Slide 1: AQ Group Investor presentation Q4 2022
Slide 2: Fourth Quarter, Oct-Dec 2022 in brief
Fourth Quarter, Oct-Dec 2022 in brief led e Record turnover and record result e Net sales increased by 31.8% to SEK 1,974 million (1,498) e Goal 15% Growth e Operating profit (EBIT) increased by 30.5% to SEK 148 million (113) e Profit after financial items (EBT) increased by 23.7% to SEK 137 million
Slide 3: Full year, Jan-Dec 2022 in brief
Full year, Jan-Dec 2022 in brief led e Net sales increased by 28.9% to SEK 7.053 million (5,471) Goal 15% Growth e Operating profit (EBIT) increased by 9.9% to SEK 491 million (446) e Profit after financial iterms (EBT) increased by 9.3% to SEK 482 million (441) e Profit margin before tax (EBT %) wa
Slide 4: EPS Growth
EPS Growth 18% Average EPS Growth 2013-2022 2022 EPS growth of 12,2% to 22,43kr/share Our target is to increase EPS with >15%/year 4
Slide 5: Net sales
Net sales Good turnover in the quarter. Growth +32% vs Q4 2021. Still long lead times on some components but less limitiations in supply chain. Serial deliveries started on battery systems from Bulgaria and big wiring systems truck project in Lithuania. Growth mainly in electrification – batteries,
Slide 6: Organic growth
Organic growth Target 10%/ year ”Real” organic growth in Q4 is approximately 16% and 10% is price increases vs. same quarter last year. 6
Slide 7: Acquired Growth
Acquired Growth Focus on organic growth. As usual we are always looking for interesting acquisitions. Target 5%/ year. 7
Slide 8: EBT Margin
EBT Margin Price adjustments returning to normal level. Price adjusmtents for automotive customers for 2022 done late in Q4. Higher focus on internal productivity in high growth factories. 5 companies with detailed improvement program to improve profitability. EBT Margin (%) goal is 8% The margin sh
Slide 9: Net cash from operating activities
Net cash from operating activities Back to normal level with limited inventory growth. Our program for increasing inventory turnover is showing some effect. It will be run during Q4 and 2023. 9
Slide 10: Inventory value & turnover development
Inventory value & turnover development Inventory turnover target is 3.5 turns/year. Inventory increase in mainly raw material and semi-finised goods. Due to; Growth Price increases on raw materials Missing components. Our actions are starting to show improvement 10
Slide 11: Investments in increased capacity
Investments in increased capacity Wiring Systems factory in Lithuania Factory building was finished in April 2022. Investments in machines and production lines in done. Full production from end of Q1, 2023. Turnover in this factory should increase with 40mEuro in 2023. Customers: Truck, Buss and Con
Slide 12: Net Debt excl IFRS16
Net Debt excl IFRS16 Net debt (excl IFRS16) Dec 2022 SEK 572 Million. Capacity increase investments (74mSEK) in combination with NCFOA decreased the net debt in the quarter. Net debt/EBITDA=0,87 12
Slide 13: On-time Delivery (OTD) Jan-Dec - Goal 98%
On-time Delivery(OTD) Jan- Dec - Goal 98% We are increasing capacity rapidly to handle increasing volumes. Still issues with material but better and better availabillity. This KPI should improve quarter by quarter in 2023.
Slide 14: Projects for future growth
Projects for future growth WE ARE RELIABLE
Slide 15: Electrification (Storage)
Electrification (Storage) Battery storage Batteries and control cabinets for storage of reneable energy. Deliveries to US, EU and Taiwan. First battery module prototype built in Bulgarian in the photo. Expected capacity : 1000pcs battery modules. 500 pcs control cabinets. Turnover at full speed 40mE
Slide 16: Electrification (Wind Power & motor drives)
Electrification (Wind Power & motor drives) Inductors and mechanical enclosures for motor drives Strong increase in demand for motor drives. Our customers tell us that when their customer exchange an old drive for a new one they can save between 20-40% in energy consumption. We see increases in our
Slide 17: Defence
Defence Wiring Systems Strong growth in Sweden and Poland for wiring systems to tanks and all-terrain vehicles. Several projects recieved with order value of SEK 100m over 4 years. Sheet metal fabrication Strong growth in Sweden and Estonia for sheet metal fabrication and assembly of parts to tanks
Slide 18: Questions?
WE ARE RELIABLE Questions? aQ