Instalco Ab · OMXSTO:INSTAL
Instalco Ab — Q1 2021 Earnings Presentation
18 slides from Instalco Ab's earnings presentation, May 6, 2021
Slide 1: Instalco Q1 presentation
Instalco Q1 presentation 6 May 2021 1
Slide 2: This is Instalco
This is Instalco • A leading Nordic installation group within heating and plumbing, electrical, ventilation, cooling, industry and technical consulting • 90 subsidiaries – highly specialised local companies • 4 000 employees • Highly decentralised structure • Supported by a small central organisatio
Slide 3: Key financials, LTM
Key financials, LTM Net sales, million SEK Order backlog, million SEK 7.388 6.708 Adjusted EBITA, million SEK Adjusted EBITA margin, % 648 8,8 No of employees (30 March) Acquired annual sales, million SEK 3,993 1.535 3
Slide 4: Q1 2021 Highlights
Q1 2021 Highlights • Stable quarter Key financials Q1 2021 • Net sales growth 15.9% Net sales 1,942 • Strong cash flow, SEK 164 million • Segment Sweden strong – segment Rest SEK million of Nordic weak • Disturbances caused by the pandemic – Adjusted EBITA 154 especially in Norway and Finland • Five
Slide 5: Changes in the management team
Changes in the management team 5
Slide 6: Net sales
Net sales • Net sales growth (SEK million) 18,1% -1,2% -1,0% 6
Slide 7: EBITA
EBITA 250 10% 9% • Adj. EBITA (SEK million) and adj. EBITA margin (%) 200 8% 7% 150 6% 5% 100 4% 3% 50 2% 1% 0 0% Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Adjusted EBITA Adjusted EBITA margin 7
Slide 8: Order backlog
Order backlog 8000 • Growth of 28.6% (compared 7000 with Q1 2020) 6000 • Continued stable order backlog ratio of 0.91x (relative 5000 to 12 months rolling net sales) 4000 3000 2000 1000 0 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021
Slide 9: Segment development - Sweden
Segment development - Sweden • Strong and solid results by the Swedish Key financials Q1 2021 operations Net sales • Stable demand for technical installations • Organic growth 2.9% • Net sales growth 21.3% SEK 1,529 million • Order backlog growth of 33.4% whereof EBITA EBITA margin 136 8.9 18.6% in
Slide 10: Segment development – Rest of Nordic
Segment development – Rest of Nordic • Order backlog growth of 10.5% Key financials Q1 2021 • Weak result - mainly due to Corona Net sales pandemic • Continued work with action plan for higher margins SEK 413 million EBITA EBITA margin SEK 8 million 2.0 % Order backlog SEK 1,328 million 10
Slide 11: Acquisitions 2021
Acquisitions 2021 Acquisition Discipline Segment Estimated yearly sales (SEKm) Acquired JB Elektro AS Electrical Rest of Nordic 40 Q1 Lincom AB Electrical Sweden 33 Q1 Nässjö Teknikprojektering AB Technical consulting Sweden 15 Q1 Stockholm Luftkompetens AB Ventilation Sweden 85 Q1 Kempes El AB Elec
Slide 12: Examples of acquired companies in Q1
Examples of acquired companies in Q1 JB Elektro, Tromsö, Norway Kempes El, Kramfors, Sweden • First company in northernmost region of • 90 years old electrical company Norway • Strengthen our position along the north- • Specialist in road lightning east coast of Sweden • Future plans for fishing ind
Slide 13: Financial targets and dividend policy
Financial targets and dividend policy Area Target Comment Status • Average sales growth should be at least 10% per year over a Growth business cycle 15.9% YTD, 20,1% LTM • Growth will take place both organically and through acquisitions Margin • Instalco aims to deliver an adjusted EBITA margin of 8
Slide 14: Examples of projects in Q1
Examples of projects in Q1 Gjuteriet, office, Remeo, waste center Druvan, parking garage Malmö, Sweden Vanda, Finland Linköping, Sweden • Four Instalco • Two Instalco • Vallacom companies companies • Transparent solar • Electrical, heating & • Electrical, heating & panel system on plumbing, sprinkle
Slide 15: Swedish Society for Nature Conservation
(>) Swedish Society for Nature Conservation 4
Slide 16: Summary
Summary Stable quarter Affected by pandemic – slow start in Norway, Finland and in industry discipline Five acquisitions Changes in management team 16
Slide 17: Instalco – Nothing but the best
INSTALCO NOTHING BUT THE BEST
Slide 18: Instalco
INSTALCO 18