Nordisk Bergteknik Ab Class B · OMXSTO:NORB_B
Nordisk Bergteknik Ab Class B — Q1 2025 Earnings Presentation
22 slides from Nordisk Bergteknik Ab Class B's earnings presentation, May 6, 2025
Slide 1: Nordisk Bergteknik Q1
May 6, 2025 Nordisk Bergteknik Q1
Slide 2: Table of contents
Table of contents Nordisk Bergteknik at a glance Financial targets and strategy to get there This is Nordisk Bergteknik Predicted continued growth Diversified project portfolio to lower risks Financial targets and dividend policy Operational synergies lead to attractive offering and high entry barri
Slide 3: This is Nordisk Bergteknik
This is Nordisk Bergteknik Was there a better way of building modern, sustainable SECTORS societies? We believed so. We also considered that a more Infrastructure, energy, real estate, mining consolidated market for rock and foundation solutions was part of the answer. So, in 2016, Nordisk Bergtekni
Slide 4: Leading the market in rock and foundation solutions
Leading the market in rock and foundation solutions 119m 1,143 FOUNDED IN 2016 SEK ADJ. EBIT Q1 2025 LTM # OF EMPLOYEES SEK 3,381m 3.5% 20 SALES Q1 2025 LTM ADJ. EBIT MARGIN Q1 2025 LTM OPERATING SUBSIDIARIES
Slide 5: Areas for our services and solutions
Areas for our services and solutions Rock Rock and concrete Drilling Rock excavation Prospecting, excavation and Excavation of rock, mainly reinforcement reinforcement through blasting Maintenance of rock and concrete constructions Foundation Foundation Foundation work Sheet piling Ensuring a stable
Slide 6: Attractive business mix
Attractive business mix REVENUE BY SEGMENT, LTM Q1 2025 EBIT PER SEGMENT, LTM Q1 2025 24% 5% 51% Rock Rock Rock Norway Sweden Norway 94% 1% Rock Sweden Foundation Sweden 25% Foundation Sweden
Slide 7: Diversified project portfolio lowers the risk level
Diversified project portfolio lowers the risk level High revenue diversification and few projects with fixed price Few large projects spread Mining and prospect Direct exposure to No. of projects yearly over several years account drilling becoming an construction of new to less than increased part o
Slide 8: Operational synergies lead to attractive offering and barriers to entry
Operational synergies lead to attractive offering and barriers to entry Synergies Barriers to entry • Knowledge sharing • Economies of scale • Flexible resource and machine • Strong market position and allocation track record • Centralised sourcing of raw • Highly experienced employees materials and
Slide 9: Interim Report Q1
Interim Report Q1 A satisfactory start to the year in the current market climate
Slide 10: Financial performance (1/2)
Financial performance (1/2) 1000 912 20,0% 900 828 January - March 800 751 700 • Net sales increased by 10% and amounted to SEK 828m (751). 600 500 • Organic growth amounted to 11% (-21)%. 400 • Adjusted EBIT margin amounted to 2.5 (3.2)%. 300 5.6% 200 3.2% 2.5% 100 0 0,0% Comments Q1 2023 Q1 2024 Q
Slide 11: Financial performance (2/2)
Financial performance (2/2) Financials 95 • Adjusted cash flow from operating activities amounted to SEK -27m (52) during Q1. 52 Cash flow from operating activities was negative as we had significant capital tied up at the end of the quarter, primarily as a result of project starts Q1 2025 within Ro
Slide 12: Performance per segment – Rock Sweden
Performance per segment – Rock Sweden SEKm 500 453 445 449 421 429 406 379 400 356 • Rock Sweden’s external net sales increased with 300 6% and organic growth amounted to 6%. 200 • The growth is mainly explained by a higher demand during the quarter compared to the 100 previous year. 0 Q2 23 Q3 23 Q
Slide 13: Performance per segment – Rock Norway
Performance per segment – Rock Norway SEKm 350 292 300 252 243 250 231 215 216 • Rock Norway’s external net sales decreased 200 164 with 4% and organic growth amounted to -2%, 157 150 primarily attributable to continued low market 100 activity. 50 • Continuing to restructure and consolidate the 0 No
Slide 14: Performance per segment – Foundation Sweden
Performance per segment – Foundation Sweden SEKm 300 224 241 250 228 210 182 194 189 • The external net sales during the first quarter 200 172 increased by 33% organically. The challenging 150 market with lower construction and related local 100 infrastructure has continued during the quarter, 50 bu
Slide 15: Sustainable financial outlook
Sustainable financial outlook NET SALES DEVELOPMENT ADJUSTED EBITDA DEVELOPMENT ADJUSTED EBIT DEVELOPMENT 25% -4% -7% 11% 3 526 493 485 244 SEKm 3 402 3 305 3 381 SEKm SEKm 451 446 25% 281 134 173 1 918 122 119 7.0% 7.2% 14.6% 14.5% 13.7% 13.6% 13.2% 4.9% 3.7% 3.5% 2021 2022 2023 2024 2025 Q1 2021 2
Slide 16: Net debt and leverage
Net debt and leverage DEBT RATIO (NET DEBT/EBITDA) • Net debt amounts to SEK 1,541m (1,614). 3,5 3,6 3,6 3,5 3,2 3,2 3,2 • Machine loans amounts to SEK 445m and lease liabilities to SEK 2,7 289m. 2,5 • Debt ratio (net debt/EBITDA LTM) amounts to 3.5x (3.5). • Cash and cash equivalents amounts to SEK
Slide 17: Nordisk Bergteknik’s environment
Nordisk Bergteknik’s environment • Continued strong demand for our services in infrastructure, mining/prospect drilling, operation and maintenance services as well as material handling services. Current trading • There is a significant underlying need for new infrastructure investments and probably
Slide 18: Strategy and financial targets
Strategy and financial targets
Slide 19: Predicted continued growth (1/2)
Predicted continued growth (1/2) 3 GEOGRAPHICAL EXPANSION Future • Add additional steps in value chain to offering • Both backward and forward integration is possible 1 4 EXECUTE ON EXPLOIT EXISTING M&A CURRENT PIPELINE CAPABILITIES • Continued M&A journey • Unique collaborations through disciplined
Slide 20: Predicted continued growth (2/2)
Predicted continued growth (2/2) Future Successful operations in a niche market • Limited competition in a niche market with high barriers to entry since operations requires a high level of expertise, specialized 4 EXECUTE ON EXISTING M&A PIPELINE equipment and machine capacity • Additional upside w
Slide 21: Financial targets and dividend policy
Financial targets and dividend policy 40% Dividend 15% policy Growth 7% Profitability <2,5x Capital structure Achieve annual net sales growth of The Group targets an adjusted The net debt in relation to adjusted Nordisk Bergteknik aims to distribute 40 more than 15 percent over a business EBIT-margi
Slide 22: Nordisk Bergteknik
“. NORDISK <_ BERGTEKNIK