12 slides from Coor Service Management Holding Ab's earnings presentation, May 2019
Slide 1: Q1 Report 2019
Q1 Report 2019 Mikael Stöhr, President and CEO Olof Stålnacke, CFO and IR Director May, 2019
Slide 2: Coor is the Nordic market leader in IFM
Coor is the Nordic market leader in IFM • Tailored customer proposition - TURNOVER BY COUNTRY 7% • Workplace services, property services and strategic 19% advisory services TOTAL • Both self-delivery and subcontracting 9.9 49% bnSEK 25% Sweden Norway Denmark Finland TURNOVER BY CONTRACT TYPE TURNOVE
Slide 3: The year starts strong with growth in all dimensions
The year starts strong with growth in all dimensions – turnover, result and cash flow KEY TARGETS Q1 2019 Q1 2018 LTM MID-LONG TERM Organic 10% 10% 10% 4-5% Growth Organic net sales growth over a business cycle Acquired Growth 7% 4% 10% N/A EBITA- ~5.5% Margin 5.2% 5.4% 5.1% Adjusted EBITA margin Ca
Slide 4: Business highlights Q1
Business highlights Q1 BUSINESS HIGHLIGHTS Q1 ▪ Large IFM agreements ramp up ‒ Storebrand (Norway) ‒ NKS (Sweden) ▪ Extension and significant expansion of IFM contract with Danish Police ▪ Steady stream of small and mid-sized contracts signed in all countries ▪ Successful refinancing completed – Bon
Slide 5: Country by country
Country by country SWEDEN NORWAY DENMARK FINLAND 49% 25% 19% 7% SHARE OF NET SALES SHARE OF NET SALES SHARE OF NET SALES SHARE OF NET SALES Q1 19 LTM Q1 19 LTM Q1 19 LTM Q1 19 LTM Organic Growth 7% 6% Organic Growth 9% 14% Organic Growth 20% 20% Organic Growth 13% 16% Acquired Growth n/a n/a Acquire
Slide 6: Profit & Loss Statement
Profit & Loss Statement P&L Q1 LTM FY (SEK m) 2019 2018 Chg. Q1 2018 Net sales 2 535 2 127 407 9 896 9 489 Adjusted EBITA 131 115 16 505 490 Adjusted EBITA margin 5,2% 5,4% -0,2% 5,1% 5,2% EBIT 77 57 20 239 219 Financial net -21 -33 12 -50 -62 Income tax expense -13 -7 -6 -59 -53 Net income 43 17 25
Slide 7: Cash flow
Cash flow CASH FLOW LTM Q1 2019 |7
Slide 8: Cash Flow
Cash Flow Q1 LTM FY (SEKm) 2019 2018 Chg. Q1 2018 Adjusted EBITDA 177 130 47 605 558 Capex -13 -22 9 -75 -84 Changes in working capital -1 -153 153 126 -27 Adjusted operating cash flow 164 -45 209 656 447 Cash conversion (%) 92% -35% 127% 108% 80% Other operating items -50 -39 -11 -192 -182 Cash flo
Slide 9: Balance Sheet
Balance Sheet March Dec (SEK m) 2019 2018 2018 Net Working Capital -652 -500 -626 NWC, % of NS (LTM) -6,6% -6,3% -6,6% Equity/Assets Ratio 34% 40% 33% Cash 351 293 435 Net debt 1 535 1 119 1 318 Leverage 2,21x 2,18x 2,36x | 9
Slide 10: P&L Impact IFRS 16
P&L Impact IFRS 16 LTM Q1 19 PF Effects LTM Q1 2019 Reported IFRS Proforma Adjusted EBITA 505 4 510 Depreciation 100 85 185 Adjusted EBITDA 605 89 695 Net Financials -50 -8 -58 Profit before tax 188 -4 185 Tax -59 1 -58 Net Profit 129 -3 127 | 10
Slide 11: Summary Q1 2019
Summary Q1 2019 1 19% Total Growth 2 14% EBITA Growth BILD IN 3 108% Cash conversion 4 Interesting business opportunities across the Nordics | 11
Slide 12: Q&A
Q&A SERVICE with IQ )12