SEPTEMBER 2018 COMP COMPANY NY PRESENTATIO ION 1 | |
INTRODUCTION TODA DAY’S ’S P PRESENTERS A AND A D AGE GENDA DA FREDR DRIK IK L LEO, C , CEO Joined in 2017 as EVP Construction, 1. Introduction background from NCC Construction 2. Financials Q2 3. Business & Strategy Update 4. Q&A HELENA B BLOM, C , CFO & & E EVP S Services & & Scaffold lding ng Joined in 2018, background from ABB and SSAB 2 | |
INTRODUCTION In brief ”COMMON S SENSE F FROM D DALARNA” ByggPartner is a Swedish construction company with the competence to serve its customers throughout the entire construction process, creating value through personal commitment, sound expertise and common sense. 3 | |
STRATEGY GY A AND T D TARGE GETS SALES GR GROWTH 10-1 -15 % % Organic growth in focus markets MID- ID-TERM T TARGE GET - Leverage market leading position in Dalarna, grow in Stockholm, Uppsala and Mälardalen - Convert our orderbook into profitable growth - (Opportunistic acquisitions) EBIT IT M MARGIN GIN Strengthen partnering position 5 % % - Continue to build on strong position and reputation in partnering - Develop our partnering model, organization & core processes MID- ID-TERM T TARGE GET Leverage brand recognition OVER OV - Increased awareness and reputation among clients and suppliers 50 50 % - Strengthen recruitment proposition among prospective employees % TARGE GET P PAYOUT UT R RATIO IO 4 | |
INTRODUCTION CORE C CONSTRUC UCTIO ION C COMPANY SNAPSHOT O OF O OUR UR O ORDE DER B BOOK | S | SOCIA IAL, C , COMMERCIA IAL & & R RENTAL P PROPERTIE IES Skattsedeln , Stockholm Partneringprojekt Hefab Danvikshem, Stockholm Partneringprojekt Stiftelsen Danvikshem 5 | |
INTRODUCTION CORE C CONSTRUC UCTIO ION C COMPANY SNAPSHOT O OF O OUR UR O ORDE DER B BOOK | S | SOCIA IAL, C , COMMERCIA IAL & & R RENTAL P PROPERTIE IES Vallaskolan , Sala Partneringprojekt Kv. Nätet, Eskilstuna på uppdrag Lundbergs 6 | |
INTRODUCTION PEOPLE B BUS USIN INESS| C | CUS USTOMERS & & E EMPLOYEES 7 | |
INTRODUCTION BYGGP GGPARTNER 2 2018 VS VS 2 2016 Active acr Ac across oss thr hree attracti attractive b busine ness a areas… …and nd fo four attracti attractive geographi hies % of % of Sale les 2018 L LTM 2016 20 6 Cons nstruction n 86% 85% − Housing, trade/logistics, industrial facilities, offices, public buildings 48% 48% Dala Da larna na 52% (6 (64%) 4%) ü Market leader (36%) (36%) Cons nstruction s n services Uppsala la 14% 14 11% 11 11% − Smaller construction projects (28%) (28%) 10 10% Stockho kholm lm (1 (10%) 0%) 24 24% (25%) (25%) Scaffold lding ng 4% 3% 3% − JUF Byggnadsställningar AB 1 Mäla lardale len n 8 | | Source: Annual Report 2016 and Q2 Interim Report 2018
FIN INANCIA IAL UP UPDA DATE SALES GROWTH +29% (-7) Int Interim r m report Jan-J n-Jun 2 n 2018 CASH-FLOW 40,6 EBIT MARGIN 3,0% MSEK (53,4) (3,1) 9 | |
JAN-J -JUN UN 2 2018 IN IN S SUM UMMARY All time high orderbook 2 010 MSEK • (1 703) Strong order intake 1 198 MSEK • (849) Revenues increased by 29 % • Increased operating profit, EBIT • margin was equal Strong cash flow • Stable market prospects • 10 | |
IM IMPORTANT E EVENTS Q Q2 New partnering agreement with Falu kommun, Falun • Prolonged partnering agreement with Stockholmshem Stockholm • New partnering agreement with Sala kommun, Sala. • New partnering agreement HEFAB Fastighets AB, Stockholm • New board member: Elisabeth Norman. Elisabeth has a long experience from • real estate business. IM IMPORTANT E EVENTS Q Q3 Fredrik Leo is the new CEO from August 1 • New Partnering agreement with Sala kommun • Appointment Helena Blom EVP Services & Scaffholding • Björn Gruvsjö recruited and appointed Procurement and Calculation Manager • Partnering projects with Arboga Kommun moved into Fas 2 (236 MSEK & 78 • MSEK) 11 | |
STABLE O ORDE DER IN INTAKE A AND B D BACKLOG G DEVELOPMENT DE Growing Gr ng o order int ntake a and nd backlo klog… … SEK SEKm 2 100 1 801 , 2,0 ,010m m Order intake, LTM ¹ 1 900 1,384 1 615 1 500 1 454 1 452 1 616 2 010 1 700 Order book ¹ , 1,468 1 838 1,383 1,334 1 384 1 500 1,150 1 616 1 704 1 621 1 601 or order der bo book 1,018 1,225 3 , 1 300 1,094 1,086 1,404 1,404 1,465 1 100 877 873 1,292 1,286 1,115 1,213 735 900 1,088 1,130 1,006 700 Q4 2013 – Q2 2018 646 794 770 500 Order intake 16 % Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 CAGR Order book 2013 2014 2014 2014 2014 2015 2015 2015 2015 2016 2016 2016 2016 2017 2017 2017 2017 2018 2018 27 % … p provides s stable le r revenu nue g growth o h over t time me SEKm 1 600 1 495 Revenue, LTM ² , 1 500 1 394 1 317 , 1 400 1,176 1,223 1 265 1,247 1 212 1 200 1 238 12% C CAGR GR 1 300 , 1 200 1,045 1,062 1,090 1,069 1,101 1 100 , Q4 2 2013 – – Q Q2 2 2018 950 927 1 000 889 871 900 800 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2013 2014 2014 2014 2014 2015 2015 2015 2015 2016 2016 2016 2016 2017 2017 2017 2017 2018 2018 IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS 12 | | Source: (1) Unaudited management accounts; (2) ByggPartner’s audited annual reports and reviewed interim reports; (3) Differs from reported figure (SEK 1,529m) in audited annual report due to reporting principles
ORDE DER IN INTAKE & & O ORDE DER B BOOK Q2 | MSEK ACC | MSEK LTM | YEAR ON YEAR MSEK 700 2500 1400 2500 2000 2500 1801,5 1198,4 593,5 1800 1597 600 1200 523,2 1452,5 2000 2000 1600 2000 946,4 500 1000 1400 849,4 408,2 1500 1500 1200 1500 400 800 1000 300 600 1000 1000 800 1000 600 200 400 500 500 400 500 100 200 200 0 0 0 0 0 0 2016 2017 2018 2016 2017 2018 2016 2017 2018 LTM Order intake MSEK Order book MSEK Order intake MSEK Order book MSEK Order intake MSEK Order book MSEK REVENUE UES Q2 | MSEK ACC | MSEK LTM | YEAR | MSEK 1494,8 500 900 1600 788,7 1316,8 800 1400 1246,7 450 421,4 657,1 700 1200 610,8 400 600 1000 500 331,8 800 350 320,6 400 600 300 300 400 200 250 200 100 0 200 0 2016 2017 2018 LTM 2016 2017 2018 2016 2017 2018 13 | |
REVENUE UE & & E EBIT IT M MARGIN GIN – – T TRACK R RECORD D MSEK 9% 1 495 1 600 10% 1 317 7% 1,294 1 400 8% 7% 1 247 6% 1,168 5% 1,126 1 200 6% 5% 1,045 4% 3% 3% 5% 1 000 4% 871 949 695 4% 800 2% 3% 601 561 789 2% 600 0% 474 418 -3% 400 -2% -5% 200 -4% 0 -6% 2003/ 2004/ 2005/ 2006/ 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 LTM 2004 ² 2005 ² 2006 ² 2007 2018 IFRS (18mth) ³ Revenue EBIT margin 14 | Source: ByggPartner’s audited financial and annual reports and reviewed interim reports Note: (2) Financial year from July 1–June 30; (3) Financial year includes 18 months, from July 1, 2006–December 31, 2007
PROFIT ITABIL ILIT ITY & & O OPERATIN ING R G RESUL ULT Q2 | MSEK ACC | MSEK LTM | YEAR ON YEAR MSEK 12 3,5 30 4,5 60 4,5 26 50,5 11,4 4 4 23,4 11,5 3 25 50 45,1 3,5 3,5 40,8 11 2,5 19,1 20 3 40 3 10,5 2 2,5 2,5 10,1 15 30 2 2 10 1,5 9,6 10 1,5 20 1,5 9,5 1 1 1 5 10 9 0,5 0,5 0,5 8,5 0 0 0 0 0 2016 2017 2018 2016 2017 2018 2016 2017 2018 LTM EBIT MSEK Gross Margin (%) EBIT MSEK Gross Margin (%) EBIT MSEK Gross Margin (%) CASH F FLOW Q2 | MSEK ACC | MSEK LTM | YEAR | MSEK 90 60 78,1 52,1 80 60 53,4 50 65,3 70 50 40 33,3 40,6 60 40 30 50 30 20 40 20 22,9 30 10 10 20 0 2016 2017 2018 0 10 -10 2016 2017 2018 0 -10 -20 2016 2017 2018 LTM -20 -30 -25,3 -22,8 -30 15 | |
EFFIC ICIE IENT C CAPIT ITAL M MANAGE GEMENT NET WORKING CAPITAL END OF QUARTER, MSEK | Average -7 MSEK LOW 60 51 40 19 20 20 DIVIDEND POLICY DIVIDEND POLICY The goal is to deliver a dividend corresponding 0 2016 Q3 2016 Q4 2017 Q1 2017 Q2 2017 Q3 2017 Q4 2018 Q1 2018 Q2 to 50 percent of net profit given no need to -20 finance further investments in operations. -22 -24 -24 -27 -40 -60 -51 NWC EARNIN INGS GS P PER S SHARE Q2 | MSEK ACC | MSEK LTM | YEAR ON YEAR MSEK 0,73 1,67 0,74 1,8 4 3,53 1,48 1,6 0,72 3,5 2,83 1,4 1,22 0,7 3 2,57 1,2 0,68 2,5 1 0,65 0,66 2 0,8 0,63 0,64 1,5 0,6 0,62 1 0,4 0,6 0,5 0,2 0,58 0 0 2016 2017 2018 2016 2017 2018 2016 2017 2018 LTM 16 | | EPS SEK EPS SEK EPS SEK IFRS from Q3 2016
LOW C CAPIT ITAL R REQUIR UIREMENT IN INCREASIN ING G RETUR URNS Strong ng re return turn o on n capi capital tal… … ROCE 1 1 ROE RO ROE RO ROE RO ROCE 1 ROCE 1 1 ROCE 1 1 RO RO ROE RO RO RO 34% 34% 24% 24 30% 30% 36% 36% 52% 52% 48% 48% 36% 36% 29% 29% SEKm SEKm 140 142 160 129 132 140 127 125 140 115 120 100 120 100 100 63 80 80 51 52 45 60 41 60 43 34 31 40 40 20 20 0 0 2015 2016 2017 2018 LTM 2015 2016 2017 2018 LTM Capital Employed ² (avg) EBIT Equity (avg) Net Income 17 | | Note: (1) (1) ROCE defined as EBIT/average of period’s opening and closing capital employed; (2) (2) Defined as equity plus interest bearing liabilities
Recommend
More recommend
