Fasadgruppen Group Ab · OMXSTO:FG
Fasadgruppen Group Ab — Q4 2024 Earnings Presentation
14 slides from Fasadgruppen Group Ab's earnings presentation, Feb 11, 2025
Slide 1: 12M-2024 Results
12M-2024 RESULTS CONFERENCE CALL 11 FEBRUARY 2025 Martin Jacobsson, CEO Casper Tamm, CFO Adrian Westman, Head of IR
Slide 2: Highlights Fourth Quarter 2024
HIGHLIGHTS FOURTH QUARTER 2024 ▪ Stable development for subsidiaries in Denmark, Norway and Finland ▪ Underperformance in Sweden ▪ Substantial earnings contribution from Clear Line; successful integration underway ▪ Positive development in order backlog with increasing margin compared to Q3 (also ex
Slide 3: Net Sales
NET SALES MSEK 1500 Q4 2024 1400 +14.2% 1300 1200 ▪ Total decrease of 1.6% -15.6% -0.1% 1100 1000 ▪ Revenues down 15.6% organically* 900 -1.6% net sales growth ▪ Swedish operations continue to decline; low activity 800 Q4 2023 Organic FX Acquisitions Q4 2024 in new construction combined with less wo
Slide 4: Adjusted EBITA
ADJUSTED EBITA Q4 2024 2024 2023 2024 2023 ▪ Adjusted EBITA margin at 6.4% (9.1%) Q4 Q4 Δ 12m 12m Δ SEK million Adjusted EBITA 88.0 127.9 -31.1% 282.4 448.0 -37.0% ▪ Weak earnings in Sweden; Adj. EBITA margin 6.4% 9.1% 5.7% 8.8% ▪ Loss related to Serneke bankruptcy approx. 10 million ▪ Unfavourable
Slide 5: Order Backlog
ORDER BACKLOG MSEK 4000 +39.1% 31 DEC 2024 3500 3000 ▪ Order backlog decrease of 8% organically +1.1% 2500 -8.0% ▪ Order backlog at all-time-high at roughly 3.8bn SEK 2000 +32.2% order backlog growth following Clear Line acquisition 1500 31 Dec 2023 Organic FX Acquisitions 31 Dec 2024 ▪ Both the ord
Slide 6: Cash Flow
CASH FLOW Q4 2024 2024 2023 2024 2023 ▪ Decrease in operating cash flow due to lower Q4 Q4 Δ 12m 12m Δ SEK million earnings Operating cash flow 184.6 209.8 -12.0% 421.6 547.6 -23.0% Δ Working capital 116.3 82.4 172.7 123.9 ▪ Improved working capital thanks to continued focus Cash conversion 220.3% 1
Slide 7: Financial Capacity and Net Debt
FINANCIAL CAPACITY AND NET DEBT 31 DEC 2024 SEK million 31 Dec 2024 31 Dec 2023 ▪ Average interest rate Jan-Dec 2024: Interest-bearing debt 2,426.5 1,539.7 ~6.1% (~5.8%) Lease liabilities (+) 197.4 168.1 Cash and cash equivalents (-) 482.3 467.6 ▪ Interest period of 1-3 months Total interest-bearing
Slide 8: New Acquisitions
NEW ACQUISITIONS GREAT VALUE-ADDS; FOCUS WILL NOW BE ON DELEVERAGING Clear Line (Q4 2024) Liab Plåtbyggarna (Q1 2025) ▪ Strong reputation in complex high rise and ▪ Sheet metal, forging and assembly work as façade fire remediation projects well as steel halls throughout Mälardalen ▪ Total solution w
Slide 9: Move to Create a Flatter Organisation
MOVE TO CREATE A FLATTER ORGANISATION MORE EFFFICIENT GOVERNANCE ▪ One level between Group management and Group management team subsidiaries to be removed; each subsidiary will report to a COB ▪ Martin Jacobsson, CEO ▪ Casper Tamm, CFO ▪ To further optimise governance, a number of ▪ Daniél Bergman,
Slide 10: Financial Targets
FINANCIAL TARGETS LONG-TERM VALUE CREATION 2024 An average net sales growth of at least 15 percent per year over a business Net sales growth cycle. The growth should be achieved organically as well as through -3.6% acquisitions. Profitability EBITA margin of at least 10 percent per year over a busin
Slide 11: Dividend Policy Removed
DIVIDEND POLICY REMOVED A CLARIFICATION OF THE GROUP’S CAPITAL ALLOCATION PRIORITIES ▪ Previous policy of distributing 30% of net profit as dividend does not align with overall capital allocation strategy and growth possibilities ▪ The Board believes that greater shareholder value will be created by
Slide 12: Main Priorities 2025-2028
PRIORITIES 2025-2028 FOCUSING ON PROFITABLE GROWTH Focus 2025 ▪ Ensure continuous improvements in subsidiaries PROFITABILITY ▪ Focus on efficiency in operations Main priorities 2025-2028 ▪ Increase cooperation within the group LEVERAGE ▪ Return to net debt/EBITDA below 2.5x ▪ Grasp organic opportuni
Slide 13: Concluding Remarks
CONCLUDING REMARKS 2025 A YEAR OF DELEVERAGING AND PROFITABILITY MEASURES ▪ A disappointing development in 2024 driven by tough market situation in Sweden ▪ Strategic acquisition of Clear Line ▪ Positive signs from order backlog development ▪ New, flatter organisation with more efficient governance
Slide 14: Q&A
Q&A PRESENTATION MATERIAL IS AVAILABLE AT CORPORATE.FASADGRUPPEN.SE