February 25th 2022
When summarizing the year of 2021, it is clear that the post pandemic economic recovery has been broad based and
strong, but also challenging due to increasing raw material prices and high volatility of prices. Consolis order intake amounted to € 346 million in Q4, which equals a book-to-bill ratio of 1.12. Our order book grew 5 percent since the last
quarter and amounted to € 925 million at the end of the fourth quarter. Market demand remained strong across markets
and our end customer segments.
Net sales in the fourth quarter amounted to € 308 million (262), up 17 percent versus last year. Adjusted EBITDA amounted to € 20.7 million (27.6) and the adjusted EBITDA-margin was 6.7 percent (10.5). Free cash flow in the quarter amounted to
€ 34.4 million (30.2), primarily explained by seasonality effects and reversal of change in working capital in line with previous years, which means that the RCF was undrawn at year end of 2021.
The sale of the CWF business was completed on January 31st, 2022. It has been a complex carve out and a long process, but the completion of this transaction marks an important milestone in the transformation to the remaining, new Consolis – a building materials group – focusing on its core building business with a market leading position in Europe, where we see significant growth opportunities across markets for our solutions.
Highlights of the fourth quarter 2021:
- Net sales from continued operations amounted to € 308 million (262), corresponding to a sales growth of 17 percent. Currency effects had a positive impact of 1 percent
- Operating profit (EBIT) amounted to € 12.3 million (-9.3)
- Adjusted EBITDA amounted to € 20.7 million (27.6), corresponding to a margin of 6.7 percent (10.5). Exchange rates had a positive impact of 0.5 percent
- Order book increased 5 percent to € 925 million, compared to 878 million at the beginning of the quarter. Order intake in the quarter totaled € 346 million, and the book to bill ratio corresponded to 1.12
- Free cash flow from continued operations in the quarter amounted to € 34.4 million (30.2), primarily explained by seasonality effects in working capital. LTM cash conversion was 57%
Events after the period:
- On January 31, 2022, Consolis completed the sale of its Civil Works France business.
Consolis will host a presentation with the possibility to attend through a telephone conference at 10.00 CET today. The presentation will be held in English and will also be available as a recorded webcast on: https://edge.media-server.com/mmc/p/5sjabg6r
To ensure that you are connected to the conference call, please dial in at least five minutes before the conference call starts to register your attendance and enter the participation code: 16841111#.
UK: +44 33 33 00 08 04
US: +1 63 19 13 14 22
Sweden: +46 8 56 64 26 51
Denmark: +45 35 44 55 77
France: +33 17 07 50 71 1
Germany: +49 69 13 80 34 30
The Interim Report and the presentation are available on www.consolis.com.