Lagercrantz Group Ab Class B · OMXSTO:LAGR_B
Lagercrantz Group Ab Class B — Q3 2024/25 Earnings Presentation
26 slides from Lagercrantz Group Ab Class B's earnings presentation, Jan 31, 2025
Slide 1: Interim Report Q3 2024/25
Interim Report Q3 2024/25 April – December 2024 (9 months) 31 January, 2025 Jörgen Wigh, CEO Peter Thysell, CFO
Slide 2: Tech Group with leading positions in expansive niches
Introduction to Lagercrantz Group Tech Group with leading positions in expansive niches Lagercrantz Group Electrify Control TecSec Niche Products International 17 companies 14 companies 13 companies 16 companies 16 companies 11 countries 8 countries 10 countries 8 countries 9 countries B2B Tech Gr
Slide 3: Revenues and profits
Interim Report Q3 2024/25 Revenues and profits Rolling 12 months, quarterly data 13 000 1300 Towards 12 000 1200 2 Billion! Profits after financial items, MSEK 11 000 1100 10 000 Towards 1000 Net sales, MSEK 1 Billion 9 000 900 8 000 800 Organic growth & 7 000 more acquisitions 700 6 000 Decentralis
Slide 4: Q3 - Business conditions
Interim Report Q3 2024/25 Q3 - Business conditions The market situation was stable overall and for most of the businesses, but with some variations between the segments. Demand was strongest in the Niche Products and Electrify divisions and remained weaker in businesses focused on the constructi
Slide 5: Q3 2024/25
Interim Report Q3 2024/25 Q3 2024/25 October - December 2024 Net revenues increased by 20% to MSEK 2,462 (2,054) Acquisitions 16%, organic growth 3%, currency 1% EBITA increased 21% to MSEK 428 (353) EBITA-margin at 17.4% (17.2) Profits after financial items increased by 18% to MSEK 335 (2
Slide 6: Nine months 2024/25
Interim Report Q3 2024/25 Nine months 2024/25 April - December 2024 Net revenues increased by 15% to MSEK 6,887 (5,970) Acquisitions 15%, organic growth 0%, currency 0% EBITA increased 15% to MSEK 1,200 (1,042) EBITA-margin at 17.4% (17.5) Profits after financial items increased by 14% to
Slide 7: Outcome by division
NET SALES 2024/25 2023/24 2022/23 MSEK Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Electrify 603 533 561 449 450 421 480 463 433 Outcome by division Control 322 281 264 284 255 219 249 276 267 TecSec 572 511 538 517 540 480 528 516 475 Niche Products 559 472 495 511 435 390 420 451 431 International 406 375 395 398
Slide 8: Comments by division
Interim Report Q3 2024/25 Comments by division Electrify Revenues +34% to 603 MSEK (450), of which acquisitions +28% and organically +6%. EBITA +21% to MSEK 97 (80), i.e., an EBITA-margin of 16.1% (17.8). Electrify delivered a good third quarter, primarily through good earnings contributions from ne
Slide 9: Comments by division
Interim Report Q3 2024/25 Comments by division TecSec Revenues +6% to 572 MSEK (540), of which acquisitions +9% and organically -4%. EBITA amounted to MSEK 92 (99) i.e., an EBITA-margin of 16.1% (18.3). Several of the security companies note a favourable market situation and delivered good earnings
Slide 10: Comments by division
Interim Report Q3 2024/25 Comments by division International Revenues +9% to MSEK 406 (374), of which acquisitions +3% and organically +5%. EBITA +6% to MSEK 69 (65) i.e., an EBITA-margin of 17.0% (17.4). Division International delivers another good quarter with growth, both organically and via acqu
Slide 11: Vision and financial goals
Lagercrantz towards Two billion Vision and financial goals Sustainable supplier of value- adding technologies with market-leading positions in several expansive niches. Annual profit (EBT) growth >15% At least 1/3 organically and the rest through 8-12 acquisitions per year. Return on equity (ROE
Slide 12: Building the divisions
Lagercrantz towards Two billion Building the 5 divisions Electrify Control TecSec Niche Products International 17 companies 14 companies 13 companies 16 companies 16 companies 11 countries 8 countries 10 countries 8 countries 9 countries Niched companies Measure and Security and safety B2B product w
Slide 13: Aim of 85% proprietary products
Lagercrantz towards Two billion Aim of 85% proprietary products Percentage share of Group sales, Moving 12-months based on quarterly data 3 4 4 5 4 4 4 3 3 3 3 2 3 3 2 2 2 2 2 5 5 5 4 4 3 3 3 3 9 9 6 5 7 6 6 6 8 5 5 5 8 8 10 8 10 9 12 14 12 12 13 12 13 15 13 15 14 13 13 13 Proprietary products 17 20
Slide 14: Acquisitions
Lagercrantz towards Two billion >80 acquisitions since 2006, including: Acquisitions 2020 2021 as Group (Niche Products) VP metall (Electrify) Oy Esari (Electrify) Hovicon International B.V. (Asept Group, Niche Products) Actively acquiring leading B2B Tech Vihab (PST, Niche Products) Proagria Milj
Slide 15: Mastsystem Int’l
Mastsystem Int’l Mastsystem Int’l Oy is a leading provider of high-performance telescopic masts. The masts are an integral part of leading air defence systems. The annual revenue is about MEUR 15 with EBITA of around MEUR 6. Acquired at EV/EBITA of about 7x. The company is situated in Joensu
Slide 16: Van Leeuwen Test Group
Van Leeuwen Test Group VLT designs and manufactures, calibrates and service robust equipment for testing heavy vehicles, including brake testers and integrated software. Annual revenues of approx. 20 MEUR with good profitability. Located in Etten-Leur in the Netherlands, with a modern manufact
Slide 17: Track Analysis Systems Ltd (TASL)
Track Analysis Systems Ltd (TASL) TASL is a leader in high-quality polymer sensors for neutron dosimetry and radon detectors with associated reading systems. Annual revenues of approx. GBP 1.2 million with good profitability. The company is located in Bristol, UK. Customers include governmen
Slide 18: CP Cases
CP Cases CP Cases designs and manufactures high- performance protective cases and racks used for mission critical equipment for commercial and military applications. The cases are typically equipped with various climate and hazard control functions. Annual revenues of approx. GBP 12 million with
Slide 19: Principal Doorsets
Principal Doorsets Principal Doorsets Ltd is a growing and innovative manufacturer of bespoke fire doors in UK. Sales are about GBP 9 millions with good profitability. Headquarter and manufacturing are located in Barnstaple, Southwest Devon (UK). Fire doors are a crucial part of the passive fi
Slide 20: Financial overview
Interim Report Q2 2024/25 Financial overview MSEK 24/25 13/14 14/15 15/16 16/17 17/18 18/19 19/20 20/21 21/22 22/23 23/24 RTM Q3 Net Sales 2,546 2,846 3,057 3,096 3,410 3,932 4,180 4,091 5,482 7,246 8,129 9,046 EBITA 256 295 355 409 436 519 565 616 895 1,205 1,431 1,588 EBITA,% 10.1% 10.4% 11.6% 13.
Slide 21: Lagercrantz Group
Lagercrantz Group www.lagercrantz.com
Slide 22: Board of Directors and Group Management
Appendix Board of Directors Group Mgmt Jörgen Wigh Jonas Ahlberg President & CEO Executive VP Head of M&A Fredrik Börjesson Anna Almlöf Chairman of the Board Peter Thysell CFO Malin Nordesjö Anna Marsell Division Mgmt Peter Baaske Andreas Heder Head of Electrify Head of Control Anders Claeson Jörgen
Slide 23: The share & owners
The share & owners • B share listed on Nasdaq Owners 2024-12-31 Shares Votes Stockholm, Large Cap Anders Börjesson & Tisenhult-gruppen 5.6% 29.0% • Ticker: LAGR B Fidelity Investments (FMR) 9.7% 6.9% SEB Investment Funds 8.1% 5.7% Swedbank Robur Funds 7.6% 5.4% Lannebo Asset Management 6.3% 4.5% Cap
Slide 24: Net sales per market segment
Interim report Q3 2023/24 Net sales per market segment Share of group net sales, percent 100% = 100% = 8 129 MSEK 6 887 MSEK 11% 12% Other 5% 6% Security 5% 3% 6% 6% Telecom 7% 6% Service 2% 1% 5% 6% Electronics 8% 9% Building & Construction - Residental 16% 15% Building & Construction - Commercial
Slide 25: Prido
Prido Prido AB is a leading producer of industrial doors and gates, particularly folding doors, with about a third of the market in Sweden and 5—10% in Norway. Annual revenues of around 270 MSEK and good profitability. Located in Tråvad, Västergötland with sales office in Askim, Norway. Opti
Slide 26: Nordic Road Safety
Nordic Road Safety NRS is a leading supplier of permanent road safety and noise barrier systems. Located in Timrå Sweden with 85% of sales in Sweden, the rest exported to other European countries. Revenues of approx. 350 MSEK and EBITA of 50 MSEK with P/WC* of 60% in 2023 (EV/EBITA at 6.5x)