Eezy Oyj · OMXHEX:EEZY
Eezy Oyj — VMP — Q3 2018 Earnings Presentation
14 slides from Eezy Oyj's earnings presentation, Nov 21, 2018
Slide 1: VMP Plc Interim Report January–September 2018
VMP Plc Interim Report January–September 2018 November 21, 2018 Juha Pesola, CEO Jarmo Korhonen, CFO
Slide 2: Content
Content 1. VMP’s Q3/2018 in brief Juha Pesola CEO 2. Financial development 3. Outlook and financial objectives Jarmo Korhonen CFO 2 November 21, 2018 VMP Plc Q3/2018
Slide 3: VMP's vision
VMP’s vision is to help both employers and employees succeed in the changing world of work.
Slide 4: Profitable growth continues
Profitable growth continues Revenue by service area • The Group’s revenue was EUR 31.1 million (EUR 27.7 million in July–September 2017). Revenue 7% Recruitment increased by 12.3%. and organizational • Revenue increased by 17.3% in January–September. development services • The Group’s adjusted EBITD
Slide 5: Revenue and adjusted EBITDA
Revenue and adjusted EBITDA Revenue (EUR million) Adjusted EBITDA (EUR million) EUR million EUR million 100 +17.3% 9,0 8,0 +17.8% 80 7,0 6,0 60 +12.3% 5,0 -6.0% 91,6 4,0 7,8 40 78,1 3,0 6,6 2,0 20 3,0 2,8 27,7 31,1 1,0 0,0 0 Q3 Q1-Q3 Q3 Q1-Q3 2017 2018 2017 2018 • Organic growth was 3.8% in
Slide 6: Market review
Market review The size of HR service market in Finland, 2017 (EUR million), management’s estimate ~130 ~2,200 • Consolidation of the HR industry ~130 ~1,900 • Workforce availability challenges in customer companies • Demographic changes in Finland • The growth service project relating to the social
Slide 7: Financial development
Financial development Jarmo Korhonen, CFO
Slide 8: Key figures
Key figures EUR million 7–9/2018 7–9/2017 Change % 1–9/2018 1–9/2017 Change % 2017 Revenue 31.1 27.7 12.3% 91.6 78.1 17.3% 109.5 Adjusted EBITDA 2.8 3.0 -6.0% 7.8 6.6 17.8% 9.3 Adjusted EBITDA margin, % 8.9% 10.7% - 8.5% 8.5% - 8.5% EBITDA 2.8 3.0 -6.0% 7.2 6.6 9.6% 9.3 Earnings per share, EUR 0.04
Slide 9: Financial standing and cash flow
Financial standing and cash flow • Operative free cash flow and cash conversion Operative free cash flow and cash conversion increased in Q3. EUR million 6,0 100% • Equity ratio stood at 59.2% (18.4%). • Net debt on September 30, 2018 amounted to 5,0 81,0% 75% EUR 10.1 million (10.2). 4,0 60,6% 54,4
Slide 10: VMP's 10 largest shareholders
VMP’s 10 largest shareholders Shareholder Number of shares % of shares On October 31, 2018 1. Sentica Buyout V Ky 5,523,072 37.32 2. Meissa-Capital Oy 2,852,307 19.27 3. Ilmarinen Mutual Pension Insurance Company 450,000 3.04 4. Odin Finland 397,000 2.68 5. Sijoitusrahasto Taaleritehdas Mikro Markka
Slide 11: Outlook for 2018 (unchanged)
Outlook for 2018 (unchanged) VMP expects adjusted EBITDA to grow clearly during the financial period ending December 31, 2018 compared to the financial period ended December 31, 2017.
Slide 12: Long-term financial objectives
Long-term financial objectives GROWTH PROFITABILITY LEVERAGE DIVIDEND POLICY Revenue growth exceeding 10% 10 percent adjusted EBITDA 1.5 X Net debt / adjusted EBITDA 30-50% The goal is to pay out 30–50 market growth. margin. ratio of 1.5x. percent of the annual net result adjusted with amortization
Slide 13: Questions?
Questions?
Slide 14: Thank you!
Thank you! Juha Pesola, CEO juha.pesola@vmp.fi Jarmo Korhonen, CFO jarmo.korhonen@vmp.fi