Munters Group Ab · OMXSTO:MTRS
Munters Group Ab — Q2 2017 Earnings Presentation
23 slides from Munters Group Ab's earnings presentation, 2017
Slide 1: Munters second quarter 2017
Munters second quarter 2017 Continued strong growth in the quarter driven by Data Centers and Air Treatment but with some growing pains
Slide 2: Creating the Perfect Climate in Customers' Mission Critical Applications
Creating the Perfect Climate in Customers’ Mission Critical Applications Munters facilitates approx. 45% of Approx. 1/5 of all electricity cleaned Food in approx. 1/7 of all meals DC cooling consumes almost 1% of lithium-ion battery production in the with Munters equipment grown in installations whe
Slide 3: Q2 2017 – Highlights
Q2 2017 – Highlights • Q2 order intake growth +32% Q2 • Robust order intake growth in core end-markets: SEKm 2017 2016 • Air Treatment sub-segments Industrial, Components and Commercial Order backlog 2 449 2 025 +21% • Data Centers air economizer market Order intake 2 234 1 688 +32% • Continued st
Slide 4: Q2 2017 – Order intake and net sales bridge
Q2 2017 – Order intake and net sales bridge • Organic order intake growth of 25% • Organic net sales growth of 12% Order intake, SEKm Q2 Jan-Jun Net sales, SEKm Q2 Jan-Jun 2017 2 234 3 888 2017 1 723 3 242 2016 1 688 3 305 2016 1 438 2 657 Change 546 +32 583 +18 Change 285 +20 585 +22 Or
Slide 5: Munters Business Areas
Munters Business Areas Air Treatment Data Centers AgHort Mist Elimination 5
Slide 6: Business Areas
Business Areas Net sales per business area and LTM (SEKm) Adjusted EBITA per business area and LTM (SEKm) ME ME 422 49 6% 6% AirT 3 527 AirT AGH 53% 484 AGH 1 787 57% 230 27% 27% DC DC 962 80 14% 10% 6
Slide 7: Q2 2017 – Bridge order intake, SEKm
Q2 2017 – Bridge order intake, SEKm • Order intake growth +32% of which 25% organic driven by Data Centers and Air Treatment 2 500 401 42 8 -20 2 234 • Two large Data Center orders during the quarter, SEKm 275 in the US and SEKm 232 in Europe 2 000 114 • Strong order intake in Air Treatment sub-segm
Slide 8: Q2 2017 – Bridge net sales, SEKm
Q2 2017 – Bridge net sales, SEKm • Net sales growth +20% of which 12% organic 1 800 • High growth in Data Center air economizer market and Air 38 1 2 1 703 113 Treatment sub-segments Industrial, Commercial and 1 600 111 Components 1 438 1 400 • Service net sales increased by 11% in the quarter 1 200
Slide 9: Q2 2017 – Bridge Adjusted EBITA, SEKm
Q2 2017 – Bridge Adjusted EBITA, SEKm • Adjusted EBITA growth in Air Treatment 250 • Adjusted EBITA impacted by low factory utilization in Data Centers as well as from low volumes in AgHort and Mist 6 -1 -9 Elimination 200 194 -9 8 190 150 100 50 0 Q2 AirT DC AGH ME Other Q2 2016 2017 9
Slide 10: First six months 2017 – summary
First six months 2017 – summary • Order intake increased by 18% of which 11% organically Jan-Jun LTM Full year • Net sales increased by 22% of which 15% organically SEKm 2017 2016 Jul-Jun 2016 • Adjusted EBITA increased by 7% to SEKm 337 (314), Order backlog 2 449 2 025 2 449 1 741 corresponding to
Slide 11: A perfect climate for immunity
A perfect climate for immunity 11
Slide 12: Q2 2017 – Air Treatment
Q2 2017 – Air Treatment • Strong order intake and net sales in Q2 with growth of 12% and Q2 Jan-Jun 14% respectively with key sub-segments Industrial, Commercial and Components all showing robust growth SEKm 2017 2016 2017 2016 • High demand and orders in lithium-ion battery production, food, Ext
Slide 13: A perfect climate for social media
A perfect climate for social media 13
Slide 14: Q2 2017 - Data Centers
Q2 2017 - Data Centers • Order intake increased by 256% including a SEKm 275 order in Q2 Jan-Jun the US and a SEKm 232 order in Europe SEKm 2017 2016 2017 2016 • Net sales increased by 131% with deliveries to digital customers in the US and co-location customer in Europe External order backlog 64
Slide 15: A perfect climate for breakfast
A perfect climate for breakfast 15
Slide 16: Q2 2017 - AgHort
Q2 2017 - AgHort • Order intake and net sales increased by 8% supported by positive currency effects and acquisitions of MTech Systems and Q2 Jan-Jun Edata SEKm 2017 2016 2017 2016 • Demand impacted by lower investment levels in the industry, External order backlog 490 375 31 490 375 mainly in th
Slide 17: A perfect climate for power
A perfect climate for power 17
Slide 18: Q2 2017 - Mist Elimination
Q2 2017 - Mist Elimination • Order intake increased by 8% driven by structural effects Q2 Jan-Jun • Net sales increased by 1% with structural effects of +6%. Growth SEKm 2017 2016 2017 2016 impacted by continued weak demand for replacement projects in Coal FGD in the US External order backlog 145
Slide 19: Q2 2017 – Cash flow
Q2 2017 – Cash flow • Cash flow from operating activities increased to SEKm 86 (19) • Decreased working capital of SEKm 23 (-87) • CapEx of SEKm -32 (-37) and in line with plan 19
Slide 20: H1 2017 acquisitions
H1 2017 acquisitions • Mtech Systems: February 1, 2017 • AgHort software systems • Reinforces Munters´ capabilities in software and IoT • Purchase price of SEKm 222 (60% of shares with option to purchase remaining 40%) • Net sales of SEKm 140 (FY 2016) • Kevin Enterprises: April 1, 2017 • Mist Elimi
Slide 21: Q2 2017 - Summary
Q2 2017 - Summary • Strong underlying order intake and net sales driven by high demand in focus areas • Adjusted EBITA impacted by low factory utilization caused by project phasing in Data Centers as well as lower volumes in AgHort and Mist Elimination • Due to the lumpy nature and phasing of the Da
Slide 22: Munters in short
Munters in short 19 plants ~3,500 employees Sales in ~180 countries 11 countries Over 275 patents and Net sales SEKm 6,625 60+ years patent applications Adj. EBITA margin 12,1% 22
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