Awaiting order momentum

Profitability improvements, but lower orders

Seventh quarter of EBIT improvement

Q3'24 results fast comment

Ready to push the pedal on growth

Still room for improvement

Q2 sales EUR 42m, -7% y-o-y, order intake EUR 40m, +11% y-o-y. Minor adjustments to '24-'26 estimates. FCF positive, continued focus on working capital.

Margin improvements and positive FCF

Q1'24 results fast comment

Normalised growth but improving margin

Q2 report due on 25 July at 07:00 CEST. Q2e: sales EUR 42m, -7% y-o-y; EBIT margin of 4.2% (2.6%). Positive margin trends in PM, improvement areas defined in Industry.

Cavotec SA: 1 director

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Margins climb for fifth straight quarter

Q1: sales EUR 42m, +9% y-o-y, order intake EUR 40m, -5% y-o-y. We lower '24e-'26e sales and order intake by 6-10% and 4-6%. Keep margin estimates largely intact on improved profitability.

Margin improvements taking effect

Q1'24 results fast comment

Margin improvements ahead

Q1 report due Wednesday 15 May at 07:00 CEST. Q1e: sales EUR 44.2m, up 12% y-o-y; EBIT margin of 3.9% (0.8%). We expect positive margins, sales and cash flow trends to continue.

Cavotec SA - Increased confidence in H2 profitability

Strong backlog, growth in sales and break-even EBIT ‘22e EBIT up 2%, ‘23e-‘24e EBIT down 9-4% ‘24e EBIT 4x above ‘22e, 24% org. sales CAGR ‘22e-24e

Cavotec SA - Higher sales and smaller losses than expected

Backlog +98% y-o-y, sales +20% organically, break-even Airports exit to be finalised this week, ramp-up in H2’22 Positive quarterly performance

Cavotec SA - Largest shore power order ever recorded

10% of our 2022e order backlog, Q1’22 BTB was 1.5x Deliveries from the backlog key to profitability ‘24e EBIT 4x above ‘22e, 26% org. sales CAGR ‘22e-‘24e

Cavotec SA - Strong backlog supports return to profitability

Annualised orders approaching ~EUR 200m Return to profitability in H2’22e ’24e EBIT 4x above ’22e, 26% org. sales CAGR ’22e-‘24e

Cavotec SA - Better than expected

Continued strong backlog build-up, bank amendment China production expected to resume mid-May Small positive relief expected