Sdiptech Ab Class B · LSIN:0AAV
Sdiptech Ab Class B — FY2023 Earnings Presentation
19 slides from Sdiptech Ab Class B's earnings presentation, February 2024
Slide 1: Year End Report January – December 2023
Year End Report January – December 2023 Bengt Lejdström My Lundberg Creating sustainable, efficient and safe societies President & CEO tf CFO Head of Sustainability & IR
Slide 2: Summary of 2023
Summary of 2023 Highlights Net sales increased by 37%, of which 18% was organic ▪ excl. currency 4,818 MSEK Net Sales (LTM Q4 2023) ▪ Adjusted EBITA increased by 37%, of which 13% was organic excl. currency ▪ Adjusted EBITA margin of 19.1% 922 MSEK Adj. EBITA (LTM Q4 2023) ▪ Recovery of cash flow fo
Slide 3: Summary of the fourth quarter
Summary of the fourth quarter Highlights Demand strong, favorable market conditions continue ▪ Net sales increased 35%, of which 20% organic excl. currency 4,818 ▪ Stable development for Rolec with a strong position in B2B segment on a somewhat slower MSEK Net Sales EV market (LTM Q4 2023) ▪ Solid d
Slide 4: Net sales & Adj. EBITA margin
Net sales & Adj. EBITA margin Quarter MSEK 5,000 4,818 25% Net Sales Adj. EBITA margin Strong demand from in almost all business units 4,467 4,500 ▪ Net sales increased by 35% ▪ 20% organic 3,797 4,119 19.2% 19.4% 19.3% 19.1% 20% 18.7% 19.1% 4,000 ▪ 10% acquisitions ▪ 5% currency 3,505 3,500 16.6% A
Slide 5: Sales split
Sales split Turnover by type of revenue Geographical distribution of sales LTM Q4 2023 LTM Q4 2023 Distribution Other, rest of the world 0% 6% Service Sweden 21% Other, Europe 19% 13% Italy 4% Norway 5% 58% 21% 5% Germany 5% USA 42% Installation Proprietary products United Kingdom 5 Sources: Sdiptec
Slide 6: Adj. EBITA
Adj. EBITA MSEK Quarter 1,000 25% Adj. EBITA 922 864 ▪ Adj. EBITA increased by 29%, whereof 800 9% organic, excl currency effects 20% ▪ Many comparable units had stronger 730 results than last year 671 ▪ Acquired units had earnings in line with or 15% above expectations 509 500 2023 10% 347 ▪ Adj. E
Slide 7: Resource Efficiency
Resource Efficiency Quarter Water & Sanitation Net sales (SEKm) Adj. EBITA (SEKm) Adj. EBITA margin (%) Sales increased by 49% to SEK 460m (309) ▪ Comparable units mainly contributed 1 650 Power & energy ▪ All three segments preformed well 24,3% ▪ Rolec increased sales significantly 22,2% 21,7% comp
Slide 8: Special Infrastructure Solutions
Special Infrastructure Solutions Quarter Water & Sanitation Net sales (SEKm) Adj. EBITA (SEKm) Adj. RBITA margin (%) 3 169 Sales increased by 28% to SEK 909m (709) ▪ Solid contribution from several large 20,2% 18,6% 19,7% Power & energy comparable units 17,5% 2 235 ▪ Equipment for forklift trucks ▪
Slide 9: Acquisition in Q1 (-24): Welcome JR Industries
Acquisition in Q1 (-24): Welcome JR Industries ▪ Annual EBIT of approx. GBP 4.5 million ▪ Established as a principal manufacturer of roller shutter doors for commercial vehicles in Europe ▪ Stable underlying growth driven by electrification of delivery vehicles, the ongoing surge in e-commerce, and
Slide 10: Acquisitions EBITA MSEK
Acquisitions 180 158 161 160 ▪ HeatWork AS in Norway (Q1-23) 150m • Financial target 2021- : 120-150msek 140 ▪ Kemi-tech ApS in Denmark (Q2-23) 120 120m ▪ JR Industries Ltd in UK (Q1-24) • Financial target 2016-20: 90msek EBITA MSEK 100 93 94 ------------------------------------------ 90 83 80 ▪ Gre
Slide 11: Cash flow & Cash conversion
Cash flow & Cash conversion MSEK 700 115.0% 109.0% 120% 2023 619 110% 565 100% ▪ 67% cash conversion ▪ Below normal levels around 80%, improvement from 90% 80.0% first two quarters 451 385 80% 71.0% 63.0% 67.0% 70% Second half year 56.0% 60% 313 ▪ Working hard to manage accounts receivables and 50%
Slide 12: Additional metrics
Additional metrics Oct-Dec Oct-Dec Jan-Dec Jan-Dec 2023 2022 2023 2022 Profit before tax, (SEK million) 138.46 132.9 611.5 536.8 Earnings per ordinary share after dilution (SEK) 2.31 2.80 11.33 11.48 Financial net debt1/Adjusted EBITDA, multiple 2.02 2.35 2.02 2.35 Net debt2/Adjusted EBITDA, multipl
Slide 13: Additional metrics
Additional metrics Oct-Dec Oct-Dec Jan-Dec Jan-Dec 2023 2022 2023 2022 Profit before tax, (SEK million) 138.46 132.9 611.5 536.8 Earnings per ordinary share after dilution (SEK) 2.31 2.80 11.33 11.48 Financial net debt1/Adjusted EBITDA, multiple 2.02 2.35 2.02 2.35 Net debt2/Adjusted EBITDA, multipl
Slide 14: Additional metrics
Additional metrics Oct-Dec Oct-Dec Jan-Dec Jan-Dec 2023 2022 2023 2022 Profit before tax, (SEK million) 138.46 132.9 611.5 536.8 Earnings per ordinary share after dilution (SEK) 2.31 2.80 11.33 11.48 Financial net debt1/Adjusted EBITDA, multiple 2.02 2.35 2.02 2.35 Net debt2/Adjusted EBITDA, multipl
Slide 15: Looking ahead
Looking ahead Highlights Solid demand in the infrastructure segments where we are present ▪ Important solutions for our customers and supported by solid long-term drivers ▪ Thrive towards more sustainable, efficient and safe societies ▪ Aging and under-dimensioned assets ▪ Technical development Lowe
Slide 16: Appendix
Appendix > svITECH
Slide 17: Management Team and Board of Directors
Management Team and Board of Directors Management Bengt Lejdström 83,140 (Class B) 500 (Pref) 87,500 (Warrants) Anders Mattson 50,533 (Class B) 52,000 (Warrants) CEO & tf CFO Lagercrantz Group, Interim Justitia, Acando Head of Special Munters, Roland Berger, Bearingpoint M.Sc. Stockholm School of Ec
Slide 18: Ownership 31 December 2023
Ownership 31 December 2023 Owner SDIP A SDIP B PREF CAPITAL % VOTES % Vulcan Value Partners, LLC 4,007,831 10,08% 7,63% Handelsbanken Fonder 3,233,107 8,14% 6,15% Swedbank Robur Fonder 3,184,909 8,01% 6,06% Invesco 2,301,479 5,79% 4,38% Cliens Fonder 2,043,478 5,14% 3,89% Ashkan Pouya 1,424,000 592,
Slide 19: EBITA* → Net profit
EBITA* → Net profit MSEK 2023 2022 2023 2022 Q4 Q4 Full year Full Year Net Sales 1,368.4 1,017.5 4,818.3 3,505.2 Operational costs -1,115.8 -821.9 -3,896.7 -2,834.1 Profit from operations, EBITA* 252.6 195.6 921.6 671.1 EBITA*, best representation of the profits from the ongoing operations Acquisiti