Scanfil Oyj · OMXHEX:SCANFL
Scanfil Oyj — Scanfil Oyj Ord — Q3 2024 Earnings Presentation
24 slides from Scanfil Oyj's earnings presentation, Oct 25, 2024
Slide 1: Success in defending profit margin in challenging market
Success in defending profit margin in challenging market Q3/2024 CHRISTOPHE SUT, CEO KAI VALO, CFO 25 OCTOBER 2024
Slide 2: Key events in Q3/2024
Key events in Q3/2024 Customers People and organization Sustainability Performance • Skytree, CO2 capture scale- • Change from functional to • SBTi approval for Greenhouse • Customer satisfaction up, signed an agreement with regional organization as of gas reduction targets increased to 4.07 and NPS
Slide 3: SRX in nutshell
SRX in nutshell Company Johor Bahru, Malaysia Melbourne, Australia • Debt free price of EUR 23.3 million (USD 25.7 • Factory with space of 4,400 m², opportunities • Factory with space of 7,500 m² million to acquire more space • Leased • Turnover in 2024 fiscal year EUR 39 million • Leased • 4 SMT li
Slide 4: Q3/2024 key financials and customer segments
Q3/2024 key financials and customer segments
Slide 5: Success in defending profit margin in challenging market
Success in defending profit margin in challenging market • Profit margin remain stable at 7.2% in a challenging market Q3/2024 • New won deals EUR 41.7 million in the quarter and EUR 173.3 M€ / -18.6% 126.1 million in Jan-Sept, which bring us confidence Turnover / YoY, % • Balance sheet is very stro
Slide 6: Turnover Q3/2021–Q3/2024
Turnover Q3/2021–Q3/2024 MEUR 250 5,3 14,6 7,9 3,1 200 29,5 19,6 3,1 17 1,5 1,3 1,3 14,4 1,3 11,7 150 100 50 167,8 191,7 196,6 212,9 211,9 222,3 224,6 243,3 212,8 220,8 198,9 195,5 173,3 0 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 6
Slide 7: Operating profit Q3/2021–Q3/2024
Operating profit Q3/2021–Q3/2024 MEUR 17,5 15 15,1 15,2 13,9 13,4 13,4 12,7 12,4 11,5 10 10,2 10,3 10,1 9,5 7,2 7,2 7,1 7,2 6,7 6,4 6 6,1 5,7 5,4 5 5,3 5,3 4,8 0 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Adjusted operating profit, MEUR Operating profit, adj., % 7
Slide 8: Customer diversification
Customer diversification 100% 13% 12% 90% 18% 19% 80% 19 % 70% 42% 42% 37% 36% 60% 50% 47 % 40% 34 % 30% 45% 45% 45% 46% 20% 10% Industrial Energy & Cleantech 0% Medtech & Life Science 2021 2022 2023 1-9 2024 Rest TOP10 (ex. Biggest) The biggest customer 25-Oct-24 8
Slide 9: Segment development in Industrial
Segment development in Industrial Turnover Won deals in 1-9/2024 Biggest won deals in Q3/2024 Y/Y: -15.1% 120 30 24,8 3.5 MEUR Construction and living 100 25 80 20 17,5 2.5 MEUR Process industry 60 15 2.4 MEUR Process industry 9,3 40 10 … … 20 5 17.5 MEUR In total 0 0 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q
Slide 10: Segment development in Energy & Cleantech
Segment development in Energy & Cleantech Turnover Won deals in 1-9/2024 Biggest won deals in Q3/2024 Y/Y: -28.4% 25 22,8 100 4.6 MEUR General 20 75 16,1 15 4.0 MEUR Energy efficiency 15 50 2.0 MEUR Energy infrastructure 10 … … 25 5 16.1 MEUR In total 0 0 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2
Slide 11: Segment development in Medtech & Life Science
Segment development in Medtech & Life Science Turnover Won deals in 1-9/2024 Biggest won deals in Q3/2024 Y/Y: -6.9% 9 45 8,1 8,1 8 7 Diagnostics and laboratory 2.8 MEUR equipment 30 6 5 4,5 1.3 MEUR Medtech 4 0.9 MEUR Analytical instruments 15 3 2 … … 1 0 0 8.1 MEUR In total Q3/21 Q4/21 Q1/22 Q2/22
Slide 12: Financials
Financials CFO Kai Valo SCANFIUL
Slide 13: Focus on operational costs
Focus on operational costs 20 • 7,1% 6,8% turnover for the Q3 was The -18.6% -20.0% -18.4% 1 EUR 173.3 million, EUR -39,5,/ 03 -18.6% y/y 10 1 2 12 4 • High focus on operational costs 7,2% was driving the expenses lower 0 by EUR -39,4 million / -20%. 3 3 4 10 • Adjusted operating margin was at the t
Slide 14: Balance sheet strengthen even further
Balance sheet strengthen even further 85,3 84,9 10,9 13,3 266,0 +14,5 Fixed Assets -15,8 280,5 173,5 Other Assets 157,7 Equity Trade and other receivables Interest Bearing Debt Cash and Equivalent +30,6 Trade and other liabilities Other Intangible Assets 21,2 10,4 Other liabilities Goodwill 7,7 51,8
Slide 15: Net cash from operating activities Q3/2021–Q3/2024
Net cash from operating activities Q3/2021–Q3/2024 MEUR 40 • First 9 months net cash flow from 37,2 operating activities was EUR 68.7 34,8 (34.1) million 30 25,2 • The positive change resulted from 20 21,8 the EUR 35.1 million impact of the reduction in the inventories. 13,9 10 9,8 9,7 8 • Rolling 1
Slide 16: Net debt Q3/2021–Q3/2024
Net debt Q3/2021–Q3/2024 MEUR 100 • Net Debt was EUR 11.1 (80,7) million • Cash and cash equivalents 80 totaled EUR 51.8 (13.6) million. • Interest-bearing liabilities 60 were EUR 62.9 (94.4) 40 • Total liquidity EUR 142.9 million. • EUR 91.1 million of unused credit facilities and EUR 51,8 20 milli
Slide 17: Key figures
Key figures • Equity ratio 58,2% (47,8%) Equity Ratio Net Gearing • Equity increased by EUR 32.9 70 35 32,6 million 58,2 60 30 • Balance sheet was lower by 47,8 25 EUR -43.5 million driven 50 40 20 30 15 • Net gearing 4.0 (32.6) 20 10 • Net debt was EUR 11,1 5 4 million and decreased by 10 EUR -69,6
Slide 18: Outlook
Outlook SCANFIUL
Slide 19: Outlook and focus in 2024
Outlook and focus in 2024 We expect our turnover to be EUR 780–840 (820–900) million and adjusted operating profit to be EUR 54–61 (57–65) million. The fourth quarter is expected to be the strongest quarter of the year in turnover and operating profit. Focus areas: • Build up sales pipeline with spe
Slide 20: Q&A
SCANFIL Q&A
Slide 21: Key takeaways
Key takeaways • Q3/2024 • Adjusted operating margin 7.2%, within long-term target of 7%-8% • EUR 41.7 million won deals, slight increase from the second quarter • Net cash flow from operations exceeded EUR 21.8 million • Net debt/EBITDA 0.15 • Gearing for growth • SRX acquisition on October 3rd • Ne
Slide 22: Contact information and analysts
Carnegie AB, Stockholm Jakob Söderblom +46 734 178 643 jakob.soderblom@carnegie.se Contact information Inderes Oyj and analysts Antti Viljakainen +358 44 591 2216 antti.viljakainen(at)inderes.fi Nordea Oyj Pasi Väisänen CHRISTOPHE SUT, CEO +358 9 5300 5192 +358 407 318 411 pasi.vaisanen(at)nordea.co
Slide 23: Disclaimer
Disclaimer Not to be published or distributed, directly or indirectly, in any country where its distribution or publication is unlawful. Forward looking statements: certain statements in this presentation may constitute "forward-looking" statements which involve known and unknown risks, uncertaintie
Slide 24: Global contract manufacturer and systems supplier
Global contract manufacturer and systems supplier