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Eltel AB Q2 2019 Presentation
24 July 2019
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Today’s presenters
Casimir Lindholm
President and CEO
Petter Traaholt
CFO
Eltel AB Q2 2019 Presentation 24 July 2019 Todays presenters - - PowerPoint PPT Presentation
Eltel AB Q2 2019 Presentation 24 July 2019 Todays presenters - - PowerPoint PPT Presentation
Eltel AB Q2 2019 Presentation 24 July 2019 Todays presenters Casimir Lindholm Petter Traaholt President and CEO CFO 2 Q2 2019 highlights Close to reaching a positive result after H1 Improved Operative EBITA margin and cash
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Q2 2019 highlights
- Close to reaching a positive result after H1
- Improved Operative EBITA margin and cash flow
- Letter of intent to divest Aviation & Security
- Strategic evaluation of our Polish and German
- perations continues
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Total Group: Q2
- Net sales -6,6% to EUR 276.0 million (295.5)
- Organic growth in Power and Communication* -6.4%
- Operative EBITA EUR 2.5 million (2.0)
- Operative EBITA margin 0.9% (0.7%)
- Cash flow from operating activities** EUR 6.9 million (-14.3)
Total Group
*Adjusted for divested operations and currency effects **Before IFRS 16 impact
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Group: Operative EBITA development
- 5%
- 4%
- 3%
- 2%
- 1%
0% 1%
- 25
- 20
- 15
- 10
- 5
5 Q2-17 Q3-17 Q4-17 Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 Q2-19 Operative EBITA, quarterly Operative EBITA margin, rolling 12 months
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Net sales segments: Q2
- Net sales -18.4% to EUR 94.7 million
- Lower volumes in Smart Grids
- Business reduction and project phasing in High
Voltage
- Decreased volumes in Finland
- Organic net sales* -18.1%
Power
- Net sales 0.0% to EUR 177.8 million
- Increased volumes in Norway and Denmark
- Lower volumes in Sweden and reduced
customer investment levels
- Organic growth* 1.2%
Communication
- Net sales 52.2% to EUR 3.9 million
- Relates mostly to Power Transmission
International
- In line with the strategy of divestments and
discontinuations of operations
Other
*Adjusted for currency effects
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Operative EBITA segments: Q2
- Operative EBITA EUR 2.4 million (2.5)
- Operative EBITA margin 2.5% (2.1)
- Lower net sales in Smart Grids
- Weaker performance in High Voltage Germany and
Poland
- Improved performance in the Nordics
Power
- Operative EBITA EUR 2.1 million (7.2)
- Operative EBITA margin 1.2% (4.1)
- Lower volumes and project write downs in Sweden
- Slightly weaker performance in Finland
- Better performance in all other markets, mainly
Norway
Communication
- Operative EBITA EUR 0.2 million (-3.1)
- Operative EBITA margin 4.7% (-122.6)
- Result in line with the planned ramp down
Other
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Focus in 2019
- No. 1 Nordic player
- High customer satisfaction
- Engaged employees
- Lower risk and fewer capital
intensive projects
- Cash generation
- Lower net debt
Operational focus
- Tender
- Right people
- Implementation & execution
- Production planning
- Training
- Evaluation of strategic
alternatives for the Polish and German operations, including a potential divestment
- Signed Letter of intent to
divest Aviation & Security
Strategic focus
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Our long-term plan
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- Continued focus on
- perational excellence
- Pursue structural M&As in
the Nordics when financial situation improves
- Innovation and new market
development
- Prioritise core operational
improvements (operational excellence)
- Strengthen the financial
situation of the company
- Reorganisation to strengthen
focus on local markets
- Increased focus on
- perational KPIs to foster
continuous improvements and sharing of best practices
- Initiatives to control project
business risk
2017-18 “House in order” 2019-2021 “Operational excellence” >2022 “Investing in sustainable profitable growth”
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