Fasadgruppen Group Ab · OMXSTO:FG
Fasadgruppen Group Ab — Q3 2024 Earnings Presentation
11 slides from Fasadgruppen Group Ab's earnings presentation, Oct 31, 2024
Slide 1: 9M-2024 Results Conference Call 31 October 2024
9M-2024 RESULTS CONFERENCE CALL 31 OCTOBER 2024
Slide 2: Highlights Third Quarter 2024
HIGHLIGHTS THIRD QUARTER 2024 ▪ No large market changes since Q2; Competitive situation in Sweden still tough ▪ Improved earnings development compared to H1 2024 ▪ Mixed development in order backlog, somewhat better tender environment after summer ▪ Two new acquisitions during the quarter ▪ Net debt
Slide 3: Net Sales
NET SALES MSEK Q3 2024 +6.9% ▪ Total decrease of 4.5% -9.9% -1.5% ▪ Revenues down 9.9% organically* -4.5% net sales growth ▪ Swedish operations continue to decline ▪ Norway and Finland exhibited organic growth MSEK, quarter MSEK, LTM 1600 6000 ▪ Denmark slightly down 1200 4000 800 2000 400 +30.2% CA
Slide 4: Adjusted EBITA
ADJUSTED EBITA Q3 2024 2024 2023 2024Q3 2023 ▪ Adjusted EBITA margin at 7.7% (9.4%) Q3 Q3 Δ 12m 12m Δ SEK million Adjusted EBITA 92.8 118.5 -21.6% 322.2 448.0 -28.1% ▪ Increased earnings in Norway and Denmark Adj. EBITA margin 7.7% 9.4% 6.5% 8.8% ▪ Positive impact from measures taken earlier this ye
Slide 5: Order Backlog
ORDER BACKLOG MSEK 30 SEP 2024 +3.4% ▪ Order backlog decrease of 21% organically -20.7% -1.4% ▪ Comparison quarter was at historically high levels -18.7% order backlog growth ▪ Increasing organic backlog in Denmark and Finland ▪ Order backlog margin somewhat higher than Q3 2023 and stable compared t
Slide 6: Cash Flow
CASH FLOW Q3 2024 2024 2023 2024Q3 2023 ▪ Improved working capital, measures having effect Q3 Q3 Δ 12m 12m Δ SEK million Operating cash flow 126.3 144.7 -12.7% 446.7 547.6 -18.4% ▪ Cash conversion above target of 100% LTM Δ Working capital 39.4 17.5 138.8 123.9 Cash conversion 109.1% 103.5% 103.7% 1
Slide 7: Financial Capacity and Net Debt
FINANCIAL CAPACITY AND NET DEBT 30 SEP 2024 SEK million 30 Sep 2024 31 Dec 2023 ▪ Average interest rate Jan-Sep 2024: Interest-bearing debt 1,820.4 1,539.7 ~6.0% (~4.6%) Lease liabilities (+) 190.9 168.1 Cash and cash equivalents (-) 382.5 467.6 ▪ Interest period of 1-3 months Total interest-bearing
Slide 8: New Acquisitions Q3 2024
NEW ACQUISITIONS Q3 2024 Brenden JE:s Svets & Smide ▪ Leading scaffolding company in Oslo ▪ Steel structures and building forging with high degree of specialisation ▪ 2nd generation family business with well- established customer portfolio ▪ Acquisition through existing subsidiary GAJ; Together, GAJ
Slide 9: Acquisition of Clear Line Announced on 29 Oct
ACQUISITION OF CLEAR LINE ANNOUNCED ON 29 OCT A CLEAR VALUE-ADD ▪ Founded in 1997, ~60 employees (white-collar) ▪ HQ in Sheffield, with projects carried out all over UK ▪ Experienced management team and highly skilled workforce ▪ Strong reputation in complex high rise and façade fire remediation pro
Slide 10: Concluding Remarks
CONCLUDING REMARKS BUILDING FOR THE FUTURE ▪ Improved earnings development and strong cash conversion ▪ Tough competitive situation in Sweden remains, stable to positive development in all other markets ▪ Plenty of M&A opportunities Capital Markets Day on 7 November, please register via https://corp
Slide 11: Q&A
Q&A PRESENTATION MATERIAL IS AVAILABLE AT CORPORATE.FASADGRUPPEN.SE