Semcon : Presentation Q2 2022 (pdf)

INTERIM REPORT Q2 2022.

Published on 19 July

CEO Markus Granlund and CFO Björn Strömberg

Continued high demand and profitability.

Group financial development

	Apr-Jun	Jan-Jun	FY
	2022	2021	2022	2021	2021
Net sales, mSEK	500	445	995	864	1,711
Total sales growth, %	12	11	15	-3	5.2
Organic growth, %	3	9	4	-3	1.9
Adj. operating profit*, mSEK	43	40	108	86	175
Adj. operating margin*, %	8.5	8.9	10.8	9.9	10.2
EPS after dilution, SEK	1.58	1.69	4.23	3.65	7.57
No. of employees at the end of	2,112	2,016	2,112	2,016	2,045
the period

• Digitalisation and the green transition drives high demand for our services
• Good growth of 15% in the January- June period. RTM sales growth of 15%
• • Organic growth driven by e.g., growth in the public sector and telecom
• RTM adj. operating margin remained on a high level of 10.7%, above the financial target.

* excl. SEK -7m of non-recurring costs in Q2 and SEK -10m in YTD June 2022.

1 |

A solid net cash position.

• Cash conversion impacted by higher tax payments, but also the payment of incentive-related remuneration in connection with 2021
• Dividend paid of SEK 70m (- in Q2 2021)
• Net cash of SEK 168
• Holding of own shares: 486'

Significant scope

for further growth.

Group financial position	Jan-Jun	FY
	2022	2021	2021
Cash flow from current activities, mSEK	59	95	221
Free cash flow, mSEK 1)	33	75	181
Cash conversion, % 2)	45	116	136
Working capital / net sales, % 3)	5.0	5.6	3.1
Net cash, mSEK	168	198	214
Equity ratio, %	61	59	59

1. Cash flow from current activities less investments and repayment of lease liabilities (rental payments)
2. RTM free cash flow divided by RTM profit after tax
3. Working capital excl. cash incl. deferred tax liabilities

2 |

Financial objectives.

Total annual revenue growth of at least 10%

Operating margin (EBITA) of at least 10%

Dividend policy approx. 50% of profit after tax over time

The net debt / EBITDA ratio should not exceed approx. 1.5 times

3 |

Net sales distribution.

Group net sales per industry

Jan-Jun 2022

Good growth in the telecom and

public sectors, the industry

diversification continued.

4 |