Slide 1: Q4 Interim Report okt-dec 2024
Q4 Interim Report okt-dec 2024 Andreas Stenbäck, CEO Martin Aronsson, CFO 12 February 2025 Volati Interim report October - December 2024 1
Slide 2: Volati is a growing group of well-managed companies with strong earnings
Volati is a growing group of well-managed companies with strong earnings Home markets Subsidiaries +16% +17% Volati EBITA EBITA CAGR growth LTM since 2018 Net sales, 2024 SEK 7,866 m EBITA, 2024 SEK 658 m +10% +28% +16% EBITA CAGR ~38% EBITA CAGR ~28% EBITA CAGR Industry ~34% since 2018 since 2018 s
Slide 3: Return of organic growth in Q4
Return of organic growth in Q4 33% 33% Net sales growth • Sales increased by 11 percent to SEK 2,007 million in Organic net sales growth the fourth quarter. • Organic sales growth of 3%, and the first quarter since 17% Q1 2022 with organic sales growth in all business 12% 13% 11% 11% areas 6% • Marg
Slide 4: Time to close the growth gap
Time to close the growth gap • Cash flow was strong during both the fourth quarter and the full year 2024. Cash conversion in excess of 100% for the second year in a row • Two strategic acquisitions made after Q3: Salix Group acquired Timberman in Denmark, and Ettiketto Group acquired Clever Etikett
Slide 5: Financial development, Q4 2024
Financial development, Q4 2024 Net sales EBITA Operating cash flow Net debt/adjusted EBITDA SEK 2,007 m SEK 136 m SEK 374 m 2,6 x (Q4 2023: 1,808) (Q4 2023: 135) (Q4 2023: 300) (Q4 2023: 2,0x) Net sales, SEK m EBITA, SEK m 2 250 250 2 000 1 750 200 1 500 150 1 250 1 000 100 750 500 50 250 0 0 Q1 Q2
Slide 6: Financial development 2024
Financial development 2024 Net sales 737 750 +17,0% 25 710 SEK 7,866 m 700 650 664 658 (FY 2023: 7,796) 600 20 550 500 EBITA 450 15 421 658 400 SEK m 350 312 300 10 (FY 2023: 737) 257 10,5% 250 9,5% 9,2% 8,6% 8,4% 200 7,6% 7,5% Operating cash flow 150 5 779 100 SEK m 50 0 0 (FY 2023: 836) 2018 2019
Slide 7: Financial targets
Financial targets EBITA growth Return on adjusted equity Capital structure The target is an average annual growth in The long-term target is a return on The target is a net debt/adjusted EBITDA EBITA per ordinary share of at least 15 adjusted equity1) of 20 percent. ratio of 2 to 3 times, and not ex
Slide 8: Three business areas with growth focus
Three business areas with growth focus Industry Products and materials for Self-adhesive labels and Four businesses with leading builder’s hardware, machines for various market positions in their niches; consumables, construction, home applications; from decorative Products and solutions for grain &
Slide 9: Salix Group
Salix Group EBITA • Sales increase of 17 percent in the quarter, mainly driven by acquisitions CAGR but also through organic growth, with slightly lower EBITA margin. +10% 4 000 10.1% 11 • Continued challenging market, however signs of increased activity from 3 598 3 588 10 building hardware store c
Slide 10: Ettiketto Group
Ettiketto Group • Organic revenue increase of 16 percent and an EBITA-margin increase EBITA CAGR of 2pp in the quarter. +28% 1 000 25 • Full year organic revenue increase of 9 percent. 936 900 • The LTM EBITA margin has consistently increased over the past nine 900 20.6% 879 859 856 870 19.9% quarte
Slide 11: Industry
Industry • Revenue growth of 4 percent in the quarter with an EBITA-margin decline EBITA CAGR to 7 percent from 10 percent in Q4 last year. +16% • Corroventa performed well in the quarter but lowered the result 4 000 25 compared to the strong Q4 2023. 3 541 3 500 3 445 3 318 3 316 3 347 • Tornum Gro
Slide 12: 26 acquisitions and SEK 4,2 billion of annual sales since 2020
26 acquisitions and SEK 4,2 billion of annual sales since 2020 EBITA1 EBITA1 EBITA1 Industry ~34% ~38% ~28% Heco SALES Timberman SALES Beneli SALES January 2020 180 December 2024 420 June 2020 160 Pisla SALES Märkas SALES September 2020 240 September 2020 170 Duschy SALES Strongpoint SALES March 202
Slide 13: Add-on acquisitions are an important value driver for Volati and our platforms
Add-on acquisitions are an important value driver for Volati and our platforms 1 170 1 125 1 086 1 021 1 017 867 8 8 8 823 • M&A have over time contributed with annual 770 749 782 742 7 753 sales of SEK 600–1,200 million 7 686 6 6 632 605 610 • Annual pace of 6-8 acquisitions 5 5 5 5 5 • Majority of
Slide 14: Ettiketto Group is an example of how Volati builds strong platforms
Ettiketto Group is an example of how Volati builds strong platforms 40 1 000 936 879 859 900 Net sales, SEK m, LTM GSS EBITA margin, LTM 800 644 700 20,6 21,4 Skipnes 19,9 SEK 70m 20 18,5 600 17,1 15,6 500 Strongpoint/ 394 Ettiketto AS 400 SEK 190m 251 300 0 200 Beneli 2019 2020 2021 2022 2023 2024
Slide 15: Clever Etiketten GmbH
Clever Etiketten GmbH • Annual sales of SEK~290 million • Clever is a leading supplier of label solutions in Germany with approximately 200 employees, founded in 1992 • The acquisition marks the entry into the German market for Ettiketto Group • Potential to further develop Clever through operationa
Slide 16: Well positioned for further acquired growth
Well positioned for further acquired growth Net debt, SEK m 2 183 2 223 2 189 2 105 1 988 1 888 1 907 1 760 1 812 1 713 • Operational cash flow of SEK 374 million in Q4 2024 1 632 compared to SEK 300 million same period last year 1 344 1 024 • FY2024 Cash flow of SEK 779 million • Total cash generat
Slide 17: Summary
Summary • Returning to organic sales growth in Q4 • Two acquisitions since the end of last quarter • In a great position to show accelerated EBITA growth once the markets starts returning towards normal levels Volati Interim report October - December 2024 Photo: Corroventa 17
Slide 18: volatl.
volatl.