Slide 1: Q2 Report 2024
An entrepreneurial world where people make the difference Bo Annvik, President and CEO Q2 Report 2024 Patrik Johnson, CFO 18 July 2024
Slide 2: Highlights second quarter 2024
Highlights second quarter 2024 ▪ Stable order intake – growth of 6% in total, whereof 1% organically. Net Sales ‒ Continued good demand in Medical technology & Pharmaceutical and Process Industry. ▪ Net sales increased 5%, organically 1% despite strong 8.5BSEK references. ▪ EBITA margin of 14.8%, sa
Slide 3: Stable demand and increased invoicing
Stable demand and increased invoicing Order intake Net Sales MSEK MSEK 9,000 30% 9,000 30% 8,000 25% 8,000 25% 20% 20% 7,000 7,000 15% 15% 6,000 6,000 10% 10% 5,000 5,000 5% 5% 4,000 4,000 0% 0% 3,000 -5% 3,000 -5% 2,000 -10% 2,000 -10% 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 Q Order intak
Slide 4: YoY organic Sales Growth – major countries
YoY organic Sales Growth – major countries Nordics Rest of Europe Rest of the world Sweden Benelux North America Denmark UK/Ireland Asia Finland Germany Norway Switzerland & Austria Total Nordics Total Rest of Europe Total Rest of the world 4
Slide 5: EBITA margin recovered
EBITA margin recovered EBITA & EBITA margin Quarterly growth MSEK Q growth 1,400 16% 10% 1,200 15% 5% 14% 5% 0% 0% 1,000 -2% 13% 0% 800 12% -5% 600 11% 400 -10% 10% 200 9% -15% 0 8% -20% 2020 2021 2022 2023 2024 Organic Acquisitions Divestments Currency Q EBITA Q EBITA margin Q2-24 MARGIN Q GROWTH Y
Slide 6: Net Sales by Business Area
Net Sales by Business Area Total growth: 3% -4% 10% +4% +12% ▪ Strongest development in Business Areas Life Science and Technology & Systems 3.5% Solutions 3.0% 3% 3% ▪ Development in Life Science driven by sales of 2.5% MedTech products in the Nordics and equipment 2.0% for pharma production in Den
Slide 7: EBITA margin by Business Area
EBITA margin by Business Area EBITA margin development ▪ EBITA margin improved in three Business Areas with strongest improvement in Technology & Systems Solutions 20% 18.2% 17.4% 16.4% ▪ Improved gross margin but a dampened 15% 14.8% overall organic development Q EBITA margin 11.6% ▪ Acquisitions a
Slide 8: High acquisition pace
High acquisition pace Acquisitions 2024 Business Area Annual Sales pure! GmbH Industrial & Engineering 110 MSEK SDT Scandinavian Drive Technologies AB Industrial & Engineering 55 MSEK Q1 MeHow Medical Ireland Ltd. Life Science 160 MSEK Atline ApS Life Science 60 MSEK Hemomatik AB Technology & System
Slide 9: Successful acquisition track record
Successful acquisition track record No. of acquired companies per year Quarterly financial effects acquisitions* 18 100 25% 16 90 14 80 20% 70 12 EBITA (MSEK) EBITA margin 60 15% 10 50 8 40 10% 6 30 4 20 5% 2 10 0 0 0% Acquired EBITA Acquired EBITA margin Acquired EBITA margin (avg 4Q) No. of acquir
Slide 10: Key data summary
Key data summary MSEK 2024-Q2 2023-Q2 Change 2024-YTD 2023-YTD Change Order Intake 8,296 7,829 6% 16,333 15,905 3% Net Sales 8,491 8,100 5% 16,235 16,163 0% Gross margin, % 35.4 34.6 35.2 34.6 EBITA 1,253 1,213 3% 2,286 2,438 -6% EBITA-margin, % 14.8 15.0 14.1 15,1 Net financial items -140 -122 15%
Slide 11: Cash Flow from operating activities
Cash Flow from operating activities Cash Flow development ▪ Operating cash flow during the quarter MSEK decreased slightly to SEK 1,029 million 1,600 160% (1,112), driven by less favorable 1,400 140% working capital development 1,200 120% ▪ Inventories declined slightly 1,000 100% ▪ Strong cash conv
Slide 12: Earnings per share
Earnings per share EPS development ▪ EPS increased 1% in the quarter to SEK SEK SEK 2.00 (1.99) per share 2.5 9 8 ▪ Driven by higher EBITA but dampened 2.0 7 slightly by increased interest costs and 6 amortizations 1.5 5 ▪ 3- and 5-year rolling 4Q earnings per 1.0 4 share CAGR, were 12% and 14% 3 0.
Slide 13: Strong financial position
Strong financial position Net debt development ▪ The interest-bearing net debt MSEK increased since last quarter to SEK 12,000 100% 9,490 million (10,166), mainly due to 90% 10,000 dividend pay out 80% 8,000 70% ▪ Net debt/equity ratio was 63% (74%) 60% ▪ Net debt/EBITDA was 1.7x (1.9x). 6,000 50% 4
Slide 14: Sustainability as a business opportunity
Sustainability as a business opportunity INDUTRADE SUSTAINABILITY AWARDS 2024 People Environment Updated targets to be validated and approved by SBTi Products & Customers 14
Slide 15: Key takeaways
Key takeaways ▪ Stable demand and increasing net sales, despite challenging references. ▪ Solid EBITA margin and cash flow. ▪ High acquisition pace – 12 acquisitions so far in 2024, with combined annual sales of SEK 1.1 billion. ▪ The uncertainty around the general business climate remains for the s
Slide 16: Thank you!
Thank you! Indutrade
Slide 17: Financial calendar & contact details
Financial calendar & contact details Interim Report Q3 2024 Year-end Report 2024 Contact: ir@indutrade.com +46 8 703 03 00
Slide 18: Trusted by entrepreneurs
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