Slide 1: Consti Plc Half-Year Financial Report 1 January – 30 June 2024
CONSTI PLC HALF-YEAR FINANCIAL REPORT 1 JANUARY – 30 JUNE 2024 CEO Esa Korkeela CFO Anders Löfman
Slide 2: Contents
CONTENTS 1. Highlights and Group performance 2. Cash flow and financial position 3. Market outlook, guidance and summary 4. Appendix 1 19 July 2024 Consti Plc / H1 Financial Report 2024
Slide 3: Highlights of the Q2/2024 and H1/2024
Highlights of the Q2/2024 and H1/2024 Net sales grew, operating result at par with previous year NET SALES: EBIT: FREE CASH FLOW: EUR 82.9m EUR EUR 3.0m EUR EUR 1.2m EUR Q2 2024 +3.7m Q2 2024 -0.5m Q2 2024 -2.4m EUR +7.1m H1 2024 EUR 0.0m H1 2024 EUR -2.9m H1/2024 EUR 148.4m EUR 3.2m EUR 0.7m EUR EU
Slide 4: Quarterly performance overview
Quarterly performance overview Net sales increased by 9.4% y-o-y, order intake decreased 14.8% against a strong benchmark period QUARTERLY NET SALES (EUR m) QUARTERLY ORDER INTAKE (EUR m) QUARTERLY ORDER BACKLOG (EUR m) FY’22 NET SALES: FY’23 NET SALES: FY’22 ORD. INTAKE: FY’23 ORD. INTAKE: EUR 305.
Slide 5: Quarterly net sales development
Quarterly net sales development Q2 net sales amounted to EUR 82.9m, growing 9.4% year-on-year Quarterly net sales development Q1/2022 – Q2/2024 (EUR m) Comments ■ Q2/2024 net sales EUR 82.9m (75.7m) 115 – Year-on-year growth 9.4% 93,3 89,9 – Net sales grew strongly in Building Technology (58.7%) 95
Slide 6: Quarterly EBIT development
Quarterly EBIT development Q2 result at par with previous year Quarterly EBIT development Q1/2022 – Q2/2024 (EUR m) Comments 8 8% ■ Q2/2024 EBIT amounted to EUR 3.0 (3.0) million, or FY’22 EBIT: FY’23 EBIT: EUR +11.4m EUR +12.3m 3.6% (4.0%) of net sales 7 7% – Operationally, the second quarter of th
Slide 7: Quarterly order intake development
Quarterly order intake development Q2/2024 order intake EUR 90.8 million Quarterly order intake development Q1/2022 – Q2/2024 (EUR m) Comments ■ Q2/2024 order intake EUR 90.8m (106.5m) 109,1 106,5 100 98,7 – Year-on-year change 14.8% – Active but disciplined tendering activities were 91,6 90,8 Quart
Slide 8: Quarterly order backlog development
Quarterly order backlog development Q2/2024 order backlog at EUR 261.2 million Quarterly order backlog development Q1/2022 – Q2/2024 (EUR m) Comments 350 ■ Q2/2024 order backlog at EUR 261.2m (297.9m) – Year-on-year change -12.3% 300 – In absolute terms a slightly smaller share of June 297,9 Quarter
Slide 9: Number of personnel and other HR KPIs
Number of personnel and other HR KPIs Positive trend in personnel turnover, absence rate as well as in accident rate. Consti employed 1,087 (1,052) professionals at quarter-end Average number of personnel Permanent personnel turnover ratio Accident rate / LTIFR Average absence rate (%) 2019 – Q2/202
Slide 10: Contents
CONTENTS 1. Highlights and Group performance 2. Cash flow and financial position 3. Market outlook, guidance and summary 4. Appendix 9 19 July 2024 Consti Plc / H1 Financial Report 2024
Slide 11: Quarterly free cash flow development
Quarterly free cash flow development Q2 2024 free cash flow EUR 1.2 million Quarterly free cash flow1) and EBITDA Q1/2022 – Q2/2024 (EUR m) Comments 25 ■ Q2/2024 free cash flow EUR 1.2m (4.1m) – EBITDA amounted to EUR 4.0m (3.9m) Free cash flow and EBITDA (EUR million) 20 – Cash flow impact from cha
Slide 12: Quarterly net working capital development
Quarterly net working capital development Net working capital at EUR -13.5 million at the end of Q2/2024 Quarterly net working capital1) Q1/2022 – Q2/2024 (EUR m) Comments Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 ■ Net working capital EUR -13.5m (-17.0m) at the end of Q2/2024 0 Ne
Slide 13: Quarterly balance sheet structure
Quarterly balance sheet structure Financial position remained at a good level at the quarter-end Quarterly net debt development (EUR m) Quarterly equity ratio and gearing development Comments Q1/2022 – Q2/2024 Q1/2022 – Q2/2024 30 100% ■ Q2/2024 net debt at EUR 3.9m (6.9m), of which EUR 4.4m (4.0m)
Slide 14: Maturity distribution of interest-bearing debt (30 June 2024)
Maturity distribution of interest-bearing debt (30 June 2024) Gross interest-bearing debt (excl. IFRS 16) EUR 13.9m at quarter-end, decrease of EUR 1.9m y-o-y Maturity profile of interest-bearing debt1) as per 30 June 2024 (EUR m) Comments 30 ■ Consti’s gross interest-bearing debt at EUR 13.9 millio
Slide 15: Reported ROI and Consti ROCE
Reported ROI1) and Consti ROCE2) Return on capital continues to be on a good level Reported ROI1) and Consti ROCE2) Q4/2020 – Q2/2024 (%) Comments ■ In financial years 2020-2023, Consti’s return on 35,3 % 40% 33,0 % capital employed has exceeded 20% 31,6 % 30,8 % 30,0 % 35% 29,3 % 27,8 % ■ Q2 2024 C
Slide 16: Contents
CONTENTS 1. Highlights and Group performance 2. Cash flow and financial position 3. Market outlook, guidance and summary 4. Appendix 15 19 July 2024 Consti Plc / H1 Financial Report 2024
Slide 17: Economic sentiment and construction confidence in Finland below long-term average
Economic sentiment and construction confidence in Finland clearly below their long-term average levels Economic Sentiment and Construction Confidence / Finland (2007 – 6/2024) Comments 150 ■ Negative development in the Economic Economic Sentiment Indicator 140 Sentiment Indicator (ESI) since 2022 ES
Slide 18: Renovation volume projected to decline 0.4% and new building 12.5%
Renovation volume is projected to decline by 0.4% and new building volume by 12.5% in 2024. In 2025 renovation volume is projected to grow by 0.5% and new building volume by 17.3% (Euroconstruct) Finnish new building and renovation market development 2008–2026 (Euroconstruct) Comments EUR b Renovati
Slide 19: Demand outlook weakened by high construction costs, interest rates and tighter financing
The demand outlook for construction weakened by persistently high construction costs, rapidly increased interest rates and tighter availability of financing Persistently high Rapidly increased interest construction costs rates 120 5 +18% Substantial tightening of 118 +4% banks’ credit standards 4 11
Slide 20: Net sales development of the Finnish largest renovation players 2018-2023
Net sales development of the Finnish largest renovation players 2018-2023 Consti continues to be the largest renovation player in Finland. The combined net sales of the selected renovation companies grew by 10.6% in 2023 Net sales development of the Finnish largest renovation players 2018-2023 (MEUR
Slide 21: Outlook and guidance for 2024
Outlook and guidance for 2024 ■ In 2024, the Building construction output in Finland is estimated to decrease by approximately 6.4 percent from the previous year. New construction is predicted to decline by approximately 12.5 percent and renovation by 0.4 percent in 2024. ■ Consti anticipates a decl
Slide 22: Summary
Summary 1. Net sales grew, operating result at par with previous year in Q2 2024 Operationally, Q2 proceeded as expected, with projects progressing predominantly as planned. 2. Profitability remained stable compared to the comparison period. 3. Total amount and quality of Q2 order intake at a good l
Slide 23: Contents
CONTENTS 1. Highlights and Group performance 2. Cash flow and financial position 3. Market outlook, guidance and summary 4. Appendix 22 19 July 2024 Consti Plc / H1 Financial Report 2024
Slide 24: Strategic focus areas
To realise its vision and goals, Consti has defined the following strategic focus areas: •1 Growth in construction Profitable development of current business, expansion in the construction value chain, capitalising on attractive opportunities in new construction, strengthening special expertise •2
Slide 25: Consti's solutions to improve energy efficiency of buildings
Consti’s solutions to improve energy efficiency of buildings and to help customers to achieve their climate goals Consti OPTIMI VODAVOL Energy solutions for housing companies Building technology system Facade solution ENERGY SOLUTION OF THE YEAR 2022 • Reduces total energy consumption by up to 50% •
Slide 26: Consti as an investment - Key investment highlights
Consti as an investment - Key investment highlights ■ Steadily improving profitability ■ Aging building stock driving need-based renovation ■ Solid platform for future growth ■ Climate change and energy efficiency requirements ■ Asset-light business model with negative working Financial ■ Urbanisati
Slide 27: Half-Year Financial Report 1-6/2024 Consti Plc
HALF-YEAR FINANCIAL REPORT 1-6/2024 CONSTI PLC H1 CONSTI PLC VALIMOTIE 16 FI-00380, HELSINKI BUSINESS ID 2203605-05 WWW.CONSTI.FI 26 26 April 2019 Consti Group Plc / Interim Report 1-3/2019