ŚCIŚLE POUFNE. Financial Performance Overview Quarter 3, 2017

Transcription

1 Financial Performance Overview Quarter 3, 2017 Poznan, November 2017

2 Key numbers m thous. PLN thous. PLN thous. PLN employees in Pekabex Capital Group 1 quantity of produced prefabricates by the end of value of order portfolio 2 as of sales revenue at the end of value of issued guarantees at the end of thous. PLN thous. PLN thous. PLN thous. PLN thous. PLN EBITDA 3 at the end of net profit at the end of net debt 4 at the end of cash at the end of working capital 5 at the end of (1) Incl. cooperating persons, as of (2) Applies to contract customers for prefabrication and construction services (excl. Pekabex branch in Germany) (3) EBITDA - operating profit increased by amortization (4) Net debt means the difference between interest-bearing debt (loans and leasing) and cash and cash equivalents (5) Working capital - total of trade receivables and other receivables, inventories and cash less trade payables and other liabilities 2

3 Results as of Sales revenues, Gross profit margin on sales (1) (thous PLN, %) EBITDA, EBITDA margin (2) (thous. PLN, %) ,2% 17,6% 7,4% 7,3% 10,2% 7,3% 3Q Q Q 2016 oczyszczony cleaned 1 3Q 2017 oczyszczony cleaned 1 3Q Q 2017 Profit from operating activities, Profitability of operations (3) (thous. PLN, %) Net profit, Net sales profitability (4) (thous. PLN, %) ,2% 5,2% 8,0% 5,2% 3,7% 3,7% 6,5% 3,7% 3Q 2016 oczyszczony cleaned 1 3Q 2017 oczyszczony cleaned 1 3Q Q Q 2016 oczyszczony cleaned 1 3Q 2017 oczyszczony cleaned 1 3Q Q 2017 (1) Gross margin on sales defined as gross profit on sales divided by sales revenues (2) EBITDA margin as a sum of operating profit and amortization divided by sales revenues (3) Profitability of operating activity as a quotient of operating profit and revenues from sales (4) Net sales profitability as net profit divided by sales revenues * The presented cleaned results have been adjusted by: 1st level of clean-up: reduction of the result by profit on a bargain purchase of a subsidiary (Q3 2016: PLN 9,806) 3

4 Results in 3 quarters of 2017 Sales revenues, Gross profit margin on sales (1) (thous. PLN, %) EBITDA, EBITDA margin (2) (thous. PLN, %) ,8% 18,9% 17,3% 6,3% 7,8% 7,9% 1Q Q Q Q Q Q 2017 Profit from operating activities, Profitability of operations (3) (thous. PLN, %) Net profit, Net sales profitability (4) (thous. PLN, %) ,0% 5,6% 5,7% 3,0% 3,7% 4,5% 1Q Q Q Q Q Q 2017 (1) Gross margin on sales defined as gross profit on sales divided by sales revenues (2) EBITDA margin as a sum of operating profit and amortization divided by sales revenues (3) Profitability of operating activity as a quotient of operating profit and revenues from sales (4) Net sales profitability as net profit divided by sales revenues 4

5 Results as of Net debt (1) (thous. PLN) Fixed assets (thous. PLN) Q Q Q Q 2017 Cash flows from operating activities (2) (thous. PLN) Equity capital (thous. PLN) (6 024) (21 130) 3Q Q 2017 Net cash from operating activities EBITDA cleaned 1 EBITDA cleaned 2 3Q Q 2017 (1) Net debt is the difference between total debt and cash and cash equivalents (2) Clean-up EBITDA - operating profit increased by amortization and decreased by profit on occasional acquisitions 5

6 Results as of Value of inventories (thous. PLN) Receivables from deliveries and services (incl. valuation of construction contracts) and other receivables (thous. PLN) Q Q 2017 raw materials, materials ready products - delivery contracts and others ready products included in valuation of contracts-receivables 3Q Q 2017 receivables (excl. valuation of construction contracts) receivables from construction contracts Liabilities for deliveries and services and other liabilities (incl. valuation of construction contracts) (thous. PLN) Cash (thous. PLN) Q Q Q Q 2017 liabilities (excl. valuation of construction contracts) liabilities due to construction contracts 6

7 Sales revenues Sales revenues by segment (thous. PLN) 3Q Q ,3% ,6% ,6% ,0% - 23,5% Contracts - prefabrication Contracts-construction services Production services Others Total 3Q Q Q Q Q Q Q Q Q Q

8 Invoiced sales revenues Invoiced sales revenues by segments and geographic areas (thous. PLN) 3Q Q ,8% ,3% ,8% ,8% ,0% - 23,5% Contracts-prefabrication (Poland) Contracts-prefabrication (export) Contracts-construction services (Poland) Production services (export) Others (Poland) Total 3Q Q Q Q Q Q Q Q Q Q Q Q 2017 * The breakdown of revenues by area excl. valuation of contracts 8

9 Invoiced sales revenues Invoiced sales revenues by geographic areas (thous. PLN) 3Q Q ,8% ,8% ,8% ,6% Q Q Q Q Q Q Q Q 2017 Poland Scandinavia Germany Total * The breakdown of revenues by area excl. valuation of contracts 9

10 Operating results of segments cumulatively for 3 quarters Operating result of segment Profitability of the operating result of segment (1) (tys. PLN, %) 3 quarters of quarters of ,5% 35,2% 9,2% 9,6% 10,0% 9,7% 10,0% 3,6% 12,2% 8,7% Q 2016 Kontrakty - prefabrykacja 3Q 2016 Kontrakty - usługi budowlane 3Q 2016 Usługi produkcyjne 3Q 2016 Pozostałe 3Q 2016 Ogółem 3Q 2017 Kontrakty - prefabrykacja 3Q 2017 Kontrakty - usługi budowlane 3Q 2017 Usługi produkcyjne 3Q 2017 Pozostałe 3Q 2017 Ogółem (1) Profitability of operating result of segment calculated as the ratio of the operating result of segment and segment s sales revenues 10

11 Operating results of segments: Share of the third quarter in three quarters of 2017 cumulatively Operating result of segment, Profitability of the operating result of segment (1) (thous. PLN, %) 3 quarters of 2017 cumulatively 3rd quarter of ,0% 3,6% 12,2% 35,2% 8,7% 11,0% 2,6% 13,7% 26,9% 9,2% Q 2017 Kontrakty 1-3Q 2017 Kontrakty - prefabrykacja - usługi budowlane 1-3Q 2017 Usługi produkcyjne 1-3Q 2017 Pozostałe 1-3Q 2017 Ogółem 3Q 2017 Kontrakty - prefabrykacja 3Q 2017 Kontrakty - usługi budowlane 3Q 2017 Usługi produkcyjne 3Q 2017 Pozostałe 3Q 2017 Ogółem (1) Profitability of operating result of segment calculated as the ratio of the operating result of segment and segment s sales revenues 11

12 Production in particular plants Production in particular plants (in m3) 3Q Q ,1% ,8% + 58,4% ,9% ,4% Poznan - 3Q Q 2017 Bielsko-Biała - 3Q Q 2017 Gdansk - 3Q Q 2017 Mszczonow - 3Q Q 2017 Total - 3Q Q 2017 structure floor slabs 12

13 Large protfolio of orders The Group systematically builds a strong and diversified portfolio of orders, that will fill production in subsequent periods Value of order portfolio only incl. contract sales 1 (tys. PLN) contract sales to be implemented in current year contract sales to be implemented next year contract sales to be implemented in subsequent years Backlog - aggregated value of signed contracts for the Pekabex Group, which were concluded on a specific day; it does not include planned contracts, but not yet concluded; The final revenues from contracts depend on many factors independent of the Group; The values of the order portfolio broken down into individual periods / years, which results from the payment schedules indicated in the contracts, assumes the timely execution of contracts, including the absence of delays and other unforeseen situations that could affect the implementation of a given contract. 1 incl. contractual sales - segments: contract implementation prefabrication and implementation of contracts construction services 13

14 Value of issued guarantees Value of insurance and bank guarantees issued in comparison to revenues from sales (thous. PLN)

15 Dynamics of construction/assembly production in 1Q 2017 In September this year the construction/assembly production was by 15,5% higher than a year before, when a decrease of 15,3% was recorded. CONSTRUCTION/ASSEMBLY PRODUCTION (average monthly 2010=100) * Data from Main Statistics Bureau 15

16 Selected contracts implemented in the third quarter of

17 Olivia 7 - contract value approx. PLN 35,217 thous. The facility is implemented within the complex Olivia Business Centre. 17

18 Olivia Star contract value over PLN thous. The first such high building in Poland (180 m) realized in prefabrication technology is already being completed. 18

19 A-T Krotoszyn contract value approx. PLN thous. Expansion of the warehouse and office building with accompanying structures and infrastructure implemented in the "design and build" system 19

20 Shopping Center "Stara Ujeżdżalnia" - contract value 20,293 thous. PLN The construction of the shopping center began in the first quarter of 2017 and will end in the fourth quarter of The total area of this shopping center will be m2, of which the largest part will occupy a commercial area - 28,000 m2. 20

21 Business Garden Poznań II value of the contract PLN thous. Realization of a prefabricated structure, 5 multi-storey office buildings and a car park, which constitute the 2nd stage of investment in the Business Garden Poznań complex. 21

22 Nytt Barnsjukhus-Goteborg-Sweden PLN thous. Construction of a hospital located in Ostra. 22

23 Höjdpunkten-Linköping-Sweden value approx. PLN thous. 15-storey residential building and a detached 3-level garage, a delivery project implemented for NCC. First, we delivered a garage, now we deliver the last floor of the building. 23

24 Linaberg 19 Stockholm-Sweden approx. PLN thous. A residential project consisting of 501 apartments with a total area of m2. It is the largest of contracts carried out in Sweden. 24

25 Gaddorna-Malmo-Sweden approx. PLN thous. A residential project implemented in Sweden where the total floor area was 8,570 m2. 25

26 The most important events of the third quarter Purchase of a plot for the implementation of a pilot development project (PLN 3.5 M) Automation - purchase of 4 machines: bending machines and welding machines (WA), bending machines (PO), benders (GD), total value of 2.8 MPLN (of which the bending machine in GD in rental with the option to purchase after a year - 1 M PLN) Signing of significant contractual agreements (eg LG) Record production levels 26

27 Production in particular months of 2017 Total production in particular months (in m3)

28 Thank you for your attention 28 Working translation