Goodtech : Presentasjon Q1 2023

May 05, 2023 at 02:29 am

Control and information in all layers

The preferred partner for industrial efficiency

Margrethe Hauge	Øyvind Osjord
CEO	CFO

Webcast Goodtech ASA

Q1 2023

1	Finance
2
Market
3	Strategy
4	Innovation
5	The people

Solid growth in revenues and margins in the quarter

Significant growth in order backlog through the quarter

Focus on automation, robotisation and digital solutions

Investing to increase the competitiveness of Nordic industries

Increasing number of employees - and organisational efficiency

Webcast Goodtech ASA Q1 2023

Summary

174,6 MNOK	14,8 MNOK
Q1 2023 Revenues	Q1 2023 EBITDA

282 MNOK

Order backlog

Ready for growth in an exciting and growing market

Continuing to invest in solutions improving the competitiveness of Nordic industries

Looking for new colleagues and partners - and a more effective working day

Webcast Goodtech ASA Q1 2023

Strategic re-positioning| 2021 and 2022 focused on restructuring is behind us

What did we say?

What did we do?

What will we do?

Strategy

Clear focus on core business
Grab market share within next generation control systems and software
Organise and concretise innovation

Sold the group's switchboard workshop at Os, the CNC- machining workshop in Arvika, and the organisation of the biogas-, water- and sanitation business in Åland
Extended competencies within MES, cloud SCADA, cyber security and Operational Technology (OT) infrastructure

Organisation

Recruit the best engineers within industrial automation, robotisation, digitalisation and electrification
Secure that our employees are motivated, and invested in our change-journey

Grown from 228 employees in the core business* in Q1 2021, to 282 (+24%) in Q1 2023
The group's employees - including management team, has invested a total sum of 8 MNOK of their own funds into Goodtech between Q1 2021 og Q1 2023**

Through digital

transformation, Goodtech ensures lasting competitive advantage for Nordic industrial companies

Operations

Strengthen our position as Norway's largest independent systems integrator
Grab market share in the Nordics
Bring the group back to leading profitability

The order backlog in the group's Norwegian business* has grown by 88% from Q1 2021 to Q1 2023
The order backlog of the group's Swedish business* has grown by 90% from Q1 2021 to Q1 2023
282% improvement in EBITDA-margin from Q1 21 to Q1 23

The core business is defined as the groups continuing operations per Q1 2023, which thus excludes the switchboard workshop at Os (sold in January 2022), the CNC-machining workshop in Arvika (sold in august 2022), and the biogas-, water and sanitation business at Åland (organisation sold in December 2022)
Includes the groups stock incentive program for all employees for 2021 (announced in 2021) and 2022 (announced in 2023), as well as the incentive program with matching-shares for leading employees rounds 1 and 2 (Q3 2022 and Q1 2023). Values are summes based on the value of the shares at time of purchase

Webcast Goodtech ASA Q1 2023

Key financial figures*

Revenue* | kNOK

		+32%
			143 252	174 555
132 021	126 304	112 951



							Q1
Q1	Q2	Q3		Q4
2022	2022	2022	2022		2023
EBITDA \| kNOK
		+56%
9 491			11 583		14 795

4 995	4 195

							Q1
Q1	Q2	Q3		Q4
2022	2022	2022	2022		2023
EBITDA-margin
		+18%
7.2%			8.1%		8.5%
	4.0%	3.7%

Q1	Q2	Q3		Q4		Q1
2022	2022	2022	2022		2023

Highlights

1			 In 2023 the group continues to report its business unit on Åland as held for sale in accordance with IFRS 5. Historical
			comparable figures have thus ben re-classified in the same way to ensure comparability
			 32% growth in revenues from the same quarter in 2022. Q1 2023 was a quarter of high activity in all the regions of
			the group - highest recorded revenues in a quarter since Q4 2017, in spite of macro-economic and political
			instability in Europe


2			 For the past years Goodtech has invested in competency enhancement and innovation, brining several new solutions
			to commercialisation now in 2023
			 Through 2022 the group has narrowed its focus towards industrial automation, robotisation, digitalisation and
			electrification - going in to 2023 with a clean focus on core business
			 5,3 MNOK nominal improvement EBITDA compared to the same quarter in 2022 (+56%)

The profitability growth quarter-on-quarter continues - 18% improvement in EBITDA-marginscompared to thesame quarter in 2022
Highest recorded EBITDA-margins in the group since Q1 2019

* All values contain Goodtech Solutions Manufacturing AB up until (and including) the transfer date to new owners at 31.08.2022.

The group has classified the business at Åland as held for sale in accordance with the guidelines in IFRS 5. Revenues and EBITDA related to the business in Åland for the entire 2022 is thus excluded in the figures above

Kvartalsrapport Goodtech ASA Q1 2023

Sales and order backlog*

Order backlog* | kNOK

Development in order backlog | Continued operations

269 564

282 051

204 630	226 646	219 662

Q1	Q2	Q3	Q4	Q1
2022	2022	2022	2022	2023

17 495	10 596	16 909

+247%

58 654

44 025	47 643
36 088

		•	Goodtech's Swedish operations has increased its order backlog
			by 247% from Q1 2022 to Q1 2023 (42 MNOK)
		•	The Swedish market are expected to continue investing in 2023,
			after a halt in investment decisions during the COVID19-
			pandemic

Order intake* \| kNOK

				193 154	187 041
121 999	148 320	105 967



	Q1	Q2	Q3		Q4	Q1
2022	2022	2022	2022		2023
Book-to-bill* (order intake / revenue)

		1,2x			1,3x	1,1x
	0,9x	0,9x




	Q1	Q2	Q3		Q4	Q1

Q3	Q4	Q1	Q2	Q3	Q4	Q1
2021	2021	2022	2022	2022	2022	2023
					+19%

	204 908					221 921	223 396

		187 721	182 112	183 574

123 719

Q3	Q4	Q1	Q2	Q3	Q4	Q1
2021	2021	2022	2022	2022	2022	2023

• Goodtech's Norwegian operations increased its order backlog by

19% from Q1 2022 to Q1 2023

• The order backlog in Norway is split between small and medium-

sized automation and digitization projects - mostly formalized

through framework agreements, consulting assignments and

FEED studies, and larger fixed-price projects in partnership with

industry players

• The group's order backlog is considered to represent a balanced

mix of fixed price and frame agreement projects, spread across a

broad range of customers and market segments in Nordic

industry

2022

2023

The order backlog for the group's discontinued operations at Åland was 9,5 MEUR by the end of Q1 2023

* All values include Goodtech Solutions Manufacturing AB (Goodtech's former CNC-machining business at Arvika) up until - and	5
including, take-over from new owners at 31.08.2023. The group's discontinued operations at Åland are not included

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Disclaimer

Goodtech ASA published this content on 05 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 May 2023 06:28:08 UTC.

	1st Jan change	Capi.
GOODTECH ASA	+39.68%	36.13M
NORDSON CORPORATION	-12.20%	13.28B
VALMET OYJ	+2.22%	5.27B
SUZHOU MAXWELL TECHNOLOGIES CO., LTD.	-7.74%	4.58B
HAITIAN INTERNATIONAL HOLDINGS LIMITED	+14.91%	4.54B
IHI CORPORATION	+74.03%	4.52B
KRONES AG	+4.83%	3.97B
WUXI LEAD INTELLIGENT EQUIPMENT CO.,LTD.	-35.04%	3.56B
TOMRA SYSTEMS ASA	+3.20%	3.53B
KADANT INC.	+4.81%	3.45B

1st Jan change

Capi.

GOODTECH ASA

+39.68%

36.13M

NORDSON CORPORATION

-12.20%

13.28B

VALMET OYJ

+2.22%

5.27B

SUZHOU MAXWELL TECHNOLOGIES CO., LTD.

-7.74%

4.58B

HAITIAN INTERNATIONAL HOLDINGS LIMITED

+14.91%

4.54B

IHI CORPORATION

+74.03%

4.52B

KRONES AG

+4.83%

3.97B

WUXI LEAD INTELLIGENT EQUIPMENT CO.,LTD.

-35.04%

3.56B

TOMRA SYSTEMS ASA

+3.20%

3.53B

KADANT INC.

+4.81%

3.45B

Market Closed - Oslo Bors Other stock markets 10:45:00 2024-06-28 EDT			5-day change	1st Jan Change
13.8 ^NOK	+2.22%		+0.36%	+39.68%

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Goodtech ASA Reports Earnings Results for the First quarter Ended March 31, 2021	21-05-07	CI

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