Coor Service Management Holding Ab · OMXSTO:COOR
Coor Service Management Holding Ab — FY2017 Earnings Presentation
13 slides from Coor Service Management Holding Ab's earnings presentation, February 2018
Slide 1: Year-end Report January-December 2017
Year-end Report January-December 2017 Mikael Stöhr, President and CEO Olof Stålnacke, CFO and IR Director February, 2018
Slide 2: Coor is the Nordic market leader in IFM
Coor is the Nordic market leader in IFM • No.1 in Nordic IFM (Integrated Facility Management) TURNOVER BY COUNTRY 7% • Tailored customer proposition - 11% TOTAL • Soft FM, hard FM and strategic advisory services 7,7 58% 24% bnSEK • Both self-delivery and subcontracting Sweden Norway Denmark Finland
Slide 3: A very strong year with scope for an extraordinary dividend
A very strong year with scope for an extraordinary dividend KEY TARGETS Q4 2017 FY 2017 FY 2016 MID-LONG TERM Organic 9% 6% 3% 4-5% Growth Organic net sales growth over a business cycle EBITA- ~5.5% Margin 5.9% 6.1% 6.0% Adjusted EBITA margin Cash >90% Conversion 103% 103% 91% (Adj EBITDA – CAPEX –
Slide 4: Business highlights Q4
Business highlights Q4 BUSINESS HIGHLIGHTS Q4 Large IFM agreements ramp up ‒ ABB (Sweden, Norway, Finland) ‒ NKS (Sweden) Steady stream of new contracts signed in all countries, e.g. ‒ Sokotel (Finland) ‒ Copenhagen Municipality (Denmark) ‒ SMEs in Sweden and Norway, e.g. Bank of Sweden, Ellos,
Slide 5: Delivering on M&A - Acquisitions provide increased geographical reach and synergy effects
Delivering on M&A - Aquisitions provide Coor with an increased geographical reach and significant synergy effects Elite Miljø A/S ACQUIRED • Cleaning, Denmark JAN 10, 2018 • 700 MSEK yearly turnover COOR M&A AGENDA • Family owned business; to be integrated • Cleaning, Property, in Coor DK Food & Bev
Slide 6: Country by country
Country by country SWEDEN NORWAY DENMARK FINLAND 58% 24% 11% 7% SHARE OF NET SALES SHARE OF NET SALES SHARE OF NET SALES SHARE OF NET SALES Q4 FY 2017 Q4 FY 2017 Q4 FY 2017 Q4 FY 2017 Organic Growth 10% 7% Organic Growth 3% 0% Organic Growth 18% 12% Organic Growth 12% 11% EBITA Margin 10,1% 10.1% EB
Slide 7: Contract portfolio development
Contract portfolio development FY 2017 CONTRACT PORTFOLIO CHANGES (Contracts >10 MSEK in annual sales) MSEK |7
Slide 8: Profit & Loss Statement
Profit & Loss Statement P&L Q4 FY (SEK m) 2017 2016 Chg. 2017 2016 Chg. Net sales 2 112 1 956 156 7 722 7 272 451 Adjusted EBITA 125 122 3 468 435 32 Adjusted EBITA margin 5,9% 6,2% -0,3% 6,1% 6,0% 0,1% EBIT 71 73 -2 268 242 27 Financial net -7 -5 -2 -24 -75 51 Income tax expense -16 -18 3 -56 -44 -
Slide 9: Cash flow
Cash flow CASH FLOW FY 2017 MSEK |9
Slide 10: Cash Flow
Cash Flow Q4 FY (SEKm) 2017 2016 Chg. 2017 2016 Chg. Adjusted EBITDA 139 135 4 517 476 41 Capex -27 -22 -5 -75 -71 -4 Changes in working capital 203 106 98 89 29 61 Adjusted operating cash flow 315 218 97 531 434 98 Cash conversion (%) 227% 162% 65% 103% 91% 12% Other operating items -37 -48 11 -112
Slide 11: Balance Sheet
Balance Sheet Dec (SEK m) 2017 2016 Net Working Capital -630 -552 NWC, % of NS (LTM) -8,2% -7,6% Equity/Assets Ratio 40% 44% Cash 709 603 Net debt 699 807 Leverage 1,35x 1,70x | 11
Slide 12: Summary 2017
Summary 2017 6% in 2017 9% Organic Q4 2017 growth 9% in Q4 2017 6% 2017 EBITA 5,9% in Q4 margin 6,1% FY 2017 Cash 103% conversion 103% FY 2017 Interesting business Opportunities opportunities across the Nordics | 12
Slide 13: Q&A
Q&A SERVICE with IQ
Coor Service Management Holding — FY2017 Earnings Presentation on 6ix