Slide 1: Solid operational performance and preparing for growth
Solid operational performance and preparing for growth Q2/2024 CHRISTOPHE SUT, CEO KAI VALO, CFO 6 AUGUST 2024
Slide 2: Solid operational performance and preparing for growth
Solid operational performance and preparing for growth • Turnover declined inline with updated expectations Q2/2024 • Medtech & Life Science starts to show signs of recovery • Results of an efficiency program to be visible and margin 195.5 M€ / -19.7% Turnover / YoY, % improved • EUR 40.2 million of
Slide 3: Key events in Q2/2024
Key events in Q2/2024 Customers People Quality and performance Technology • Framery signed as a new • New Chief People Officer, Anette • Danfoss Sensing Solutions • Atlanta electronic manufacturing customer Mullis, to drive and lead cultural awarded Suzhou for exceptional capabilities are being ramp
Slide 4: Turnover Q2/2021–Q2/2024
Turnover Q2/2021–Q2/2024 MEUR 250 5,3 14,6 7,9 3,1 200 29,5 19,6 3,1 17 1,5 1,3 14,4 5,8 11,7 150 100 50 172,9 167,8 191,7 196,6 212,9 211,9 222,3 224,6 243,3 212,8 220,8 198,9 195,5 0 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 4
Slide 5: Operating profit Q2/2021–Q2/2024
Operating profit Q2/2021–Q2/2024 MEUR 17,5 15 15,1 15,2 13,9 13,4 13,4 12,7 11,5 10 10,6 10,2 10,3 10,1 9,5 7,2% 7,2% 7,1% 6,7% 6,4% 6,1% 6,0% 6,1% 5,7% 5,4% 5 5,3% 5,3% 4,8% 0 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Adjusted operating profit, MEUR Operating pro
Slide 6: Customer diversification
Customer diversification 100% 13% 12% 90% 19% 80% 18 % 70% 42% 42% 36% 60% 50% 47 % 40% 35 % 30% 45% 45% 46% 20% 10% Industrial Energy & Cleantech 0% Medtech & Life Science 2022 2023 H1 2024 Rest TOP10 (ex. Biggest) The biggest customer 6-Aug-24 6
Slide 7: Segment development in Industrial
Segment development in Industrial Turnover Won deals in H1/2024 Biggest won deals in H1/2024 Y/Y: -19.6% 120 30 24,8 12.1 MEUR Defense 100 25 80 20 4.4 MEUR Process industry 60 15 1.3 MEUR Defense 9,3 40 10 … … 20 5 34.1 MEUR In total 0 0 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 Q3/23 Q
Slide 8: Segment development in Energy & Cleantech
Segment development in Energy & Cleantech Turnover Won deals in H1/2024 Biggest won deals in H1/2024 Y/Y: -26.1% 25 22,8 100 10.4 MEUR EV charging 20 75 15 7.5 MEUR General 15 50 6.8 MEUR Energy efficiency 10 … … 25 5 37.8 MEUR In total 0 0 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 Q3/23
Slide 9: Segment development in Medtech & Life Science
Segment development in Medtech & Life Science Turnover Won deals in H1/2024 Biggest won deals in H1/2024 Y/Y: -4.9% 9 45 8,1 8 7 3.1 MEUR Laboratory equipment 30 6 4,5 1.8 MEUR Analytical instruments 5 4 1.5 MEUR Life Science 15 3 2 … … 1 12.6 MEUR In total 0 0 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4
Slide 10: Financials
Financials CFO Kai Valo SCANFIL
Slide 11: High focus on operational costs
High focus on operational costs • The turnover for April–June was EUR 195.5 (243.3) million, a decrease of 19.7% compared to the previous year’s comparison period. The turnover decreased by EUR 47.8 million of which EUR 3.9 million were spot market purchases. 7,2% 7,1% Excluding spot market purchase
Slide 12: Balance sheet strengthen even further
Balance sheet strengthen even further 209,0 MEUR 184,9 24.1 266,0 271,7 Inventories 7,5 Goodwill 7,7 10,1 Equity Other Intangible Assets 10,4 MEUR 40,2 Interest Bearing Debt Cash and Equivalent 21,2 19.0 Trade and other liabilities Trade and other receivables Other liabilities 73,0 MEUR Other Assets
Slide 13: Net cash from operating activities Q2/2021–Q2/2024
Net cash from operating activities Q2/2021–Q2/2024 MEUR 40 • Net cash from the operating 37,2 activities in April - June was EUR 34,8 37,2 million (EUR 25.2 million) 30 and in January – June EUR 46,1 million (EUR 24,3 million) 25,2 20 • Positive cash flow was supported by the EUR -24,5 million reduc
Slide 14: Net debt Q2/2021–Q2/2024
Net debt Q2/2021–Q2/2024 MEUR 100 • Net Debt was EUR 29.2 million (87.4), lower by EUR -58.2 million. 80 • Cash and cash equivalents totaled EUR 40.2 (14.9) million. 60 • Interest-bearing liabilities were EUR 69.5 (102,3) million consisted of EUR 47.6 (80.6) million liabilities from financial 40 ins
Slide 15: Key figures
Key figures Equity ratio, % ROE, % • Equity ratio 55,4% (45,8%) Equity 55,4 60 25 increased by EUR 32.1 million 22,6 50 and balance sheet total were 45,8 20 lower by EUR -34,6 million driven 40 15,3 by EUR -40.9 million lower 15 inventories. 30 10 20 • Net gearing 10.8 (36.5). Interest 5 10 bearing
Slide 16: Outlook
Outlook SCANFIL
Slide 17: Outlook and focus in 2024
Outlook and focus in 2024 We expect our turnover to be EUR 780–840 (820–900) million and adjusted operating profit to be EUR 54–61 (57–65) million. Focus areas: • Build up sales pipeline with special focus on Energy & Cleantech and Medtech & Life Science • Secure profitability with focus on cost bas
Slide 18: Q&A
SCANFIL Q&A
Slide 19: Key takeaways
Key takeaways • Q2/2024 • Signs of gradual recovery led by Medtech & Life Science • EUR 40.2 million won deals • Operating margin 7.1%, within long-term target of 7%-8% • Net cash flow from operations exceeded EUR 46.9 million • Cash and equivalents of EUR 40.2 million on 30 June • Net debt/EBITDA 0
Slide 20: Contact information and analysts
Carnegie AB, Stockholm Jakob Söderblom +46 734 178 643 jakob.soderblom@carnegie.se Contact information Inderes Oyj and analysts Antti Viljakainen +358 44 591 2216 antti.viljakainen(at)inderes.fi Nordea Oyj Pasi Väisänen CHRISTOPHE SUT, CEO +358 9 5300 5192 +358 407 318 411 pasi.vaisanen(at)nordea.co
Slide 21: Disclaimer
Disclaimer Not to be published or distributed, directly or indirectly, in any country where its distribution or publication is unlawful. Forward looking statements: certain statements in this presentation may constitute "forward-looking" statements which involve known and unknown risks, uncertaintie
Slide 22: Global contract manufacturer and systems supplier
Global contract manufacturer and systems supplier