Qleanair Ab · OMXSTO:QAIR
Qleanair Ab — Q2 2024 Earnings Presentation
29 slides from Qleanair Ab's earnings presentation, Aug 9, 2024
Slide 1: QleanAir
G QleanAir
Slide 2: QleanAir Investor Presentation Q2 2024
QleanAir Investor Presentation Q2 2024
Slide 3: Premium CleanTech solutions for indoor air cleaning
Premium CleanTech solutions for indoor air cleaning Sebastian Lindström Henrik Resmark CEO CFO Speakers 3 QLEANAIR | Q2 INTERIM REPORT 2024
Slide 4: Q2 in summary – Strong cash-flow despite a weak quarter
Q2 in summary – Strong cash-flow despite a weak quarter 115 (135) 74 (78) Net sales, SEK millions Recurring revenues, SEK millions § APAC – fewer 63 (68) contracts were scheduled for renewal and FX 1.4 (15.6) effect – topline Gross-margin, % (adj 2023) EBIT-margin, % (adj 2023) SEK –16 millions. § E
Slide 5: Q2 – Weak quarter in APAC, stable performance in EMEA and Americas
Q2 – Weak quarter in APAC due to the cycle of rental contracts to finance companies, stable performance in EMEA and Americas APAC – a weak quarter EMEA – stable performance AMERICAS – challenging market § Q2 Sales SEK 47 (63) million, -26%, fx § Q2 Sales SEK 55 (57) million, -3% § Q2 Sales SEK 13 (1
Slide 6: Doing the right activities within the organization – top three priorities
Doing the right activities within the organization will increase the financial results – top three priorities Cost control Sales efficiency Customer focus § Cost improvement project all § Focus on France, Sweden and Germany. § Key new product introductions planned for September regions. across all p
Slide 7: What are the right activities?
What are the right activities? 1. Continuation of turning stones to operationally improve 2. Selective focused market expansion (France and key customer lead expansion) 3. Product development in the short to medium term closely tied to existing customer base to yield faster results (Oilmist and furt
Slide 8: QleanAir targets several layers of the customers' needs
QleanAir target several layers of the customers’ needs - HVAC HVAC (Heating, ventilation, and air conditioning) Secondary filtration Secondary filtration Primary filtration Primary filtration Particle Source Particle Source QLEANAIR | Q2 INTERIM REPORT 2024
Slide 9: We are specialists in indoor air quality, our products are very versatile
We are specialists in indoor air quality, our products are very versatile Means that we can control filtration, pressure, airflows, velocity and directions, and that we can verify the result through measurements (controlled area), our products is our toolbox to create solutions. Positive pressure Ne
Slide 10: The strength of our circular business model
The strength of our circular business model “A number of § Geographical mix -> EMEA, APAC, Americas measures § Product mix -> 3 product categories have been § Customer base -> more than 3 500 initiated that customers we expect to § Regional supply chains -> EMEA, APAC, yield results.” Americas § Hig
Slide 11: Financial update
Financial update Henrik Resmark, CFO 11
Slide 12: Q2 by region
Q2 by region >3 500 Customers AMERICAS EMEA APAC o 11% (11%) of sales o 48% (42%) of sales o 41% (47%) of sales o Cleanrooms o All three product o Cabin Solutions and Air categories Cleaners 12 QLEANAIR | Q2 INTERIM REPORT 2024
Slide 13: Weak net sales & profitability in Q2
Weak net sales & profitability in Q2 Sales & recurring revenues Profitability 100 92 86 83 82 82 160 80 73 140 135 60 71 68 67 67 69 63 121 124 124 40 119 120 115 20 0 100 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 78 76 79 80 74 75 74 Gross profit, SEKm Gross margin % 25 60 21 20 17 17 40 15 12 16 10 10 1
Slide 14: Stable rental revenues from units in own balance sheet, service & maintenance contracts
Stable rental revenues from units in own balance sheet, service & maintenance contracts 310 299 306 307 304 10000 282 285 9000 260 Per Unit ARR >5x Value in Balance Sheet 8000 Book Value, MSEK Book Value/Unit, SEK ARR/Unit, SEK 210 7000 June 50.3 ≈ 10 500 ≈ 63 400 6000 160 5283 5288 5305 5238 5235 2
Slide 15: Revenue split & installed base
Revenue split & installed base Revenue split Development of the installed base SEKm Units 160 14 000 140 12 000 19 120 12 21 16 16 10 000 5 234 5 306 5 469 5 561 16 4 988 5 646 100 39 35 30 27 28 8 000 25 80 1 877 1 879 1 927 1 989 1 943 6 000 1 916 60 4 000 40 78 76 79 75 74 74 5 283 5 288 5 305 5
Slide 16: Long cycle of revenue split
Long cycle of revenue split Revenue split 160 140 43 19 120 29 12 21 16 18 16 12 12 19 8 13 16 100 16 33 14 18 39 35 30 32 27 28 41 30 25 38 36 30 27 31 80 26 30 24 20 60 40 78 76 79 70 71 74 75 74 64 65 65 65 65 64 68 65 69 67 20 0 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q
Slide 17: Balance sheet and cash flow
Balance sheet and cash flow § Net debt/equity ratio 0.8 (0.9), and equity ratio 32% (29%) § Continue to amortize quarter by quarter according to plan § Dividend paid out SEK 8.9 million in May 17 QLEANAIR | Q2 INTERIM REPORT 2024
Slide 18: Cleaned air in billion cubic meters per month
Cleaned air in billion cubic meters per month, -1% compared to end of second quarter last year BCM 8,0 # 1 Human health challenge 7,2 7,1 7,0 Air pollution is the primary environmental challenge 6,4 for human health. 6,0 5,4 7 million 5,0 4,3 Around 7 million people die prematurely every year from e
Slide 19: Q&A
Q&A Sebastian Lindström, CEO Henrik Resmark, CFO
Slide 20: Communicated financial targets remain untouched
Communicated financial targets remain untouched We have; great products, a very knowledgeable and strong team on board and some of the most demanding clients of the industry. Our previously communicated financial targets will remain untouched. • Average annual rate of organic growth of approximately
Slide 21: Thank you!
Thank you!
Slide 22: Appendix
Appendix
Slide 23: The freedom of clean air – Position, Purpose
The freedom of clean air Position The freedom of clean air is the § The specialized provider of premium clean promise that we bring to our air solutions. customers. Purpose § Making a real difference through clean air. Promise § The freedom of clean air is what we bring to our customers.
Slide 24: In summary QAIR
In summary QAIR Unique premium indoor > 3 500 corporate Asset light business air cleaning service based customers mainly located Pioneers in air cleaning model with an increasing on circular, rental in Europe, Japan and the technology with high number of units installed contracts USA barriers to ent
Slide 25: Largest shareholders
Largest shareholders 25 QLEANAIR | Q2 INTERIM REPORT 2024
Slide 26: Board of directors
Board of directors Bengt Engström Fredrik Persson Jan-Olof Backman Dan Pitulia Sara Uhlén Chairman Board member Board member Board member Board member Born 1953 Born 1984 Born 1975 Born 1961 Born 1956 Position Chairman since Position: Board member since Position: Board member since Position Board me
Slide 27: Senior management
Senior management Sebastian Lindström Henrik Resmark CEO CFO Born 1965 Born 1969 Position CEO since dec 2022 Position CFO since 2013 Other assignments Other assignments Deputy board member of Rökfria AB. Senior advisor VEA Ventures Henrik was previously CFO at SRL, founder and chairman of NeuroNova
Slide 28: The freedom of clean air is the promise that we deliver on to our customers
The freedom of clean air is the promise that we deliver on to our customers Sustainable products Responsible value chain Attractive employer Our offering – circular rental business • Work environment & working • In total we have ten strategic model conditions suppliers • Long-term rental and service
Slide 29: QleanAir
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