Coor Service Management Holding Ab · OMXSTO:COOR
Coor Service Management Holding Ab — Q1 2020 Earnings Presentation
12 slides from Coor Service Management Holding Ab's earnings presentation, Apr 28, 2020
Slide 1: Q1 Report January-March 2020
Q1 Report January-March 2020 Mikael Stöhr, President and CEO Klas Elmberg, CFO and IR Director April 28, 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% 19% • Coor aims to create the happiest, healthiest and most TOTAL prosperous workplace environment in the Nordic Region 10 bnSEK 50% • Broad service offering within workplace services, property 24% se
Slide 3: Covid-19, Q1 summary
Covid-19, Q1 summary |3 COOR’S NUMBER ONE PRIORITY IS THE HEALTH AND SAFETY OF OUR EMPLOYEES AND OUR CUSTOMERS’ EMPLOYEES ▪ Coor crisis teams fully mobilized already in February ▪ Cost reductions to minimize negative financial impact ‒ Country organizations crisis teams ‒ Short term lay-offs and ter
Slide 4: Q1 characterized by covid-19 but with continued strong cash-flow
Q1 characterized by covid-19 but with continued |4 strong cash-flow KEY TARGETS Q1 2020 Q1 2019 LTM MID-LONG TERM Organic -2% 10% 2% 4-5% Growth Organic net sales growth over a business cycle Acquired Growth 2% 7% 1% N/A EBITA- ~5.5% Margin 4.8% 5.2% 5.2% Adjusted EBITA margin Cash 114% 108% 114% >9
Slide 5: Business highlights Q1
Business highlights Q1 |5 BUSINESS HIGHLIGHTS Q1 ▪ Covid-19, covered on page 3 ▪ Strong focus on the large integrations and efficiency ‒ Norrlands Miljövård (Sweden) ‒ Danish Police, the Prison and Probation Service and the Public Prosecution Agency (Denmark) ‒ ICA (Sweden) ‒ New Finnish IFM-contrac
Slide 6: Country by country
Country by country |6 SWEDEN NORWAY DENMARK FINLAND 50% 24% 19% 7% SHARE OF NET SALES SHARE OF NET SALES SHARE OF NET SALES SHARE OF NET SALES Q1 20 Q1 19 Q1 20 Q1 19 Q1 20 Q1 19 Q1 20 Q1 19 Organic Growth -2% 7% Organic Growth 0% 9% Organic Growth 4% 20% Organic Growth -15% 13% Acquired Growth 5% 0
Slide 7: Profit & Loss Statement
Profit & Loss Statement | 7 P&L Q1 LTM FY (SEK m) 2020 2019 Chg. Q1 2019 Net sales 2 541 2 535 6 10 319 10 313 Adjusted EBITA 122 131 -9 541 549 Adjusted EBITA margin 4,8% 5,2% -0,4% 5,2% 5,3% EBIT 61 77 -16 283 299 Financial net -17 -21 4 -67 -71 Income tax expense -13 -13 0 -59 -59 Net income 31 4
Slide 8: Cash Flow
Cash Flow |8 CASH FLOW LTM Q1 2020
Slide 9: Cash flow
Cash flow | 9 Q1 LTM FY (SEKm) 2020 2019 Chg. Q1 2019 Adjusted EBITDA 173 177 -5 744 749 Capex -28 -13 -15 -83 -68 Changes in working capital 86 -1 87 188 101 Adjusted operating cash flow 231 164 67 848 781 Cash conversion (%) 134% 92% 41% 114% 104% Other operating items -46 -50 5 -164 -169 Cash flo
Slide 10: Balance Sheet
Balance Sheet | 10 Mar 31 Dec 31 (SEK m) 2020 2019 2019 Net Working Capital -852 -652 -774 NWC, % of NS (LTM) -8,3% -6,6% -7,5% Equity/Assets Ratio 30% 34% 29% Cash 578 351 497 Net debt 1 589 1 535 1 741 Leverage 2,1x 2,2x 2,3x COOR’S FINANCING ▪ RCF of 1 500 MSEK, unutilized credit facility corresp
Slide 11: Summary Q1
Summary Q1 | 11 -2% Organic -2% 2% 9% Growth 2% Acquired Organic Acquired Total 3% LTM total % 4.8% in Q1 12% EBITA margin FY EBITA 5.2% LTM Growth Cash conversion 114% 114% LTM 2020 characterized by covid-19 Opportunities but interesting opportunities in a longer perspective
Slide 12: SERVICE with IQ
Q&A | 12 SERVICE with IQ G& coor
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