Slide 1: Bravida Q1 2023
Bravida Q1 2023 Mattias Johansson, CEO Åsa Neving, CFO 3 May 2023
Slide 2: Today's presenters
Today’s presenters Mattias Johansson Åsa Neving CEO and Group President since 2015* CFO since 2019 *With Bravida since 1998 2
Slide 3: Agenda
Agenda 1. Bravida and our position in the Nordic market 2. Q1 2023 3. Performance by country 4. Summary and Q&A
Slide 4: 1. Bravida and our position in the Nordic market
1. Bravida and our position in the Nordic market
Slide 5: About Bravida
About Bravida The leading Nordic provider of Local presence throughout Broad and stable customer base sustainable technical solutions the Nordics for buildings 27.9 bn Net sales LTM, SEK 13,500 employees Sustainable solutions throughout the lifecycle of a building 91% Recurring customers 325 85% bra
Slide 6: Robust and resilient cash flow generator
Robust and resilient cash flow generator Net sales LTM in SEKb and CAGR Stable profitability LTM EBITA in Cash conversion LTM % SEKm and CAGR 6 *adjusted
Slide 7: Nordic leader in sustainable technical solutions
Nordic leader in sustainable technical solutions • Leading Nordic provider of sustainable technical solutions for buildings Sustainable solutions throughout the • Every customer has access to our entire lifecycle of a building offering • Lifecycle perspective for every building • The industry leader
Slide 8: 2. Q1 2023
2. Q1 2023 ~+>bravida
Slide 9: Market outlook
Market outlook • Growing demand for sustainable and energy efficient solutions • Still an overall good demand for service and installation except for newbuild residentials • Uncertain times, increasing interest rates and inflation may lead to delays in investment decisions going forward 9
Slide 10: Q1 highlights
Q1 highlights Net sales +28% • 20% organic growth, growth in all countries • 7% growth from acquisitions Service Order backlog • Increased sales in both service and installation sales growth • Order intake improving in Sweden and Finland, +28% SEK 16,243m in total +4% • EBITA-margin 5.0 (5.1)% Insta
Slide 11: Group Q1 2023
Group Q1 2023 • Growth in sales +28%, both in service and installation • Organic growth +20% and from acquisitions +7% • EBITA-margin 5.0 (5.1)% • Increasing cost for new systems and business development in Growth Segment approx. SEK 34m (17) • Order intake +4% to SEK 6,844m • Order backlog -6% YoY
Slide 12: Net sales performance in Q1, SEKm
Net sales performance in Q1, SEKm Sales growth +28% ▪ Organic growth +20% ▪ Growth in both service and installation business ▪ Organic growth in all countries ▪ Growth from acquisitions +7% ▪ FX effects +1% 12
Slide 13: EBITA, SEKm
EBITA EBITA, SEKm • EBITA-margin 5.0 (5.1)% • Improved EBITA-margin in Norway, unchanged in Sweden and Finland but lower in Denmark • EBITA affected by non-recurring costs for implementing new digital solutions and IT systems needed to realise the business plan, SEK 24m (14) in Q1 • Forecast 2023 fo
Slide 14: Driving the business plan forward increases administrative expenses but will enable improved margin and growth
Driving the business plan forward increases administrative expenses but will enable improved margin and growth Increased recurring costs Initial costs for investments in new businesses ‒ Strengthening the IT platform ‒ Technical Facility Management ‒ Digital development capabilities ‒ Automation ‒ I
Slide 15: Order intake and backlog, SEKm
• Decreasing order backlog SEK-638m in the quarter, but growing order backlog in Sweden and Finland Order intake and backlog, SEKm • Order backlog decreased by -6% YoY, to SEK 16,243m • Order intake increased by +4% YoY, growth in Sweden and Finland Order intake LTM and per quarter Order backlog 15
Slide 16: Sustainability
Sustainability LTIFR (lost time injury frequency rate) LTM • LTIFR on Group level, +3% • Increasing LTIFR in Sweden and Denmark • Norway well below target, <5,5 • 15 percent of the vehicle fleet is electric powered • Change in CO2e emissions from vehicles in relation to net sales LTM -3,6% 16
Slide 17: Acquisitions 2023
Acquisitions 2023 • 5 acquisitions 2023 adding annual sales of SEK 155m 1 bolt-on SEK 23m • Continued strong pipeline Finland Sweden • Acquisitions still at attractive multiples Norway 1 bolt-on SEK 40m SEK 3 bolt-ons Acquisitions 2023 SEK 92m 5 155m Denmark acquired sales 2023 17
Slide 18: 3. Performance by country
3. Performance by country 18
Slide 19: Sweden Q1 2023
Sweden Q1 2023 • Growth in sales +21% • Growth in installation and service • Organic growth +16% and from acquisitions 5% • EBITA-margin unchanged 5.5% • Order intake +25% • Order backlog -1% YoY 19
Slide 20: Norway Q1 2023
Norway Q1 2023 • Growth in sales +25% • Growth in installation and service • Organic growth +27% and from acquisitions +2% • EBITA-margin improved to 4.8 (4.7)% • Order intake -20% • Order backlog -27% YoY 20
Slide 21: Denmark Q1 2023
Denmark Q1 2023 • Growth in sales +42% • Growth in service and installation • Organic growth +20% and from acquisitions +13% • EBITA-margin declined to 4.0 (4.4)% explained by lower project margins • Order intake -19% • Order backlog -10% YoY 21
Slide 22: Finland Q1 2023
Finland Q1 2023 • Growth in sales +36% • Growth in service and installation • Organic growth +21% and from acquisitions +6% • EBITA-margin was unchanged 3.7% • Order intake +51% • Order backlog +58% YoY 22
Slide 23: Net debt and Cash Flow in SEKm
Net debt and Cash Flow in SEKm Operating Cash Flow Key highlights Q1 2023 Financial position Q1 2023 ▪ SEK 2,500m sustainable linked (RCF) Cash balances 1,095 –Drawn facility SEK 200m –Maturity 2024-10-14 Term loan, RCF, Commercial paper -1,621 ▪ Commercial paper programme SEK 1,500m and EUR 50m Lea
Slide 24: Financial targets
Financial targets >7% >100% <2.5x Net debt/EBITDA EBITA margin Cash conversion Target leverage ratio >5% >50% of net profit Sales growth Target pay-out ratio 24
Slide 25: 5. Summary
| 5. Summary
Slide 26: Summary Q1 2023
Summary Q1 2023 • Sales increased in all countries, +28% • Organic growth +20% • Organic growth in all countries • Growth from acquisitions +7% • Slightly lower but stable EBITA-margin • EBITA-margin affected by increased cost for develop the business according to plan • Earnings per share +18% • LT
Slide 27: 2023-05-05 ~+>bravida
2023-05-05 ~+>bravida
Slide 28: Upcoming events
Upcoming events Day Event 14 July 2023 Interim Report Q2 2023 25 October 2023 Interim Report Q3 2023 28
Slide 29: We bring buildings to life.
We bring buildings to life. <>bravida