Trelleborg Ab Class B · OMXSTO:TREL_B
Trelleborg Ab Class B — Q4 2024 Earnings Presentation
29 slides from Trelleborg Ab Class B's earnings presentation, Jan 29, 2025
Slide 1: Trelleborg Q4 2024 CFO presentation
2 CFO VM TRELLEBORG
Slide 2: Agenda
Agenda • Highlights Highlights Business areas Financials Summary & Outlook Q1 2025 Q&A 2 TRELLEBORG GROUP
Slide 3: Growth with enhanced profitability
Growth with enhanced profitability Q4 2024 financial summary1 • Sales at SEK 8 783 M (8 421), an increase of 4 percent • Organic sales +1 percent, M&A +3 percent, currency +/- 0 percent • EBITA at SEK 1 587 M (1 424), corresponding to a margin of 18.1 percent (16.9) • Items affecting comparability a
Slide 4: Organic sales development by geography
Organic sales development by geography Organic sales continuing operations • operations Total Oct - Dec 24 Oct - Dec 23 Europe 1% 0% Share of sales1 Oct - Dec 24 Oct - Dec 23 44% -5% 2% North- and South America Share of sales1 Oct - Dec 24 Oct - Dec 23 Asia and rest of the world 33% -1% -1% Share of
Slide 5: Agenda
Agenda • Highlights Highlights Business areas Financials Summary & Outlook Q1 2025 Q&A 5 TRELLEBORG GROUP
Slide 6: Good growth and higher margins
Good growth and higher margins Trelleborg Industrial Solutions1 • Organic sales +4 percent; M&A +1 percent • Strong demand in the marine segments, spurred SEK M Q4 2024 Q4 2023 Change, % by larger projects Net sales 3 980 3 766 6 • Sales to certain construction segments continue to be challenging, p
Slide 7: A big jump in profitability
A big jump in profitability Trelleborg Medical Solutions1 • Organic sales +/- 0 percent; M&A +40 percent • Organic sales of medical solutions improved in SEK M Q4 2024 Q4 2023 Change, % Europe, but were weaker in North America Net sales 903 637 42 • Deliveries to the life science segment grew after
Slide 8: Stable despite challenging markets
Stable despite challenging markets Trelleborg Sealing Solutions1 • Organic sales -1 percent; M&A +3 percent • Sales to diversified industry and auto declined in SEK M Q4 2024 Q4 2023 Change, % Europe and North America, but improved in Asia Net sales 4 089 4 026 2 • Continued strong sales to aerospac
Slide 9: Sustainability KPIs – continuing operations
Sustainability KPIs – continuing operations Carbon dioxide emissions Tonnes, CO₂ 30 000 28 411 25 000 20 000 18 289 16 953 14 151 14 598 15 000 10 000 5 000 0 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 9 TRELLEBORG GROUP
Slide 10: Sustainability KPIs – continuing operations
Sustainability KPIs – continuing operations Share of renewable and fossil-free electricity +33 p.p. Mwh 55% 88% 100 000 76 968 76 275 74 181 79 826 75 870 80 000 69 692 67 649 69 494 66 556 60 000 41 965 40 000 20 000 0 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Renewable and fossil-free electricity Total electr
Slide 11: Agenda
Agenda • Highlights Highlights Business areas Financials Summary & Outlook Q1 2025 Q&A 11 TRELLEBORG GROUP
Slide 12: Sales improvement
Sales improvement Sales development continuing operations +4% October – December (%) 8 421 8 783 Organic 1 Structural 3 Currency 0 Total 4 Q4 23 Q4 24 January – December (%) 0% Organic 0 34 286 34 170 Structural 1 Currency -1 Total 0 12M 23 12M 24 12 TRELLEBORG GROUP
Slide 13: Small organic sales growth in challenging markets
Small organic sales growth in challenging markets Target: 8% annual sales growth with constant currencies over a business cycle1 % 30% 23 20% 17 16 15 13 12 10 10% 8 3 3 4 0 0% -10% -5 21 22 22 22 22 23 23 23 23 24 24 24 24 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Of which organic growth, %: 9 13 11 1
Slide 14: Sales development
Sales development Continuing operations, R12M SEK M SEK M 9 000 35 000 8 000 30 000 7 000 25 000 6 000 5 000 20 000 4 000 15 000 3 000 10 000 2 000 5 000 1 000 0 0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 20 21 21 21 21 22 22 22 22 23 23 23 23 24 24 24 24 Quarter (LHS) R12M (RHS) 14 TRELLE
Slide 15: EBITA and margin improved further
EBITA and margin improved further EBITA and margin development1 +11% +1.2 1 587 16.9 18.1 1 424 EBITA Oct - Dec EBITA % Q4 23 Q4 24 Q4 23 Q4 24 +2% +0.5 6 002 6 140 17.5 18.0 EBITA Jan - Dec EBITA % 12M 23 12M 24 12M 23 12M 24 1 Excluding items affecting comparability, continuing operations 15 TRELL
Slide 16: R12M EBITA – continued improvement
R12M EBITA – continued improvement EBITA and margin, R12M1 SEK M % 7 000 20 +2% 6 000 18 5 000 16 4 000 3 000 14 2 000 12 1 000 0 10 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 20 21 21 21 21 22 22 22 22 23 23 23 23 24 24 24 24 EBITA % EBITA 1 Excl. items affecting comparability, continuing o
Slide 17: Profit & loss statement
Profit & loss statement SEK M Q4 2024 Q4 2023 Change, % 12M 2024 12M 2023 Change, % Net sales 8 783 8 421 4 34 170 34 286 0 EBITA, excluding items affecting comparability 1 587 1 424 11 6 140 6 002 2 EBITA-margin, % 18.1 16.9 18.0 17.5 EBIT, excluding items affecting comparability 1 420 1 304 9 5 60
Slide 18: EPS growth in continuing operations
EPS growth in continuing operations Earnings per share1 +17% % % +4% 3.99 6 4 3.40 4.08 4.24 4 Continuing Oct - Dec Group, 2 operations, 2 excl. items affecting Total comparability 0 0 Q4 23 Q4 24 Q4 23 Q4 24 % % +1% -61% 60 20 16.64 16.74 40.24 Continuing 40 Group, Jan - Dec 10 operations, 20 15.73
Slide 19: Strong cash flow generation
Strong cash flow generation Operating cash flow1 137 1 681 SEK M Q4 2024 Q4 2023 Change 101 46 154 EBITDA 1 944 1 790 154 1 321 -78 Working capital 413 312 101 Net capex -576 -498 -78 Leasing -93 -139 46 Other -7 -144 137 Operating cash flow 1 681 1 321 360 Q4 23 EBITDA Working Net Leasing Other Q4
Slide 20: Cash conversion remains at a solid and high level
Cash conversion remains at a solid and high level Operating cash flow, R12M1 SEK M % 6 000 140 128 5 500 121 120 5 000 101 4 500 96 99 95 92 89 100 4 000 85 88 88 85 3 500 76 69 74 75 80 63 3 000 2 500 60 2 000 40 1 500 1 000 20 500 0 0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 20 21 21 21
Slide 21: Strong balance sheet despite acquisitions and share buy-backs
Strong balance sheet despite acquisitions and share buy-backs Gearing and leverage, R12M, Group1 % 2.5 2.4 2.5 60 56 52 50 2.0 1.8 1.7 40 35 35 1.5 1.2 30 25 1.0 0.9 20 16 0.5 10 0 0.0 -10 -0.5 -0.2 -6 18 19 20 21 22 23 24 18 19 20 21 22 23 24 Net debt / Equity Net debt / EBITDA 1 From 2019 gearing
Slide 22: ROCE impacted by acquisitions
ROCE impacted by acquisitions Return on capital employed, R12M, %1 17.5 16.5 15.7 16.1 15.9 14.9 15.1 14.9 15.0 13.9 13.9 13.0 12.9 12.7 12.7 12.5 12.0 12.3 12.0 11.2 10.0 7.5 5.0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 20 21 21 21 21 22 22 22 22 23 23 23 23 24 24 24 24 1 Excluding items
Slide 23: Financial guidelines for full-year 2025
Financial guidelines for full-year 2025 Continuing operations SEK SEK SEK ~1.65 B ~300 M ~650 M ~25% Capex Restructuring Amortization of Underlying tax costs intangible rate assets 23 TRELLEBORG GROUP
Slide 24: Agenda
Agenda • Highlights Highlights Business areas Financials Summary & Outlook Q1 2025 Q&A 24 TRELLEBORG GROUP
Slide 25: Growth with enhanced profitability
Growth with enhanced profitability Q4 2024 financial summary1 • Sales at SEK 8 783 M (8 421), an increase of 4 percent • Organic sales +1 percent, M&A +3 percent, currency +/- 0 percent • EBITA at SEK 1 587 M (1 424), corresponding to a margin of 18.1 percent (16.9) • Items affecting comparability a
Slide 26: Outlook Q1 2025
Outlook Q1 2025 • Demand is expected to be on a par with the fourth quarter of 2024, adjusted for seasonal variations • The geopolitical situation entails continued uncertainty 1 Excluding items affecting comparability, continuing operations 26 TRELLEBORG GROUP
Slide 27: Agenda
Agenda • Highlights Highlights Business areas Financials Summary & Outlook Q1 2025 Q&A 27 TRELLEBORG GROUP
Slide 28: Trelleborg Group
28 TRELLEBORG GROUP TRELLEBORG
Slide 29: www.trelleborg.com
VA TRELLEBORG www.trelleborg .com