Slide 1: Q3 Report 2024
An entrepreneurial world where people make the difference Bo Annvik, President and CEO Q3 Report 2024 Patrik Johnson, CFO 25 October 2024
Slide 2: Highlights third quarter 2024
Highlights third quarter 2024 ▪ Stable order intake – growth of 4% in total, whereof 2% organically. Net Sales ‒ 4 out of 5 Business Areas grew organically ‒ Strongest demand in Process Industry and Energy 8.0BSEK ▪ Net sales increased 2% in total, organically flat. ▪ EBITA margin stable and high at
Slide 3: Organic order intake growth and stable invoicing
Organic order intake growth and stable 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
Slide 4: Organic sales development – major countries
Organic sales development – 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: Stable and high profitability
Stable and high profitability EBITA & EBITA margin Quarterly growth MSEK Q growth 1,400 16% 10% 1,200 15% 5% 5% 1,000 14% 1% 13% 0% 800 12% -5% 600 -4% -3% 11% 400 -10% 10% 200 9% -15% 0 8% -20% 2020 2021 2022 2023 2024 Organic Acquisitions Divestments Currency Q EBITA Q EBITA margin Q3-24 MARGIN Q
Slide 6: Net Sales by Business Area
Net Sales by Business Area Total growth: 0% -8% +14% 0% +1% ▪ Strongest development in Business Area Life Science 8.0% 7% ▪ Development in Life Science partly driven by sales 6.0% of MedTech products in the Nordics and equipment for pharma production in Denmark 4.0% Q organic growth ▪ Stable and hig
Slide 7: EBITA margin by Business Area
EBITA margin by Business Area EBITA margin development ▪ Organic sales development and slightly higher expenses is the main driver of the EBITA margin decline 20% 17.3% 16.2% 15.9% ▪ Gross margin continued to be higher than 15% 14.8% last year, excluding one-offs. Q EBITA margin 10.8% ▪ Acquisitions
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% No. of acquired companies No. of acquired companies (3 yr avg) Acquired EBITA Acq
Slide 10: Key data summary
Key data summary MSEK 2024-Q3 2023-Q3 Change 2024-YTD 2023-YTD Change Order Intake 7,537 7,262 4% 23,870 23,167 3% Net Sales 7,973 7,851 2% 24,208 24,014 1% Gross margin, % 34.0 34.8 34.8 34.7 EBITA 1,182 1,190 -1% 3,468 3,628 -4% EBITA-margin, % 14.8 15.2 14.3 15,1 Net financial items -143 -134 7%
Slide 11: Cash Flow from operating activities
Cash Flow from operating activities Cash Flow development ▪ Operating cash flow during the quarter MSEK was strong but decreased to SEK 1,019 1,600 160% million (1,227), driven by less favorable 1,400 140% working capital development 1,200 120% ▪ Inventories declined slightly 1,000 100% ▪ Continued
Slide 12: Earnings per share
Earnings per share EPS development ▪ EPS increased 3% in the quarter to SEK SEK SEK 1.92 (1.87) per share 2.5 9 8 ▪ Earnings before taxes declined 2.0 7 somewhat but the lower taxes 6 compensated 1.5 5 ▪ 3- and 5-year rolling 4Q earnings per 1.0 4 share CAGR, were 10% and 13% 3 0.5 2 1 0.0 0 2020 20
Slide 13: Strong financial position
Strong financial position Net debt development ▪ The interest-bearing net debt MSEK decreased since same period last year 12,000 100% to SEK 8,843 million (9,403) 90% 10,000 80% ▪ Net debt/equity ratio was 56% (66%) 8,000 70% ▪ Net debt/EBITDA was 1.6x (1.7x). 60% Excluding earn-out liabilities 1.4x
Slide 14: Leveraging the Business Segment structure
Leveraging the Business Segment structure Rationale Group • Creates scalable organisation – easy to add new acquisitions Technology & Industrial & Infrastructure Process, Energy • Drive market and customer driven Engineering & Construction Life Science & Water Systems Solutions subsector growth agen
Slide 15: Key takeaways
Key takeaways ▪ Organic order growth and stable, high profitability. ▪ Solid financial position and strong cash flow. ▪ 13 acquisitions completed so far in 2024, with combined annual sales of SEK 1.2 billion. ▪ The uncertainty around the general business climate remains, but the diversified structur
Slide 16: Thank you!
Thank you! Indutrade
Slide 17: Financial calendar & contact details
Financial calendar & contact details Year-end Report 2024 AGM Contact: ir@indutrade.com +46 8 703 03 00
Slide 18: Trusted by entrepreneurs
MT indutrade Trusted by entrepreneurs