CONSTI YHTIÖT OYJ

CONSTI YHTIÖT OYJ

Varsinainen yhtiökokous

6.4.2020

CONSTI PLC

Annual General Meeting

7 April 2021

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


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


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)


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


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


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


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



3. Outlook for 2021

CONTENTS


9

Consti vision development 2017-2023


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



3. Outlook for 2021

CONTENTS


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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