Slide 1: Consti Plc Interim Report 1 January – 30 September 2024
CONSTI PLC INTERIM REPORT 1 JANUARY – 30 SEPTEMBER 2024 CEO Esa Korkeela CFO Anders Löfman
Slide 2: Contents
CONTENTS 1. Highlights and Group performance 2. Cash flow and financial position 3. Market outlook, guidance and summary 4. Appendix 1 25 October 2024 Consti Plc / Interim Report 1-9/2024
Slide 3: Highlights of Q3/2024 and 1-9/2024
Highlights of Q3/2024 and 1-9/2024 Solid performance continued, order backlog at a good level NET SALES: EBIT: FREE CASH FLOW: EUR 86.0m EUR EUR 3.4m EUR EUR 1.7m EUR Q3/2024 -0.1m Q3/2024 -1.9m Q3/2024 -7.9m EUR -3.8m 1-9/2024 EUR -1.4m 1-9/2024 EUR -5.4m 1-9/2024 EUR 234.4m EUR 6.6m EUR 2.4m EUR E
Slide 4: Quarterly performance overview
Quarterly performance overview Order intake and order backlog grew year-on-year, Q3 net sales decreased 4.3% year-on-year QUARTERLY NET SALES (EUR m) QUARTERLY ORDER INTAKE (EUR m) QUARTERLY ORDER BACKLOG (EUR m) FY’22 NET FY’23 NET FY’22 ORD. FY’23 ORD. SALES: SALES: INTAKE: INTAKE: 297,9 EUR 305.2
Slide 5: Quarterly net sales development
Quarterly net sales development Q3 net sales amounted to EUR 86.0m Quarterly net sales development Q1/2022 – Q3/2024 (EUR m) Comments ■ Q3/2024 net sales EUR 86.0m (89.9m) 115 – Year-on-year change -4.3% 93,3 89,9 – Net sales grew strongly in Building Technology (34.5%) 95 86,1 82,9 86,0 business ar
Slide 6: Quarterly EBIT development
Quarterly EBIT development Solid performance continued Quarterly EBIT development Q1/2022 – Q3/2024 (EUR m) Comments 8 8% ■ Q3/2024 EBIT amounted to EUR 3.4 (4.8) million, or FY’22 EBIT: FY’23 EBIT: EUR +11.4m EUR +12.3m 3.9% (5.3%) of net sales 7 7% – Q3 proceeded in line with our expectations, wit
Slide 7: Quarterly order intake development
Quarterly order intake development Q3/2024 order intake EUR 64.8 million (23.2m), growing 178.8% year-on-year Quarterly order intake development Q1/2022 – Q3/2024 (EUR m) Comments ■ Q3/2024 order intake EUR 64.8m (23.2m) – Year-on-year growth 178.8% 109,1 106,5 100 – Intensified competition and weak
Slide 8: Quarterly order backlog development
Quarterly order backlog development Q3/2024 order backlog at EUR 250.4 million, up by 1.3% y-o-y Quarterly order backlog development Q1/2022 – Q3/2024 (EUR m) Comments 350 ■ Q3/2024 order backlog at EUR 250.4m (247.3m) – Year-on-year growth +1.3% 300 – In absolute and relative terms, a slightly smal
Slide 9: Number of personnel and other HR KPIs
Number of personnel and other HR KPIs Positive trend in personnel turnover, absence rate as well as in accident rate. Consti employed 1,054 (973) professionals at quarter-end, personnel grew by ~30% in Building Technology Average number of personnel Permanent personnel turnover ratio Accident rate /
Slide 10: Contents
CONTENTS 1. Highlights and Group performance 2. Cash flow and financial position 3. Market outlook, guidance and summary 4. Appendix 9 25 October 2024 Consti Plc / Interim Report 1-9/2024
Slide 11: Quarterly free cash flow development
Quarterly free cash flow development Q3 2024 free cash flow EUR 1.7 million (7.1m) Quarterly free cash flow1) and EBITDA Q1/2022 – Q3/2024 (EUR m) Comments 25 ■ Q3/2024 free cash flow EUR 1.7m (7.1m) – EBITDA amounted to EUR 4.4m (5.7m) Free cash flow and EBITDA (EUR million) 20 – Cash flow impact f
Slide 12: Quarterly net working capital development
Quarterly net working capital development Net working capital at EUR -10.8 million at the end of Q3/2024 Quarterly net working capital1) Q1/2022 – Q3/2024 (EUR m) Comments Q2/22 Q1/22 Q3/22 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 ■ Net working capital EUR -10.8m (-21.4m) at the end of Q3/202
Slide 13: Quarterly balance sheet structure
Quarterly balance sheet structure Financial position remained at a good level at the quarter-end Quarterly net debt development (EUR m) Quarterly equity ratio and gearing development Comments Q1/2022 – Q3/2024 Q1/2022 – Q3/2024 30 100% ■ Q3/2024 net debt at EUR 3.1m (-2.7m), of which EUR 3.8m (3.6m)
Slide 14: Maturity distribution of interest-bearing debt (30 September 2024)
Maturity distribution of interest-bearing debt (30 September 2024) Gross interest-bearing debt (excl. IFRS 16) EUR 13.8m at quarter-end, decrease of EUR 2.1m y-o-y Maturity profile of interest-bearing debt1) as per 30 September 2024 (EUR m) Comments 30 ■ Consti’s gross interest-bearing debt at EUR 1
Slide 15: Reported ROI and Consti ROCE
Reported ROI1) and Consti ROCE2) Return on capital continues to be on a good level Reported ROI1) and Consti ROCE2) Q4/2020 – Q3/2024 (%) Comments 35,3 % 40% ■ In financial years 2020-2023, Consti’s return on 33,0 % capital employed has exceeded 20% 31,6 % 30,8 % 30,0 % 35% 29,3 % 27,8 % ■ Q3 2024 C
Slide 16: Contents
CONTENTS 1. Highlights and Group performance 2. Cash flow and financial position 3. Market outlook, guidance and summary 4. Appendix 15 25 October 2024 Consti Plc / Interim Report 1-9/2024
Slide 17: Economic sentiment and construction confidence in Finland below long-term average
Economic sentiment and construction confidence in Finland clearly below their long-term average levels Economic Sentiment and Construction Confidence / Finland (2007 – 9/2024) Comments 150 ■ Negative development in the Economic Economic Sentiment Indicator Sentiment Indicator (ESI) since 2022 140 ES
Slide 18: Renovation volume projected to decline by 4% and new housebuilding by 26%
Renovation volume is projected to decline by 4% and new housebuilding volume by 26% in 2024. In 2025 renovation volume is projected to grow by 1% and new housebuilding volume by 15% (CFCI) Finnish new building and renovation market development 2008–2026 (Euroconstruct) Comments EUR b Renovation volu
Slide 19: Demand outlook weakened by high construction costs and interest rates
The demand outlook for construction weakened by persistently high construction costs and interest rates as well as tighter availability of financing Persistently high Interest rate level construction costs 120 5 +17% Substantial tightening of 118 +3% banks’ credit standards 4 116 for loans or credit
Slide 20: Outlook and guidance for 2024
Outlook and guidance for 2024 ■ In 2024, the Finnish house construction volume is estimated to decrease by approximately 8 percent from the previous year. New construction is predicted to decline by approximately 12 percent and renovation by 4 percent in 2024. ■ Consti anticipates a decline in deman
Slide 21: Summary
Summary 1. Solid performance continued, order backlog at a good level Operationally, Q3 proceeded as expected, with projects progressing predominantly as planned. Profitability 2. remained stable excl. the gain from the sale of property-related relining business in the comparison period. 3. Total am
Slide 22: Contents
CONTENTS 1. Highlights and Group performance 2. Cash flow and financial position 3. Market outlook, guidance and summary 4. Appendix 21 25 October 2024 Consti Plc / Interim Report 1-9/2024
Slide 23: Consti's strategic focus areas
To realise its vision and goals, Consti has defined the following strategic focus areas: •1 Growth in construction Profitable development of current business, expansion in the construction value chain, capitalising on attractive opportunities in new construction, strengthening special expertise •2
Slide 24: Consti's solutions to improve energy efficiency of buildings
Consti’s solutions to improve energy efficiency of buildings and to help customers to achieve their climate goals Consti OPTIMI VODAVOL Energy solutions for housing companies Building technology system Facade solution ENERGY SOLUTION OF THE YEAR 2022 • Reduces total energy consumption by up to 50% •
Slide 25: Consti as an investment - Key investment highlights
Consti as an investment - Key investment highlights ■ Steadily improving profitability ■ Aging building stock driving need-based renovation ■ Solid platform for future growth ■ Climate change and energy efficiency requirements ■ Asset-light business model with negative working Financial ■ Urbanisati
Slide 26: Interim Report 1-9/2024 Consti Plc
INTERIM REPORT 1-9/2024 CONSTI PLC Q3 CONSTI PLC VALIMOTIE 16 FI-00380, HELSINKI BUSINESS ID 2203605-05 WWW.CONSTI.FI 25 26 April 2019 Consti Group Plc / Interim Report 1-3/2019