Fagerhult Group Ab · OMXSTO:FAG
Fagerhult Group Ab — Q3 2022 Earnings Presentation
25 slides from Fagerhult Group Ab's earnings presentation, Oct 28, 2022
Slide 1: We light up your world – Q3 2022 presentation
We light up your world Q3 2022 presentation October 28th 2022 www.fagerhultgroup.com
Slide 2: Third quarter
Third quarter Sales development ─ Strong growth in net sales, 13,0% organic growth ─ We observe a softening of the market’s activity levels ─ Order intake rolling 12 months above 8 SEK bn Operating margin ─ The results benefit from price increases in previous quarters ─ This positive trend should co
Slide 3: Q3 2022 in figures
Q3 2022 in figures 2 500 250 2 000 200 Order intake: 1 891 MSEK (1 895) -5,2% organic 1 500 150 Net sales: 2 081 MSEK (1 745) +13,0% organic 1 000 100 Operating profit: 219 MSEK (184) 500 50 Operating margin: 10,5% (10,6%) 0 0 Earnings per share: 0,89 SEK (0,72) Q3 2021 Q3 2022 Net Sales, MSEK Opera
Slide 4: Q1-3 2022 in figures
Q1-3 2022 in figures 7 000 700 6 000 600 Order intake: 6 279 MSEK (5 872) 5 000 500 +2,3% organic 4 000 400 Net sales: 5 999 MSEK (5 268) +9,0% organic 3 000 300 Operating profit: 579 MSEK (545) 2 000 200 Operating margin: 9,6% (10,4%) 1 000 100 0 0 Earnings per share: 2,31 SEK (2,03) Q1-3 2021 Q1-3
Slide 5: A world enhanced by light
Our operating model Business Collection Premium Professional Infrastructure areas A world enhanced Connectivity by light Group focus areas People & Innovation Sustainability Culture Q3 2022 presentation 5
Slide 6: Together We Light
Together We Light Q3 2022 presentation 6
Slide 7: Innovation: Crystal optics for architectural applications
In no va tio Crystal – new optics for architectural applications n ─ Best possible light comfort ─ Decorative light effect on surrounding ceiling Q3 2022 presentation 7
Slide 8: Innovation: Nano-Optix wallwasher for Lichtkanal
In no va tio Nano-Optix wallwasher for n Lichtkanal ─ Transferred optics functionality onto an ultra-thin film of just 0.6 mm ─ Lengths of up to 150 m gives uninterrupted lighting with no visible edges Q3 2022 presentation 8
Slide 9: Science Based Targets initiative
Science Based Targets initiative ─ Paris Agreement for the 1,5 º C target ─ Carbon neutral by the latest 2050 Q3 2022 presentation 9
Slide 10: Renovation & Retrofit opportunity
Renovation & Retrofit opportunity Sustainability Surging energy Fluorescent Climate change ambitions prices lamps banned Q3 2022 presentation 10
Slide 11: www.fagerhultgroup.com
www.fagerhultgroup.com
Slide 12: Financial summary Q3
Financial summary Q3 MSEK Q3 2022 Q3 2021 Q1-3 2022 Q1-3 2021 Net sales 2 081 1 745 19,3% 5 999 5 268 13,9% - Organic growth 227 13,0% 474 9,0% - FX-differences 109 257 Operating profit 219 184 18,8% 579 545 6,1% Operating profit, % 10,5% 10,6% -0,1 p.p. 9,6% 10,4% -0,8 p.p. Net profit 157 128 408 3
Slide 13: Financial summary YTD
Financial summary YTD MSEK Q3 2022 Q3 2021 Q1-3 2022 Q1-3 2021 Net sales 2 081 1 745 19,3% 5 999 5 268 13,9% - Organic growth 227 13,0% 474 9,0% - FX-differences 109 257 Operating profit 219 184 18,8% 579 545 6,1% Operating profit, % 10,5% 10,6% -0,1 p.p. 9,6% 10,4% -0,8 p.p. Net profit 157 128 408
Slide 14: Sales development
Sales development Net sales R12 Net sales R12, MSEK 8000 7000 6000 5000 4000 3000 2000 1000 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2016 2017 2018 2019 2020 2021 2022 Q3 2022 presentation 14
Slide 15: Margin development
Margin development Operating margin by quarter and R12 Operating margin,% Adjusted operating margin1,% Rolling 12 months 16,0% 14,0% 12,0% 10,0% 8,0% 6,0% 4,0% 2,0% 0,0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2016 2017 2018 2019 2020 2021 2022 Q3 2022 presen
Slide 16: Collection
1200 24% Collection 1200 12% 1000 20% Financials Q3 1000 10% ─ Order intake 840 (857) MSEK, organic -9,8% 800 16% 800 8% ─ Net sales 946 (764) MSEK, organic +14,9% 600 12% ─ Operating margin 8,6% (7,3%) 600 6% 400 400 8% 4% Business update ─ Year-to-date order intake position at all time high 200 20
Slide 17: Premium
Premium 900 18% Financials Q3 800 16% ─ Order intake 609 (637) MSEK, organic -7,8% 700 14% ─ Net sales 719 (629) MSEK, organic +8,7% 600 12% ─ Operating margin 16,0% (15,5%) 500 10% 400 8% Business update 300 6% ─ Solid performance with good organic sales growth 200 4% ─ Exceptionally strong operati
Slide 18: Professional
Professional 1200 24% 400 20% Financials Q3 1000 20% ─ Order intake 172 (209) MSEK, organic -14,8% 300 800 16% 15% ─ Net sales 267 (262) MSEK, organic +4,7% 600 12% ─ Operating margin 2,2% (8,4%) 200 10% 400 8% Business update ─ Order intake impacted by weak Turkish Lira and the political 100 200 4%
Slide 19: Infrastructure
Infrastructure 250 25% Financials Q3 ─ Order intake 270 (192) MSEK, organic +34,9% 200 20% ─ Net sales 236 (179) MSEK, organic +27,0% ─ Operating margin 14,0% (13,0%) 150 15% Business update 100 10% ─ Record high order intake ─ Good growth in the Netherlands and the UK 50 5% ─ Return to strong opera
Slide 20: Cash flow
Cash flow Operating cash flow by quarter and R12 Cash flow by quarter, MSEK Rolling 12 months 1200 1000 800 600 400 200 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2015 2016 2017 2018 2019 2020 2021 2022 -200 Q3 2022 presentation 20
Slide 21: Net debt development
Net debt development Net debt and Net debt/EBITDA-ratio Net debt, MSEK Net debt/EBITDA* 6000 6,00 5500 5,50 5000 5,00 4500 4,50 4000 4,00 3500 3,50 3000 3,00 2500 2,50 2000 2,00 1500 1,50 1000 1,00 500 0,50 0 0,00 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
Slide 22: Earnings per share
Earnings per share Earnings per share by quarter and R12 Earnings per share by quarter, SEK Rolling 12 months 5 4,5 4 3,5 3 2,5 2 1,5 1 0,5 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 * Q2 Q3 Q4 Q1 Q2 Q3 -0,5 2015 2016 2017 2018 2019 2020 2021 2022 Q3 2022 presentati
Slide 23: www.fagerhultgroup.com
www.fagerhultgroup.com
Slide 24: Conclusions and recap
Conclusions and recap ─ Customer demand was very strong, organic +13,0%, resulting in the second highest quarterly net sales level ─ Positive opportunities arising from the global mega-trends ─ We have committed to Science Based Targets initiative, including: • The Paris Agreement, 1,5 degree target
Slide 25: www.fagerhultgroup.com
www.fagerhultgroup.com