Consti Oyj · OMXHEX:CONSTI
Consti Oyj — FY2015 Earnings Presentation
21 slides from Consti Oyj's earnings presentation, Feb 18, 2016
Slide 1: Consti Group Plc Financial Statements 1.1.2015 – 31.12.2015
CONSTI GROUP PLC FINANCIAL STATEMENTS 1.1.2015 – 31.12.2015 CEO Marko Holopainen CFO Esa Korkeela Building renovation specialist | www.consti.fi
Slide 2: Contents
Contents Highlights and Group performance Cash flow and financial position Market outlook and guidance Building renovation specialist | www.consti.fi
Slide 3: Highlights of financial year 2015 – Profitable growth continued
Highlights of financial year 2015 – Profitable growth continued Highlights of 10-12/2015 (y-o-y comparison in brackets) Net sales EUR 74.9 (69.9) million, growth +7.3% EBIT EUR 3.1 (3.1) million, EBIT margin 4.1% (4.4%) Number of Adjusted EBIT EUR 4.6 (3.1) million, adjusted EBIT margin 6.2% personn
Slide 4: Consti's financial year 2015: strong profitable growth continued
Consti’s financial year 2015: strong profitable growth continued Consti’s three development phases since the foundation in 2008 Key actions taken to drive profitable growth Net sales (EURm) 300 12,0 % Adjusted EBITDA margin1) Adjusted EBIT margin before goodwill amortisations1) 256 Successful integr
Slide 5: Consti Group's sales overview – Diverse business and customer mix
Consti Group’s sales overview – Diverse business and customer mix with focus on growth centres 2015 Net sales: EUR 256m 2014 Net sales: EUR 216m Technical Building Technical Building Services Services BUSINESS 34 % 39 % Renovation 32 % 43 % Renovation Contracting Contracting SEGMENTS Building Facade
Slide 6: Realisation of Consti's long-term financial targets in 2015
Realisation of Consti’s long-term financial targets in 2015 Growth Profitability Cash flow Capital structure Dividends Net debt to adjusted The Company’s aim EBITDA ratio of less is to distribute as Average annual Adjusted EBIT- Cash conversion than 2.5x while dividends at least 50 growth in net sal
Slide 7: Performance by business segment
Performance by business segment – Strong sales growth attributable to all three business areas % of Group Key figures 10-12/15 10-12/14 ∆ 1-12/15 1-12/14 ∆ sales (YTD) (EUR m) Net sales 30.3 28.1 +7.9% 102.6 95.4 +7.5% Technical 39% Building (43%) Order intake 21.4 27.3 -21.8% 72.4 88.8 -18.5% Servi
Slide 8: Quarterly net sales development
Consti quarterly net sales development – Growth continued in the fourth quarter Quarterly net sales development Q3/2014 – Q4/2015 (EURm) Comments 90 ■ Q4/2015 net sales EUR 74.9m (69.9m), Growth: 7.3% y-o-y sales growth +7.3% 80 – Net sales grew in all business areas 74,9 Quarterly Net sales (EUR mi
Slide 9: Quarterly EBIT development
Consti quarterly EBIT development – Adjusted EBIT1 and adjusted EBIT margin improved year-on-year Quarterly EBIT development Q3/2014 – Q4/2015 (EURm) Comments 10 8% ■ Q4/15 adjusted EBIT before non- recurring items improved to EUR 4.6 9 (3.1) million, or 6.2% (4.5%) of sales 7% Quarterly adjusted EB
Slide 10: Quarterly order backlog and intake development
Consti quarterly order backlog and intake development – Backlog up by 10.9% year-on-year Quarterly order backlog and R12m order intake Q3/2014 – Q4/2015 (EURm) Comments Growth: 10.9% Q4/2015 order backlog at EUR 181.3m 250 ■ (163.4m), y-o-y growth +10.9% Order backlog and R12m Order intake (EUR mill
Slide 11: Cash Flow and Financial Position
Cash Flow and Financial Position 10 18/02/2016 Building renovation specialist | www.consti.fi
Slide 12: Asset-light business model supporting strong cash conversion
Asset-light business model supporting strong cash conversion, balance sheet continued to strengthen Negative NWC1), Q3/14 – Q4/15 Strong cash conversion2), Q3/14 – Q4/15 Strengthening balance sheet Net working capital (EURm) 8 60 100% Free cash flow (EURm) EBITDA (EURm) Net debt (EURm, LHS) Q3/14 Q4
Slide 13: Significantly decreased financial expenses following refinancing in Q3/2015
Significantly decreased financial expenses following refinancing in Q3/2015 Pro forma financial information Q1-Q4 2015 Basis of preparation 2015 2015 Pro forma ■ The pro forma financials illustrate Consti’s income statement Q1-Q4 Q1-Q41) EURt (1 Jan – 31 Dec) IFRS IFRS as if the refinancing was comp
Slide 14: Market Outlook and Guidance
Market Outlook and Guidance 13 18/02/2016 Building renovation specialist | www.consti.fi
Slide 15: Lead indicators for the Finnish construction market
Lead indicators for the Finnish construction suggest a strengthening market environment going forward Economic Sentiment and Construction Confidence in Finland (2007 – 2015) Comments 150 Economic Sentiment Indicator ■ Economic sentiment in Finland remains Construction Confidence Indicator still belo
Slide 16: Renovation market resilient through cycles
Renovation market resilient through cycles with Consti’s areas seeing above average growth Finnish renovation market development, 2007-2018E Renovation market growth per segment, CAGR 2014-20 (real) Renovation construction (real) Finnish GDP (real, indexed) 2.5% total market Consti presence New buil
Slide 17: Ageing building stock is a key structural market growth driver
Ageing building stock is a key structural market growth driver... Renovation of 1970-1980s building stock in the pipeline Comments Finnish building stock by construction year ■ Almost all of the technical renovation need is expected to be Million also financially justified in the growth centres wher
Slide 18: Energy efficiency, purpose modifications and automation support growth
...further supported by energy efficiency, building purpose modifications and increasing automation Energy efficiency requirements and Purpose modifications to improve Building technology and automation awareness translating into energy economic yield of building stock driving technical renovation m
Slide 19: Consti has a clear roadmap to continue profitable growth
Consti has a clear roadmap to continue profitable growth going forward 4 1 Maintain and further Exploit market improve operational position and expand excellence full offering to Finland’s growth ─ Sales mix centers ─ Project management 4 ─ Grow in businesses and procurement where Consti has long ex
Slide 20: Guidance for 2016
Guidance for 2016 “The Company estimates that its total annual sales for 2016 will grow compared to 2015.” 19 18/02/2016 Building renovation specialist | www.consti.fi
Slide 21: Financial Statements Consti Group Plc Q4
FINANCIAL STATEMENTS 1-12/2015 CONSTI GROUP PLC Q4 CONSTI GROUP PLC HOPEATIE 2 FI-00440, HELSINKI BUSINESS ID 2203605-05 20 18/02/2016 Building renovation specialist | www.consti.fi WWW.CONSTI.FI