Slide 1: Q2 Report 2023
An entrepreneurial world where people make the difference Bo Annvik, President and CEO Q2 Report 2023 Patrik Johnson, CFO 20 July 2023
Slide 2: Highlights second quarter 2023
Highlights second quarter 2023 ▪ Continued stable and high demand levels – order intake up 11% in total of which -1% organically, mainly due to Net Sales challenging references. ‒ Strongest order development in Engineering and Water/wastewater. 8.1BSEK ▪ Strong sales, above SEK 8 billion for the sec
Slide 3: Order intake
Order intake QUARTERLY GROWTH MSEK Q growth 9 000 35 000 8% 7% 8 000 7% 30 000 6% 7 000 5% 6 000 25 000 4% 5% 3% 5 000 20 000 2% 1% 4 000 0% 15 000 0% 3 000 -1% -1% 2 000 10 000 -2% 2019 2020 2021 2022 2023 Organic Acquisitions Divestments Currency Q Order intake R12M Order intake Q GROWTH YTD GROWT
Slide 4: Net sales
Net sales QUARTERLY GROWTH MSEK Q growth 9 000 35 000 9% 8% 8 000 30 000 7% 8% 7 000 6% 7% 6 000 25 000 5% 6% 4% 5 000 20 000 3% 4 000 2% 15 000 3 000 1% 0% 2 000 10 000 0% 2019 2020 2021 2022 2023 Organic Acquisitions Divestments Currency Q Net sales R12M Net sales Q GROWTH YTD GROWTH R3Y CAGR 8,10
Slide 5: Sales Growth – major countries
Sales Growth – major countries ++ ++ +++ -- +++ ++ -- North America + + Asia --- 5 +/- = Organic growth Q223 vs Q222
Slide 6: Organic Sales Growth trend
Organic Sales Growth trend 20% ▪ Organic growth eleven consecutive quarters 15% ▪ Stable high growth rate 10% ▪ Combination of volume and price 5% ▪ Organic growth in 7 out of 8 Business 0% Areas and most companies -5% ▪ Back-log remains high -10% 2019 2020 2021 2022 2023 Organic growth Organic grow
Slide 7: EBITA
EBITA QUARTERLY GROWTH MSEK Q growth 1 400 18% 8% 16% 7% 1 200 14% 6% 7% 1 000 6% 12% 5% 6% 800 10% 4% 600 8% 3% 6% 400 4% 2% 200 2% 1% 0% 0 0% 0% 2019 2020 2021 2022 2023 Organic Acquisitions Divestments Currency Q EBITA Q EBITA margin Q2-23 MARGIN Q GROWTH YTD GROWTH 1,213 MSEK 15.0% +19% +23% 7
Slide 8: Organic sales growth Q2 by Business Area
Organic sales growth Q2 by Business Area Total growth: +40% +31% +4% +12% +30% +16% +26% +8% ▪ Organic sales growth in 7 out of 8 Business Areas and in most companies 15% 14% ▪ Strongest growth in Business Areas Benelux and Industrial Components 10% 11% ▪ Strongest development in Benelux shown in 9%
Slide 9: EBITA margin by Business Area
EBITA margin by Business Area 20% ▪ Improved EBITA margin in 4 Business Areas – 18% 17,2% largest improvement in DACH 15,6% 15,7% 16% 14,5% 15,5% ▪ High and stable gross margins but higher 14,2% 14% expense levels dampens margin 12,7% 12,1% development in many companies Q EBITA margin 12% 10% ▪ Sign
Slide 10: Acquisitions
Acquisitions Acquisitions 2023 Business Area Annual Sales Sax Lift A/S FMS 130 MSEK Q1 Hobe GmbH DACH 80 MSEK Siersema Komponenten Service B.V. Benelux 390 MSEK Safematic A/S FMS 55 MSEK Q2 Labema Oy Finland 70 MSEK I-tronik S.r.l. DACH 165 MSEK Total 890 MSEK 10
Slide 11: Successful acquisition track record
Successful acquisition track record No. of acquired companies per year Quarterly financial effects acquisitions* 18 100 25,0% 16 90 14 80 20,0% 12 70 EBITA (MSEK) EBITA margin 10 60 15,0% 50 8 40 10,0% 6 30 4 20 5,0% 2 10 0 0 0,0% No. of acquired companies No. of acquired companies (3 yr avg) Acquir
Slide 12: Key data summary
Key data summary MSEK 2023-Q2 2022-Q2 Change 2023-YTD 2022-YTD Change Order Intake 7,829 7,029 11% 15,905 14,114 13% Net Sales 8,100 6,683 21% 16,163 13,081 24% Gross margin, % 34.6 34.9 34.6 34.7 EBITA 1,213 1,023 19% 2,438 1,982 23% EBITA-margin, % 15.0 15.3 15.1 15.2 Net financial items -122 -37
Slide 13: Cash Flow from operating activities
Cash Flow from operating activities MSEK ▪ All-time-high operating cash flow 1 200 during the quarter, 1,112 (622) MSEK 1 000 ▪ The increase versus last year was mainly related to a more favorable 800 working capital development 600 ▪ Inventory reduced slightly during the 400 quarter ▪ The working c
Slide 14: Earnings per share
Earnings per share SEK SEK ▪ EPS during the quarter grew 8% to SEK 2,5 9 1.99 (1.85) per share 8 2,0 ▪ The improvements driven by higher 7 EBITA but dampened by higher interest 6 1,5 costs and amortisations 5 4 ▪ 3- and 5-year rolling 4Q earnings per 1,0 3 share CAGR, were 23% and 20% 0,5 2 1 0,0 0
Slide 15: Net debt
Net debt SEK ▪ The interest-bearing net debt 12 000 120% increased to 10,166 (6,998) MSEK 10 000 100% ▪ The increase compared to last year is mainly due to a high acquisition pace 8 000 80% and a dampened operational cash flow 6 000 60% during last year 4 000 40% ▪ Net debt/equity ratio was 74% (64%
Slide 16: Infrastructure and construction – segment details
Infrastructure and construction – segment details Equipment and products for Equipment, tools and Input material and products for ground and infrastructure consumables for building and Lighting and building automation mainly commercial buildings applications construction companies Share of net sales
Slide 17: Indutrade Sustainability Awards 2023
INDUTRADE SUSTAINABILITY AWARDS 2023 People Environment Products & customers Purpose to acknowledge the great sustainability work going on around the Group, and to inspire further sustainable change 17
Slide 18: Key takeaways
Key takeaways ▪ Stable, high order intake and strong sales growth! ▪ Solid EBITA-margin and record high operational cash flow ▪ The development of the general market situation for the remainder of 2023 is difficult to assess ▪ Large, high quality order backlog. Several of our companies are well posi
Slide 19: Thank you!
Thank you! Indutrade
Slide 20: Financial calendar & contact details
Financial calendar & contact details Interim Report 1 January – 30 September 2023 Year-end report 2023 Contact: ir@indutrade.com +46 8 703 03 00
Slide 21: Trusted by entrepreneurs
MT indutrade Trusted by entrepreneurs