Slide 1: Q1 Report 2024
An entrepreneurial world where people make the difference Bo Annvik, President and CEO Q1 Report 2024 Patrik Johnson, CFO 25 April 2024
Slide 2: Highlights first quarter 2024
Highlights first quarter 2024 ▪ Stable order intake – growth of 0% in total, whereof -3% organically. Net Sales ‒ Good demand in Medical technology & Pharmaceutical, Energy and Process Industry. ▪ Net sales -4%, organically -6% due to strong references and 7.7BSEK fewer working days. ▪ EBITA margin
Slide 3: Stable demand and order backlog build up
Stable demand and order backlog build up Order intake Net Sales MSEK MSEK 9,000 30% 9,000 30% 8,000 25% 8,000 25% 20% 20% 7,000 7,000 15% 15% 6,000 6,000 10% 10% 5,000 5,000 5% 5% 4,000 4,000 0% 0% 3,000 -5% 3,000 -5% 2,000 -10% 2,000 -10% 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 Q Order in
Slide 4: YoY organic Sales Growth – major countries
YoY organic Sales Growth – major countries Nordics Rest of Europe Rest of the world Sweden Benelux North America Denmark UK/Ireland Asia Finland Germany Norway Switzerland & Austria Total Nordics Total Rest of Europe Total Rest of the world 4
Slide 5: EBITA impacted by weaker sales
EBITA impacted by weaker sales EBITA & EBITA margin Quarterly growth MSEK Q growth 1,400 16% 5% 1,200 15% 3% 0% 0% 0% 1,000 14% 13% -5% 800 12% 600 11% -10% 400 10% -15% 200 9% -19% 0 8% -20% 2020 2021 2022 2023 2024 Organic Acquisitions Divestments Currency Q EBITA Q EBITA margin Q1-24 MARGIN Q GRO
Slide 6: New Group structure for future growth
New Group structure for future growth Moving from a geographic and product-based structure to a market and customer-based structure Infrastructure & Technology & Systems Industrial & Engineering Life Science Process, Energy & Water Construction Solutions Net sales 2023 Net sales 2023 Net sales 2023
Slide 7: Net Sales by Business Area
Net Sales by Business Area Total growth: -2% -15% -8% +3% +2% ▪ Fewer working days and strong references impact all Business Areas 2% 0% 1% ▪ Continued positive market supports organic development for Business Area Process, -2% Energy and Water Q organic growth -4% -5% -5% ▪ A weaker general enginee
Slide 8: EBITA margin by Business Area
EBITA margin by Business Area EBITA margin development ▪ All Business Areas impacted by the weak organic sales development 20% ▪ Business Area Life Science had the most challenging 15.9% references 15.1% 15.6% 15% 14.4% ▪ Somewhat higher gross margins but slightly Q EBITA margin higher expenses in m
Slide 9: Good acquisition pace!
Good acquisition pace! Acquisitions 2024 Business Area Annual Sales pure! GmbH Industrial & Engineering 110 MSEK SDT Scandinavian Drive Technologies AB Industrial & Engineering 55 MSEK Q1 MeHow Medical Ireland Ltd. Life Science 160 MSEK Atline ApS Life Science 60 MSEK Hemomatik AB Technology & Syste
Slide 10: Successful acquisition track record
Successful acquisition track record No. of acquired companies per year Quarterly financial effects acquisitions* 18 100 25% 16 90 14 80 20% 70 12 EBITA (MSEK) EBITA margin 60 15% 10 50 8 40 10% 6 30 4 20 5% 2 10 0 0 0% No. of acquired companies No. of acquired companies (3 yr avg) Acquired EBITA Acq
Slide 11: Key data summary
Key data summary MSEK 2024-Q1 2023-Q1 Change Order Intake 8,037 8,076 0% Net Sales 7,744 8,063 -4% Gross margin, % 35.0 34.6 EBITA 1,033 1,225 -16% EBITA-margin, % 13.3 15.2 Net financial items -115 -98 17% Tax -177 -229 -23% Earnings per share (before dilution), SEK 1.61 2.06 -22% Return On Capital
Slide 12: Cash Flow from operating activities
Cash Flow from operating activities Cash Flow development ▪ Operating cash flow during the quarter MSEK decreased to 487 (632) MSEK, driven 1,600 by the lower result 1,400 ▪ Cash Flow seasonally low in Q1 1,200 1,000 ▪ Inventories (organic) basically unchanged since year end 800 600 ▪ The working ca
Slide 13: Earnings per share
Earnings per share EPS development ▪ EPS decreased 22% in the quarter to SEK SEK SEK 1.61 (2.06) per share 2.5 9 8 ▪ The decline was mainly driven the 2.0 7 lower operational result 6 ▪ 3- and 5-year rolling 4Q earnings per 1.5 5 share CAGR, were 16% and 14% 4 1.0 3 0.5 2 1 0.0 0 2020 2021 2022 2023
Slide 14: Strong financial position
Strong financial position Net debt development ▪ The interest-bearing net debt MSEK decreased versus last year to 8,474 12,000 100% (9,390) MSEK, driven by strong cash 90% 10,000 flow last year 80% 8,000 70% ▪ Seasonally low cash flow in Q1 in 60% combination with good acquisition 6,000 50% pace inc
Slide 15: Key takeaways
Key takeaways ▪ Stable demand in a challenging quarter – positive Book- to-Bill two quarters in a row ▪ Companies in better market situations continue to pursue growth initiatives, while companies with declining order intake are actively working on cost reductions. ▪ The uncertainty around the gener
Slide 16: Thank you!
Thank you! Indutrade
Slide 17: Financial calendar & contact details
Financial calendar & contact details Interim Report Q2 2024 Interim Report Q3 2024 Year-end Report 2024 Contact: ir@indutrade.com +46 8 703 03 00
Slide 18: Trusted by entrepreneurs
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