88 91 81 84 84 78 8 73 80 ❖ CAGR 30% EBITA 18 quarters 66 68 64 6 57 60 ❖ EBITA margin improved to 9.5 percent (8.6)
Slide 5: Focus on high margin businesses combined with a weaker underlying market
FOCUS ON HIGH MARGIN BUSINESSES COMBINED WITH A WEAKER UNDERLYING MARKET Revenue per quarter Quarterly Revenue Growth, % MSEK 1,300 Revenue R4Q/4 1,200 1,100 1,000 900 Currency Actual Organic Acquisitions 800 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 20/21 21/22 22/23 23/24 24/25 5
Slide 6: Improved gross margin
IMPROVED GROSS MARGIN Gross margin per quarter Revenue per type of products Rolling 12 months % 50 GM R12 Own Proprietary Products Other Products 48 46 32% 30% 28% 28% 44 42 40 38 36 68% 70% 72% 72% 34 32 30 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 31 Mar 31 Mar 31 Mar 30 Jun 20/21 21/22 2
Slide 7: Earnings per share
EARNINGS PER SHARE SEK EPS Q R12 8.00 7.00 6.00 5.00 4.00 3.00 1.90 1.90 2.00 2.05 2.05 1.90 1.95 1.95 2.00 1.80 1.80 1.70 1.80 1.70 1.50 1.45 1.60 1.60 1.00 0.00 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 20/21 21/22 22/23 23/24 24/25 7
Slide 8: Inventory
INVENTORY MSEK ITO 1,600 3.0 ❖ Inventory amounted to MSEK 1,127 Inventory R12 ITO (1,291) 1,500 ❖ Organic inventory reduction 1,400 (230 MSEK R12) 1,300 2.0 ❖ Covid Safety stock ❖ Decrease High volume low margin 1,200 business ❖ Improved product mix 1,100 1,000 1.0 ❖ ITO still not on “pre covid leve
Slide 9: Cash flow from operating activities
CASH FLOW FROM OPERATING ACTIVITIES MSEK 250 Cashflow R4Q/4 207 200 194 179 176 ❖ Cash flow from operating activities MSEK 194 (179) 150 142 145 ❖ Improved profitability 133 133 110 ❖ Reduced inventory levels 101 100 94 79 57 59 50 50 0 -25 -50 -36 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
Slide 10: Net debt
NET DEBT MSEK ND/EBITDA Operational Net Debt ND / EBITDA exkl IFRS 16 4.0 1,200 3.5 1,000 ❖ Operational net debt MSEK 962 (1,065) 3.0 ❖ Net Debt/EBITDA continues to decrease 800 2.5 ❖ Strong underlying cash flow 2.0 ❖ Acquisition target remains intact 600 1.5 400 1.0 200 0.5 0 0.0 Q1 Q2 Q3 Q4 Q1 Q2
Slide 11: Core Solutions (ex Building Materials)
Core Solutions (ex Building Materials) Demand effects ❖ Several companies faces a weaker demand including Essve ❖ Newly acquired Itaab and Elkington strong top line growth ❖ Acquired Spraylat July 1 ❖ Revenue MSEK 388 (393) ❖ EBITA MSEK 45 (50) ❖ EBITA margin 11.6 percent (12.7) MSEK Revenue R12 EBI
Slide 12: Safety Technology (ex Workplace Safety)
Safety Technology (ex Workplace Safety) On par with last year ❖ Five out of seven increase profits ❖ Skydda efficiency measures and product phase out have effects but underlying market slow ❖ Revenue increased by 3 percent to MSEK 416 (405) ❖ EBITA MSEK 34 (34) ❖ EBITA margin 8.2 percent (8.4) MSEK
Slide 13: Industrial Equipment (ex Tools & Consumables)
Industrial Equipment (ex Tools & Consumables) All-time-high result ❖ Nordic industry customers demand stabile but on a lower level ❖ The profit and margin improvement is primarily related to acquired companies ❖ Maskinab acquired April 1 ❖ Luna efficiency measures and product phase out have effects
Slide 14: Group targets "500/ten/45"
GROUP TARGETS 500 MSEK EBIT latest FY2526 COMBINED ANNUAL ”500/ten/45” 50-80 EARNINGS MSEK ACQUISITIONS PA EBIT- >10% margin latest FY2526 PERCENTAGE OWN 75% PRODUCTS 45% latest FY2526 P/ WC latest FY2627 DIVIDEND SHARE 30-50% NET PROFIT
Slide 15: How to reach '500/ten/45'
HOW TO REACH ‘500/ten/45’ WHAT WE ALWAYS DO ❖ Profit expansion over revenue expansion ❖ B&B Focus Model steering capital allocation ❖ Company-by-company strategy, goals and activities ❖ Group support – B&B Tool Box ❖ Acquisition of highly profitable B2B companies with leading position in expansive n
Slide 16: Contact Calendar
Contact Calendar Investor Relations 29 August 2024 Peter Schön Annual General Meeting 2024 +46 70 339 89 99 ir@bb.se 23 October 2024 Interim Report 1 April – 30 September 2024 16
Slide 17: Bergman Beving
BERGMAN BEVING
Bergman & Beving — Q1 2024/2025 Earnings Presentation on 6ix