Wastbygg Gruppen Ab Class B · OMXSTO:WBGR_B
Wastbygg Gruppen Ab Class B — Q1 2021 Earnings Presentation
36 slides from Wastbygg Gruppen Ab Class B's earnings presentation, April 2021
Slide 1: Interim Report January - March 2021
INTERIM REPORT JANUARY - MARCH 2021 DALS ÄNGAR, FALKENBERG WÄSTBYGG GRUPPEN
Slide 2: Today's presenters
Today’s presenters JÖRGEN ANDERSSON JONAS JÖNEHALL MARIE LINDEBÄCK Chief Executive Officer CFO and Deputy CEO Head of Investor Relations/ Deputy Head of Sustainability 2 WÄSTBYGG GRUPPEN
Slide 3: Wästbygg – a summary
Wästbygg – a summary Develop and build 315 Employees Mar-21 sustainable, modern and efficient homes, commercial properties and logistics and industrial properties 40th Year of operation OSLO HELSINKI STOCKHOLM GOTHENBURG BORÅS VARBERG JÖNKÖPING HELSINGBORG COPENHAGEN MALMÖ 3 WÄSTBYGG GRUPPEN
Slide 4: Wästbygg's business areas
Wästbygg’s business areas WÄSTBYGG GRUPPEN PROPERTY LOGISTICS AND RESIDENTIAL COMMERCIAL MANAGEMENT INDUSTRY Construction and project Construction and project Property management Construction and project development of development of commercial of community service development of logistics and resid
Slide 5: New organisation established Wästbygg AB
New organisation established WÄSTBYGG AB o Joint organisation for construction and project development in Residential and Commercial. o Joakim Efraimsson appointed Managing Director of Wästbygg AB. He will assume his new position on 1 June, when he will also join Wästbygg’s group management. o At Wä
Slide 6: In focus during 2021
In focus during 2021 o New organisation established for Wästbygg AB o Prerequisitions for increased share of property development o Community Service Properties o Strengthen the Nordic presence in Logistics & Industry o Covid-19 management o A sustainable business 6 WÄSTBYGG GRUPPEN
Slide 7: A sustainable business
A sustainable business SUSTAINABILITY INTEGRATED Nordea ESG Rating: IN THE BUSINESS MODEL AA Sustainability • Sustainability a natural well integrated part of the business with operations • In-house competence • Sustainability reports since 2016 Sustainability • Climate reports since 2018 reporting
Slide 8: Green Labelling of equity and debt
Green Labelling of equity and debt SHADES OF GREEN WÄSTBYGG GRUPPEN AB Based on our review, we rate the SHADES OF GREEN ASSESSMENT Wästbygg’s green finance framework CICERO Medium Green. Included in the overall shading is an assessment of the governance structure of the green finance BY BY framework
Slide 9: Selected projects January - April 2021
Selected projects JANUARY - APRIL 2021 HELSINGBORG KASTRUP Drottninghög KARLSKOGA DHL 111 rental and 38 tenant owned apartments Specialfastigheter 26,000 sqm ÅSTORP STOCKHOLM Catena Mathem 11,100 sqm 41,000 sqm 9 WÄSTBYGG GRUPPEN
Slide 10: First Quarter 2021 Significant Events
First Quarter 2021 SIGNIFICANT EVENTS o Contract with Nordström Bygghandel for the construction of a building supplies store in Norrköping. Order of approx. SEK 70 million. o Decision to start production of our self-developed project Soluret in Malmö and Parklyckan in Stockholm. o Contract signed wi
Slide 11: First Quarter 2021 Key Figures
First Quarter 2021 KEY FIGURES MSEK 814 8.1 % Revenue Jan-Mar 2021 EBIT margin Jan-Mar 2021 MSEK 767 SEK 3.1 bn Order intake Jan-Mar 2021 Order backlog Mar 2021 DISTRIBUTION OF REVENUE (JAN-MAR 2021) Residential Construction Commercial Project Development Logistics & industry As of Q2 2020 the Compa
Slide 12: Residential Segment Development
Residential SEGMENT DEVELOPMENT • Focus on multi dwelling buildings (condominiums and rental apartments) and student housing. • Construction and project development. PRODUCTION, NUMBER OF FLATS Completed during the period 466 Ongoing March 31, construction 688 Ongoing March 31, project development 4
Slide 13: Commercial Segment Development
Pro Stop Backa, GÖTEBORG Commercial SEGMENT DEVELOPMENT • Focus on commercial properties including retail, offices, community service properties and hotels. • Construction and project development. PRODUCTION, NUMBER OF SQM Completed during the period 44,500 Ongoing March 31, construction 46,785 Ongo
Slide 14: Logistics and Industry Segment Development
Logistics and Industry SEGMENT DEVELOPMENT • Focus on larger logistics and industrial buildings under the brand of Logistic Contractor. • Construction and project development. PRODUCTION, NUMBER OF SQM REVENUE BY TYPE REVENUE BY MARKET Completed during the period 38,000 Project 14 % Abroad Ongoing M
Slide 15: Long term profitable growth
Long term profitable growth INCREASED FOCUS ON REVENUE DEVELOPMENT (SEKM) EBIT (SEKM) AND PROJECT DEVELOPMENT MARGIN DEVELOPMENT DRIVES HIGHER MARGINS : 8-LTM : Share of project development CAGR’1 - LTM 0,8 % ’18 GR % CA 27,8 8,0% 32% 3 905 6,7% 26% 28% 3 801 3 652 3 714 4,7% 297 4,9% 254 2019 2020
Slide 16: Order backlog
Order backlog ORDER BACKLOG (SEKM) COMPARISON OF ORDER BACKLOG PER SEGMENT FOR 2019-2021 Residental Commercial 3 752 Logistics & 3 634 industry 3 201 3 102 1 744 1 763 1 618 1 160 1 173 1 221 848 265 263 Dec-18 Dec-19 Dec-20 Mar-21 Dec-19 Dec-20 Mar-21 Dec-19 Dec-20 Mar-21 Dec-19 Dec-20 Mar-21 As of
Slide 17: Order intake and backlog since 2017
Order intake and backlog SINCE 2017 SEASONALITY WITH STRONG ORDER INTAKES IN Q2 AND Q4 SEKm SEKm 2 000 5 000 1 800 4 500 1 600 4 000 1 400 3 500 1 200 3 000 1 000 2 500 Order intake 800 2 000 (LHS) 600 1 500 Order backlog (RHS) Revenue 400 1 000 (RHS) 200 500 0 0 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
Slide 18: Solid financial performance
Solid financial performance EQUITY / ASSETS RATIO RETURN ON EQUITY CF FROM OPERATING ACTIVITIES (SEKM) 60% 57% 240 38% 35% 27% 31% 29% 24% 76 -73 -95 Dec-18 Dec-19 Dec-20 Mar-21 Dec-18 Dec-19 Dec-20 Mar-21 LTM 2018 2019 2020 Mar-21 LTM As of Q2 2020 the Company consolidates tenant-owner associations
Slide 19: Medium term financial targets
Medium term financial targets TARGET OUTCOME Annual growth 10 % 0,8 % GENERAL GOALS target over time CAGR’18-LTM o Continuous profitable growth through digitalisation and increasing efficiency EBIT margin >6 % 8,0 % MAR-21 LTM o Continued focus on risk avoidance and profitability in every project o
Slide 20: Key investment highlights Jan-Mar 2021
Key investment highlights JAN-MAR 2021 o Strong result with increased profitability o Solid revenues o Strong order intake o High activity in all segments & markets o Increased share of project development o Production according to plan o Green equity MALMÖ Cityterrassen Construction start 2021 20 W
Slide 21: Significant events after 31 March 2021
Significant events AFTER 31 MARCH 2021 o Contract signed with Swedish Logistics Property for the construction of a logistics facility in Helsingborg. Order value SEK 46 million. o Contract signed with Specialfastigheter for the construction of an extension at the Swedish Prison and Probation Service
Slide 22: Focus going forward
Focus going forward o Continued high profitability and growth in existing areas. o Increased share of project development. o Build up a portfolio of self-developed community service properties in the Inwita Fastigheter group company. o Expansion of LC in the Nordics. o Increased focus on industrial
Slide 23: Q&A
Q&A JÖRGEN ANDERSSON JONAS JÖNEHALL MARIE LINDEBÄCK Chief Executive Officer CFO and Deputy CEO Head of Investor Relations/ Deputy Head of Sustainability WÄSTBYGG GRUPPEN
Slide 24: Thank you
Thank you WÄSTBYGG GRUPPEN
Slide 25: Appendix
Appendix 25 WÄSTBYGG WÄSTBYGG GRUPPEN GRUPPEN
Slide 26: Income statement overview (segment reporting)
Income statement overview (SEGMENT REPORTING) Jan-Mar Jan-Mar Apr-Mar Jan-Dec SEKm 2021 2020 2020-2021 2020 Revenue 814 901 3,714 3,801 Costs in production -685 -824 -3,142 -3,281 Gross profit/loss 129 77 572 520 Sales and administration costs -65 -54 -280 -269 Other operating revenue 2 1 5 4 Other
Slide 27: Balance sheet overview (segment reporting)
Balance sheet overview (SEGMENT REPORTING) SEKm 31 Mar-21 31 Mar-20 31 Dec-20 ASSETS Fixed assets Intangible fixed assets 238 236 237 Tangible fixed assets 101 60 95 Financial fixed assets 49 44 49 Total fixed assets 388 340 381 Current assets Development properties, etc 83 82 75 Accounts receivable
Slide 28: Cash flow statement (segment reporting)
Cash flow statement (SEGMENT REPORTING) Jan-Mar Jan-Mar Apr-Mar Jan-Dec SEKm 2021 2020 2020-2021 2020 Day-to-day operations Profit/loss before financial items 66 24 296 254 Adjustment for items not included in cash flow and paid interest and taxes 20 -5 70 45 Cash flow from operating activities befo
Slide 29: Income statement overview (IFRS reporting)
Income statement overview (IFRS REPORTING) Jan-Mar Jan-Mar Apr-Mar Jan-Dec SEKm 2021 2020 2020-2021 2020 Revenue 900 926 3,594 3,620 Costs in production -761 -848 -3,045 -3,132 Gross profit/loss 139 78 549 488 Sales and administration costs -65 -54 -280 -269 Other operating revenue 2 1 5 4 Other ope
Slide 30: Balance sheet overview (IFRS reporting)
Balance sheet overview (IFRS REPORTING) SEKm 31 Mar-21 31 Mar-20 31 Dec-20 ASSETS Fixed assets Intangible fixed assets 238 236 237 Tangible fixed assets 101 60 95 Financial fixed assets 52 45 53 Total fixed assets 391 341 385 Current assets Development properties, etc 700 568 815 Accounts receivable
Slide 31: Cash flow statement (IFRS reporting)
Cash flow statement (IFRS REPORTING) Jan-Mar Jan-Mar Apr-Mar Jan-Dec SEKm 2021 2020 2020-2021 2020 Day-to-day operations Profit/loss before financial items 76 25 274 223 Adjustment for items not included in cash flow and paid interest and taxes 19 -4 73 50 Cash flow from operating activities before
Slide 32: A sustainable business
A sustainable business WÄSTBYGG EMISSIONS 2020, IN TONS CO2e 32 WÄSTBYGG GRUPPEN
Slide 33: Senior executives
Senior executives JÖRGEN ANDERSSON JONAS JÖNEHALL MARIE LINDEBÄCK MIKAEL HILLSTEN Head of Investor Relations/ Chief Executive Officer CFO and Deputy CEO COO Deputy Head of Sustainability BENN KARLBERG KRISTIN LUNDMARK MAGNUS BJÖRKANDER CEO of Logistic Contractor Head of Sustainability Deputy CEO of
Slide 34: Segment overview last four quarters
Segment overview LAST FOUR QUARTERS RESIDENTAL COMMERCIAL LOGISTICS & INDUSTRY Revenue, SEKm Construction Revenue, SEKm Construction Revenue, SEKm Construction Project dev. Project dev. Project dev. 600 EBIT margin EBIT margin EBIT margin 600 7,00% 5,00% 600 2,7% 5,00% 500 500 500 14,3% 0,00% 3,00%
Slide 35: Development portfolio residential and commercial
Development portfolio RESIDENTIAL AND COMMERSIAL ONGOING PROJECTS Project, Municipality Type No of flats Area (sq.m.) Phase Start of production Completion Höghuset, No 12, Kristianstad Self owned 76 6,074 Production 2019 2021 Tuvebo Smedjan - phase 1, Gothenburg Self owned 58 4,706 Production 2019 2
Slide 36: Upcoming projects
UPCOMING PROJECTS Estimated start of Estimated Project, Municipality Type No of flats Area (sq.m.) Phase production completion Parklyckan, Stockholm Self owned 36 4,026 Zoning plan in effect 2021 2022 Soluret, Malmö Self owned 45 3,240 Zoning plan in effect 2021 2022 Standängen 1 Radhus, Falkenberg