Ncab Group Ab · OMXSTO:NCAB
Ncab Group Ab — Q2 2022 Earnings Presentation
22 slides from Ncab Group Ab's earnings presentation, Jul 21, 2022
Slide 1: Continued robust growth, higher margins and good cashflow
NCAB Q2 2022 | July, 21 Continued robust growth, higher margins and good cashflow
Slide 2: Today's presenters
Today’s presenters PETER KRUK CEO ANDERS FORSÉN CFO 2 NCAB GROUP © Q2 2022 presentation
Slide 3: Q2 2022 for NCAB
SUMMARY IN FIGURES Q2 2022 for NCAB A good quarter with Net Sales of 1,122 MSEK and strong organic growth of 15% in USD. Acquisitions bring sales growth to 25% in USD. Continued high order intake, 1,035 MSEK down 2% in SEK. For comparable units in USD, it was a decrease of 27%. However, if the extra
Slide 4: Important events in the first quarter
Important events in the first quarter Dividend for 2022 decided by AGM to be 0.60 sek per share, to be paid with 50% in May and 50% in October. A new credit facility was signed with Nordea after the quarter for further 300 MSEK in order to facilitate future acquisitions. On April 8 NCAB sold its Rus
Slide 5: KESTREL industrial circuits in UK
ACQUISITION FINALISED 24 JUNE 2022 KESTREL industrial circuits in UK Kestrel is a high quality supplier of value-added PCB solutions with annual net sales of 125 MSEK, mainly in the UK. In the last twelve months period the EBITA result amounted to 17 MSEK. Kestrel was founded in 1995 and has 20 empl
Slide 6: PCBs for making PCB-As
THIS IS WHAT WE DO PCBs for making PCB-As 6 NCAB GROUP © Q2 2022 presentation
Slide 7: Our growth journey accelerates
THIS IS NCAB Our growth journey accelerates RedBoard Meta IPO PreventPCB KESTREL 1993 2004 M-Wave Flatfield 2011 Elmatica PD circuit UAE Multiprint, BBG 3220 Altus sas-electronics Macedonia Norway China Germany UK USA 2018 Malaysia Sweden Finland Denmark Russia Spain Poland France Italy Benelux CAGR
Slide 8: The second quarter in numbers
The second quarter in numbers Robust growth continues Q2 1,122 114 160 14.3 % 2022 Net sales, MSEK Net sales, MUSD EBITA, MSEK EBITA margin Change vs +47% +25% +54% +0.7pp Q2 2021 8 NCAB GROUP © Q2 2022 presentation
Slide 9: Good growth and high margins in the quarter
Good growth and high margins in the quarter Sales growth in USD EBITA margin +78% incl acquisitions NORDIC +10% excl 19.9% +30% incl acquisitions EUROPE +22% excl 12.4% +27% incl acquisitions NORTH AMERICA +19% excl 14.8% -53% EAST -18% ex Russia 18.9% 9 NCAB GROUP © Q2 2022 presentation
Slide 10: Increased top-line growth with higher margins
Increased top-line growth with higher margins 4 103 3 220 2 115 1 781 1 617 1 400 31,3% 31,7% 31,3% 30,2% 30,3% 30,7% 2017 2018 2019 2020 2021 Q22022 LTM 10 NCAB GROUP © Q2 2022 presentation
Slide 11: Net sales growing compared to last year
Net sales growing compared to last year Growth in net sales in USD 25%, in SEK 47%, MSEK for comparable units in USD growth 15%. 1200 1,122 Order intake decreased in USD by 17%, in SEK by 2% to 1,035 MSEK. 1000 For comparable units orders decreased 27% in USD, and with 14% in SEK. 800 864 First half
Slide 12: Results and margins continue to increase
Results and margins continue to increase MSEK 160 160 14% EBITA increased by 54 percent to 140 14.3% 160 MSEK (104). The EBITA margin 12% 120 103 increased to 14.3% (13.6). 10% 100 The EBITA margin excluding 13.6% 8% transaction costs was 14.7 % (12.3). 80 60 6% Earnings per share was 0.75 SEK 4% (0
Slide 13: Nordic
SEGMENTS Nordic MSEK 20% EBITA margin 19.9 20% Order intake increased by 30% in 300 USD and by 53% in SEK. 300 18% 16% Driven by acquisition of Elmatica 250 16.1 and strong development in 14% Denmark and Norway. 200 12% Net sales in USD grew by 78% and in 150 10% SEK by 109% to 300 MSEK (144). 8% 14
Slide 14: Europe
SEGMENTS Europe MSEK 30% Net sales growth USD 551 20% Strong net sales growth in all markets, especially Germany, Netherlands and UK. 18% 500 Net sales increased by 30% in USD and 16% with 53% to 551 MSEK (361), growth for 400 361 14% comparable units 22% in USD. 12.4% 12% Order intake decreased by
Slide 15: North America
SEGMENTS North America 27% Net sales MSEK growth USD Order intake decreased by 6% in USD but increased by 11% in SEK, 18.9% 205 20% excluding acquisitions -13% in USD. 180 18% 160 Net sales increased by 27% in USD 138 16% 140 and with 48% to 205 MSEK (138), 14% excluding acquisitions 19% in USD. 120
Slide 16: East
SEGMENTS East -18% MSEK Adjusted Net sales growth USD Order intake decreased by 63% in USD, 20% and with 56% to 60 MSEK. 140 18% 15.6% Net sales decreased by 53% in USD 120 16% and with 44% to 67 MSEK (120). But 18.9% 14% taken into account the sale of the 100 12% Russian operations sales decreased
Slide 17: The pipeline of possible acquisitions is growing
The pipeline of possible acquisitions is growing Focus on Europe Approx. 170 identified companies and US markets HMLV segment Example of criteria Right customer portfolio No own production Profitable company 45 target companies Shortlist KESTREL, UK META, Germany 2021 & 2022 Elmatica, Norway sas – e
Slide 18: Our integration process important for synergies
Our integration process important for synergies Marketing IT Finance Focus to use one brand Shared tools, – one company Economies of systems scale and platforms Operations Factory and logistics Sales Sustainability Strong relationships – customer contacts and visits People & Culture Acquired compani
Slide 19: KPIs
KPIs June 2022 June 2021 ROE % 43.2 38.7 Net debt/EBITDA 1.6 0.7 Equity/Asset ratio % 32.5 42.3 Net working capital, MSEK 590.4 257.7 Net working capital/Net sales LTM % 10.7 8.0 Available liquidity, MSEK 735 358 19 NCAB GROUP © Q2 2022 presentation
Slide 20: We continue to deliver on our strategic plan!
We continue to deliver on our strategic plan! Consolidate market Expand geographically Deeper collaboration with existing customers Increase market share in Europe, USA and East 20 NCAB GROUP © Q2 2022 presentation
Slide 21: Q&A
Q&A 21
Slide 22: Next quarterly report
Next quarterly report: Q3 2022, November 8 Investor contact: Gunilla Öhman gunilla.ohman@ncabgroup.com 22 NCAB GROUP © Q2 2022 presentation