Ncc Ab Class A · OMXSTO:NCC_A
Ncc Ab Class A — Q2 2019 Earnings Presentation
23 slides from Ncc Ab Class A's earnings presentation, Jul 19, 2019
Slide 1: Interim report Jan-Jun 2019 and Q2
Interim report Jan-Jun 2019 and Q2 Tomas Carlsson CEO Susanne Lithander CFO Fredriksberg, Helsinki 1 2019-07-19 NCC AB
Slide 2: NCC Q2: Remaining on the right track
NCC Q2: Remaining on the right track • Strong orders received in the quarter ‒ Building Nordics and Infrastructure increases order intake ‒ Building Sweden solid base demand but no large order timed to this quarter • Order backlog strongest so far • Net sales on par with last year • Operating profit
Slide 3: Strong orders received
Strong orders received Main driver: Building Nordics and Infrastructure SEK Bn 35 30 31.4 31.6 25 20 15 16.1 13.8 10 5 0 Q2 2018 Q2 2019 H1 2018 H1 2019 3 2019-07-19 NCC AB
Slide 4: Residential orders received
Residential orders received SEK M 5,000 Peak driven mainly by three 4,000 large projects in Denmark Peak driven mainly by several projects in Sweden 3,000 2,000 1,000 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2017 2018 2019 Orders received residential Average 4
Slide 5: Order backlog strongest so far
Order backlog strongest so far SEK Bn 65 63 60 55 50 45 40 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2017 2018 2019 5 2019-07-19 NCC AB
Slide 6: Net sales on par with last year
Net sales on par with last year SEK M 25,000 26,044 25,244 20,000 15,000 14,349 14,610 10,000 5,000 0 Q2 2018 Q2 2019 H1 2018 H1 2019 6 2019-07-19 NCC AB
Slide 7: EBIT on fair level for the quarter
EBIT on fair level for the quarter Positive EBIT in all BAs - impact from restructuring and prudent profit recognition SEK M 500 452 400 411 300 200 100 88 59 0 Q2 2018 Q2 2019 H1 2018 H1 2019 7 2019-07-19 NCC AB
Slide 8: NCC Infrastructure
NCC Infrastructure Orders received on good level and profitability slowly improving Apr-Jun R12 Jul 18 – Jun Jan-Dec SEK M 2019 Apr-Jun 2018 19 2018 Orders received 3,428 2,738 18,517 21,271 Order backlog 21,770 20,161 21,770 21,037 Net sales 4,192 4,325 16,864 16,936 EBIT 81 26 -723 -743 EBIT margi
Slide 9: NCC Building Sweden
NCC Building Sweden No large project this quarter but consistent performance R12 Apr-Jun Apr-Jun Jul 18 – Jun Jan-Dec SEK M 2019 2018 19 2018 Orders received 2,368 3,111 13,234 15,075 Order backlog 16,261 18,422 16,261 18,709 Net sales 3,726 4,057 15,389 15,701 EBIT 76 147 381 453 EBIT margin, % 2.0
Slide 10: NCC Building Nordics
NCC Building Nordics Very strong order intake and improved margins in all markets R12 Apr-Jun Apr-Jun Jul 18 – Jan-Dec SEK M 2019 2018 Jun 19 2018 Orders received 6,210 3,349 16,362 11,229 Order backlog 16,738 11,501 16,738 11,313 Net sales 2,803 2,571 11,253 10,753 EBIT 46 34 -192 -227 EBIT margin,
Slide 11: NCC Industry: Stone and asphalt volumes
NCC Industry: Stone and asphalt volumes Project phasing normalizes volumes in Q2 Stone material sold, thousands of tons Asphalt sold, thousands of tons 10,000 3,000 9,000 8,000 2,500 7,000 2,000 6,000 5,000 1,500 4,000 1,000 3,000 2,000 500 1,000 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q1 Q2 Q3 Q4 Q1 Q2 Q
Slide 12: NCC Industry
NCC Industry Overall a consistent performance R12 Apr-Jun Apr-Jun Jul 18 – Jan-Dec SEK M 2019 2018 Jun 19 2018 Net sales 3,721 3,625 13,162 12,968 EBIT 322 324 375 350 EBIT margin, % 8.6 8.9 2.8 2.7 RoCE, % 6.7 7.1 12 2019-07-19 NCC AB
Slide 13: NCC Property Development
NCC Property Development One property sold in the quarter: Brunna 4 outside Stockholm R12 Apr-Jun Apr-Jun Apr-Jun Jul 18 – Jan-Dec SEK M 2019 2018 2017 Jun 19 2018 Net sales 321 115 185 2,490 2,157 EBIT 40 -16 65 -160 -181 EBIT margin, % 12.5 -13.9 35.2 -6.4 -8.4 RoCE, % -6.0 -3.9 13 2019-07-19 NCC
Slide 14: Portfolio focused on Sweden
Portfolio focused on Sweden One new project started this quarter: Arendal 4 in Gothenburg Lettable space, sqm 250,000 17 No. of projects 18 17 200,000 22 21 21 19 150,000 18 18 Sweden 16 100,000 Norway 50,000 Denmark 0 Finland Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2017 2018 2019 14 2019-07-19 NCC AB
Slide 15: Letting on high level
Letting on high level 220,000 55% 200,000 50% 180,000 45% Remaining unlet area, sqm 160,000 40% 140,000 35% Let during quarter, 120,000 30% sqm 100,000 25% Previously let area, 80,000 20% sqm 60,000 15% Let during quarter 40,000 10% (% of available unlet 20,000 5% area) 0 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Slide 16: Letting and completion status in the property portfolio
Letting and completion status in the property portfolio 100% 90% 80% 70% 60% Letting ratio 50% 40% Completion ratio 30% 20% 10% 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2017 2018 2019 16 2019-07-19 NCC AB
Slide 17: Income statement
Income statement R12 Apr-Jun Apr-Jun Jul 18 - Jan-Dec SEK M 2019 2018 Jun 19 2018 Net sales 14,610 14,349 58,146 57,346 Gross profit 1,137 1,153 2,129 2,140 Selling and administrative expenses -730 -712 -2,883 -2,875 Cost ratio 5.0% 5.0% 5.0% 5.0% Other 4 12 -39 -29 EBIT -411 -452 -793 -764 Financia
Slide 18: Other and eliminations
Other and eliminations Apr-Jun Apr-Jun SEK M 2019 2018 Apr-Jun Apr-Jun NCC Infrastructure 81 26 SEK M 2019 2018 NCC Building Sweden 76 147 NCC HQ etc. -94* -50 NCC Building Nordics 46 34 Internal gains -44 -27 NCC Industry 322 324 Other Group NCC Property Development 40 -16 -22 -10 adjustments Non c
Slide 19: Net debt
Net debt 7,000 6,352 6,000 1,894 5,000 4,000 3,084 2,089 3,000 457 2,000 1,211 2,369 1,000 1,416 0 Q2 2018 Q2 2019 Pension liability Other net debt Leasing liabilities (incl IFRS 16) 19 2019-07-19 NCC AB
Slide 20: Positive trend in cash flow
Positive trend in cash flow SEK BN Cash flow before financing R12 3 Apr-Jun Apr-Jun Jul 18 - Jan-Dec SEK M 2019 2018 Jun 19 2018 2 From operating -297 -897 1,880 790 activities From property 1 -591 -534 -1,075 -1,166 projects Investing 0 -221 -280 -686 -782 activities Cash flow before -1,109 -1,710
Slide 21: NCC Q2: Remaining on the right track
NCC Q2: Remaining on the right track • Strong orders received in the quarter ‒ Building Nordics and Infrastructure increases order intake ‒ Building Sweden solid base demand but no large order timed to this quarter • Order backlog strongest so far • Net sales on par with last year • Operating profit
Slide 22: NCC AB
22 2019-07-19 NCC AB
Slide 23: Contact information and calendar
Contact information and calendar Head of Communication Financial Calendar Maria Grimberg Tel: +46 (0) 70-896 12 88 October 28, 2019 Interim report Jan-Sep [email protected] January 30, 2020 Interim report Jan-Dec Chief Financial Officer Susanne Lithander Tel: +46 (0) 73-037 08 74 susanne.lithand