Slide 1: Bravida Q3 2024
Bravida Q3 2024 Mattias Johansson, CEO Åsa Neving, CFO 22 October 2024
Slide 2: Q3 highlights
Q3 highlights • Flat growth as expected due to challenging markets Net sales growth and strict project selection • Service sales growth 8% 0% • Order intake decreased -12%, but growth in Denmark • Order backlog decreased during the quarter except in Denmark Service Organic growth -3% sales growth •
Slide 3: Net sales performance in Q3, SEKm
Net sales performance in Q3, SEKm Sales growth 0% 6,583 6,575 Organic growth -3% 336 -148 -196 Growth in service +8% Growth in installation -7% Growth from acquisitions +5% FX effects -2% Net sales Q3 Organic growth M&A Currency effect Net sales Q3 2023 2024 7
Slide 4: EBITA in Q3, SEKm
EBITA in Q3, SEKm – 352 • EBITA-margin 4.5% (5.4%) • EBITA-margin improved in Finland and Norway – 294 • As expected, operational challenges in three Danish regions and a weak market in the south part of Sweden brought down the group margin – • Cost efficiency measures in response to market conditio
Slide 5: Order intake and backlog, SEKm
Order intake and backlog, SEKm • Order intake decreased -12% YoY in Q3, due to lower volumes of installations • Order backlog remains high, decreasing SEK -949m in Q3 Order intake LTM and per quarter Order backlog (installation only) 20,000 17,895 16,459 16,610 9,000 35,000 15,269 8,000 15,000 30,00
Slide 6: ESG
ESG LTIFR (lost time injury frequency rate) LTM • 34% of all 8,800 vehicles are electric driven 20.0 • Change in CO2 emissions LTM from vehicles, -13% • LTIFR on Group level, -17% 16.4 • Lower LTIFR in Sweden, Norway and Denmark 15.0 14.0 • Norway and Sweden below target, <5.5 11.1 10.0 9.8 7.1 5.9
Slide 7: Acquisitions 2024
Acquisitions 2024 • 9 acquisitions completed in 2024, adding SEK 464m in annual sales • Continue to see good acquisition opportunities Finland Sweden • Strong pipeline of potential candidates to continue our strategy of selective M&A growth Norway 3 bolt-ons SEK 177m SEK 6 bolt-ons Acquisitions 2024
Slide 8: Sweden Q3 2024
Sweden Q3 2024 9,145 8,742 SEKm Q3 2024 Q3 2023 YTD 2024 YTD 2023 Q3 2024 Net sales 3,080 3,076 10,264 10,390 Q3 2023 EBITA 193 208 586 653 EBITA-margin 6.3% 6.8% 5.7% 6.3% Order intake 2,204 3,082 9,912 10,087 3,080 3,076 3,082 2,204 Order backlog 9,145 8,742 9,145 8,742 • Sales increased marginall
Slide 9: Norway Q3 2024
Norway Q3 2024 2,781 2,061 SEKm Q3 2024 Q3 2023 YTD 2024 YTD 2023 Q3 2024 Net sales 1,297 1,322 4,537 4,239 Q3 2023 EBITA 73 69 245 221 1,297 1,322 1,250 1,093 EBITA-margin 5.7% 5.2% 5.4% 5.2% Order intake 1,093 1,250 4,097 3,713 Order backlog 2,061 2,781 2,061 2,781 Net sales Order intake Order bac
Slide 10: Denmark Q3 2024
Denmark Q3 2024 4,313 3,635 SEKm Q3 2024 Q3 2023 YTD 2024 YTD 2023 Q3 2024 Net sales 1,595 1,659 4,977 5,088 Q3 2023 EBITA -7 58 12 196 2,018 EBITA-margin -0.4% 3.5% 0.2% 3.9% 1,595 1,659 1,714 Order intake 2,018 1,714 5,587 5,376 Order backlog 4,313 3,635 4,313 3,635 Net sales Order intake Order ba
Slide 11: Finland Q3 2024
Finland Q3 2024 1,301 Q3 2024 Q3 2023 1,090 SEKm Q3 2024 Q3 2023 YTD 2024 YTD 2023 Net sales 646 539 1,866 1,646 EBITA 33 13 71 50 646 EBITA-margin 5.1% 2.5% 3.8% 3.0% 539 507 452 Order intake 452 507 1,603 1,681 Order backlog 1,090 1,301 1,090 1,301 Net sales Order intake Order backlog • Strong gro
Slide 12: Net debt and cash flow, SEKm
Net debt and cash flow, SEKm Operating cash flow, SEKm Key highlights 1,200 1,140 Strong cash flow improvement, partially driven by our focus on NWC Financial position Q3 2024 Cash conversion improved to 134% (57%) 800 Net debt remains low, providing capacity for Cash balances 1,205 continued
Slide 13: Market outlook
Market outlook 1. Overall stable demand for service activities, with some challenges in installation continuing – variation between geographies 2. Favourable market conditions for projects in e.g., infrastructure, industry, defence facilities and civil engineering – providing business opportunities
Slide 14: Financial targets
Financial targets >7% >100% <2.5x Net debt/EBITDA EBITA margin Cash conversion Target leverage ratio >5% >50% of net profit Sales growth Target pay-out ratio 18
Slide 15: Summary Q3 2024
Summary Q3 2024 • Sales decreased marginally • Service sales +8% • Organic growth -3% • Growth from acquisitions +5% • As expected, EBITA-margin affected by challenges in Denmark and a weak market in the south part of Sweden • Cost efficiency measures in Denmark and south part of Sweden (SEK 19m one
Slide 16: Upcoming events
Upcoming events 11 February 2025 Interim Report Q4 2024 6 May 2025 Interim Report Q1 2025 20
Slide 17: <>bravida
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