Mildef Group Ab · OMXSTO:MILDEF
Mildef Group Ab — Q2 2023 Earnings Presentation
16 slides from Mildef Group Ab's earnings presentation, Jul 27, 2023
Slide 1: Q2 report 2023
Q2 report 2023 Daniel Ljunggren President & CEO MilDef Investor Conference Call July 27, 2023
Slide 2: Highlights Q2 2023
Highlights Q2 Q2 2023 ▪ Continued ▪ strong momentum in sales Sales increased with 144% in Q2, 104% organic growth ▪ Sales growth on all geographic markets we operate on ▪ Sales R12 exceeds SEK 1.0 billion for the first time ▪ Clearly ▪ improved profitability Gross margin improved, 50% in Q2 ▪ 16.5%
Slide 3: Key figures Q2 2023
Key figures Q2 2023 288.8 Continued strong growth in 285.5 Record high order backlog, Net Sales, SEK m net sales, increased sales on Order Intake, SEK m order intake R12 exceeds SEK all geographic markets. R12 1.2 billion. Strong growth 1H exceeds SEK 1.0 billion. 2023 despite yet no material Organi
Slide 4: Q2 business headlines
Q2 business headlines Extended MilDef recruits US operations FMV Initial contract MilDef/Handheld framework a new CFO in level up under 37 MSEK with Astronics win two agreement Viveca Johnsson leadership of contract for worth 30 MSEK contracts in Norwegian Jim Rimay amphibious unmanned air Defense M
Slide 5: Strong market fundamentals
Strong market fundamentals 1 2 3 4 Great need of modernization and Increased defense budgets within Opportunities with potential digitalization in the defense sector EU and NATO enables high Defense planning processes Swedish NATO membership – – Pens, compasses and paper demand – largest increase in
Slide 6: Innovation & digitalization drives growth
Innovation & digitalization drives growth The need for smaller and smarter products with more computing power is accelerating 6|
Slide 7: Financial summary
Bemilder Financial summary
Slide 8: Net sales LTM at all time high (SEK 1.050 million)
Net sales LTM at all time high (SEK 1.050 million) +76% Net Sales (SEKm) 1 200 Gross Margin, % 1 100 1 051 1 000 900 800 48% 48% 48% 700 47% 47% 47% 47% 597 46% 46% 600 45% 45% 500 445 400 300 39% 300 37% 200 100 0 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2021 20
Slide 9: EBITDA LTM at all time high (SEK 145 million)
EBITDA LTM at all time high (SEK 145 million) 215% EBITDA (SEKm) 160 145,0 140 120 100 80 76,7 60 46,1 40 20 15,5 0 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2021 2022 2023 9|
Slide 10: Order intake LTM at all time high (SEK 1 206 million)
Order intake LTM at all time high (SEK 1 206 million) +74% (SEKm) 1 400 1 206 1 200 1 000 798 800 693 600 400 341 200 0 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2021 2022 2023 10 |
Slide 11: Order backlog at all time high (+41% vs Q2 2022)
Order backlog at all time high (+41% vs Q2 2022) +41% (SEKm) 1 400 1 288 1 200 1 000 913 800 634 600 400 222 200 0 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2021 2022 2023 11 |
Slide 12: Order backlog duration (SEKm)
Order backlog duration (SEKm) Beyond 2025* Duration of the order backlog 240 per June 30, 2023, based on planned deliveries 506 2023* 2025* 164 378 *Important information Forward-looking statements do not guarantee future results or development and the actual outcome could differ materially from the
Slide 13: Net working capital Net debt / EBITDA
Net working capital Net debt / EBITDA (SEKm) 350 5,0 50% 300 4,3 4,2 3,9 41% 250 40% 2,8 36% 1,9 33% 200 32% 31% 1,1 30% 0,3 150 23% 23% 24% 20% -0,8 -0,8 18% 19% 100 16% -2,1 -2,1 10% 10% 50 6% -3,5 0 0% Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2021 2022 2023 20
Slide 14: Priorities going forward
Priorities going forwardQ2 2023 ▪ Continue strong focus on customer deliveries ▪ NATO – monitor impact and position MilDef ▪ Capture increased market opportunities in EU and NATO ▪ Improve net working capital and operating cash flow ▪ Materialize additional Handheld synergies ▪ Continue to accelerat
Slide 15: Positive expectations for 2023
Positive expectations for 2023 With a record high order backlog and a more active market, we predict continued strong sales, order intake and profitability in 2023. 1616 15 || 15 |
Slide 16: Q&A Upcoming events
Q&A & Upcoming events Launch of new brand – September DSEI London – September 12-15 AUSA Washington DC – October 9-11 Q3 report 2023 – October 26 Year-end report 2023 – February 8 Follow our journey on 16 |