Alimak : Interim report for January-September 2021 – Presentation

Alimak Group

Q3 2021, 21 October 2021

Ole Kristian Jødahl, CEO

Thomas Hendel, CFO

Agenda

• Q3 2021 results and developments
• Q&A

2

Quarterly highlights

Q3

• New Heights programme on track
• Cento acquisition closed
• New product development
• • The new industrial elevator for the emerging markets has contributed positively in the quarter
  • Development of new scaffolding transportation system finalized
• BMU (Building Maintenance Units) management change

3

Group quarterly summary

Q3

• Order intake decreased by 2% (down 3% organically)
• • Strong organic growth in Construction and Industrial
  • Strong service order intake growth, up 26%
  • Wind reported significant drop as expected
• Revenue decreased by 1% (down 5% organically)

Order intake & Revenue by Quarters

MSEK

1 400
					1 073
1 200
888		845		915	872
1 000
800
600
400
200
	916		933	846	951	902
0
	Q3- 20	Q4- 20	Q1- 21	Q2- 21	Q3- 21
					Revenue		Order intake

Order intake & Revenue by R12M

MSEK
5 000
3 990	3 761	3 768	3 720	3 704
4 000
3 000
2 000
1 000
3 950		3 740	3 670	3 646	3 633
0
	Q3- 20	Q4- 20	Q1- 21	Q2- 21		Q3- 21
					Revenue		Order intake

• • Organic increase in Construction and Industrial
  • Wind down due to tower internals and lower volumes in China
• EBITA increased to MSEK 119 (67), margin improved to 13.2% (7.3)
• • Improved profitability driven by higher gross margin and lower SG&A costs
  • MSEK 35 booked in Q3 2020 for New Heights Programme

EBITA & EBITA margin by Quarters

MSEK	%
200		20

						11,1	13,2	13,2
150							15
7.3	9,2
100						10
50										5
	67		86	95	126	119
0				0
	Q3- 20	Q4- 20	Q1- 21	Q2- 21	Q3- 21
					EBITA		EBITA. %

EBITA & EBITA margin by R12M

MSEK									%
500							10,3	11,7		14
400		9,3		8,5	9,1			12
							10
300
									8
200										6
100										4
									2
	367		319	335	374	425
0										0
	Q3- 20	Q4- 20	Q1- 21	Q2- 21	Q3- 21
					EBITA		EBITA. %

4

BMU

• Order intake decreased by 3% (down 7% organically)
• • Significantly higher service order intake
  • Weak equipment sales
• Revenue increased by 12% (down 1% organically)
• • Revenue contribution from Cento and Verta acquisitions
  • Total revenues flat in the quarter organically
• EBITA at MSEK 5 (-21), margin 1.8% (-9.1)
• • Improvement driven by higher volumes, better utilisation and reduced SG&A expenses
  • Activities to improve sales and profitability ongoing

Order intake & Revenue by Quarters

MSEK
350					262	289
300
225			233	219
250
200
150
100
50		227		247	228	252	254
0
	Q3- 20	Q4- 20	Q1- 21	Q2- 21	Q3- 21
					Revenue		Order intake

EBITA & EBITA margin by Quarters

MSEK						%
15												5
					2,5	1,8
10
			-0.8						2
5					6
			-2,4	5
0										-1
-5		-21		-2	-6							-4
-10
-15
	-9,1					-7
-20
-25												-10
		Q3- 20	Q4- 20	Q1- 21	Q2- 21		Q3- 21
				EBITA			EBITA %

Q3

Order intake & Revenue by R12M

MSEK
1 500
1 041	975	1 013	1 009
1 200	1 003
900
600
300
1 016			962	939	953	981
0
	Q3- 20	Q4- 20	Q1- 21	Q2- 21	Q3- 21
						Revenue		Order intake

EBITA & EBITA margin by R12M

MSEK	%
20		3

0									3			1
	-18		-34	-32	-22	0,3
		-1,7				-2,3		-1
-20					-3,5	-3,4						-3
-40												-5
	Q3- 20	Q4- 20	Q1- 21	Q2- 21	Q3- 21
					EBITA		EBITA %

5