Coor Service Management Holding Ab · OMXSTO:COOR
Coor Service Management Holding Ab — Q3 2018 Earnings Presentation
11 slides from Coor Service Management Holding Ab's earnings presentation, Oct 24, 2018
Slide 1: Q3 Report 2018
Q3 Report 2018 Mikael Stöhr, President and CEO Olof Stålnacke, CFO and IR Director October 24, 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 - 16% TOTAL • Soft FM, hard FM and strategic advisory services 9 53% bnSEK • Both self-delivery and subcontracting 24% Sweden Norway Denmark Finland TU
Slide 3: Continued strong Nordic growth
Continued strong Nordic growth KEY TARGETS Q3 2018 Q3 2017 LTM MID-LONG TERM Organic 10% 7% 10% 4-5% Growth Organic net sales growth over a business cycle Acquired 13% N/A 7% N/A Growth EBITA- ~5.5% Margin 4.3% 5.6% 5.3% Adjusted EBITA margin Cash 82% 85% 82% >90% Conversion (Adj EBITDA – CAPEX – ΔW
Slide 4: Business highlights Q3
Business highlights Q3 BUSINESS HIGHLIGHTS Q3 Important contract prolongations in place ‒ Ericsson ‒ Equinor (formerly Statoil) Start-up of large IFM contract with Storebrand in Norway Steady stream of small and mid-sized contracts signed in all countries, e.g. ‒ Swedavia, Cognizant, Norwegian
Slide 5: Country by country
Country by country SWEDEN NORWAY DENMARK FINLAND 53% 24% 16% 7% SHARE OF NET SALES SHARE OF NET SALES SHARE OF NET SALES SHARE OF NET SALES Q3 18 LTM Q3 18 LTM Q3 18 LTM Q3 18 LTM Organic Growth 4% 7% Organic Growth 17% 12% Organic Growth 24% 19% Organic Growth 17% 16% Acquired Growth n/a n/a Acquir
Slide 6: Profit & Loss Statement
Profit & Loss Statement P&L Q3 YTD LTM FY (SEK m) 2018 2017 Chg. 2018 2017 Chg. Q3 2017 Net sales 2 369 1 853 515 6 876 5 610 1 266 8 988 7 722 Adjusted EBITA 102 104 -2 355 343 12 480 468 Adjusted EBITA margin 4,3% 5,6% -1,3% 5,2% 6,1% -0,9% 5,3% 6,1% EBIT 37 53 -16 164 197 -34 235 268 Financial ne
Slide 7: Cash flow
Cash flow CASH FLOW LTM Q3 2018 |7
Slide 8: Cash flow
Cash flow Q3 LTM FY (SEKm) 2018 2017 Chg. Q3 2017 Adjusted EBITDA 119 116 3 543 517 Capex -10 -17 6 -87 -75 Changes in working capital -35 -100 65 -12 89 Adjusted operating cash flow 74 0 74 444 531 Cash conversion (%) 62% 0% 62% 82% 103% Other operating items -35 -23 -11 -160 -112 Cash flow from op
Slide 9: Balance Sheet
Balance Sheet Sep Dec (SEK m) 2018 2017 2017 Net Working Capital -454 -433 -630 NWC, % of NS (LTM) -5,0% -5,7% -8,2% Equity/Assets Ratio 35% 42% 40% Cash 335 422 709 Net debt 1 516 970 699 Leverage 2,79x 1,92x 1,35x | 9
Slide 10: Summary Q3 2018
Summary Q3 2018 13% Acquired 10% Organic 10% Net sales Growth 13% Acquired 28% Total 28% Total Q3 EBITA 4.3% in Q3 margin 5.3% LTM Cash 82% LTM 82% conversion Interesting business Opportunities opportunities across the Nordics | 10
Slide 11: Q&A
Q&A SERVICE with IQ 11
Coor Service Management Holding — Q3 2018 Earnings Presentation on 6ix