Indutrade Ab · OMXSTO:INDT
Indutrade Ab — Q1 2022 Earnings Presentation
20 slides from Indutrade Ab's earnings presentation, Apr 29, 2022
Slide 1: Q1 Report 2022
An entrepreneurial world where people make the difference Bo Annvik, President and CEO Q1 Report 2022 Patrik Johnson, CFO 29 April 2022
Slide 2: Highlights first quarter 2022
Highlights first quarter 2022 Net Sales ▪ Continued broad and strong demand in almost all segments and companies 6.4BSEK ▪ Strong performance from our companies despite challenging market conditions – Net Sales improved vs Q4 21 and Q1 21 ▪ Organic Order Intake and Net Sales grew +12%, respectively
Slide 3: Challenging market conditions
Challenging market conditions ▪ War in Ukraine - Indutrade has stopped all business activities with companies in Russia and Belarus - No companies or employees in Russia, Belarus or Ukraine - Limited direct and indirect business exposure - Limited sourcing from Russia, Belarus and Ukraine ▪ Continue
Slide 4: Order intake
Order intake QUARTERLY GROWTH MSEK Q growth 8 000 26 000 14% 24 000 7 000 12% 22 000 12% 6 000 20 000 10% 18 000 5 000 8% 16 000 4 000 14 000 6% 7% 12 000 4% 3 000 4% 10 000 2 000 8 000 2% 2017 2018 2019 2020 2021 2022 0% 0% Q Order intake R12M Order intake Organic Acquisitions Divestments Currency
Slide 5: Net sales
Net sales QUARTERLY GROWTH MSEK Q growth 7 000 24 000 14% 6 500 22 000 12% 6 000 20 000 12% 5 500 10% 5 000 18 000 4 500 16 000 8% 4 000 8% 14 000 6% 3 500 12 000 3 000 4% 2 500 10 000 4% 2 000 8 000 2% 2017 2018 2019 2020 2021 2022 0% 0% Q Net sales R12M Net sales Organic Acquisitions Divestments C
Slide 6: Organic Sales Growth trend
Organic Sales Growth trend 20% • Organic growth six 15% consecutive quarters 10% • Sequentially increased organic growth rate 5% • Organic growth in all Business Areas 0% • Strong order back log -5% -10% 2017 2018 2019 2020 2021 2022 6
Slide 7: EBITA
EBITA QUARTERLY GROWTH MSEK Q growth 1 200 18% 20% 16% 18% 19% 1 000 14% 16% 800 12% 14% 10% 12% 600 8% 10% 11% 400 6% 8% 4% 200 6% 5% 2% 4% 0 0% 2017 2018 2019 2020 2021 2022 2% 0% 0% Q EBITA* Q EBITA margin* Organic Acquisitions Divestments Currency *) Excluding restructuring costs 2017-Q4 Q1-22 M
Slide 8: Organic sales growth Q1 by Business Area
Organic sales growth Q1 by Business Area Total growth: +18% +36% +31% +26% +38% +10% +21% +46% 20% ▪ Organic sales growth in all Business Areas 18% 18% ▪ Strongest growth in Business Areas Flow 16% 17% 17% Technology, Fluids & Mechanical Solutions, 14% DACH and Finland supported by broad 14% positiv
Slide 9: EBITA margin by Business Area
EBITA margin by Business Area 25% ▪ Record EBITA margin for a Q1 ▪ Strengthened EBITA-margin in all 20% 19,1% Business Areas 17,2% ▪ Continued strong organic gross margin 15,8% 15,7% development 15% 14,5% 14,5% Q EBITA margin 13,9% 13,1% ▪ Good profitability in newly acquired companies 10% ▪ Stronge
Slide 10: Acquisitions 2022
Acquisitions 2022 Acquisitions Business Area Annual Sales Q1 Autoroll UK Ltd UK 67 MSEK NTi Audio AG MST 90 MSEK Stabalux GmbH FMS 40 MSEK Q2 PMH International AB IC 140 MSEK Total 337 MSEK 10
Slide 11: Key data summary
Key data summary MSEK 2022-Q1 2021-Q1 Change Order Intake 7,085 5,747 23% Net Sales 6,398 5,147 24% Gross margin, % 34.6 34.3 EBITA 959 713 35% EBITA-margin, % 15.0 13.9 Net financial items -35 -29 21% Tax -176 -133 32% Earnings per share (before dilution), SEK 1.75 1.27 38% Return On Capital Employ
Slide 12: Cash Flow from operating activities
Cash Flow from operating activities MSEK 1 000 ▪ Operating cash flow during the 900 quarter was 276 (489) MSEK 800 ▪ Cash flow in Q1 seasonally low 700 ▪ The decline versus last is related to 600 increases of receivables and inventories 500 400 ▪ The working capital efficiency improved further durin
Slide 13: Earnings per share
Earnings per share SEK SEK 2,0 7 ▪ EPS during the quarter grew 38% 1,8 to SEK 1.75 (1.27) 6 1,6 ▪ Improvements mainly driven by 5 1,4 higher EBITA 1,2 4 ▪ 3- and 5-year rolling 1,0 3 4Q earnings per share 0,8 CAGR*, were 17% 0,6 2 0,4 1 0,2 0,0 0 2017 2018 2019 2020 2021 2022 Q EPS R4Q EPS * Adjuste
Slide 14: Net debt
Net debt SEK 7 000 120% ▪ The interest-bearing net debt increased to 5,766 (5,157) 6 000 100% MSEK 5 000 80% ▪ The increase was mainly 4 000 due to a higher acquisition 60% pace the last year 3 000 ▪ Net debt/equity ratio was 52% 40% 2 000 (56%) 20% 1 000 0 0% 2017 2018 2019 2020 2021 2022 Net debt
Slide 15: Historically resilient and successful business model
Historically resilient and successful business model Develop Acquire People and Talent management Resource and capability build-up Knowledge sharing and toolbox Scalable organization and structure Growth plans based on portfolio model Expanding geographical scope Sustainability 15
Slide 16: Moving forward on Sustainability
▪ Sustainability report 2021 published on Moving forward on Sustainability www.indutrade.com PEOPLE ENVIRONMENT PROFITABLE GROWTH Focus areas and overall goals 2030 100% CO2 neutral 100% engaged people scope 1 & 2 (GHG) of Indutrade’s companies contributing to sustainable development Training and kn
Slide 17: Key takeaways
Key takeaways ▪ Strong growth and record high Q1 profits ▪ Increased business risks but demand expected to remain at a high level in the short term. Record high order backlog supports continued good invoicing and profit development ▪ Supply chain issues, component shortage and inflation challenges o
Slide 18: Thank you!
Thank you! Indutrade
Slide 19: Financial calendar & contact details
Financial calendar & contact details Interim Report 1 January – 30 June 2022 Interim Report 1 January – 30 September 2022 Contact: ir@indutrade.com +46 8 703 03 00
Slide 20: Trusted by entrepreneurs
MT indutrade Trusted by entrepreneurs