Today, ABGSC had the pleasure of hosting CFO, Martin Solberg, at our Investor Day seminar. During the presentation, we learned that MTHH currently does not have any direct exposure to the Russia/Ukraine conflict, while continuing to see solid progress in its current projects, which are executing according to plan. The CFO furthermore confirmed that the supply chain is a key focus area, and that MTHH has been able to navigate volatile prices, by locking into fixed prices as early as possible, when entering new contracts.
Trend of ~DKK 2.5bn quarterly order intake, likely to continue
At the end of FY’21, MTHH had a very strong orderbook of DKK 10.8bn (up from ~ DKK 8bn at the end of FY’20). This strong order intake trend is expected to continue into FY’22, supported by ~DKK 4bn of orders awarded (~50% related to big job for DSB, providing strong orderbook confidence), but not yet registered in the orderbook, as the final contracts are yet to be signed. This strong orderbook increase has also been reflected in revenues, which grew +25% in FY’21 (well above the estimated market growth of 7-8%), showing the market that MTHH’s strategy is yielding the intended results.
Strong orderbook allows for long-term strategic planning
With the current strategy (Sustainable 2022) coming to an end in FY’22, the CFO confirmed that MTHH is now in a much stronger position, heading into a new strategic phase covering FY’23-25, than it was in FY’19 when it was heading into the “Sustainable 2022” strategy. In concrete terms, the company is now in a position to make more long-term strategic decisions, supported by the strong orderbook, compared to in FY’19, when the company was focused on the short term.
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