Coor Service Management Holding Ab · OMXSTO:COOR
Coor Service Management Holding Ab — Q2 2019 Earnings Presentation
12 slides from Coor Service Management Holding Ab's earnings presentation, Jul 18, 2019
Slide 1: Q2 Report 2019
Q2 Report 2019 Mikael Stöhr, President and CEO Olof Stålnacke, CFO and IR Director July 18, 2019
Slide 2: Coor is the Nordic market leader in IFM
Coor is the Nordic market leader in IFM • Tailored customer proposition - TURNOVER BY COUNTRY • Workplace services, property services and strategic 7% advisory services 19% TOTAL • Both self-delivery and subcontracting 10 49% bnSEK 25% Sweden Norway Denmark Finland TURNOVER BY CONTRACT TYPE 40% TOTA
Slide 3: Strong development of the contract portfolio with major new contracts and successful renegotiations
Strong development of the contract portfolio with major new contracts and successful renegotiations KEY TARGETS Q2 2019 Q2 2018 LTM MID-LONG TERM Organic 5% 11% 8% 4-5% Growth Organic net sales growth over a business cycle Acquired Growth 2% 11% 8% N/A EBITA- ~5.5% Margin 5.5% 5.8% 5.0% Adjusted EBI
Slide 4: Business highlights Q2
Business highlights Q2 BUSINESS HIGHLIGHTS Q2 Strong development of the contract portfolio ▪ Major new contracts. Strong influx of new contract volumes adding over 300 MSEK net to contract portfolio during first six months of 2019 ‒ Danish Police (DK) ‒ ICA (SW) ‒ Small & mid sized contracts ▪ Succe
Slide 5: Country by country
Country by country SWEDEN NORWAY DENMARK FINLAND 49% 25% 19% 7% SHARE OF NET SALES SHARE OF NET SALES SHARE OF NET SALES SHARE OF NET SALES Q2 19 LTM Q2 19 LTM Q2 19 LTM Q2 19 LTM Organic Growth 6% 5% Organic Growth 4% 11% Organic Growth 3% 13% Organic Growth 8% 14% Acquired Growth n/a n/a Acquired
Slide 6: Contract portfolio development
Contract portfolio development H1 2019 CONTRACT PORTFOLIO CHANGES MSEK 400 350 350 -40 310 300 250 200 150 100 50 0 New contracts awarded (+7) Contracts terminated (-3) Net change (+4) |6
Slide 7: Profit & Loss Statement
Profit & Loss Statement P&L Q2 YTD LTM FY (SEK m) 2019 2018 Chg. 2019 2018 Chg. Q2 2018 Net sales 2 556 2 380 176 5 091 4 507 584 10 073 9 489 Adjusted EBITA 140 138 2 271 253 18 507 490 Adjusted EBITA margin 5,5% 5,8% -0,3% 5,3% 5,6% -0,3% 5,0% 5,2% EBIT 78 70 8 154 127 28 247 219 Financial net -16
Slide 8: Cash Flow
Cash Flow CASH FLOW LTM Q2 2019 |8
Slide 9: Cash flow
Cash flow Q2 LTM FY (SEKm) 2019 2018 Chg. Q2 2018 Adjusted EBITDA 187 155 32 638 558 Capex -21 -28 6 -69 -84 Changes in working capital -82 -27 -55 70 -27 Adjusted operating cash flow 84 100 -17 639 447 Cash conversion (%) 45% 65% -20% 100% 80% Other operating items -45 -49 4 -188 -182 Cash flow fro
Slide 10: Balance Sheet
Balance Sheet June 30 Dec 31 (SEK m) 2019 2018 2018 Net Working Capital -574 -480 -626 NWC, % of NS (LTM) -5,7% -5,7% -6,6% Equity/Assets Ratio 29% 36% 33% Cash 391 270 435 Net debt 1 891 1 451 1 318 Leverage 2,71x 2,69x 2,36x | 10
Slide 11: Summary Q2
Summary Q2 2% 5% organic Acquired 5% Growth 2% acquired Organic 19% 19% LTM total LTM % EBITA 5.5% in Q2 margin 5.0% LTM Cash conversion 100% LTM 100% Interesting business Opportunities opportunities across the Nordics | 11
Slide 12: Q&A
Q&A SERVICE with IQ |12
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