Alimak Group Ab · OMXSTO:ALIG
Alimak Group Ab — Q1 2023 Earnings Presentation
23 slides from Alimak Group Ab's earnings presentation, May 3, 2023
Slide 1: Alimak Group Q1 2023
Alimak Group Q1 2023, 3 May 2023 Ole Kristian Jødahl, CEO Sylvain Grange, CFO
Slide 2: A very strong start to the year Q1
Business update – Q1 FOR INTERNAL USE ONLY A very strong start to the year Q1 ▪ High operational performance – Strong order intake and earnings in the quarter – Adjusted aggregated EBITA increased by 41%* – Adjusted EBITA-margin of 16.6% ▪ Wind division contributing positively ▪ Integration of Tract
Slide 3: Group quarterly summary Q1
Group quarterly summary Q1 Order intake & Revenue by Quarters ▪ Order intake was MSEK 1,870, +78% (+65% from acquisitions. +6% organically) – Strong organic growth in Industrial and Wind – Significant contribution from the Tractel acquisition ▪ Revenue was MSEK 1,745 +86% (67% from acquisitions. 12%
Slide 4: Facade Access Q1
Facade Access Q1 ▪ Order intake was MSEK 493, +86% Order intake & Revenue by Quarters Order intake & Revenue by R12M (+82% from acquisition. -3% organically) – Resilient order intake for both legacy Alimak and legacy Tractel – Service continues to contribute positively ▪ Revenue was MSEK 485, +67% (
Slide 5: Facade Access – business update
Facade Access – business update ▪ Tractel integration moving according to plan ▪ New organization in place under the leadership of Philippe Gastineau, former Tractel CEO ▪ Actions being developed and implemented to lift the margin going forward ▪ With the Tractel acquisition, we now have a leading m
Slide 6: Construction Q1
Construction Q1 ▪ Order intake was MSEK 469, Order intake & Revenue by Quarters Order intake & Revenue by R12M +46% (+44% from acquisitions. -4% organically) – Demand for new equipment was lower – Strong rental and service order intake ▪ Revenue was MSEK 467, +73% (+46% from acquisitions. +20% organ
Slide 7: Construction – business update
Construction – business update ▪ Positive growth contribution from the acquisitions of Tractel and Tall Crane ▪ Another significant order received for our logistics solution “Common Tower” ▪ Higher interest rates and material pricing affects development in construction especially residential, howeve
Slide 8: New product launch
New product launch ▪ All-new Alimak Scando 650a series – sets a new standard in the construction industry ▪ One of the most sustainable hoists available - 97.5% of materials can be fully recycled ▪ Designed for longevity and a low total cost of ownership ▪ 33% lighter hoist car up to 28% reduced env
Slide 9: Launch of customer portal “My Alimak”
Launch of customer portal “My Alimak” ▪ Web-based portal that provides vital performance insights to enhance productivity and safety ▪ Creates additional customer value and lower environmental impact ▪ Recently awarded the "Best Digital Development Award" at IAPA in Berlin, hosted by The Internation
Slide 10: Height Safety & Productivity Solutions Q1
Height Safety & Productivity Solutions Q1 Order intake & Revenue by Quarters Order intake & Revenue by R12M ▪ Order intake was MSEK 329 – Aggregated figures for Q1 2022 represents an overall increase of 7% ▪ Revenue was MSEK 362 – Aggregated figures for Q1 2022 represents an increase of 19% ▪ EBITA
Slide 11: Height Safety & Productivity Solutions – business update
Height Safety & Productivity Solutions – business update ▪ New organisation in place under the leadership of Philippe Gastineau, former Tractel CEO ▪ Continued effort on product innovation and sales effectiveness – Dynasafe Mecha 7 – mechanical load limiter for making lift operations safer and more
Slide 12: Industrial Q1
Industrial Q1 ▪ Order intake was MSEK 372, +10% Order intake & Revenue by Quarters Order intake & Revenue by R12M (+5% organically) – Solid order intake for both new equipment and service – Especially strong development in the marine, energy and mining segments for new equipment ▪ Revenue was MSEK 3
Slide 13: Industrial – business update Q1
Industrial – business update Q1 ▪ Change in leadership ▪ The quarterly results, from order intake to EBITA is a result of the past year’s strategic activities with dedicated and focused organisation and the enhanced regional setup ▪ Focus on product development and package solutions, including servi
Slide 14: Wind Q1
Wind Q1 Order intake & Revenue by Quarters Order intake & Revenue by R12M ▪ Order intake was MSEK 208, +62% (+50% organically) – Strong order intake – Positive impact from US Inflation Reduction Act and our “China for China” strategy ▪ Revenue was MSEK 151, +11% (+4% organically) EBITA & EBITA margi
Slide 15: Wind – business update Q1
Wind – business update Q1 ▪ US Inflation Reduction Act (IRA) has started to increase investments in the wind sector ▪ Net Zero Industry Act in the EU, if enacted, is expected to generate similar effects ▪ Gradual improvements expected for the division during 2023 and further increase in demand from
Slide 16: Financial summary Q1
Financial summary Q1 MSEK Q1 2023 Q1 2022 D% Order intake 1 870 1 053 78 Organic order growth 6 Revenue 1 745 936 86 Organic revenue growth 12 EBITA adj 289 107 169 EBITA adj % 16.6 11.5 +5.1 pp EBITA 286 107 167 EBITA% 16.4 11.5 +4.9 pp Operating cash flow 108 36 198 16
Slide 17: Earnings summary Q1
Earnings summary Q1 ▪ EBITA adj. – Margin improved vs. last year, mainly due to increased revenues, operational MSEK Q1 2023 Q1 2022 DMSEK improvements and contribution EBITA adj 289 107 182 from the Tractel acquisition – Gross margin kept on a high level Items affecting through active price managem
Slide 18: Result for the period and EPS Q1
Result for the period and EPS Q1 ▪ Result for the period was MSEK 124 Result for the period and EPS (70) MSEK SEK ▪ Adjusted for items affecting 140 1,81 1,72 2,00 1,80 120 1,38 comparability (IAC): MSEK 127 (70) 100 0,98 1,08 1,60 1,40 80 1,20 1,00 ▪ Earnings per share was SEK 1.72 60 40 0,80 0,60
Slide 19: Cash flow Q1
Cash flow Q1 ▪ Cash flow from operations MSEK 108 (36) Operating Cash flow, MSEK by quarter – Impact of higher interest and tax outflows 19
Slide 20: Net debt Q1
Net debt Q1 ▪ Net debt Net debt, MSEK and Leverage by Quarter – Decreased mostly due to the BSEK 2,5 rights issue MSEK 7 000 10 ▪ Leverage down to 3.72 in Q1, 2.87 when 6 000 8,00 8 factoring R12 months of Tractel EBITDA 5 000 6 4 000 3,72 ▪ Capital allocation priorities remains: 3 000 4 – Short ter
Slide 21: Balance Sheet Q1
Balance Sheet Q1 Balance Sheet ▪ Balance Sheet impact of Amounts in MSEK Q1 2023 Q1 2022 Goodwill 5 963 2 397 acquisitions Other intangible assets 2 738 559 – Goodwill and other intangible Tangible assets 949 524 assets Financial and other non-current assets 399 289 – Equity (including effect of rig
Slide 22: Summary Q1
Summary Q1 ▪ Strong operational performance ▪ Significant contribution from the Tractel acquisition ▪ Integration of Tractel and Tall Crane develops well and according to plan ▪ Continued product and service development in line with increased customers focus in the New Heights Program ▪ Updated divi
Slide 23: Q&A
Q&A