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7 April 20211 Consti Plc / Annual General Meeting
CONSTI PLC
ANNUAL GENERAL MEETING
7 APRIL 2021
CEO Esa Korkeela
1. Figures for FY 2020
2. Consti’s renewed strategy
3. Outlook for 2021
CONTENTS
7 April 20212 Consti Plc / Annual General Meeting
Consti Group’s net sales overview 2018-20Diverse business and customer mix, presence in Finland’s growth centres
3
1) Business area splits excluding eliminations
Net sales by business area Net sales by geography Net sales by customer group Net sales by project / service
7 April 2021 Consti Plc / Annual General Meeting
31% 33%30%
40% 36%
32%
5% 10%
14%
23% 21%24%
2018 2019 2020
BuildingTechnology
Public Sector
Corporations
HousingCompanies
77% 76% 76%
13% 14% 15%
10% 11% 10%
2018 2019 2020
Others
Tampere &Pirkanmaa
Helsinki &Uusimaa
24%17% 18%
23%
29%31%
36%33%
18%
17%21%
33%
2018 2019 2020
Corporations
Real estateinvestors
Public sector
Housingcompanies
87% 86% 84%
13% 14% 16%
2018 2019 2020
Servicebusiness
Projectbusiness
104,3 110,486,1
134,3 119,1
90,6
18,0 33,9
41,4
75,2 69,7
69,4
-16,1 -18,2 -12,9
256,2 261,6
300,2
315,8 314,8
274,6
2015 2016 2017 2018 2019 2020
181,3 190,8
225,7 225,1
185,8 177,9
2015 2016 2017 2018 2019 2020
213,5 223,1
278,1
228,5 214,8 214,3
2015 2016 2017 2018 2019 2020
Net sales, order intake and order backlogUncertainty increased by COVID-19 reflected in the development of net sales and order intake in
finacial year 2020
NET SALES (EUR million) ORDER INTAKE (EUR million) ORDER BACKLOG (EUR million)
7 April 20214 Consti Plc / Annual General Meeting
Building
TechnologyPublic SectorCorporations
Housing
CompaniesEliminations Group
0,39
0,54
0,16
0,40
0,61
1,05
-0,14
-0,30
0,30
0,70
2015 2016 2017 2018 2019 2020
8,4
11,0
-0,4
-2,1
4,6
8,2
2015 2016 2017 2018 2019 2020
Development of operating result (EBIT) and earnings per share (EPS)In 2020, profitability improved each quarter towards the end of the year and was clearly better
compared to previous year
■ FY 2020 EBIT amounted to EUR 8.2
(4.6) million
■ EBIT margin was 3.0 (1.5) percent
■ EBIT improved quarter by quarter
towards the end of the year and was
clearly better than in comparison
period
■ All business areas were profitable in
FY 2020
■ FY 2020 EPS amounted to EUR 0.70
(0.30)
■ The Board of Directors proposes to the
General Meeting that a dividend of
EUR 0.40 per share shall be paid for
the financial year 1 January – 31
December 2020
7 April 20215 Consti Plc / Annual General Meeting
EBIT (EUR million) EPS (EUR) COMMENTS
Dividend per
share (EUR)
Net working capital, cash flow and financial positionCash flow improved clearly year-on-year and financial position strengthened in 2020
7 April 20216 Consti Plc / Annual General Meeting
1) The cash conversion is the amount of free cash flow divided by EBITDA. Free cash flow means net cash flow from operating activities before financial items and taxes, less capital used for purchase of intangible assets and property, plant and equipment
Cash conversion1) Balance sheet KPIs (31 Dec 2020)
Average cash conversion
99 %
14.1 %(64.4 %)
Gearing
32.7 %(29.8 %)
Equity ratio
EUR
4.7m(18.9m)
Net debt
EBITDA (EUR million)
Free cash flow (EUR million)
Net working capital
Net working capital at year-end (EUR million)
-7,3-7,9
-16,1
-9,8
-7,2
-15,8
2015 2016 2017 2018 2019 2020
8,9
10,9
8,9
-7,1
4,0
18,3
10,5
13,1
1,7
-0,5
8,1
11,4
2015 2016 2017 2018 2019 2020
3% (4%)
97% (96%)
42% (42%)
58% (58%)
Personnel KPIs 2015-20Personnel turnover decreased while absence rate increased year-on-year, Consti employed 927
renovation and building technology professionals at the end of the financial year 2020
7 April 20217 Consti Plc / Annual General Meeting
Fixed termPermanentBlue collar White collar
Personnel at year-end
(average)
Blue collar / White collar
2020 (2019)
Permanent / Fixed term
2020 (2019)
Permanent personnel turnover ratio
(% of employees leaving)
Accident rate
(accidents per million hours worked)Average absence rate (%)
15,2 %
19,9 %
15,4 %
20,7 %
17,4 %
12,9 %
0%
5%
10%
15%
20%
25%
2015 2016 2017 2018 2019 2020
26
2220 19
1113
0
5
10
15
20
25
30
2015 2016 2017 2018 2019 2020
4,2 %
3,1 % 3,1 % 3,3 % 3,5 %
5,4 %
0%
1%
2%
3%
4%
5%
6%
7%
8%
2015 2016 2017 2018 2019 2020
890(910)
935(933)
1 079(1 088)
1 046(1 093) 990
(1 037) 927(971)
0
200
400
600
800
1 000
1 200
2015 2016 2017 2018 2019 2020
1. Figures for FY 2020
2. Consti’s renewed strategy
3. Outlook for 2021
CONTENTS
7 April 20218 Consti Plc / Annual General Meeting
9
Consti vision development 2017-2023
7 April 2021 Consti Plc / Annual General Meeting
2017 2020 2023
A leading expert in
multiple types of
renovation, a pioneer
in our field, improving
people's living
environment
We are passionate
about renovating and
developing the built
environment in a
sustainable and
sensible manner. This
is why we are number
one in renovation
construction
Our customer’s
number one partner
and expert in multiple
types of construction
10
To realise its vision and goals,
Consti has defined the following
strategic focus areas:
• Growth in current business
controlled and profitable growth
in attractive renovation and
building technology segments
• New businesses
comprehensively answering
customer needs by growing in
attractive new construction
projects
• Improving relative profitability
expanding value created for
customers and active
management of business
portfolio
• Improving production efficiency
Target to have the industry’s
most efficient production and a
steady level of performance in
project deliveries
• People and management
supporting profitable growth by
investing in the implementation
of the Consti Way, expanding
competence, adding diversity,
and adopting LEAN principles
• Corporate social responsibility
and sustainable development
concentrating on updated
responsibility themes, which are
environmentally friendly
business, work safety and well-
being at work, supply chain and
customer satisfaction
1
2
3
4
5
6
1. Figures for FY 2020
2. Consti’s renewed strategy
3. Outlook for 2021
CONTENTS
7 April 202111 Consti Plc / Annual General Meeting
Outlook and guidance for 2021
12 7 April 2021 Consti Plc / Annual General Meeting
■ The coronavirus pandemic continues to cause uncertainty to Consti’s
operating environment
■ Although market research institutes expect the renovation market to grow
in 2021, new waves of the pandemic and lockdowns remain possible
■ The most significant short-term impacts of the corona crisis have to do
with both the company’s ability to carry out existing projects as well as
short-term demand outlook
– Uncertainty pertaining to handling existing projects relate to workforce
availability, possible illnesses, material availability and official
regulations
■ In 2021, Consti will concentrate on ensuring the performance of its
business and implementing its new strategy. The company estimates that
it has good opportunities for continuing solid performance in 2021 as well
■ ”The Company estimates that its operating result for 2021 will be in the
range of EUR 7-11 million. The range for 2021 profit guidance is wide due
to the uncertainties related to the Covid-19 pandemic.”
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