Consti Oyj · OMXHEX:CONSTI
Consti Oyj — H1 2021 Earnings Presentation
24 slides from Consti Oyj's earnings presentation, Jul 23, 2021
Slide 1: Consti Plc Half-Year Financial Report 1 January – 30 June 2021
CONSTI PLC HALF-YEAR FINANCIAL REPORT 1 JANUARY – 30 JUNE 2021 CEO Esa Korkeela CFO Joni Sorsanen
Slide 2: Contents
CONTENTS 1. Highlights and Group performance 2. Cash flow and financial position 3. Market outlook, guidance and summary 4. Appendix 1 23 July 2021 Consti Plc / H1 Financial Report 2021
Slide 3: Highlights of the H1/2021 and Q2/2021
Highlights of the H1/2021 and Q2/2021 Adjusted EBIT improved, order backlog strengthened NET SALES: ADJUSTED EBIT: FREE CASH FLOW: EUR 130.2m EUR EUR 3.4m EUR EUR -4.3m EUR H1 2021 +1.6m H1 2021 +0.2m H1 2021 -9.5m EUR +1.8m Q2/2021 EUR +0.1m Q2/2021 EUR -14.4m Q2/2021 EUR 70.9m EUR 2.9m EUR -1.4m E
Slide 4: Quarterly performance overview
Quarterly performance overview Net sales, order intake and order backlog grew y-o-y QUARTERLY NET SALES (EUR m) QUARTERLY ORDER INTAKE (EUR m) QUARTERLY ORDER BACKLOG (EUR m) FY’19 NET SALES: FY’20 NET SALES: FY’19 ORD. INTAKE: FY’20 ORD. INTAKE: EUR 314.8m EUR 274.6m EUR 214.8m EUR 214.3m 98,5 237,
Slide 5: Quarterly net sales development
Quarterly net sales development Q2 net sales amounted to EUR 70.9m, growing 2.3% year-on-year Quarterly net sales development Q1/2019 – Q2/2021 (EUR m) Comments 115 ■ Q2/2021 net sales EUR 70.9m (69.3m) – Year-on-year growth 2.3% 95 – Housing Companies net sales EUR 21.7m (24.8m) ➔ Quarterly Net sal
Slide 6: Quarterly Adjusted EBIT and EBIT development
*Adjusted EBIT = EBIT before items affecting comparability (IAC) Quarterly Adjusted EBIT and EBIT development ▪ IAC during the reporting period and comparison periods = Financial impact of arbitral award received in Adjusted EBIT improved, reported EBIT affected by St. George arbitral award June 202
Slide 7: Quarterly order intake development
Quarterly order intake development Q2/2021 order intake EUR 98.5 million, growth of 47.4% year-on-year Quarterly order intake development Q1/2019 – Q2/2021 (EUR m) Comments ■ Q2/2021 order intake EUR 98.5m (66.8m) 100 – Year-on-year growth +47.4% 98,5 – Order intake value during Q2 was increased ia.
Slide 8: Quarterly order backlog development
Quarterly order backlog development Q2/2021 order backlog at EUR 236.2 million, growth of 11.5% y-o-y Quarterly order backlog development Q1/2019 – Q2/2021 (EUR m) Comments 250 ■ Q2/2021 order backlog at EUR 236.2m (211.8m) 237,8 236,2 226,8 – Year-on-year growth 11.5% – Order backlog up by 32.8% co
Slide 9: Quarterly development in number of personnel
Quarterly development in number of personnel Total number of personnel 1,003 at the end of Q2/2021, virtually on last year’s level Quarterly development in number of personnel Q1/2019 – Q2/2021 Comments 1 072 1 052 1200 1 028 ■ Number of personnel at the end of Q2/2021 1,003 (999), increase of 4 998
Slide 10: Contents
CONTENTS 1. Highlights and Group performance 2. Cash flow and financial position 3. Market outlook, guidance and summary 4. Appendix 9 23 July 2021 Consti Plc / H1 Financial Report 2021
Slide 11: Quarterly free cash flow development
Quarterly free cash flow development Q2 free cash flow EUR -1.4 million impacted by change in net working capital Quarterly free cash flow1) and EBITDA Q1/2019 – Q2/2021 (EUR m) Comments 25 ■ Q2/2021 free cash flow EUR -1.4m (8.1m) – EBITDA amounted to EUR 0.3m (3.2m) Free cash flow and EBITDA (EUR
Slide 12: Quarterly net working capital development
Quarterly net working capital development Net working capital at EUR -10.0 million at the end of Q2/2021 Quarterly net working capital1) Q1/2019 – Q2/2021 (EUR m) Comments Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 ■ Net working capital EUR -10.0m (-13.8m) at the end 0 of Q2/2021 Ne
Slide 13: Quarterly balance sheet structure
Quarterly balance sheet structure Q2 financial position weakened year-on-year as well as compared to previous quarter Quarterly net debt, equity ratio and gearing Q1/2019 – Q2/2021 Comments 30 100% 92,0 % ■ Financial position as per 30 June 2021 weakened 85,2 % 83,3 % 90% during the second quarter 2
Slide 14: Maturity distribution of interest-bearing debt (30 June 2021)
Maturity distribution of interest-bearing debt (30 June 2021) Consti refinanced its long-term loan in June 2021 Maturity profile of interest-bearing debt1) as per 30 June 2021 (EUR m) Comments 35 ■ Refinancing of long-term loan in June 2021 5,3 – Previous loan EUR 17.5 million in total, were paid ba
Slide 15: Contents
CONTENTS 1. Highlights and Group performance 2. Cash flow and financial position 3. Market outlook, guidance and summary 4. Appendix 14 23 July 2021 Consti Plc / H1 Financial Report 2021
Slide 16: Economic sentiment and construction confidence in Finland
Economic sentiment and construction confidence in Finland following the development of the pandemic situation Economic Sentiment and Construction Confidence / Finland (2007 – 6/2021) Comments 150 ■ The spread of coronavirus and its Economic Sentiment Indicator 140 accompanying containment measures E
Slide 17: Stable growth in renovation expected to continue going forward
Stable growth in renovation expected to continue going forward Finnish new building and renovation market development 2008 – 2023 Comments EUR b Renovation volume (real) New building volume (real) ■ According to Euroconstruct, the value of building renovation amounted to approximately EUR 13.8 35 bi
Slide 18: Outlook and guidance for 2021
Outlook and guidance for 2021 ■ Although market research institutes expect the renovation market to grow in 2021, new waves of the pandemic continue to cause uncertainty to Consti’s operating environment ■ The operating environment in H2/2021 will also be affected by the rapid rise in the cost of bu
Slide 19: Summary
Summary 1. Q2 Adjusted EBIT improved, operationally Q2 progressed according to expectations Hotel St. George arbitral tribunal’s award received in June, having a one-off negative impact on result but no 2. longer burdening future outlook 3. Q2 order intake grew strongly, +47.4% y-o-y, order backlog
Slide 20: Contents
CONTENTS 1. Highlights and Group performance 2. Cash flow and financial position 3. Market outlook, guidance and summary 4. Appendix 19 23 July 2021 Consti Plc / H1 Financial Report 2021
Slide 21: Consti's strategic focus areas
To realise its vision and goals, Consti has defined the following strategic focus areas: 1• Growth in current business controlled and profitable growth in attractive renovation and building technology segments 2• New businesses comprehensively answering customer needs by growing in attractive ne
Slide 22: The Consti Way is Consti people's way of working and leading
THE CONSTI WAY IS CONSTI PEOPLE’S WAY OF WORKING AND LEADING
Slide 23: Kumppanisi korjausrakentamisessa | www.consti.fi
Kumppanisi korjausrakentamisessa | www.consti.fi
Slide 24: Half-Year Financial Report Consti Plc H1
HALF-YEAR FINANCIAL REPORT 1-6/2021 CONSTI PLC H1 CONSTI PLC VALIMOTIE 16 FI-00380, HELSINKI BUSINESS ID 2203605-05 WWW.CONSTI.FI 23 26 April 2019 Consti Group Plc / Interim Report 1-3/2019