Ncab Group Ab · OMXSTO:NCAB
Ncab Group Ab — Q2 2021 Earnings Presentation
22 slides from Ncab Group Ab's earnings presentation, Jul 22, 2021
Slide 1: Advancing our positions
Advancing our positions Q2 2021 July 22 NCAB GROUP © Q2 2021 presentation 1
Slide 2: Today's presenters
Today’s presenters PETER KRUK CEO ANDERS FORSÉN CFO NCAB GROUP © Q2 2021 presentation 2
Slide 3: Summary of Q2 2021 for NCAB
Summary of Q2 2021 for NCAB Another strong quarter. Continued high order intake up 118% to 1.058 or 152% in USD. For comparable units in USD increase 129%. Strengthened market positions due to our business model being present in Asia. Our acquired companies all doing very well. Net sales grew to SEK
Slide 4: Mission and vision
16 45 500 27 companies markets specialists factories MISSION VISION PCBs for demanding customers, The Number 1 PCB Producer on time with zero defects, produced wherever we are. sustainably at the lowest total cost. NCAB GROUP © Q2 2021 presentation 4
Slide 5: PCBs for making PCB-As
THIS IS WHAT WE DO PCBs for making PCB-As NCAB GROUP © Q2 2021 presentation 5
Slide 6: Our journey of profitable growth
Our journey of profitable growth 1993 2004 2011 M-Wave UAE Flatfield PreventPCB PD circuit Multiprint, Altus BBG sas Sweden Macedonia Norway China Germany UK USA Malaysia Finland Denmark Russia Spain Poland France Italy Benelux CAGR: 16.1 % 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Slide 7: Our pipeline of possible acquisitions
Our pipeline of possible acquisitions Focus on Europe Approx. 170 identified companies and US markets HMLV segment Right customer portfolio Example of criteria No own production Profitable company Shortlist 45 target companies sas – electronics, Germany Recent PreventPCB, Italy BBG, US Flatfield, Ne
Slide 8: The second quarter in numbers
The second quarter in numbers Strong increases all over Q2 762 91 103.8 12.2% 2021 Net sales, MSEK Net sales, MUSD EBITA, MSEK EBITA margin Excl PPP Change vs +31% +52% +105% +3.5 Q2 2020 NCAB GROUP © Q2 2021 presentation 8
Slide 9: Year to date in numbers
Year to date in numbers Strong increases all over YTD 1,379 164 162,1 11.0% 2021 Net sales, MSEK Net sales, MUSD EBITA, MSEK EBITA margin Excl PPP Change vs +30% +49% +83% +2,0 YTD 2020 NCAB GROUP © Q2 2021 presentation 9
Slide 10: Strong growth and increased margins all over
Strong growth and increased margins all over Sales growth in USD EBITA margin NORDIC +23% 16.1 % +80% incl acquisitions EUROPE +45% excl 10.6 % +28% incl acquisitions NORTH AMERICA + 9% excl 11.0 % excl PPP EAST +52% 15.6% NCAB GROUP © Q2 2021 presentation 10
Slide 11: Good market growth expected in coming years
Good market growth expected in coming years Segment % World - 2018 Average: 4,5% 30 % Consumer/Stand alone apps Embedded/Professional apps Key Drivers under the average above to average Industry 4.0 25 % Infotainment, Autononomous, 20 % Industrial & Robots Connected vehicles Consumer PCs 5G, Lora, S
Slide 12: Increased top-line growth partly due to acquisitions
Increased top-line growth partly due to acquisitions 2 431 2 115 1 781 1 617 1 400 1 226 31,3% 31,7% 30,3% 30,2% 30,3% 30,5% 2016 2017 2018 2019 2020 2021 q2 LTM NCAB GROUP © Q2 2021 presentation 12
Slide 13: Strong organic growth boosted with acquisitions
Strong organic growth boosted with acquisitions MSEK Growth in net sales in USD 52%, in 900 SEK 31%, for comparable units in 762.2 800 USD growth 33% 700 580.6 Order intake increased in USD 152%, 600 in SEK by 118% to 1,058 MSEK 500 For comparable units orders 400 increased 129% in USD, 98% in SEK 3
Slide 14: Strong result and EBITA margin in the quarter
Strong result and EBITA margin in the quarter MSEK 103.8 14,0% 100 EBITA increased to 103.8 MSEK 12,0% 13.6% (50.6) EBITA margin of 13.6% (8.7) 80 50.6 10,0% EBITA excluding transaction costs for acquisitions and PPP loan 94.1 60 8.7% 8,0% MSEK, EBITA margin 12.3% (10.3) 6,0% 40 Earnings per share w
Slide 15: Nordic
SEGMENTS Nordic MSEK 16% EBITA margin 200 20% Order intake increased by 107% in 180 18% USD and 79% in SEK. Driven by 16.1% strong development in Norway. 160 14.9% 16% 140 14% Net sales in USD grew by 23% and in 144 120 134 12% SEK by 7% to 144 MSEK (134) 100 10% EBITA increased to 23.1 MSEK (20.0)
Slide 16: Europe
SEGMENTS 80% MSEK Europe Strong recovery in all markets, especially Net sales 361 20% 350 Germany, Netherlands and UK growth USD 18% 300 Order intake increased by 219% in USD 16% and with 176% to 549 MSEK, comparable 231 14% 250 units 170% in USD 10.6% 12% Net sales increased by 80% in USD and 200 1
Slide 17: North America
SEGMENTS North America 28% Net sales MSEK growth USD Order intake increased by 119% in USD and by 70% in SEK, excluding 140 138 20% BBG the increase was 73% in USD 125 18% 120 Net sales increased by 28% in USD 18.9% 16% and with 11% to 138 MSEK (125) 100 14% 12% EBITA increased to 26.2 MSEK (10.1),
Slide 18: East
SEGMENTS East MSEK 52% Net sales growth USD Order intake increased 127% in 140 20% USD, and with 96% to 138 MSEK 18% 120 120 16% Net sales increased by 52% in 16.8% 14% USD and with 32% to 120 MSEK 100 15.6% 12% (91) 80 91 10% EBITA increased to 18.7 MSEK 60 8% (15.2), corresponding to a margin 6% o
Slide 19: KPIs
KPIs June 2021 June 2020 ROE, % 26.1 27.4 Net debt/EBITDA 0.7 0.0 18.9% 18.9% Equity/Asset ratio, % 42.3 43.3 Net working capital, MSEK 258 178 Net working capital/Net sales LTM 7.5% 7.8% Available liquidity, MSEK 358 578 NCAB GROUP © Q2 2021 presentation 19
Slide 20: Delivering on our strategic plan
Delivering on our strategic plan Consolidate market Expand geographically Deeper collaboration with existing customers Increase market share in Europe, USA and East NCAB GROUP © Q2 2021 presentation 20
Slide 21: Q&A
Q&A 21
Slide 22: Next quarterly report
Next quarterly report: Q3 report, 12 November, 2021 Investor contact: Gunilla Öhman [email protected] NCAB GROUP © Q2 2021 presentation 22