13 slides from Coor Service Management Holding Ab's earnings presentation, Nov 4, 2020
Slide 1: Q3 Report July-September 2020
1 Q3 Report July- September 2020 AnnaCarin Grandin, President and CEO Klas Elmberg, CFO and IR Director November 4, 2020
Slide 2: Coor is the Nordic market leader in IFM
Coor is the Nordic market leader in IFM |2 TURNOVER BY COUNTRY • Tailored customer proposition - 7% • Coor aims to create the happiest, healthiest and most prosperous 20% workplace environment in the Nordic Region TOTAL 9.8 51% • Broad service offering within workplace services, property bnSEK servi
Slide 3: Covid-19, Q3 summary
Covid-19, Q3 summary |3 COOR’S NUMBER ONE PRIORITY IS THE HEALTH AND SAFETY OF OUR EMPLOYEES AND OUR CUSTOMERS’ EMPLOYEES ▪ Coor’s service deliveries contribute to maintaining ▪ Cost reductions to minimize negative financial impact critical functions in our community ‒ Furloughs affect 6% of all emp
Slide 4: Constructive engagement with customers and capacity to adapt rapidly yield strong earnings and cash flow
Constructive engagement with customers and capacity |4 to adapt rapidly yield strong earnings and cash flow KEY TARGETS Q3 2020 Q3 2019 LTM MID-LONG TERM Organic -7% 5% -4% 4-5% Growth Organic net sales growth over a business cycle Acquired Growth 2% 0% 2% N/A EBITA- ~5.5% Margin 6.1% 5.1% 5.6% Adju
Slide 5: Business highlights Q3
Business highlights Q3 |5 BUSINESS HIGHLIGHTS Q3 ▪ Covid-19, covered on page 3 ▪ Strong focus on cost reductions, efficiency and the large integrations ‒ Cost reduction (moving from temporary to more permanent solutions) and efficiency focus across the organization. ‒ Norrlands Miljövård (Sweden), I
Slide 6: Well positioned for the future
Well positioned for the future |6 COOR, AS A PROFESSIONAL FM PROVIDER AND MARKET LEADER IN IFM, IS NEEDED AS A PARTNER TO THE BUSINESS AND PUBLIC SECTORS IN THE NORDIC REGION Nordic FM Market, BnSEK ▪ Outsourcing trend continues and historical “crisis” has driven new, large outsourcing deals The Mar
Slide 7: Country by country
Country by country |7 SWEDEN NORWAY DENMARK FINLAND 51% 22% 20% 7% SHARE OF NET SALES SHARE OF NET SALES SHARE OF NET SALES SHARE OF NET SALES Q3 20 Q3 19 Q3 20 Q3 19 Q3 20 Q3 19 Q3 20 Q3 19 Organic Growth -9% 6% Organic Growth -13% 6% Organic Growth 3% 3% Organic Growth -3% -8% Acquired Growth 5% 0
Slide 8: Profit & Loss Statement
Profit & Loss Statement | 8 P&L Q3 YTD LTM FY (SEK m) 2020 2019 Chg. 2020 2019 Chg. Q3 2019 Net sales 2 297 2 490 -193 7 102 7 581 -478 9 835 10 313 Adjusted EBITA 140 127 13 403 398 5 555 549 Adjusted EBITA margin 6,1% 5,1% 1,0% 5,7% 5,2% 0,4% 5,6% 5,3% EBIT 89 70 19 236 224 11 310 299 Financial ne
Slide 9: Cash Flow
Cash Flow |9 CASH FLOW LTM Q3 2020
Slide 10: Cash flow
Cash flow | 10 Q3 LTM FY (SEKm) 2020 2019 Chg. Q3 2019 Chg. Adjusted EBITDA 189 179 10 756 749 7 Capex -11 -12 1 -77 -68 -9 Changes in working capital 125 1 124 254 101 153 Adjusted operating cash flow 303 167 135 933 781 151 Cash conversion (%) 160% 94% 67% 123% 104% 19% Other operating items -30 -
Slide 11: Balance Sheet
Balance Sheet | 11 Sep 30 Dec 31 (SEK m) 2020 2019 2019 Net Working Capital -828 -573 -774 NWC, % of NS (LTM) -8,4% -5,6% -7,5% Equity/Assets Ratio 33% 29% 29% Cash 345 483 497 Net debt 1 372 1 855 1 741 Leverage 1,8x 2,6x 2,3x COOR’S FINANCING ▪ RCF of 1 500 MSEK, unutilized credit facility corresp
Slide 12: Summary Q3
Summary Q3 Total | 12 “Variable volumes impacted by Covid-19 -7% +2% -4% Growth but subscription volumes remain strong” Q3 Org. Q3 Acq. LTM Total EBITA margin “Capacity to adapt rapidly” 6.1% 5.6% Q3 LTM “Strong cash flow focus across the 123% Cash conversion organization” LTM “Interesting opportuni
Slide 13: Q&A
Q&A Coor aims to create the happiest, healthiest and most prosperous workplace environments in the Nordic region. We strive tirelessly to build the teams and full- service solutions that enable our customers to do what they do best.