TRESU Q3 2023 Financial Report
Backdrop: The TRESU journey so far
Revenue
(DKKm)
TRESU
'16-'18: large unprofitable capital sales expansion
Entered US folding carton segment with new large
printer, but losses from poor project control & post-
delivery issues
Unfocused and unprofitable growth in digital
solutions offering
637
.
'19-'21: Return to profitable core through COVID-19
Return to profitable core with right-sizing, project
control, and supply chain optimizations
Strengthened Board of Directors
Managed top and bottom-line through COVID-19
induced supply chain disruptions
.
•
'22-'23: Challenges in capital sales
Supply chain related disruptions,
inflation and large cost overruns
on old, non-core projects driving
losses
Good momentum in Customer
Care and System Sales with 8%
and 9% CAGR ('20 to Q3-2023),
respectively
Modularization & standardization
New CEO, CFO and CTO appointed
432
389
359
379
338
341
300
63
82
84
65
111
121
126
99
136
167
156
169
FY2016¹
FY20171
FY2018
FY2019
FY2020
FY2021
FY2022
LTM Q3-23
53 (12%)²
109 (17%) 2
-139 (-41%)
22 (6%)
32 (11%)
20 (6%)
-7 (-2%)
-12 (-3%)
Altor entry
Machines & Units
Customer care
Systems
Adj. EBITDA, IFRS (margin)
Notes: All numbers in DKKm 1. Sep-YE 2. DK-GAAP based numbers, so not fully comparable to rest of period; Source: Company monthly reports
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