Slide 1: Q2 report 2018
Q2 report 2018 Jonas Wiström 17 August 2018
Slide 2: Highlights Q2
Highlights Q2 ▪ Positive sales development, +8% ▪ Improved profit − Reported EBITA increased from SEK 728m to SEK 798m ▪ Cashflow, SEK 870m (890) 2
Slide 3: Continued challenges in the company portfolio
Continued challenges in the company portfolio ▪ Improved profit in − HL Display − Aibel − Bisnode − Plantasjen − HENT (divestment of HENT Eiendomsinvest) ▪ Underperformers − Diab − EBITA-development, SEK -29m − Weak wind power segment − Weak efficiency − Kvdbil − TFS 3
Slide 4: Performance in the companies
Performance in the companies Q2 2018, SEKm, adjusted for the size of Ratos’s holdings EBITA, company portfolio 2018 Q2 2017 Q2 Change1) Aibel 37 20 83% airteam 13 12 4% Bisnode 75 62 21% Diab -16 13 - Gudrun Sjödén Group 6 7 -16% HENT 108 43 154% HL Display 32 11 198% Kvdbil 4 11 -66% Ledil 17 21 -2
Slide 5: Performance in the companies
Performance in the companies Q2 2018, SEKm, adjusted for the size of Ratos’s holdings SEKm Change1) Sales in the portfolio 6,456 +8% The portfolio’s EBITA 798 +10% Adjusted EBITA in the portfolio2) 764 +3% 1) Comparison with corresponding period last year and for comparable companies. 2) Excluding i
Slide 6: New financial targets
New financial targets Increase IRR>15% profit each Leverage < 2.5x Total share return year should outperform index The earnings of the A conservative leverage Total return of the Ratos company portfolio in the portfolio companies share should over time should increase each with an aggregated debt ou
Slide 7: Continue to focus on current portfolio
Continue to focus on current portfolio Focus on the current portfolio until our profit trend is positive Ratos priority Underperforming companies 3 Growth Action list on underperforming companies Organic and acquisitions − Governance 2 − Management Profitability − Indirect costs, gross-margin and or
Slide 8: Summary Q2
Summary Q2 ▪ Aibel, final contract signed with Equinor, 8 bn NOK. Total order intake 10 bn NOK ▪ Capital Markets Day 2018 − New financial targets − Focus areas going forward − Criteria for long term holdings and new investments ▪ Improved EBITA and sales ▪ Challenges remain in the company portfolio
Slide 9: Q&A
Q&A RATaS