ÅF GROUP Q Jonas Wiström, CEO Stefan Johansson, CFO

Transcription

1 ÅF GROUP Q Jonas Wiström, CEO Stefan Johansson, CFO 20XX-XX-XX 1

2 ÅF has assignments around the world 100 ÅF is currently active in 107 countries 11 BN SEK Net Sales Approx. 11 BN SEK 9,000 Employees Approx. 9,000 ÅF offices ÅF assignments 2

3 Business overview Market Segments Petrocemical Financial Other Services Mining&Steel Prod Telecom Defence Pulp& Paper Life Science, Food & Pharma Power Automotive & Vehicle Subsidiary Origin Norway; 10% Switzerland 4% Denmark; 3% Finland&Baltic 2% Spain; 1% Czech; 1% Sweden; 77% Other; 2% Real Estate Rail & Roads 15% 45% 40% Energy: hydropower, nuclear power, renewable energy, thermal power, transmission and distribution. Industry: automotive, defence and security, manufacturing, food processing, pulp and paper, steel and mining, oil and gas, pharmaceuticals, telecommunications. Infrastructure: real estate, road and rail. 10 largest clients AB Volvo, Astra Zeneca, Avinor, Ericsson, GE Scania, Swedish Defence Materiel (FMV), Swedish Transport Administration, Vattenfall, Volvo Cars Private Public Note: Numbers above are Jan-Dec

4 Our motto: Innovation by experience! MISSION ÅF is an engineering and consulting company for the energy, industrial and infrastructure markets. Our pool of experience, with a unique range of technologies, creates solutions that are profitable, innovative and sustainable. OUR CORE VALUES Great people with drive Teamwork Indisputable Independence VISION The best partner for the best clients. 4

5 Goal 2020 Sales Sales Euro 2 billion 2 BN EBIT Best in class Best in class > 10 % over a business cycle Net debt Net debt/ebitda over a business cycle > 10 %

6 Our strategy Market position To become # 1 or # 2 in each market we act Growth 13% average annual growth 6.5% organically 6.5% through acquisitions Profitability Best in class, 10% over a business cycle 6

7 Market overview Long term trends Globalisation Digitalisation Urbanisation and Sustainability Repositioning Current Market view Overall healthy demand for ÅF s services and compared to last year the market outlook is slightly more positive. Strong demand from the automotive-, pharma- and pulp industries. Infrastructure market (rail & road and buildings) remains strong. The energy market in Europe is week but with an increasing demand in renewable energy, transmission and distribution. The demand for embedded systems and digital solutions remain strong, particularly from the automotive industry. 7

8 Q4: Increased operating profitability and continued growth Operating profit, the strongest ever Q4 Operating profit, excl. items affecting comparability increased to 297 MSEK (257). The Industry division delivered profitable growth and an increased demand for project business. The Infrastructure division increased market shares and show strong growth, 27%, combined with a stable strong margin performance. Continued profitable growth, especially organic growth within the Technology Division. Net sales MSEK The International division shows, as traditionally, a seasonally strong end of the year result. Growth Total growth 15,5 % whereof organic growth 3,4 %, -5% organic growth within the International division. 80% growth on the Norwegian market. Operating profit excl items affecting comparability, MSEK 8

9 Q4: Industry Division The Industry Division is the Nordic region s leading engineering consultant in product-, process- and production development. A slightly improved market picture. Strong demand in the automotive-, food & pharma-, and pulp industries as well as industrial automation and robotics. Low demand but signs of stabilization in the nuclear-, oil & gas, mining- and steel industry. A growing demand for assignments in which ÅF takes overall responsibility in production- and R&D projects. Operating Profit increased to 123 MSEK. Net sales increase particularly within the automotive industry. New three year assignment from Volvo AB in Brazil and increase assignments from Chinese clients. Continued growth. Total growth 13,2 % (organic growth 4,1 %). Industries Automotive, Energy, Food, Pharma, Pulp & Paper, Steel, Mining, Oil & Gas, Engineering Manufacturing. Markets Oct- Dec 2016 Oct- Dec 2015 Full year 2016 Full year 2015 Net sales, MSEK Operating profit, MSEK Operating margin, % Average number FTEs ,9 9,9 9, Sweden, Norway and Denmark. Involved in projects in more than 60 countries. The Division was strengthened by the acquisition of Reinertsen in Sweden and Solid Engineering. 9

10 Q4: Infrastructure Division The Infrastructure Division has achieved a leading position in Scandinavia during the last 5 years. Continued strong demand in Scandinavia. Public investment still on a high level for infrastructure projects as well as for sustainable solutions within real estate. Operating Profit increased to 127 MSEK. Experience and competence in running large complex projects one of the success factors. Continued stable profit margin, profitability negative affected by Norwegian growth. Industries Rail & Roads and Real Estate. Markets Oct- Dec 2016 Oct- Dec 2015 Full year 2016 Sweden, Norway and Denmark. Full year 2015 Net sales, MSEK Operating profit, MSEK Operating margin, % Average number FTEs ,8 10,7 10, Increasing market share in Sweden and Norway. Continued strong growth. Total growth 26,9 %. Organic growth 5,3 %. ÅF acquires Midtconsult in Denmark (Jan 2017) 10

11 Q4: International Division One of the top 10 leading power generation consultants in the world. Energy market still weak The energy market in Europe, Latin America and Middle East is weak. Demand in South East Asia and Africa continue to increase. Operating Profit declined to 28 MSEK Weak European market for energy projects. The nuclear power station project Angra 3, initiated by the state owned Brazilian Nuclear operator, is still suspended. Acquisition of the Swiss engineering consulting company Edy Toscano AG, a company with revenues of MSEK 430 (2015). Acquisition within the energy division of the Spanish company Aries Ingeniería y Sistemas S.A. Total growth -2,7 % (organic -5,0%). Industries Covers all industries, but mainly involved in power generation and distribution & transmission industries across all energy sources. Markets Oct - Dec 2016 Oct- Dec 2015 Full year 2016 Full year 2015 Net sales, MSEK Operating profit, MSEK Operating margin, % Average number FTEs ,3 10,0 5, Responsible for ÅF s operations outside Scandinavia. Global responsibility for Hydro Power. Home markets: Switzerland, Finland, and the Czech Republic. Other markets: Involved in projects in more than 80 countries 11

12 Q4: Technology Division The Technology Division has a market leading position in Sweden in embedded technologies, systems design and IT solutions. The market for digital solutions remains strong. Strong demand from the automotive industry and increasing demand form the financial sector. The demand from the defence industry was slightly lower than expected. Operating profit and operating margin continue to increase Industries/Services Digital solutions for all industries Markets Sweden Oct- Dec 2016 Oct- Dec 2015 Full year 2016 Full year 2015 Net sales, MSEK Operating profit, MSEK Operating margin, % Average number FTEs ,2 9,2 9, Operating profit increased to 46 MSEK. Operating margin stable at 9,2 %. Growth rates are increasing Total growth 11,3 %. Organic growth 7%. 12

13 Q4 Summary Increased profit and continued growth OPERATING PROFIT 297 MSEK (257) +16 % NET SALES 3,138 MSEK (2,717) +15% HIGHLIGHTS The best Q4 results so far Overall healthy demand for ÅF s services and compared to last year the market outlook is slightly more positive. ÅF positioned for further growth primarily in Norway, Denmark and Switzerland 13

14 Full year summary Net sales Net sales increased to 11 BSEK (9,8 BSEK) Operating profit, the strongest ever Operating profit, excl items affecting comparability increased to 964 MSEK (832). Net Sales, MSEK EBIT margin increased to 8,7% (8,4%). Growth Total growth 12,4% whereof organic growth 2,9%. -7,4% organic growth within the International division. Operating profit excl items affecting comparability, MSEK 14

15 ÅF top Ideal Employer among young professionals*, M. Sc. Engineers Source:The Universum Professional Survey 2016 * Professionals with an academic degree who are 40 years old or younger and have 1-8 years of working experience after completing their studies. 15

16 THANK YOU ÅF GROUP 16