Systemair Ab · OMXSTO:SYSR
Systemair Ab — Q3 2022/23 Earnings Presentation
19 slides from Systemair Ab's earnings presentation, 2022
Slide 1: Q3 report 2022-23
Q3 report 2022-23 Roland Kasper CEO, Anders Ulff CFO
Slide 2: Systemair at a glance
Established at HQ in Skinnskatteberg, Sweden 1974 Turnover NASDAQ Annual net sales in mill. OMX Nordic Exchange 960 EUR 2007 Number of countries Countries Number of Countries 21 with own sales employees exported to companies 52 Own prod. facilities, 6,900 135 total book value of SEK 1.3 bn. 2
Slide 3: Net sales Q3
Net sales Q3 Organic growth development, R12 % SEK million 25 3,043 20 2,278 2,004 15 10 % 5 Q3 2020/21 Q3 2021/22 Q3 2022/23 0 -5 33.6% 22.2% -10 Growth Organic growth Organic quarterly growth Organic growth R12 3
Slide 4: Growth analyze Q3
Growth analyze Q3 Organic 22.2% 5.1% 6.3% 33.6% • Good organic growth in Nordic region, Western Europe, America, Middle East and Asia. Acquisitions • Mainly impact from the acquisition of Sagicofim. Total Currency Acquisitions Organic Currency • Strengthened currencies, EUR/USD and CAD 4
Slide 5: Operating profit Q3
Operating profit Q3 • The gross margin increased to 34.2 percent (33.3) partly as a result of good capacity utilization. • The hyperinflation calculation in Turkey has affected the gross margin negatively by 0.6 percentage points or SEK 17.2 million. 277 • The operating result has been positively af
Slide 6: Profit after tax Q3
Profit after tax Q3 • Net financial items for the third quarter amounted to SEK -59.1 million (-2.3). • Currency effects on long-term receivables, 170 loans and bank balances amounted to a net of SEK -37.5 million (+4.7). • Interest expenses for the quarter amounted to 95 SEK -21.6 million (-7.0). 7
Slide 7: Cash flow analysis Q3
Cash flow analysis Q3 Q3 Q3 2022/23 2021/22 Cash flow from operating activities 274.6 142.3 Change in working capital 4.1 -115.5 Net investments, excl. acquisitions -33.8 -44.4 Free cash flow 244.9 -17.6 Net debts 2,617.0 1,864.6 • Decreased inventories -16 (+146) and trade receivables -139 (-102) h
Slide 8: Markets
Markets Other markets North America (12) Western Europe 13% (11) (42) Eastern Europe & Nordic region the CIS (15) 11% 45% (20) 12% 19% Eastern Europé and CIS 15 % (17) 8
Slide 9: Nordic
Nordic • Sales in the Nordic region increased by 18.4 percent during the third 19% quarter compared with the same period previous year. • Adjusted for the effects of foreign exchange and acquisitions, sales increased by 13.9 percent. Percentage of turnover • All markets and applications in the regio
Slide 10: Western Europe
Western Europe • Sales development on the Western European market continued to be 45% very strong during the quarter with an increase of 54.9 percent compared to the corresponding period last year. • Adjusted for foreign exchange effects and acquisitions, sales increased by 32.0 percent. Percentage
Slide 11: Systemair completes divestment of commercial air conditioning business to Panasonic
Systemair completes divestment of commercial air conditioning business to Panasonic The divested operations include Systemair S.r.l and Tecnair S.p.A. in Italy, Systemair AC SAS in France, as well as the air conditioning sales operations of Systemair GmbH in Germany. The operations' consolidated tur
Slide 12: Eastern Europe and CIS
Eastern Europe and CIS • Sales in Eastern Europe and the CIS decreased by 1.1 percent during the quarter. 12% • Adjusted for foreign exchange effects and acquisitions, sales decreased by 10.4 percent. Percentage of turnover • The reason for the negative growth is mainly the discontinued sales in Rus
Slide 13: North America
North America • Sales in North America increased by 29.7 percent during the quarter 11% compared with the same period last year. • Adjusted for foreign exchange effects and acquisitions, sales increased by 15.5 percent. Percentage of turnover • Both the American and the Canadian markets showed good
Slide 14: Middle East, Asia, Australia and Africa
Middle East, Asia, Australia and Africa • Sales in the Middle East, Asia, Australia and Africa increased by 38.4 13% percent compared with the same period last year. • Adjusted for currency effects and acquisitions, sales increased by 50.5 percent. Percentage of turnover • India, Turkey and Australi
Slide 15: Landmark project for Systemair India
Landmark project for Systemair India Systemair India has landed a prestigious order for the Indira Gandhi International Airport in New Delhi, India. Systemair India was chosen for delivering a solution to Terminal 1. Altogether Systemair India will supply 163 Air Handling Units, several ADP products
Slide 16: Systemair commits to setting science-based targets
Systemair commits to setting science-based targets Systemair takes another step to mitigate climate change and reduce greenhouse gas emissions, both from its own operations and throughout the value chain. Systemair has over the past years actively worked with reducing emissions from its own operatio
Slide 17: Sustainability reporting
Sustainability reporting Work-related injuries with sickness absence, LTIFR 30 23.9 25 20 17.2 16.8 15 11.9 10 • Quarterly reporting started Q2 5 0 2020/21 2021/22 2022/23, Q2 2022/23, Q3 • Continued decrease of work-related Percentage of female leaders injuries due to focused preventive work 26% 25
Slide 18: Capital Markets Day in January 2023
Capital Markets Day in January 2023 Selected growth opportunities The financial targets for growth, profitability, financial strength and dividend was presented together with the selected growth areas for the group. 18
Slide 19: Thank you, welcome with questions!
Thank you, welcome with questions! 19