Indutrade Ab · OMXSTO:INDT
Indutrade Ab — Q1 2023 Earnings Presentation
21 slides from Indutrade Ab's earnings presentation, Apr 27, 2023
Slide 1: Q1 Report 2023
An entrepreneurial world where people make the difference Bo Annvik, President and CEO Q1 Report 2023 Patrik Johnson, CFO 27 April 2023
Slide 2: Highlights first quarter 2023
Highlights first quarter 2023 ▪ Stable and high demand levels – order intake up 14% in total of which 3% organically. Net Sales ‒ Strong order development in Energy, Engineering and process industries. Med tech & pharma segment on a continued high level. ▪ Strong sales, above SEK 8 billion for the f
Slide 3: Order intake
Order intake QUARTERLY GROWTH MSEK Q growth 9 000 30 000 9% 8% 8 000 7% 8% 25 000 7 000 6% 6 000 5% 20 000 5 000 4% 3% 4 000 3% 15 000 2% 3% 3 000 1% 0% 2 000 10 000 0% 2018 2019 2020 2021 2022 2023 Organic Acquisitions Divestments Currency Q Order intake R12M Order intake Q GROWTH YTD GROWTH R3Y CA
Slide 4: Net sales
Net sales QUARTERLY GROWTH MSEK Q growth 9 000 30 000 14% 8 000 12% 13% 25 000 10% 7 000 6 000 8% 9% 20 000 5 000 6% 4 000 4% 15 000 4% 3 000 2% 0% 2 000 10 000 0% 2018 2019 2020 2021 2022 2023 Organic Acquisitions Divestments Currency Q Net sales R12M Net sales Q GROWTH YTD GROWTH R3Y CAGR 8,063 MS
Slide 5: Sales Growth – major countries
Sales Growth – major countries ++ +++ ++ ++ +++ ++ ++ North America ++ +++ Asia - 5 + = Organic growth Q123 vs Q122
Slide 6: Organic Sales Growth trend
Organic Sales Growth trend 20% ▪ Organic growth ten consecutive quarters 15% ▪ Stable high growth rate 10% ▪ Combination of volume and price 5% ▪ Organic growth in all Business Areas and most companies 0% ▪ Strong order back-log -5% -10% 2018 2019 2020 2021 2022 2023 Organic growth Organic growth 5
Slide 7: EBITA
EBITA QUARTERLY GROWTH MSEK Q growth 1 400 18% 16% 16% 14% 1 200 14% 14% 12% 1 000 12% 10% 800 10% 10% 8% 600 8% 6% 6% 400 4% 4% 200 2% 2% 4% 0% 0 0% 0% 2018 2019 2020 2021 2022 2023 Organic Acquisitions Divestments Currency Q EBITA Q EBITA margin Q1-23 MARGIN Q GROWTH YTD GROWTH 1,225 MSEK 15.2% +2
Slide 8: Organic sales growth Q1 by Business Area
Organic sales growth Q1 by Business Area Total growth: +48% +24% +9% +27% +30% +19% +33% +4% ▪ Organic sales growth in all Business Areas 30% ▪ Strongest growth in Business Areas 25% Benelux and Flow Technology 25% ▪ Positive development in all segments and 23% 20% almost all companies Q organic gro
Slide 9: EBITA margin by Business Area
EBITA margin by Business Area 20% ▪ Around half of the companies increased 18% 17,7% 17,2% their EBITA-margin versus last year 16,3% 16,1% 16% 15,3% 14,5% 14% 13,1% ▪ High and stable gross margins but higher 12,0% activity and expense levels dampens Q EBITA margin 12% margin development in many 10%
Slide 10: Acquisitions
Acquisitions Acquisitions 2023 Business Area Annual Sales Sax Lift A/S FMS 130 MSEK Q1 Hobe GmbH DACH 80 MSEK Siersema Komponenten Service B.V. Benelux 390 MSEK Q2 Safematic A/S FMS 55 MSEK Total 655 MSEK 10
Slide 11: Successful acquisition track record
Successful acquisition track record No. of acquired companies per year Quarterly financial effects acquisitions* 18 100 25,0% 16 90 14 80 20,0% 12 70 EBITA (MSEK) EBITA margin 60 15,0% 10 50 8 40 10,0% 6 30 4 20 5,0% 2 10 0 0 0,0% No. of acquired companies No. of acquired companies (3 yr avg) Acquir
Slide 12: Key data summary
Key data summary MSEK 2023-Q1 2022-Q1 Change Order Intake 8,076 7,085 14% Net Sales 8,063 6,398 26% Gross margin, % 34.6 34.6 EBITA 1,225 959 28% EBITA-margin, % 15.2 15.0 Net financial items -98 -35 180% Tax -229 -176 30% Earnings per share (before dilution), SEK 2.06 1.75 18% Return On Capital Emp
Slide 13: Cash Flow from operating activities
Cash Flow from operating activities MSEK ▪ Operating cash flow during the quarter 1 000 was 632 (276) MSEK 900 800 ▪ The increase versus last year was 700 mainly related to the higher result and 600 a lower working capital build up 500 ▪ Inventory continued to increase slightly 400 due to the mainta
Slide 14: Earnings per share
Earnings per share SEK SEK ▪ EPS during the quarter grew 18% to 2,5 9 SEK 2.06 (1.75) per share 8 2,0 ▪ Improvements mainly driven by higher 7 EBITA 6 1,5 5 ▪ 3- and 5-year rolling 4Q earnings per 4 share CAGR, were 22% and 21% 1,0 3 0,5 2 1 0,0 0 2018 2019 2020 2021 2022 2023 Q EPS R4Q EPS 14
Slide 15: Net debt
Net debt SEK ▪ The interest-bearing net debt 10 000 120% increased to 9,390 (5,766) MSEK 9 000 8 000 100% ▪ The increase compared to last year is 7 000 mainly due to a continued high 80% 6 000 acquisition pace and a slightly 5 000 60% dampened operational cash flow 4 000 40% ▪ Net debt/equity ratio
Slide 16: Focus areas for continued development of our strategic platform
Focus areas for continued development of our strategic platform Knowledge- Decarbonisation People Professional Scalability sharing as a business development opportunity ownership • Leadership development • Indutrade Portal • Company CO2 reductions • Operational • Management structures • Indutrade Ac
Slide 17: Significant progress within sustainability
Significant progress within sustainability ✓ Further development of our sustainability strategy, targets and KPIs ✓ Further development of the process for monitoring business areas and the sustainability performance of our companies ✓ More focus on climate as a strategic focus area via additional tr
Slide 18: Key takeaways
Key takeaways ▪ New record quarter with continued profitable growth! ▪ Demand remained high and stable. Continued variations between companies ▪ Strong sales and profit growth with record Q1 EBITA margin ▪ Large, high quality order backlog gives confidence for the sales and earnings trend in the nea
Slide 19: Thank you!
Thank you! Indutrade
Slide 20: Financial calendar & contact details
Financial calendar & contact details Interim Report 1 January – 30 June 2023 Interim Report 1 January – 30 September 2023 Year-end report 2023 Contact: ir@indutrade.com +46 8 703 03 00
Slide 21: Trusted by entrepreneurs
MT indutrade Trusted by entrepreneurs