Fagerhult Group Ab · OMXSTO:FAG
Fagerhult Group Ab — Q3 2023 Earnings Presentation
24 slides from Fagerhult Group Ab's earnings presentation, Oct 27, 2023
Slide 1: We light up your world – Q3 2023 presentation
We light up your world Q3 2023 presentation October 27, 2023 www.fagerhultgroup.com
Slide 2: Third quarter
Third quarter Yet another strong quarter and significantly ahead of last year Order intake and net sales ─ Positive order intake growth ─ Net sales flat compared to last year Operating margin ─ Operating margin increased to 11,5% (10,5%) ─ Positive gross margin development, pricing management and pr
Slide 3: Q3 2023 in figures
Q3 2023 in figures 2 500 250 2 000 200 Order intake: 2 026 MSEK (1 891) +0,8% organic 1 500 150 Net sales: 2 079 MSEK (2 081) -4,0% organic 1 000 100 Operating profit: 240 MSEK (219) 500 50 Operating margin: 11,5% (10,5%) Earnings per share: 0,90 SEK (0,89) 0 0 Q3 2022 Q3 2023 Net Sales, MSEK Operat
Slide 4: YTD 2023 in figures
YTD 2023 in figures 7 000 700 6 000 600 Order intake: 6 312 MSEK (6 279) 5 000 500 -4,3% organic 4 000 400 Net sales: 6 450 MSEK (5 999) +3,2% organic 3 000 300 Operating profit: 685 MSEK (579) 2 000 200 1 000 100 Operating margin: 10,6% (9,6%) 0 0 Earnings per share: 2,48 SEK (2,31) YTD 2022 YTD 20
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 Q3 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 Q3 2023 presentation Source: International Energy Agen
Slide 7: Validated SBTi targets
Validated SBTi targets ─ We have had our Science Based Targets validated • Near-term targets to be delivered until 2030 • Long-term targets, net-zero until 2045 #NetZeroStandard Q3 2023 presentation 7
Slide 8: Innovation: AllFive
In no va tio AllFive n ─ For over two decades AllFive has set the standard for universal luminaires ─ Now the next generation has been launched with significantly better performance ─ Organic Response, smart lighting functionality, bringing up to 90% energy savings Q3 2023 presentation 8
Slide 9: Innovation: Spacepad
In no va tio Spacepad n ─ Spacepad is a new lightweight, minimalist yet highly comfortable and efficient lighting solution ─ It is extremely flexible because it can rotate 360° in the vertical plane and slide in the track, allowing easy adaptation to new layouts or visual needs Q3 2023 presentation
Slide 10: Collection and Premium project images
Collection Gothenburg, Sweden Premium World of Volvo
Slide 11: Financial summary Q3
Financial summary Q3 MSEK Q3 2023 Q3 2022 YTD 2023 YTD 2022 Net sales 2 079 2 081 -0,1% 6 450 5 999 7,5% - Organic growth -83 -4,0% 191 3,2% - FX-differences 128 342 - Business closures -47 -82 Operating profit 240 219 9,5% 685 579 18,4% Operating profit, % 11,5% 10,5% +1,0 p.p. 10,6% 9,6% +1,0 p.p.
Slide 12: Financial summary YTD
Financial summary YTD 23 Q3 2022 MSEK YTD Q3 2023 2023 YTD Q3 2022 2022 YTD 2023 YTD 2022 79 Net sales 2 081 -0,1% 62450 079 52999 081 -0,1% 7,5% 6 450 5 999 7,5% 83 - Organic growth -4,0% -83 191 -4,0% 3,2% 191 3,2% 28 - FX-differences 342 128 342 47 - Business closures -82 -47 -82 40 Operating 219
Slide 13: 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 2018 2019 2020 2021 2022 2023 Q3 2023 presentation 13
Slide 14: 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 2018 2019 2020 2021 2022 2023 Q3 2023 presentation 1. Exclude
Slide 15: Collection
Collection 1200 12% Financials Q3 1000 10% ─ Order intake 950 (840) MSEK, organic 5,8% ─ Net sales 875 (946) MSEK, organic -13,9% 800 8% ─ Operating margin 8,5% (8,6%) 600 6% Business update ─ WE-EF: Western Sydney Airport 400 4% ─ iGuzzini: Arts and Performance Centre, University of Dallas 200 2% ─
Slide 16: Premium
Premium 900 18% Financials Q3 800 16% ─ Order intake 608 (609) MSEK, organic -5,7% 700 14% ─ Net sales 729 (719) MSEK, organic -3,9% 600 12% ─ Operating margin 15,4% (16,0%) 500 10% Business update 400 8% ─ Fagerhult: the new art building at Gothenburg University. 300 6% ─ Strong demand in renovatio
Slide 17: Professional
Professional 400 16% Financials Q3 350 14% ─ Order intake 261 (172) MSEK, organic 49,4% 300 12% ─ Net sales 297 (267) MSEK, organic 9,9% 250 10% ─ Operating margin 12,2% (2,2%) 200 8% Business update 150 6% ─ Eagle Lighting: Victorian State energy refurbishment 100 4% ─ Continued strong performance
Slide 18: Infrastructure
Infrastructure 400 24% Financials Q3 350 21% ─ Order intake 207 (270) MSEK, organic -31,1% 300 18% ─ Net sales 255 (236) MSEK, organic -2,6% 250 15% ─ Operating margin 14,8% (14,0%) 200 12% Business update 150 9% ─ Designplan: Deutsche Bahn retrofit project 100 6% ─ Order intake decline mainly due t
Slide 19: 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 -200 2018 2019 2020 2021 2022 2023 Q3 2023 presentation 19
Slide 20: 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 2020 2021 2022 2023 Q3 2023 presentation *EBITDA adjusted for
Slide 21: 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 -0,5 2018 2019 2020 2021 2022 2023 Q3 2023 presentation * Not including the positive imp
Slide 22: Professional and Infrastructure project images
Professional Somerset, UK Infrastructure Hinkley Point C
Slide 23: Conclusions and recap
Conclusions and recap ─ Yet another strong quarter and significantly ahead of last year – order intake, margins and cash developed positive. ─ A quarter with high activity, good variety of projects across most markets. ─ Our Science Based Targets are validated, both our near- term and long-term targ
Slide 24: www.fagerhultgroup.com
www.fagerhultgroup.com