Fagerhult Group Ab · OMXSTO:FAG
Fagerhult Group Ab — Q1 2021 Earnings Presentation
25 slides from Fagerhult Group Ab's earnings presentation, Apr 29, 2021
Slide 1: We light up your world – Q1 2021 presentation
We light up your world Q1 2021 presentation April 29, 2021 www.fagerhultgroup.com
Slide 2: First quarter
First quarter Sales development ─ Steady progress and ongoing recovery ─ Still see the effects of Covid, varies between geographies ─ Organic sales growth in the quarter Operating margin ─ Improved to 9,1% ─ Lower cost base, benefit of last year’s restructuring Acquistion of Seneco to strengthen our
Slide 3: Q1 2021 in figures
Q1 2021 in figures 1800 180 1600 160 Order intake: 1 854 MSEK (2 146) 1400 140 -7,4% organic 1200 120 Net sales: 1 678 MSEK (1 689) 1000 100 +6,6% organic 800 80 Operating profit: 152,9 MSEK (10,7) 600 60 400 40 Operating margin: 9,1% (0,6%) 200 20 Earnings per share: 0,53 SEK (-0,10) 0 0 Q1 2020 Q1
Slide 4: Our development in 2020, in line with market
Our development in 2020, in line with market Professional* lighting market development 2018-20, EUR bn ─ Fagerhult Group 2020 11,2 11,5 -11% • Net sales -14,3% 10,2 • Order intake -12,3% ─ Adjusted for applications and footprint our development in line with underlying market • Most positive in Indus
Slide 5: Energy consumption
Market potential following increased focus on sustainability and energy efficiency Significant energy savings with new technology Conventional lighting Energy consumption Increasing demand for energy efficient solutions, e.g. High quality lighting ─ EU Green Deal and will be part of the Renovation W
Slide 6: Still only ~30% installed base LED lighting in Europe
Still only ~30% installed base LED lighting in the European market Significant energy savings with new technology Installed base LED lighting in Europe* Conventional lighting Energy consumption ~30% 28% 23% 19% 15% New LED luminaires 12% 9% 6% 5% 2% 3% Connectivity solutions 2010 2011 2012 2013 2014
Slide 7: Besides energy savings, we provide our lighting solutions in a sustainable way
Besides energy savings, we provide our lighting solutions in a sustainable way Our Mission Statement: Examples from the Group in 2020 Together we innovate to deliver professional lighting solutions that are circular and climate-positive and contribute to better lives. 100% iGuzzini and Veko awarded
Slide 8: Full connectivity solutions only delivered to ~10% of projects
Full connectivity solutions only delivered to ~10% of the projects Significant energy savings with new technology Connectivity solutions add multiple benefits Conventional lighting Energy savings up to 70% and lower maintenance costs Energy consumption Increased well-being and safety for people New
Slide 9: We offer open connectivity solutions for indoor and outdoor environments
We offer open connectivity solutions for indoor and outdoor environments ─ Two systems within the Group: • Indoor: • Outdoor: ─ Same basic principles: • Energy savings with presence detection • Open systems for integrations and partnerships ─ Key events in 2020/21 • Opening competence center in Link
Slide 10: www.fagerhultgroup.com
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Slide 11: Financial summary
Financial summary MSEK Q1 2020 Q1 2021 Net sales 1 689 1 678 -0,7% - Organic growth 109 +6,6% - Acquisition / divestment -24 - FX-differences -97 Operating profit 11 153 Operating profit, % 0,6% 9,1% Net profit -16 96 Earnings per share, SEK -0,10 0,53 Operating cash flow 88 59 Q1 2021 presentation
Slide 12: Sales development
Sales development Net sales R12 Net sales R12, MSEK 8000 7000 6000 5000 4000 3000 2000 1000 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2015 2016 2017 2018 2019 2020 2021 Q1 2021 presentation 12
Slide 13: Margin development
Margin development Operating margin by quarter and R12 Operating margin,% Adjusted operating margin*,% Rolling 12 months 16,0% 14,0% 12,0% 10,0% 8,0% 6,0% 4,0% 2,0% 0,0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2015 2016 2017 2018 2019 2020 2021 Q1 2021 presentation
Slide 14: Business Area Collection
Business Area Collection 1200 1200 24% 24% Financials Q1 1000 20% 1000 20% ─ Order intake 790 (920) MSEK, organic -9,2% 800 16% ─ Net sales 752 (707) MSEK, organic 13,0% 800 16% 600 12% ─ Operating margin 7,8% (LY neg.) 600 12% 400 8% Business update 400 8% ─ Negative effects of Covid-19 continues b
Slide 15: Business Area Premium
Business Area Premium 800 16% Financials Q1 ─ Order intake 625 (734) MSEK, organic -11,2% 700 14% ─ Net sales 609 (669) MSEK, organic -5,2% 600 12% ─ Operating margin 11,4% (7,0%) 500 10% 400 8% Business update 300 6% ─ Still reduced activity level due to Covid-19 200 4% ─ Strong profitability recov
Slide 16: Business Area Professional
1200 24% Business Area Professional 1000 20% Financials Q1 400 20% ─ Order intake 263 (242) MSEK, organic 19,5% 800 16% ─ Net sales 234 (190) MSEK, organic 33,7% 300 15% 600 12% ─ Operating margin 8,4% (LY neg.) 400 200 8% 10% Business update ─ Recovery in all markets, strongest in UK 200 4% 100 5%
Slide 17: Business Area Infrastructure
Business Area Infrastructure 250 50% Financials Q1 ─ Order intake 176 (223) MSEK, organic -16,9% 200 40% ─ Net sales 166 (190) MSEK, organic -7,4% ─ Operating margin 9,7% (13,4%) 150 30% Business update 100 20% ─ We see increased competition in growing e-commerce segment ─ Other industrial applicati
Slide 18: Cash flow
Cash flow Operating cash flow by quarter and R12 Cash flow by quarter, MSEK Rolling 12 months 1200 1000 800 600 400 200 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2015 2016 2017 2018 2019 2020 2021 -200 Q1 2021 presentation 18
Slide 19: Net debt development
Net debt development Net debt and Net debt/EBITDA-ratio Net debt, MSEK Net debt/EBITDA* 6000 6,00 5500 5,50 5000 5,00 4500 4,50 4000 4,00 3500 3,50 3000 3,00 2500 2,50 2000 2,00 1500 1,50 1000 1,00 500 0,50 0 0,00 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2015 2016 2
Slide 20: Earnings per share
Earnings per share Earnings per share by quarter and R12 Earnings per share by quarter, SEK Rolling 12 months 5 4,5 4 3,5 3 2,5 2 1,5 1 0,5 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 -0,5 2015 2016 2017 2018 2019 2020 2021 Q1 2021 presentation 20
Slide 21: www.fagerhultgroup.com
www.fagerhultgroup.com
Slide 22: Conclusions and recap
Conclusions and recap ─ Organic sales growth in the quarter ─ Profitability improvements ─ Continued with strategic initiatives ─ Acquistion of Seneco ─ Continued collaboration Q1 2021 presentation 22
Slide 23: Four key focus areas within the Group
Four key focus areas within the Group Group core values Connectivity Sustainability Digital transformation Q1 2021 presentation 23
Slide 24: Fagerhult X Securitas
Fagerhult X Securitas Further developed partnership ─ Using built-in sensors in luminaires • Burglar alarm integration • Evacuation support Q1 2021 presentation 24
Slide 25: Q&A Session
Q&A Session www.fagerhultgroup.com