Slide 1: Nilfisk Q3 2024 Conference Call Presentation
Nilfisk Q3 2024 CONFERENCE CALL PRESENTATION November 15th, 2024
Slide 2: Forward-looking statements
Not updated for Q3 Forward-looking statements This presentation contains forward-looking statements. Any such statements are subject to risks and uncertainties, and several different factors, of which many are beyond the Group’s control, can mean that the actual development and the actual result wil
Slide 3: Key highlights Q3 2024
Key highlights Q3 2024 3 Q3 2024
Slide 4: Q3 2024: Organic growth in Consumer and Specialty offset by Professional
Q3 2024: Organic growth in Consumer and Specialty offset by Professional • Organic growth in EMEA offset by a demand slowdown in Americas and continued market headwinds in APAC • Business performance in the US was below expectations • EBITDA bsi adversely affected by decreased revenue, partially off
Slide 5: Revenue and EBITDA margin removed from financial targets for 2026
Revenue and EBITDA margin removed from financial targets for 2026 Update to 2026 financial targets • Following a demand slowdown in the Americas, Niflisk revised its outlook for the full year on October 24, 2024 – Organic growth between 1% to 3% – EBITDA margin bsi in the range of 13% to 14% • Finan
Slide 6: High Pressure Washer Business impacted by extreme weather
High Pressure Washer Business impacted by extreme weather Business operations temporarily disrupted, efforts to restore business continuity are ongoing HPW business impacted by Hurricane Milton • High pressure washer business in Fort Pierce, Florida damaged by Hurricane Milton • No employees were in
Slide 7: First sales and shipments of SC25 in EMEA in Q3 2024
First sales and shipments of SC25 in EMEA in Q3 2024 Strengthened product roadmap during 2022 and 2023 showing first results Lead with sustainable products New product update • SC25: New Autonomous solution OEM (available for sale in September) • First sales and shipments in EMEA recorded in Q3 2024
Slide 8: Financial Update
Financial Update 8 Q3 2024
Slide 9: Q3 2024: Specialty and Consumer offset by Professional and Service
Q3 2024: Specialty and Consumer offset by Professional and Service Revenue (mEUR), organic revenue growth (%) Organic growth (%) 247.8 240.6 Revenue Q3 2024 mEUR 2.6 2.9 240.6 -10.2 -2.5 -2.9% revenue growth 247.8 -0.8% O% 240.6 -2.1% -4.3% -1.6% 20.1% 22.0% Q3 2023 OG FX Other Q3 2024 Q3 2023 Profe
Slide 10: Q3 2024: Organic growth in EMEA offset by Americas and APAC
Q3 2024: Organic growth in EMEA offset by Americas and APAC Revenue (mEUR), organic revenue growth (%) -0.8% Organic revenue growth Q3 2024 1.9% Organic revenue growth Q3 2024 excluding temporary SAP impact 278.4 247.8 252.9 259.0 240.6 -10.5% 6.7% -6.0% Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 79.7
Slide 11: Q3 2024: Margin increase driven by continued price management
Q3 2024: Margin increase driven by continued price management Gross profit (mEUR), gross margin (%) 0.2%-points 42.4% 42.4% Gross margin Q3 2024 0.9%-points 0.1%-points 41.2% 117.6 102.2 105.6 108.3 101.9 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q3 2023 Pricing & mix Freight & Volume, labor, Q4 2023
Slide 12: Q3 2024: Slight increase in overhead costs versus Q3 2023
Q3 2024: Slight increase in overhead costs versus Q3 2023 Overhead cost (mEUR), overhead cost ratio (%) Sales and distribution Up 2.7 mEUR from Q3 2023, driven 36.4% primarily by merit increases across the salesforce and increased marketing activities Administration Overhead costs ratio Q3 2024 87.6
Slide 13: Q3 2024: EBITDA margin maintained despite revenue decrease
Q3 2024: EBITDA margin maintained despite revenue decrease EBITDA bsi (mEUR), EBITDA margin bsi (%) 12.6% EBITDA margin bsi Q3 2024 12.6% 12.6% 39.2 35.1 34.2 31.2 30.4 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q3 2023 Pricing & mix Freight & Volume, raw Overhead Q3 2024 12.6% 13.9% 13.2% 14.1% 12.6%
Slide 14: Q3 2024: Continued deleveraging driven by positive free cash flow
Q3 2024: Continued deleveraging driven by positive free cash flow Working capital, CAPEX, cash flow, NIBD (mEUR), and gearing ratio Working capital CAPEX ratio -3.7 mEUR 7.4 0.3 % mEUR Free cash flow Q3 2024 165.6 162.4 171.1 167.4 4.9% 4.4% 139.6 4.3% 4.1% 3.1% 1.9 x Gearing Q3 2024 Q3 2023 Q4 2023
Slide 15: Outlook for 2024
Outlook for 2024 The financial outlook was updated in Company Organic revenue growth announcement No. 22 on 24 October 2024: • Organic revenue growth is expected to be between 1% and 3% 1% to 3% (Previously 3% to 6%) • The EBITDA margin before special items is expected to be between 13% and 14% • CA
Slide 16: Revenue and EBITDA margin removed from financial targets for 2026
Revenue and EBITDA margin removed from financial targets for 2026 Revenue, mEUR 1,200-1,300 Update to 2026 financial targets 1,070 1,034 1-3% 995 • Progress has been achieved under Business Plan 2026 despite business and macroeconomic challenges – Service as a business has grown since 2022 – Leaders
Slide 17: NILFISK
NILFISK NILFISK