Alimak Group Ab · OMXSTO:ALIG
Alimak Group Ab — Q3 2022 Earnings Presentation
24 slides from Alimak Group Ab's earnings presentation, Oct 20, 2022
Slide 1: Alimak Group Q3 2022
Alimak Group Q3 2022, 20 October 2022 Ole Kristian Jødahl, CEO Thomas Hendel, CFO
Slide 2: Business highlights Q3
Business update – Q1 FOR INTERNAL USE ONLY Business highlights Q3 § Accelerated profitable growth - delivering on the New Heights Programme § Solid organic order intake and revenue growth § Increased adj. EBITA and adj. EBITA margin § Improved cash flow vs. first six months of 2022 § Acquisition of
Slide 3: Group quarterly summary Q3
Group quarterly summary Q3 § Order intake +25% (+10% Order intake & Revenue by Quarters Order intake & Revenue by R12M organically) – Solid contributions from Facade access, Construction and Industrial – Wind market still challenging but good opportunities ahead § Revenue +21% (+7% organically) – So
Slide 4: Facade Access Q3
Facade Access Q3 § Order intake +57% (+36% organically) Order intake & Revenue by Quarters Order intake & Revenue by R12M – Stronger equipment order intake in all regions, especially in Asia – Increased investment activity in the US § Revenue +28% (+11% organically) – Stronger equipment revenue driv
Slide 5: Facade Access – Business Update
Facade Access – Business Update § Work to standardize the product range continues § Good initial sales of the CG4000 series product range into the Hong Kong residential market § US market continues to rebound, with good order intake in the quarter § Pressure on gross margin from increased raw CG4000
Slide 6: Construction Q3
Construction Q3 § Order intake +20%, (+3% Order intake & Revenue by Quarters Order intake & Revenue by R12M organically) – Improved new equipment and rental sales in Europe and increased parts and service sales in APAC and in Americas § Revenue +27% (+12% organically) – Strong rental activity – Incr
Slide 7: Construction Business Update
Construction Business Update § The division continues to drive a wide range of logistic solutions for our customers § Secured several important orders during the quarter – Large equipment order in the US for Scando 650s and Twin Scando 650 FCS – Orders for the new SC45/30 in India – Large parts & se
Slide 8: Industrial Q3
Industrial Q3 § Order intake +24% (+12% organically) Order intake & Revenue by Quarters Order intake & Revenue by R12M – Strong equipment order intake in US and in Europe – Continued strong development in the Marine and Power segments – Increased order intake in parts and services in all regions § R
Slide 9: Industrial Business Update
Industrial Business Update § Increased activity globally – Dedicated and customer-oriented organization – closer to our customer through segment focus – Largest service contract ever in North America in the power segment – Strong refurbishment orders in APAC within ports segment
Slide 10: Wind Q3
Wind Q3 § Order intake -16% (-24% organically) Order intake & Revenue by Quarters Order intake & Revenue by R12M – The Chinese market continued to be challenging – Order intake for ladders in the US was strong § Revenue -10% (-18% organically) – Lower volumes in China – Equipment revenue in Spain an
Slide 11: Wind – Business Update
Wind – Business Update § Short term market challenges remains – China – High-cost inflation § Attractive long term opportunities based on increased demand for renewable energy § Price management, cost control and lean plans have driven the Wind division results to a record high margin of 15,6% in th
Slide 12: Moving people, material and businesses safely to new heights
“Moving people, material and businesses safely to new heights” 12
Slide 13: Executing on the New Heights Programme
Executing on the New Heights Programme 1 2 3 Establish the base Secure margin improvements Profitable growth 2020 2021 2022-2025 13
Slide 14: Tractel acquisition creates a world leading provider of sustainable premium height solutions
Business update – Q1 FOR INTERNAL USE ONLY Tractel acquisition creates a world leading provider of sustainable premium height solutions § Accelerating Alimak Group’s profitable growth strategy § Annual revenue exceeding SEK 6.0 billion and an EBITA margin of 17% (LTM per 30 June 2022) § Tractel is a
Slide 15: Adding new vertical – Height Safety & Productivity Solutions
Adding new vertical – Height Safety & Productivity Solutions § The acquisition adds a new vertical into Alimak Group – Height Safety & Productivity Solutions § Provides significant synergies for cross selling of solutions § Contributes with a global network of distributors, new customers and segment
Slide 16: Commercial opportunities from the Tractel Acquisition
Commercial opportunities from the Tractel Acquisition Height Safety and Productivity Construction Industrial Facade Access Wind Solutions Tractel Temporary Tractel Permanent Tractel Wind Access Access Solutions § Tractel acquisition strengthens the solution portfolios within Construction, Facade Acc
Slide 17: Strategic partnership with OO Software providing Web-based tool for field service management
Strategic partnership with OO Software providing Web-based tool for field service management § Alimak has acquired 45% of the shares in OO Software AB, a developer of a web-based tool, Service Protocol, for field service management – Reduced administration for the service techs – Automated back-end
Slide 18: Financial summary Q3
Financial summary Q3 MSEK Q3 2022 Q3 2021 D% YTD 2022YTD 2021 D% Order intake 1,086 872 25 3,388 2,860 18 Organic order growth 10 7 Revenue 1,095 902 21 3,109 2,699 15 Organic revenue growth 7 4 EBITA adj 150 119 26 398 339 17 EBITA adj % 13.7 13.2 +0.5 pp 12.8 12.6 +0.2 pp EBITA 118 119 -1 366 339
Slide 19: Earnings summary Q3
Earnings summary Q3 § EBITA adj – Margin improved vs. last MSEK Q3 2022 Q3 2021 DMSEK year, mainly due to EBITA adj 150 119 31 increased Revenues. GM- Items affecting comparability -32 - -32 level kept on a high level EBITA 118 119 -1 through active price management offsetting a Amortisations -10 -9
Slide 20: Result for the period and EPS Q3
Result for the period and EPS Q3 § Result for the period was MSEK 77 (74) Result for the period and EPS MSEK SEK § Adjusted for items affecting comparability (IAC): MSEK 103 (74) § Earnings per share was SEK 1.43 (1.37) growth of 4% § Adjusted for IAC: 1.90 (1.37), growth of 39% *) Calculated on num
Slide 21: Cash flow Q3
Cash flow Q3 § Cash flow from operations MSEK 134 (244) Operating Cash flow, MSEK by Quarter – Improvement of operating cash flow vs. Q1 MSEK and Q2 2022 30 0 – Lower operating cash flow Q3’22 vs. Q3’21 25 0 244 mainly due to – Timing of project payment milestones 20 0 – increased contract assets –
Slide 22: Net debt Q3
Net debt Q3 § Net debt – Increased debt in the quarter, mainly Net debt, MSEK and Leverage by Quarter due to the acquisition of Tall Crane appr. MSEK 200 – The lower cash conversion 2022 impacting the current debt level § Leverage – Continued strong financial position § ~ 1.7 billion SEK in unutilis
Slide 23: Summary – Accelerated profitable growth Q3
Summary – Accelerated profitable growth Q3 § Executing the New Heights Programme – Accelerated profitable growth in the quarter – Acquisition of Tall Crane Equipment (closed 24 August) – Acquisition of Tractel (expected closing in Q4) § Rights issue as soon as practically possible after the closing
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