Nyab Ab · OMXSTO:NYAB
Nyab Ab — FY2023 Earnings Presentation
18 slides from Nyab Ab's earnings presentation, February 2024
Slide 1: Result presentation January-December 2023
Result presentation January- December 2023 1
Slide 2: Today's presenters
Today’s presenters Johan Larsson Aku Väliaho CEO CFO 2
Slide 3: NYAB 2023: Strong growth in cash flow and order backlog
NYAB 2023: Strong growth in cash flow and order backlog Revenue Revenue growth +16.6% in 280.4 MEUR (253.3) constant currencies EBIT margin EBIT margin at healthy level despite 5.4% (10.2%) macroeconomic challenges Free cash flow 22.3 MEUR (3.7) Free cash flow growth 603% Order backlog 294.7 MEUR (2
Slide 4: Revenue splits
Revenue splits Sectors Regions & customers Revenue share* Revenue share Finland Sweden 33% 67% 43% (55%) 2022: Finland 24%, Sweden 76% Infrastructure 34% (25%) Private Public Energy sector sector 46% 54% 2022: Private ~30%, Public ~70% 22% (20%) Industrial *Unaudited 4
Slide 5: Operational and financial highlights
Operational and financial highlights Full-year 2023 696 0.014 Revenue per employee FY’23, EURk Profit distribution proposal, EUR/share1) 61% 1.91 Order book growth Q-O-Q, % Group LTIF4 5.63 403 Net cash position, MEUR Headcount 1) Proposal to AGM, to be distributed as capital repayment. Profit distr
Slide 6: Selection of new projects 2023
Selection of new projects 2023 Infrastructure Energy Industrial • Project for Swedavia regarding the • NYAB’s largest contract ever signed with • Project for Talga, establishing a new widening of taxi runways conducted at Svenska kraftnät regarding the battery anode refinery, started in Luleå Stockh
Slide 7: Underlying market driven by global mega trends
Underlying market driven by global mega trends ▪ Significant growth of RES expected coming 10 years leads to substantial Green transition investments stress on already underinvested electricity transmission capacity RES power production SE/FIN1) Green transition ▪ Climate change exerts stress on cur
Slide 8: Q4'23 highlights
Q4’23 highlights ▪ Stable performance with improving underlying Revenue profitability despite tough market conditions 87.8 MEUR (89.8) ▪ Revenue growth 1.3% in constant currencies EBIT ▪ Good performance in order intake resulted in all-time high backlog at the end of the year of 6.6 MEUR (19.2) EUR
Slide 9: Stable performance Q4'23 with growth in constant currencies
Stable performance Q4’23 with growth in constant currencies Comments Revenue development Revenue splits Q4’23 EUR million Finland 29% Sweden ▪ Revenue growth in constant currencies 90,3 89,9 71% 88,1 87,8 1.3%, reported growth -2.1% ▪ Weather conditions affected Q4 Revenue by revenue recognition reg
Slide 10: Solid profitability performance in Q4'23
Solid profitability performance in Q4’23 Comments EBIT development EUR million ▪ EBIT margin 7.5% (21.4%) ▪ Comparison period benefitted from 19,2 Skarta Energy sales gain that had +16.3% effect. Underlying margin improved hence by +2.5 p.p. ▪ Year-end impairment to PPA intangible assets EUR 0.5 (0.
Slide 11: Largest end of the year backlog of all-time
Largest end of the year backlog of all-time Comments Order backlog development EUR million ▪ Order backlog growth 23.0% y-o-y, 60.8% q-o-q 305,0 294,7 ▪ Stabilization of the macroeconomic 267,7 environment towards the end of the 252,0 239,7 235,0 year resulted in a significant order intake during Q4
Slide 12: Strong growth in cash flow and a very solid financial position in Q4'23
Strong growth in cash flow and a very solid financial position in Q4’23 Comments Free cash flow Net debt/EBITDA (previous 12 months) EUR million EUR million (x) 0,33x 16,8 0,30x ▪ Free cash flow growth 76.5% y-o-y, full year FCF growth 6x 0,23x 0,19x ▪ Ended year in net cash position EUR 9,5 8,4 5.6
Slide 13: Long-term financial targets and past performance
Long-term financial targets and past performance Long-term financial targets FY 2023 Annual revenue growth >10% 10.7% Close to ten years of uninterrupted and constantly EBIT margin >7.5% 5.4% profitable growth Financial performance, NYAB EURm 253.3 Net debt / EBITDA <1.5x -0.26x 10.6% 11.8% 201.7 10
Slide 14: Summary
Summary ▪ NYAB accomplished great progress during 2023, developing both core business and its support functions ▪ Strong revenue growth in constant currencies of 16.6%, while maintaining, healthy margins and achieving a significant improvement in free cash flow ▪ Preparations for the listing on Nasd
Slide 15: Appendix
Appendix Consolidated statement of income Consolidated balance sheet Consolidated cash flow statement 16
Slide 16: Consolidated statement of income
Consolidated statement of income EUR thousand 10-12/2023 10-12/2022 7-12/2023 7-12/2022 1-12/2023 1-12/2022 Revenue 87 848 89 765 175 946 180 113 280 417 253 318 Other operating income 321 14 955 609 15 364 3 418 16 019 Materials and services -67 071 -70 201 -134 152 -144 103 -217 957 -203 612 Emplo
Slide 17: Consolidated balance sheet
Consolidated balance sheet EUR thousand 12/2023 12/2022 EUR thousand 12/2023 12/2022 EQUITY AND LIABILITIES ASSETS Equity attributable to owners of the parent company Non-current assets Share capital 80 80 Goodwill 121 189 121 182 Reserve for invested non-restricted equity 137 428 142 375 Intangible
Slide 18: Consolidated cash flow statement
Consolidated cash flow statement EUR thousand 10-12/202310-12/2022 7-12/2023 7-12/2022 1-12/2023 1-12/2022 EUR thousand 10-12/202310-12/2022 7-12/2023 7-12/2022 1-12/2023 1-12/2022 Cash flows from operating activities Cash flows used in investing activities Result for the period 3 564 19 318 8 131 2