Slide 1: Q4 2022
Q4 2022 Christopher Norbye – CEO Ulf Berghult – CFO 1
Slide 2: Table of content
1 Highlights Table of 2 Financials content 3 Summary 4 Q&A 2
Slide 3: At a glance
At a glance Net Sales (R12M) Employees Countries Branches Customers 22 638 4 720 42 450 >100 000 (MSEK) 3
Slide 4: Highlights Q4 2022
Highlights Q4 2022 Continued high sales during the quarter Sales at 5 818 MSEK (4 271) an increase of 36 percent Organic sales increased by 17,9 percent Acquisition impact of +8,9 percent FX impact of +9,3 percent EBITA, excluding items affecting comparability, at 570 MSEK (338), correspon
Slide 5: Highlights Q4 2022
Highlights Q4 2022 Organic growth by product groups +18% Continued good underlying demand 5 500 5 000 The underlying organic demand has remained strong in OEM and HVAC 4 500 4 000 Q4 2021 Q4 2022 segments and stable in Commercial cooling 3 500 +29% 3 000 +5% Strong momentum in EMEA and especiall
Slide 6: Update External
Update External Supply chain issues continues to ease. Sustainable cooling will be firmly on the agenda at this year’s COP28 meeting with UNEP promising a Global Cooling Pledge and a Cool COP Menu of Actions. Component manufacturers have called on Swedish refrigeration and air conditioning European
Slide 7: Financials
BEVER REF Financials Q4 2022
Slide 8: Q4 2022 Sales growth
Q4 2022 Organic EPS Sales EBITA* growth Growth* growth Change in EBITA, % Change in % % % 36% 18% 69% 47% * Excluding Items affecting comparability 8
Slide 9: Q4 2022 - Sales
Q4 2022 - Sales 7 000 6 500 6 000 +8,9% 382 +36,2% 5 500 +17,9% 5 000 827 +9,3% 4 500 338 4 000 5 818 4 271 500 0 Q4 21 FX Organic M&A Q4 22 9
Slide 10: Sales development %
Sales development % % 40 35 30 25 20 38 37 36 15 31 30 25 10 5 13 4 7 0 1 -1 -3 -5 -17 -10 -15 -20 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Of which organic growth Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 0,9 -3,2 -17,8 -1,7 -
Slide 11: Sales - Region
Sales - Region 6 000 +33% 32 +21% 333 +111% 5 500 67 +23% 257 +42% 5 000 341 +47% 358 4 500 5 818 223 4 000 4 271 0 Q4 21 Nordic Central Europe South Europe East Europe Africa APAC Elim Q4 22 11
Slide 12: Q4 2022 – EBITA
Q4 2022 – EBITA +69% 570 9.8 7.9 338 Q4 21 Q4 22 Q4 21 Q4 22 EBITA* EBITA %* * Excluding Items affecting comparability 12
Slide 13: EBITA* development
EBITA* development % 700 10.4 10.4 11 9.8 600 9.4 10 500 8.4 8.3 9 7.9 7.9 7.4 8 400 7 300 618 622 570 6 200 431 407 366 338 5 271 275 100 4 0 3 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 EBITA EBITA % * Excluding Items affecting comparability 13
Slide 14: EBIT* - Region
EBIT* - Region 550 +25% +20% +261% 5 21 9 500 +56% 54 450 +53% 49 400 +69% 34 350 47 300 543 250 200 326 150 100 50 0 Q4 21 Nordic Central Europe South Europe East Europe Africa APAC Others Q4 22 * Excluding Items affecting comparability 14
Slide 15: P&L - Group
P&L - Group MSEK Q4 2022 Q4 2021 Change % 12M 2022 12M 2021 Sales 5 818 4 271 36% 22 638 16 905 Organic change % 17,9% 16,4% Change through acquisitions % 8,9% 10,7% Exchange rate fluctuation % 9,3% 6,8% Change total 36,2% 33,9% EBITA excl. items affecting comparability 570 338 69% 2 217 1 410 EBITA
Slide 16: Earnings per share
Earnings per share1 % 4.0 +51% 3.5 3.0 2.5 2.0 3.86 1.5 2.56 +48% 1.0 0.5 0.96 0.65 0.0 Q4 21 Q4 22 2021 2022 1. After dilution and excluding Items affecting comparability 16
Slide 17: Operating cash flow
Operating cash flow +946 (-302%) 700 28 19 30 600 500 400 300 707 633 200 100 0 -100 313 -200 256 -300 -400 Q4 21 EBITDA Working capital Capex Leasing Other Q4 22 17
Slide 18: Operating cash flow
Operating cash flow MSEK 700 1.0 600 0.9 500 0.8 400 0.7 300 633 0.6 200 377 279 307 0.5 100 182 0.4 0 -100 -207 0.3 -313 -295 -358 0.2 -200 -300 0.1 -400 0.0 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 18
Slide 19: Net debt
Net debt Net debt Net debt / EBITDA* 2.8 MSEK Q4 22 Q4 21 2.8 2.7 2.7 2.6 2.6 2.5 L12M EBITDA excl. Items affecting comparability 2 717 1 835 2.4 2.2 2.1 2.1 2.0 2.0 Net debt 7 204 4 585 2.0 Of which 1.8 1.6 Pension debt 110 142 1.4 Leasing liabilities, according to IFRS 16 1 814 1 476 1.2 Net debt
Slide 20: Conclusion
Conclusion CONTINUED GOOD DEVELOPMENT IN Q4 Sales growth of 36% driven by strong organic growth of 18% supported by acquisitions growth of 9% EBITA excluding items affecting comparability growth of 69% and improved margin from 7,9% to 9,8% Strong operational cash flow in the quarter STRONG DEV
Slide 21: Q&A
BEVER REF Q&A 21
Slide 22: Thank you
BEVER REF Thank you