Instalco Q3

presentation

27 October 2023

1

This is Instalco

A leading Nordic group within heating and plumbing, electrical, ventilation, industry and technical consulting

Project planning, installation, service and maintenance of systems installed at properties and facilities

Highly decentralised structure

>130 subsidiaries - specialised local companies

>6,000 employees

Driving the green transformation - strong underlying market drivers

2

Key financials, LTM

Net sales, million SEK

Order backlog, million SEK

13,996

9,201

EBITA, million SEK

EBITA margin, %

1,067

7.6

Cash flow from operations, million SEK

Acquired annual sales, million SEK

943

1,279

3

Q3 Highlights

  • Sales growth 18.7%
    • Organic growth 3.0%
  • Improved EBITA margin
  • Significantly improved cash flow at SEK 119 (16) million
  • Continued solid order backlog
  • One acquisition

Key financials Q3 2023

Net sales

SEK 3,310million

EBITA

SEK 246million

EBITA margin

7.4%

4

Net sales development (SEK million)

•

Net sales growth 18.7% to

3.0%

1%

SEK 3,310 (2,788) million

15.7%

Organic growth of 3.0%,

-1%

•

mostly driven by Rest of

Nordic

•

Acquired growth of 15.7%, an

effect of the successful M&A

agenda

5

EBITA development (SEK million and margin %)

  • EBITA increased by 22.7% to SEK 246 (201) million
  • EBITA margin 7.4% (7.2)
  • Good development, typical seasonality effects

350

10%

300

9%

7.2%

8%

7.4%

250

7%

200

6%

5%

150

4%

100

3%

2%

50

1%

0

0%

Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023

EBITA

EBITA margin

6

Order backlog development (SEK million)

• YoY growth of 12.8%, to SEK

10,000

9,201 (8,158) million

9,000

• All time high - solid order

8,000

backlog to build on

7,000

6,000

5,000

4,000

3,000

2,000

1,000

0

Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023

7

Segment Sweden Q3 development

  • Stable development with good profitability
  • Continued high order backlog
  • Net sales growth 5.2% to SEK 2,213 (2,103) million
    • Organic growth essentially flat
    • Acquired growth of 7.0%

Key financials Q3 2023

Net sales

SEK 2,213million

EBITA

EBITA margin

SEK 177million

8.0%

Order backlog

SEK 6,682million

8

Segment Rest of Nordic Q3 development

  • Net sales growth 60.1% to SEK 1,098 (686) million
    • Organic growth 14.9%
    • Acquired growth of 42.1%
  • Significantly improved profitability
  • EBITA grew over 130% to SEK 68 (29) million, and EBITA margin improved to 6.2 (4.3)%

Key financials Q3 2023

Net sales

SEK 1,098million

EBITA

EBITA margin

SEK 68million

6.2%

Order backlog

SEK 2,519million

9

Acquisitions 2023

Company

Discipline

Segment

Est. Sales (SEKm)

1

Q1

Telepatrol Oy

Electrical

Rest of Nordic

48

2

Q1

Rörprodukter Montage Sverige AB

Heating & Plumbing

Sweden

24

3

Q1

Lysteknikk Entreprenør AS

Electrical

Rest of Nordic

325

4

Q1

Processus AB

Industry

Sweden

193

5

Q1

SMT Norrbotten AB

Industry

Sweden

40

6

Q1

Enter Ställningar AB

Industry

Sweden

340

7

Q2

Halvard Thorsen AS

Heating & Plumbing

Rest of Nordic

42

8

Q2

Elektro Västerbotten AB

Electrical

Sweden

50

9

Q3

URD Klima Sandnes AS

Heating & Plumbing

Rest of Nordic

85

Total

1,058

10

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Disclaimer

Instalco AB published this content on 27 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 October 2023 08:33:18 UTC.