Consti Oyj · OMXHEX:CONSTI
Consti Oyj — Q3 2021 Earnings Presentation
27 slides from Consti Oyj's earnings presentation, Oct 27, 2021
Slide 1: Consti Plc Interim Report 1 January – 30 September 2021
CONSTI PLC INTERIM REPORT 1 JANUARY – 30 SEPTEMBER 2021 CEO Esa Korkeela CFO Joni Sorsanen
Slide 2: Contents
CONTENTS 1. Highlights and Group performance 2. Cash flow and financial position 3. Market outlook, guidance and summary 4. Appendix 1 27 October 2021 Consti Plc / Interim Report 1-9/2021
Slide 3: Highlights of 1-9/2021 and Q3/2021
Highlights of 1-9/2021 and Q3/2021 Net sales grew, profitability improved NET SALES: ADJUSTED EBIT: FREE CASH FLOW: EUR 206.2m EUR EUR 6.5m EUR EUR -0.7m EUR 1-9/2021 +7.8m 1-9/2021 +0.5m 1-9/2021 -1.0m EUR +9.6m Q3/2021 EUR +0.6m Q3/2021 EUR -15.4m Q3/2021 EUR 76.0m EUR 3.1m EUR 3.6m EUR EUR No. +1
Slide 4: Quarterly performance overview
Quarterly performance overview Net sales, order intake and order backlog grew y-o-y QUARTERLY NET SALES (EUR m) QUARTERLY ORDER INTAKE (EUR m) QUARTERLY ORDER BACKLOG (EUR m) FY’19 ORD. FY’20 ORD. FY’19 NET SALES: FY’20 NET SALES: INTAKE: INTAKE: EUR 314.8m EUR 274.6m EUR 214.8m EUR 214.3m 98,5 237,
Slide 5: Quarterly net sales development
Quarterly net sales development Q3/2021 net sales amounted to EUR 76.0m, growing 11.4% year-on-year Quarterly net sales development Q1/2019 – Q3/2021 (EUR m) Comments 115 ■ Q3/2021 net sales EUR 76.0m (68.2m) – Year-on-year growth 11.4% 95 – Housing Companies net sales EUR 27.6m (23.8m) ➔ Quarterly
Slide 6: Quarterly Adjusted EBIT and EBIT development
*Adjusted EBIT = EBIT before items affecting comparability (IAC) Quarterly Adjusted EBIT and EBIT development ▪ IAC during the reporting period and comparison periods = Financial impact of arbitral award received in Profitability continued to improve in the third quarter June 2021 as well as legal c
Slide 7: Quarterly order intake development
Quarterly order intake development Q3/2021 order intake amounted to EUR 40.0 million, growth of 28.9% year-on-year Quarterly order intake development Q1/2019 – Q3/2021 (EUR m) Comments 120 ■ Q3/2021 order intake EUR 40.0m (31.0m) – Year-on-year growth 28.9% 100 – Examples of new orders received in Q
Slide 8: Quarterly order backlog development
Quarterly order backlog development Q3/2021 order backlog at EUR 217.9 million, growth of 15.0% y-o-y Quarterly order backlog development Q1/2019 – Q3/2021 (EUR m) Comments 250 ■ Q3/2021 order backlog at EUR 217.9m (189.4m) 237,8 236,2 226,8 – Year-on-year growth +15.0% 217,9 – Order backlog up by 2
Slide 9: Quarterly development in number of personnel
Quarterly development in number of personnel Total number of personnel at the end of Q3/2021 increased by 39 year-on-year Quarterly development in number of personnel Q1/2019 – Q3/2021 Comments 1 072 1 052 1200 1 028 ■ Number of personnel at the end of Q3/2021: 998 998 997 990 (959), increase of 39
Slide 10: Strategy implementation progressing according to plan
Strategy implementation progressing according to plan Group Strategy 2021-2023 Comments ■ The strategy for 2021-2023 emphasises the utilisation of attractive growth opportunities in Consti’s existing businesses and increasing the value Consti creates for its customers ■ In Jan-Sep 2021, strategy imp
Slide 11: Contents
CONTENTS 1. Highlights and Group performance 2. Cash flow and financial position 3. Market outlook, guidance and summary 4. Appendix 10 27 October 2021 Consti Plc / Interim Report 1-9/2021
Slide 12: Quarterly free cash flow development
Quarterly free cash flow development Q3 cash flow EUR 3.6 million, in line with July-Sep EBITDA of EUR 4.0 million Quarterly free cash flow1) and EBITDA Q1/2019 – Q3/2021 (EUR m) Comments 25 ■ Q3/2021 free cash flow EUR 3.6m (4.6m) Cash conversion Q1 ’19 – Q3 ’21: 87% – EBITDA amounted to EUR 4.0m (
Slide 13: Quarterly net working capital development
Quarterly net working capital development Net working capital at EUR -10.2 million at the end of Q3/2021 Quarterly net working capital1) Q1/2019 – Q3/2021 (EUR m) Comments Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 0 ■ Net working capital EUR -10.2m (-15.6m) at the end of Q3/2
Slide 14: Quarterly balance sheet structure
Quarterly balance sheet structure Q3 financial position strengthened compared to previous quarter Quarterly net debt, equity ratio and gearing Q1/2019 – Q3/2021 Comments 30 100% 92,0 % ■ Financial position as per 30 September 2021 85,2 % 83,3 % 90% strengthened during the third quarter 25 76,3 % 80%
Slide 15: Maturity distribution of interest-bearing debt (30 September 2021)
Maturity distribution of interest-bearing debt (30 September 2021) Consti refinanced its long-term loan in June 2021 Maturity profile of interest-bearing debt1) as per 30 Sep 2021 (EUR m) Comments 35 ■ Consti’s gross interest-bearing debt at EUR 28.1 million (excluding IFRS 16) at the end of Q3/2021
Slide 16: Contents
CONTENTS 1. Highlights and Group performance 2. Cash flow and financial position 3. Market outlook, guidance and summary 4. Appendix 15 27 October 2021 Consti Plc / Interim Report 1-9/2021
Slide 17: Economic sentiment and construction confidence in Finland
Economic sentiment and construction confidence in Finland have surpassed their long-term average levels as well as the pre-pandemic levels Economic Sentiment and Construction Confidence / Finland (2007 – 9/2021) Comments 160 ■ The spread of coronavirus and its Economic Sentiment Indicator accompanyi
Slide 18: Stable growth in renovation expected to continue going forward
Stable growth in renovation expected to continue going forward Finnish new building and renovation market development 2008 – 2023 Comments EUR b Renovation volume (real) New building volume (real) ■ According to Euroconstruct, the value of building renovation amounted to approximately EUR 13.8 billi
Slide 19: Long-term growth outlook for Finnish renovation market is positive
Long-term growth outlook for Finnish renovation market is positive In 2020-2030, renovation is expected to outgrow new building market Development of building renovation market in Finland (EUR b) Comments 18 ■ According to Forecon, the value of Finnish building renovation market amounted to approxim
Slide 20: Finnish renovation market highly fragmented
Finnish renovation market highly fragmented Consti continued to be the largest player in Finnish renovation in 2020 Renovation sales development of selected renovation peers in 2017-2020 Fragmented Finnish renovation market* (EUR m) Estimated market shares of selected peers in 2017-2020 350 10,0 % 9
Slide 21: Outlook and guidance for 2021
Outlook and guidance for 2021 ■ The renovation market is estimated to grow by about one percent in 2021 ■ Uncertainty in Consti’s operating environment towards the end of the year is intensified in particular by the rising costs of construction materials and possible availability problems ■ The incr
Slide 22: Summary
Summary 1. Q3 net sales, order intake and order backlog grew year-on-year 2. Solid performance in Q3: profitability improved in all business areas year-on-year 3. Financial position strengthened from previous quarter as a result of improved profitability and cash flow 4. Acquisition of RA-Urakointi
Slide 23: Contents
CONTENTS 1. Highlights and Group performance 2. Cash flow and financial position 3. Market outlook, guidance and summary 4. Appendix 22 27 October 2021 Consti Plc / Interim Report 1-9/2021
Slide 24: Consti's strategic focus areas
To achieve its vision and goals, Consti has defined the following strategic focus areas: 1• Growth in current business controlled and profitable growth in attractive renovation and building technology segments 2• New businesses comprehensively answering customer needs by growing in attractive ne
Slide 25: The Consti Way is Consti people's way of working and leading
THE CONSTI WAY IS CONSTI PEOPLE’S WAY OF WORKING AND LEADING
Slide 26: Kumppanisi korjausrakentamisessa | www.consti.fi
Kumppanisi korjausrakentamisessa | www.consti.fi
Slide 27: Interim Report Consti Plc Q3
INTERIM REPORT 1-9/2021 CONSTI PLC Q3 CONSTI PLC VALIMOTIE 16 FI-00380, HELSINKI BUSINESS ID 2203605-05 WWW.CONSTI.FI 26 26 April 2019 Consti Group Plc / Interim Report 1-3/2019