Fagerhult Group Ab · OMXSTO:FAG
Fagerhult Group Ab — Q4 2023 Earnings Presentation
25 slides from Fagerhult Group Ab's earnings presentation, Feb 16, 2024
Slide 1: We light up your world – Q4 2023 presentation
We light up your world Q4 2023 presentation February 16, 2024 www.fagerhultgroup.com
Slide 2: A strong Q4 to close a record year
A strong Q4 to close a record year A strong fourth quarter ─ Record level of order intake, +5,5% organic growth, and strong net sales. ─ Gross margin improved, healthy operating profits and a very robust cash flow. Full year delivered many all-time records ─ Order intake, net sales, gross profit mar
Slide 3: Q4 2023 in figures
Q4 2023 in figures 3 000 300 2 500 250 Order intake: 2 123 MSEK (1 964) +5,5% organic 2 000 200 Net sales: 2 111 MSEK (2 271) 1 500 150 -7,7% organic 1 000 100 Operating profit: 216 MSEK (255) 500 50 Operating margin: 10,2% (11,2%) 0 0 Earnings per share: 0,61 SEK (0,96) Q4 2022 Q4 2023 Net Sales, M
Slide 4: YTD 2023 in figures
YTD 2023 in figures 10 000 1 000 8 000 800 Order intake: 8 435 MSEK (8 243) -1,9% organic 6 000 600 Net sales: 8 560 MSEK (8 270) 4 000 400 +0,2% organic 2 000 200 Operating profit: 901 MSEK (833) 0 0 Operating margin: 10,5% (10,1%) YTD 2022 YTD 2023 Net Sales, MSEK Operating profit Earnings per sha
Slide 5: A world enhanced by light
Our operating model Business Collection Premium Professional Infrastructure areas A world enhanced Smart Lighting by light Strategic People & Innovation Sustainability focus areas Culture Q4 2023 presentation 5
Slide 6: Buildings accounting for up to 30% of global energy consumption
70% 30% 15% 90% from LED technology Buildings accounting 15% of a building's The latest lighting for up to 30% of global energy consumption energy consumption related to lighting technology brings up to 90% energy savings 70% from Smart Lighting Q4 2023 presentation Source: International Energy Agen
Slide 7: Forces driving adoption of smart lighting
Forces driving adoption of smart lighting Sustainability Legislation New technology Q4 2023 presentation 7
Slide 8: Customers adopting smart lighting
Customers adopting smart lighting “A major eye opener was when we realized that our lighting installation “I know for certain that we will with Organic Response could provide us continue to have lights throughout our with detailed presence data from our buildings. In the future I’m expecting buildin
Slide 9: Citygrid Zhaga controller
In no va tio Citygrid Zhaga controller n ─ Citygrid released a new generation Zhaga based smart controller. ─ Important step forward to offer a complete smart lighting solution for outdoor applications. Q4 2023 presentation 9
Slide 10: Light Shed Linen
In no va tio Light Shed Linen n ─ Light Shed Linen is the first professional lighting product made from the bio- material linen. ─ As this is from a renewable source it contributes greatly to the reduction of carbon footprint from our materials. Q4 2023 presentation 10
Slide 11: Infrastructure Collection Professional
Liverpool, UK Infrastructure Collection Professional Everton Stadium
Slide 12: Financial summary Q4
Financial summary Q4 MSEK Q4 2023 Q4 2022 YTD 2023 YTD 2022 Net sales 2 111 2 271 -7,1% 8 560 8 270 3,5% - Organic growth -175 -7,7% 16 0,2% - FX-differences 46 387 - Business closures -31 -113 Operating profit 216 255 -15,2% 901 833 8,1% Operating profit, % 10,2% 11,2% -1,0 p.p. 10,5% 10,1% +0,4 p.
Slide 13: Financial summary YTD
Financial summary YTD 23 Q4 2022 MSEK YTD Q4 2023 YTD Q4 2022 YTD 2023 YTD 2022 111 Net sales 2 271 -7,1% 8 2560 111 82270 271 -7,1% 3,5% 8 560 8 270 3,5% 75 - Organic growth -7,7% -175 16 -7,7% 0,2% 16 0,2% 46 - FX-differences 387 46 387 31 - Business closures -113 -31 -113 16 Operating 255profit -
Slide 14: Sales development
Sales development Net sales R12 Net sales R12, MSEK 9000 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 2018 2019 2020 2021 2022 2023 Q4 2023 presentation 14
Slide 15: Margin development
Margin development Operating margin by quarter and R12 Operating margin,% Adjusted operating margin1,% 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 2018 2019 2020 2021 2022 2023 Q4 2023 presentation 1. Excl
Slide 16: Collection
Collection 1200 12% Financials Q4 ─ Order intake 989 (865) MSEK, organic 10,6% 1000 10% ─ Net sales 1035 (1030) MSEK, organic +0,5% 800 8% ─ Operating margin 10,1% (8,9%) Business update 600 6% ─ Higher operating margin following high sales levels and good gross profit margin development. 400 4% ─ i
Slide 17: Premium
Premium 900 18% Financials Q4 800 16% ─ Order intake 707 (680) MSEK, organic +1,9% 700 14% ─ Net sales 691 (781) MSEK, organic -13,2% 600 12% ─ Operating margin 12,9% (15,8%) 500 10% 400 8% Business update ─ Difficult comparison period, last year sales where 300 6% positively affected by the supply
Slide 18: Professional
Professional 400 16% Financials Q4 350 14% ─ Order intake 198 (218) MSEK, organic -6,0% 300 12% ─ Net sales 241 (258) MSEK, organic -3,2% 250 10% ─ Operating margin 8,7% (7,3%) 200 8% Business update 150 6% ─ Full year organic order intake growth of +10.5%. 100 4% ─ Continued strong recovery perform
Slide 19: Infrastructure
Infrastructure 300 18% Financials Q4 ─ Order intake 229 (201) MSEK, organic +8,5% 250 15% ─ Net sales 212 (280) MSEK, organic -27,2% 200 12% ─ Operating margin 11,4% (13,2%) 150 9% Business update ─ Full year net sales for the first time above 1 bn SEK and a 100 6% +1.9 p.p. operating margin improve
Slide 20: Cash flow
Cash flow Operating cash flow by quarter and R12 Cash flow by quarter, MSEK Rolling 12 months 1400 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 -200 2018 2019 2020 2021 2022 2023 Q4 2023 presentation 20
Slide 21: Net debt development
Net debt development Net debt and Net debt/EBITDA-ratio Net debt, MSEK Net debt/EBITDA* 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 2020 2021 2022 2023 Q4 2023 presentation *EBITDA adjusted
Slide 22: 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 -0,5 2018 2019 2020 2021 2022 2023 Q4 2023 presentation * Not including the positive
Slide 23: www.fagerhultgroup.com
Fagerhult Group Te 6 é af — — ws www.fagerhultgroup.com
Slide 24: Conclusions and recap
Conclusions and recap ─ The fourth quarter performance included a record level of order intake at +5,5% organic, trending positive since Q2. ─ The full year delivered many all-time high records, including order intake, net sales, gross profit margin and operating profit. ─ Strong cash flow at record
Slide 25: www.fagerhultgroup.com
www.fagerhultgroup.com