Cavotec Group Ab · OMXSTO:CCC
Cavotec Group Ab — Q2 2023 Earnings Presentation
16 slides from Cavotec Group Ab's earnings presentation, Jul 28, 2023
Slide 1: Cavotec, Q2 Presentation 2023
Cavotec, Q2 Presentation 2023 ©2021 | 28 July 2023 Slide 1
Slide 2: Table of contents
Table of contents • Performance in the quarter • Operational highlights • Financial update • Summary and way forward • Q&A ©2021 | 28 July 2023 Slide 2
Slide 3: Performance in the quarter
Performance in the quarter ©2021 | 28 July 2023 Slide 3
Slide 4: Performance in the quarter - Q2 2023 vs Q2 2022
Performance in the quarter - Q2 2023 vs Q2 2022 +44% -8% Positive EUR 45.7 million EUR 140.3 million EUR 1.2 million Revenues Order backlog EBIT ©2021 | 28 July 2023 Slide 4
Slide 5: Operational highlights
Operational highlights ©2021 | 28 July 2023 Slide 5
Slide 6: Operational highlights – increased revenue for both divisions
Operational highlights – increased revenue for both divisions Ports & Maritime • Order backlog decreased -9.6% compared to Q123 to EUR 108.8 million • -10.8% compared to the same period previous year. • Timing delay in order intake and higher deliveries. • There is still a solid pipeline and strong
Slide 7: Operational highlights – aligning organization and strategy
Operational highlights – aligning organization and strategy Services an important part of solutions offering • Growing services business for both divisions. • Capturing opportunities in our growing installed base with long-term service level agreements. Global operations • Jörgen Ohlsson has been ap
Slide 8: Financial update
Financial update ©2021 | 28 July 2023 Slide 8
Slide 9: Order backlog – higher deliveries and encouraging market outlook
Order backlog – higher deliveries and encouraging market outlook Order backlog -6.3% decreased in second quarter, to EUR 140.3 million • The decrease was due to the combination of higher deliveries and timing delays on orders especially in Ports & Maritime Increase in Industry, but lower Ports & Mar
Slide 10: Revenue development – continued positive trend
Revenue development – continued positive trend Strong ability to deliver on our order book Quarterly Revenues Cavotec 50 • Revenue increased 44.4% to EUR 45.7 million (31.7) Millions EUR 45 40 Growth in both divisions 35 • Ports & Maritime: +65.3% to EUR 28.8 million compared to 30 the same period l
Slide 11: Operating result – clear trend
Operating result – clear trend Quarterly Operating Result Cavotec Second Quarter operating result EUR 1.2 million (-0.9) 1,5 Millions EUR 4,00% • EBIT margin of 2.6% (-3.0%), mainly driven by 1,0 higher revenues 2,00% • We are starting to see the benefits and effects of 0,5 the changes we have intro
Slide 12: Operating cashflow – focus in coming quarters
Operating cashflow – focus in coming quarters Quarterly Operating Cash Flow New Cavotec 6 Operating cash flow EUR -4.6 million (2.2) • Inventory levels at the end of Q2 decreased Millions EUR by -0.9 million (6.9) compared to the end of 4 Q123. • Receivables and contract assets decreased 2 EUR -1.2
Slide 13: Financial - other
Financial - other Joakim Wahlquist – New Chief Financial Officer • Mr. Wahlquist replaced the current CFO Glenn Withers on May 1st, 2023 • Financial performance Amendment in lending arrangements • At the end of the quarter Cavotec agreed with the lenders to a covenant waiver for the remainder of 202
Slide 14: Summary and way forward
Summary and way forward ©2021 | 28 July 2023 Slide 14
Slide 15: Summary and way forward
Summary and way forward Strong revenue and continued positive EBIT development • Continued strong demand for Cavotec’s sustainable solutions • Strong revenue growth in products and services • Market trends and legislation supports continuous growth for our solutions • Increasing manufacturing capabi
Slide 16: Q&A
Q&A ©2021 | 28 July 2023 Slide 16