Vestum Ab · OMXSTO:VESTUM
Vestum Ab — Q2 2023 Earnings Presentation
15 slides from Vestum Ab's earnings presentation, 2023
Slide 1: Vestum Q2 2023
Slide 2: This is Vestum
This is Vestum Specialists for sustainable development of our societies Industrial group providing niche services and products to civic infrastructure Local presence with a Northern European footprint Over 2,000 employees in four countries Decentralised leadership with strong local roots enabling sp
Slide 3: Q2 2023 key figures
Q2 2023 - All figures in this presentation have been recalculated based on current accounting principles and are focused on the remaining the divestmen accor to IFRS 5 regarding otherwise state 1,707 162 Net sales, SEKm Operating cash flow, SEKm 160 2,971 Adjusted EBITA, SEKm Financial net debt', SE
Slide 4: Water segment
Water segment * Strong demand in all product Niche offering in water infrastructure categories Q2 2023 figures LTM Q2 2023 figures * Somewhat favorable weather 7 7 705 conditions Net sales, SEKm Net sales, SEKm * Expecting continued solid demand EBITA, SEKm EBITA, SEKm fo) fo) 22.2% 19.6% EBITA marg
Slide 5: Services segment
Services segment Services Niche service and maintenance offering to commercial property owners Q2 2023 figures 507 Net sales, SEKm 44 EBITA, SEKm 8.6% EBITA margin LTM Q2 2023 figures 2,075 Net sales, SEKm 202 EBITA, SEKm 9.7% EBITA margin Overall stable demand Somewhat weaker demand in businesses w
Slide 6: Infrastructure segment
Infrastructure segment Infrastructure Experts within civic infrastructure * Overall solid demand * Margin impacted by certain Q2 2023 figures LTM Q2 2023 figures projects with insufficient 983 3 736 profitability ) . r : Net sales, SEKm Net sales, SEKm Demand from public sector end customers expecte
Slide 7: Stable growth and EBITA margin development Q1 2022 - Q2 2023
Stable growth and EBITA margin development Q1 2022 - Q2 2023 Hl Net sales, Rolling 12 months 6 930 EBITA, Rolling 12 months 6 439 6515 EBITA margin, Rolling 12 months 5892 4387 2584 v9 79 546 679 690 654 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 ae) Note: trial igus shown os reported in euch r
Slide 8: Net sales and EBITA rolling 12 months
& 3B Net sales Rolling 12 months SEKm Q3 2022 Q4 2022 Q12023 700 600 EBITA Rolling 12 months MEBITA 0 Q1 2022 [Q2 2022) Q3 2022 Q4 2022 Q1 2023 |Q2 202 7.0% a Q12022 {Q2 2022} Q3 2022 Q4 2022 Q12023 |Q2 202 Stable net sales development but weaker margin in Infrastructure and Services EBITA EBITA mar
Slide 9: Net sales growth
Net sales growth SeKm (a | \e8/ 146320 —p———— 601 ¢ Net sales growth for the quarter driven primarily by acquisitions * Organic growth was 1%, representing 13% of total net sales growth Q2 2022 Organic growth Acquired Fx Q2 2023 growth VESTUM
Slide 10: Stable demand and profitability in Water, weaker profitability in Services and Infrastructure
Stable demand and profitability in Water, weaker profitability in Services and Infrastructure compared to previous year ater Services Infrastructure Hi Net sales, SEKm IMEBITA, SEKm = EBITA margin Mil Net sales, SEKm IEBITA, SEKm = EBITA margin Mlinet sales, SEKm IMIEBITA, SEKm = EBITA margin 217 1,
Slide 11: Net debt and leverage
Net debt and leverage Leverage 4.0 3.0 2.9 28 2.9 29 2.8 = essseesssensseensee a 2.0 23 1.0 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Financial net debt Hi Financial net debt adjusted for disposal Financial net debt / PF EBITDA R12 months (Leverage) aad Financial target, 2.5x Financial net deb
Slide 12: Operating cash flow R12 months
Operating cash flow R12 months 83% * Operating cash flow rolling 12 months increased compared to the previous quarter driven primarily by positive net working capital development 77% 70%, 720 Operating cash flow R12, SEKm Operating cash conversion R12, % 684 645 53% ae compared to Q2 last year 50% |
Slide 13: New appointed CEO
New appointed CEQ Simon Géthberg * Appointed CEO with effect from 1 November 2023 * Co-founder of Vestum and currently holds the role as deputy CEO and Head of M&A * Background in corporate finance and private equity * Bachelor's degree in BA from University of Southern California VESTUM
Slide 14: Summary of the quarter
* Solid overall demand and improved operational cash flow * Water segment generating high growth in sales and profits * Lower profitability level in Services and Infrastructure * Continued increase in portfolio collaborations * Completed strategic divestment after end of quarter * Continued focus on
Slide 15: Q&A