Ostasiatiske Kompagni A/s · OMXCOP:OKEAC
Ostasiatiske Kompagni A/s — Santa Fe Group — Q3 2015 Earnings Presentation
15 slides from Ostasiatiske Kompagni A/s's earnings presentation, Nov 19, 2015
Slide 1: Q3 2015 Results & Full-Year Outlook
Q3 2015 RESULTS & FULL-YEAR OUTLOOK 1 Q3 2015 Presentation, 19 November 2015 We make it easy
Slide 2: Today's Agenda
TODAY’S AGENDA • Q3 highlights • Market trends • EMEA • Asia • Australia CEO CFO Martin Thaysen Christian Møller • Income statement Laursen • Strategy update Disclaimer The outlook for 2015 reflects management’s expectations of future events and must be viewed in the • Full-year outlook context of t
Slide 3: Q3 Highlights
Q3 HIGHLIGHTS Growth rates stated in local currencies • Q3 peak season handled well in EMEA EBITDA before special items and Asia 12 10 • Overall revenue growth of 4% (9% in 8 EUR), subdued by Australia 6 EURm 4 • EUR 11.9m (9.2m) EBITDA result 2 before special items 0 • EUR 2m gain from divestment -
Slide 4: Cash Flow Focus Starts Paying Off
CASH FLOW FOCUS STARTS PAYING OFF Growth rates stated in local currencies • Reduced accounts receivables working capital employed reduced by 38% • Cash flow from operating activities advanced by around EUR 15.0m • Net interest bearing debt down 33% – cash position improved by 77% Working capital C
Slide 5: Growth in All Business Lines in Q3
GROWTH IN ALL BUSINESS LINES IN Q3 Growth rates stated in local currencies • Impact from 2014 contract wins Overall revenue growth • Increased uptake from existing Q3-14 accounts in EMEA and Asia Q4-14 Q1-15 • Challenged markets in Q2-15 Australia, China and Q3-15 Switzerland 0% 5% 10% 15% 20% 25% R
Slide 6: Q3 Performance - EMEA
Q3 PERFORMANCE - EMEA Growth rates stated in local currencies • 9% revenue growth overall • 25% growth in Relocation Services • 7% growth in Moving Services • Benefits from new contracts and higher activity levels from existing customers • Challenging quarter in Switzerland • EBITDA of EUR 6.1m (5.9
Slide 7: Q3 Performance - Asia
Q3 PERFORMANCE - ASIA Growth rates stated in local currencies • 6% revenue growth overall • 6% growth in Relocation Services and 5% growth in Moving Services • Progress in most markets, primarily Singapore, Hong Kong and Indonesia • 20% decline in Chinese market • 10% growth in Records Management As
Slide 8: Q3 Performance - Australia
Q3 PERFORMANCE - AUSTRALIA Growth rates stated in local currencies • 15% revenue decline • General economic slowdown and severe downturn in mining industry • Reduced activity from corporate customers • Price pressure in the consumer business and lower volumes from US partners Australia growth rates
Slide 9: Income Statement
INCOME STATEMENT EURm Q3 2015 Q3 2014 Revenue 114.4 104.9 EBITDA before special items 11.9 9.2 Special items -0.6 -2.1 Reported EBITDA 11.3 7.1 EUR 2m sales gain Depreciation and amortization -2.0 -1.6 from Financials, net 0.8 -4.9 warehouse divestment Income tax -3.2 -2.0 Profit from continuing ope
Slide 10: 2020 Strategy Launched
2020 STRATEGY LAUNCHED • Address immediate challenges to Moving Services effectively • Accelerate growth in higher-margin Relocation Services Fix core • Take advantage of attractive market fundamentals Moving • Move Santa Fe up the value chain DSP Destination • Maximise value creation Services RAMS
Slide 11: Setting Up Santa Fe for Growth
SETTING UP SANTA FE FOR GROWTH • Fix Core Moving Business 2015-16 • Build growth-enabling capabilities; recruit top talent Lay the Foundation • Implement new technologies • Optimize financial and operational processes • Bring strategy to life for employees 2017-2018 • Leverage efficiencies and scale
Slide 12: Focus Areas to "Fix the Core"
FOCUS AREAS TO “FIX THE CORE” 2015 so far What’s next Potential 2020 Working • EUR 10m released from • Tighter credit policy Capital overdue receivables • Improved invoicing processes • Interests/fees introduced Procurement • Global tender for freight • Conclude and implement contracts EUR 5m • Oth
Slide 13: Revised Full-Year Outlook
REVISED FULL-YEAR OUTLOOK 2015 Outlook Comments 2014 Revenue: • Previously: EUR 370m - EUR 390m 338.1m EUR 370m - EUR 380m • Higher activity levels over 2014 • Full impact of 2014 contract wins • Positive developments in Asia and EMEA - challenges in Australia EBITDA before special • Previously: EUR
Slide 14: Questions, Please
QUESTIONS, PLEASE 14 Q3 2015 Presentation, 19 November 2015 We make it easy
Slide 15: Additional Information
ADDITIONAL INFORMATION Martin Thaysen Christian Møller Laursen Jesper Dahlsgaard Group CEO Group CFO Group Finance Director Tel. +44 (0) 20 3691 8300 Tel. +44 (0) 2089 632 514 Tel. +45 3525 4300 Mobile: +44 (0) 7741 312 430 Mobile: +44 (0) 7771 553 623 Mobile: +45 6060 6365 Christian.Laursen@ Martin