Slide 1: Instalco Q4 presentation
Instalco Q4 presentation 18 February 2021 1
Slide 2: This is Instalco
This is Instalco • A leading Nordic installation group within heating and plumbing, electrical, ventilation, cooling, industry and technical consulting • 85+ subsidiaries – highly specialised local companies • 3 900 employees • Highly decentralised structure • Supported by a small central organisati
Slide 3: Key financials, LTM
Key financials, LTM Net sales, million SEK Order backlog, million SEK 7.122 6.625 Adjusted EBITA, million SEK Adjusted EBITA margin, % 625 8,5 No of employees (31 December) Acquired annual sales, million SEK 3,856 1.442 3
Slide 4: Q4 2020 Highlights
Q4 2020 Highlights • Strong quarter Key financials Q4 2020 • High organic growth, 8,1% Net sales 2,078 • Net sales growth 25.8% • High cash flow, SEK 277 million SEK million • Segment Sweden very strong – segment Rest of Nordic still somewhat slow Adjusted EBITA 193 • Growth in industry discipline •
Slide 5: Net sales growth (SEK million)
Net sales growth (SEK million) 135 -32 323 5
Slide 6: Order backlog
Order backlog 7000 • Growth of 36.2% (compared 6000 with Q4 2019) • Continued stable order 5000 backlog ratio of 0.93x (relative to 12 months rolling net 4000 sales) 3000 2000 1000 0 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 6
Slide 7: Examples of projects in Q4
Examples of projects in Q4 Lören Botaniska, Mora Hospital, Lippulaiva shopping Oslo, Norway Sweden centre, Esbo, Finland • Romerike Elektro • EKTK • LVI-Paavola and Twinputki • Electrical • Electrical power installations in new system and • Heating & plumbing apartment complex receiving station and
Slide 8: Technical Consulting new discipline; Expansion of industry discipline
- Technical Consulting new discipline - Expansion of industry discipline • Technical Consulting: Project planning • Industry discipline: Three acquisitions and design • Broadening our industry offering • Inspection, coordination of installations, • Seven subsidiaries environmental set up, risk manag
Slide 9: M&A: Selek and HP Welding
M&A Selek, Avesta, Sweden HP Welding, Sundsvall, Sweden • Specialised in installations of electric • Heavy industry installations power and electrical instruments in industrial environments • Specialised in the installation of process • Largest customers: Stockholm Exergi, equipment for industrial c
Slide 10: Acquisitions 2020
Acquisitions 2020 Acquisition Discipline Segment Estimated yearly sales (SEKm) Acquired Elinstallationer Ullsand Bengtsson AB Electrical Sweden 69 Q1 Haug og Ruud VVS AS Heating & Plumbing Rest of Nordics 71 Q1 Östersjö Elektriska AB Electrical Sweden 25 Q1 Avent Group Ventilation Sweden 108 Q2 Norr
Slide 11: Segment development - Sweden
Segment development - Sweden • Very strong and solid results by the Key financials Q4 2020 Swedish operations Net sales • Stable demand for technical installations • Organic growth 12.1% • Net sales growth 31.7% SEK 1,629 million • Order backlog growth of 44.0% whereof EBITA EBITA margin 167 10.2 20
Slide 12: Segment development – Rest of Nordics
Segment development – Rest of Nordics • Net sales growth 8.0% Key financials Q4 2020 • Order backlog growth of 10.2% Net sales 449 • Result below desired level - partly due to Corona pandemic SEK million • Continued work with action plan for higher margins EBITA EBITA margin SEK 25 million 5.7 % Ord
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Slide 14: Suggesting and installing the most sustainable solutions for the future
Suggesting and installing the most sustainable solutions for the future • Solar panels • Wastewater heat exchanges • Energy savings programs • LED lighting • Property automation • Charging stations • Heat pumps • Air cleaning and water cleaning
Slide 15: Financial targets and dividend policy
Financial targets and dividend policy Area Target Comment Status • Average sales growth should be at least 10% per year over a Growth business cycle 25.1% (28.9%) • Growth will take place both organically and through acquisitions Margin • Instalco aims to deliver an adjusted EBITA margin of 8.0% 8.8
Slide 16: Summary
Summary Strong and solid quarter despite covid-19 situation Growth in industry discipline Technical consulting new business area Four acquisitions Difficult to assess the future market 16
Slide 17: INSTALCO
INSTALCO i) Whar you Aj GET IS WHAT YOU SEE TAKE ME TO THE RIVER THE TINA TURNER MONTAGE MIX 17
Slide 18: INSTALCO
INSTALCO 18