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Investor Presentation Investor Presentation June 2021 2 Investor Presentation June 2021 Agenda 1. Business and strategy overview 2. Sustainability targets and offering 3. Reaching updated financial targets through strategy execution 4. Group development 5. Guidance and dividend 1. Business and strategy overview 4 Investor Presentation June 2021 Caverion at a glance We enable performance and people’s wellbeing in smart and sustainable built environments 238 locations in 11 Sweden 20% countries Finland 19% Germany 17% New >30,000 Norway 15% Revenue image properties under 53 our service Industry 13% EUR 2.2 Austria 9% billion Denmark 4% 45 Other 3% >10,000 73 properties digitally Industry 2 34% 2 monitored Real Estate Users 4 23% 8 Public Sector Customer 16% New 15,000 General Contractors segments 4 image employees 16% Real Estate Investors and Developers 12% 19 16 Work safety Listed on Nasdaq Head office in (LTIFR) 4.2 Helsinki Finland 12 2020 figures 5 Investor Presentation June 2021 Fit for Growth strategy PURPOSE VISION We enable performance and people’s wellbeing in smart and First choice in digitalising environments sustainable built environments MUST-WINS Excellent customer Sustainable Top performance Winning team experience solutions at every level FOUNDATION KEY THEMES Building Performance culture and values Digitalisation and sustainability Safety | Quality 6 Investor Presentation June 2021 Focus on profitable growth and constant productivity improvement while increasing interaction with customers Good progress in strategy .The critical phase of turnaround is behind us ﴿ We are on a good track to deliver increasing profits ﴿ and strong cash flow going forward. We have continued to invest in organic growth, e.g. in ﴿ our digital platform, remote center capabilities, sustainability offering, sales, brand − as well as M&A. We have started to see an increased interest ﴿ towards those parts of our lifecycle offering that help customers make their operations more sustainable. Focus will remain on efficiency improvement Significant potential still in pricing, productivity and ﴿ procurement Data enabled efficiency ﴿ Transforming our operating model ﴿ 7 Investor Presentation June 2021 Caverion’s Building Performance offering gaining ground By making built environments smart and sustainable, we enable performance and people’s well-being Efficiency business (~3/4 of revenue) Solution business (~1/4 of revenue) Build Maintain Partner Smart • Design & Build • Technical maintenance • Performance agreements • Advisory services • Technical installation • Small service projects • Facility management • Digital solutions • Outsourcing • Smart technologies • Life-cycle solutions • Energy efficiency + ++ +++ ++++ + = Our estimate of market growth Meeting increasing regulatory requirements from governments 2. Sustainability targets and offering 9 Investor Presentation June 2021 Climate Economic Change downturn Corona Major need for building renovation in Europe − Major opportunity for Caverion EU target net 55% emission reduction by 2030, major renovation/energy efficiency investment wave expected 36% of the energy- 75% of buildings in the related emissions EU are energy- (GHG) come from inefficient buildings in the EU 40% of EU’s final energy 60% is consumed in EU target to reduce buildings building GHG emissions by 2030 11 Investor Presentation June 2021 By 2030… Our positive GHG handprint is 10x greater than our own GHG footprint* *Scope 1-2 12 Investor Presentation June 2021 Caverion’s sustainability focus areas and targets By 2030, our positive GHG handprint is 10x greater than our own GHG footprint 2020 2025 Focus areas level level Our business makes sustainable impact Our GHG footprint is defined and measured 66% 100% Our offering has a defined GHG handprint - 100% E GHG handprint / footprint (Scope 1-2) >1x 5x We care for our employees Accident frequency rate: LTIFR 4.2 <2 Share of female employees % 11% 15% S We ensure efficient and high-quality implementation of sustainability Supplier Code of Conduct sign-off rate (%) 63% >90% % of employees trained in sustainability 50% 100% G % of tenders that include sustainability criteria 0% 100% 13 Investor Presentation June 2021 Caverion’s solutions along the lifecycle create clear sustainable impact EU’s and national stimulus packages expected to be directed to green growth and digitalisation Direct sustainability impact through: Digital, data-driven, analytics Stimulus packages and legislation focused integrated solutions are in all our countries supporting sustainable Lifecycle engagement via outcome-based ﴿ contracts, EPC etc investments. Caverion expects stimulus packages to increase demand also in Caverion’s areas of operation as of H2/2021. .Solution projects with smart tech, e.g ﴿ refrigeration, security, automation; upgrades and modernisations Examples: EU EUR 750bn recovery fund stimulus ﴿ package Advisory services, e.g. Smart readiness ﴿ indicator, energy advice, sourcing of subsidies ﴿ EPBD directive EU F-gas regulation ﴿ EU taxonomy ﴿ Digital services, e.g. remote center, analytics ﴿ (SmartView) Financing solutions, e.g. PPP, XaaS and leasing ﴿ solutions Traditional project & service business and technical discipline expertise We are committing to science based environmental targets and other initiatives Current development Annual reporting Latest ratings (score) Committing to science based ﴿ Complied in the ﴿ ESG Risk rating: Low risk ﴿ environmental targets sustainability report (4/2020) -Aligning with EU taxonomy ﴿ EU non ﴿ (and considering TCFD financial reporting ﴿ A (12/2020 recommendations (Considering KPI’s ﴿ Signatory of the UN ﴿ C (NP ﴿ with SASB recommendations Global Compact and for our sector UN SDG’s in 2020 (D (2020 ﴿ Nasdaq ESG ﴿ Transparency partner 15 Investor Presentation June 2021 UN Global Compact − for reaching a better world – In 2021, Caverion joined UN Global Compact ﴿ the world’s largest corporate sustainability initiative. We are committed to aligning our operations ﴿ and strategies with 10 universally accepted principles in the areas of human rights, labour, environment and anti-corruption. 3. Reaching updated financial targets through strategy execution 17 Investor Presentation June 2021 Financial targets and results so far Cash conversion Profitability Leverage Growth (Adjusted EBITA-%) (Net debt/EBITDA) Organic growth >100% > 5.5% < 2.5x > 4% p.a. 2020: 158.5% 2020: 2.8% 2020: -0.2x 2020: Services growth 8.7% Q1/2021: 137.4% Q1/2021: 3.2% Q1/2021:-0.5x in local currencies, share of Services 63.3% (Q1/2021: 65.4%) 18 Investor Presentation June 2021 Summary of Caverion’s strategic Must-Wins Strategy execution Professional sales management ﴿ Excellent Customer Experience ﴿ Service culture Drive increased customer loyalty ﴿ Roll out sustainable solutions and digital services ﴿ Boost profitable growth in smart technologies & FM ﴿ Sustainable Solutions ﴿ Roll out Caverion brand story and new offering Drive selectivity and productivity strategy in Projects ﴿ Service performance management ﴿ Project performance management ﴿ Top Performance at Every Level ﴿ Transformation in procurement Fixed cost performance management ﴿ M&A excellence ﴿ Building Performance culture ﴿ Winning Team ﴿ Right people in right places Professional growth ﴿ 19 Investor Presentation June 2021 Fit for Growth journey 2016-2020 Shift in business mix and turnaround in profitability progressing Group revenue EUR million 2,364 2,276 2,204 2,123 2,155 Adjusted EBITDA, EUR million Adjusted EBITDA margin, % 120.4 116.5 1,234 1,067 991 848 790 5.7% 5.4% 1,365 53.4 1,131 1,209 1,213 1,275 25.8 15.6 2.4% 2016 2017 2018 2019 2020 0.7% 1.1% Services Projects 2016 2017 2018 2019 2020 Services share:* Note! 2016: EBITDA excl. restructuring costs; 2017-2020: Adjusted EBITDA. 47.8% 53.1% 55.0% 60.0% 63.3% The same figures have been used for the presentation of the respective margins. Comparative figures for 2018 (or prior periods) have not been * Change in reporting of business unit revenue in 2018 restated according to IFRS 16. 20 Investor Presentation June 2021 Fit for Growth journey: Cash flow back to target level Substantial cash release from working capital. FY 2020 cash conversion 158.5% Working capital Operating cash flow before financial and tax items EUR million EUR million +180.0 EURm 157.6 143.7 -32.3 -30.8 -54.6 21.6 -100.9 -8.7 -129.0 EURm -160.4 -22.4 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 * 2019 figures according to IFRS16 4. Group development Clear profitability improvement in Q1 – Positive start to 2021 22 Investor Presentation June 2021 Operating environment Q1/2021 The corona pandemic continued to affect operations, early signs of improvement in Services Services (65.4% of Group revenue) Revenue breakdown Q1/2021 (Q1/2020) The demand environment remained stable and comparable to the previous ﴿ quarters. Early signs of increased investment activity among Caverion’s customers ﴿ Certain annual industrial shutdowns in Finland postponed from last year will 65.4% ﴿ (63.3%) take place in Q2/2021. 34.6% Projects (34.6% of Group revenue) (36.7%) The pandemic continued to impact productivity to a certain extent, and market ﴿ demand remained on a lower level. The demand for new construction projects on a lower level, however less for renovation construction. Pricing environment remained still tight. Services Projects ﴿ .Stimulus packages did not yet impact general demand during the quarter ﴿ 23 Investor Presentation June 2021 Order backlog development Group order backlog decreased by 8.0% year-on-year,
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