Coor Service Management Holding Ab · OMXSTO:COOR
Coor Service Management Holding Ab — Q1 2016 Earnings Presentation
12 slides from Coor Service Management Holding Ab's earnings presentation, 2016
Slide 1: Q1 Report 2016 Coor Service Management
Q1 Report 2016 Coor Service Management Mikael Stöhr, President and CEO Olof Stålnacke, CFO
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) NET SALES BY COUNTRY 6% 9% • Tailored customer proposition - TOTAL • Soft FM, hard FM and strategic advisory services 7,5 57% 28% bnSEK • Both self-delivery and subcontracting Sweden Norway Denmark Finland
Slide 3: A strong start to 2016
A strong start to 2016 KEY TARGETS Q1 2016 Q4 2015 LTM MID-LONG TERM Organic +3% +6% +6% 4-5% Growth Organic net sales growth over a business cycle EBITA- ~5.5% Margin 6.0% 5.4% 5.1% Adjusted EBITA margin Cash 108% 104% 108% >90% Conversion* (Adj EBITDA – CAPEX – ΔWC) / Adj EBITDA Capital <3.0x stru
Slide 4: Business highlights Q1
Business highlights Q1 BUSINESS HIGHLIGHTS Q1 Important contract extensions ‒ Gjensidige, GE oil & gas, ABB, DNV (Norway) ‒ SSAB (Sweden) ‒ GN (Denmark) Steady stream of new small and midsized contracts e.g. ‒ Veidekke, Red Cross (Norway) ‒ Edlund A/S, Aviatior (Denmark) ‒ Orkla (Sweden) New d
Slide 5: Country by country
Country by country SWEDEN NORWAY DENMARK FINLAND 57% 28% 9% 6% SHARE OF NET SALES SHARE OF NET SALES SHARE OF NET SALES SHARE OF NET SALES Q1 Q1 2015 Q1 Q1 2015 Q1 Q1 2015 Q1 Q1 2015 Organic Growth +7% +2% Organic Growth +11% +108% Organic Growth -22% +17 % Organic Growth -12% -1 % EBITA Margin 11.1
Slide 6: Profit & Loss Statement
Profit & Loss Statement Qi FY (SEKm) 2016 2015 Chg. LTM 2015 Chg. Net sales 1 859 1 848 11 7 494 7 482 12 Adjusted Gross Profit 240 225 15 907 893 15 Gross margin 12,9% 12,2% 0,7% 12,1% 11,9% 0,2% Adjusted EBITA 111 100 11 385 374 11 EBITA margin 6,0% 5,4% 0,6% 5,1% 5,0% 0,1% IACs -3 -5 2 -35 -36 1
Slide 7: Balance Sheet
Balance Sheet ASSETS March Dec EQUITY & LIABILITIES March Dec (SEKm) 2016 2015 2015 (SEKm) 2016 2015 2015 Tangible assets 70 75 71 ~~ Total equity 2784 1188 2733 Intangible assets 3846 4059 3 867 Financial assets 276 11 281 Borrowings 1374 2795 1367 Total non-current assets 4192 4145 4219 Other non-
Slide 8: Cash Flow
Cash Flow Q1 FY (SEKm) 2016 2015 Chg. LT™ Adjusted EBITDA 122 112 10 433 Capex -14 -7 -7 -57 Changes in working capital -105 -129 24 92 Adjusted cash flow from operating activities 2 -24 26 468 Cash conversion (%) 2% -21% 23% 108% IACs and transaction costs incl. Non-P&L 3 5 2 -163 Adjustment for it
Slide 9: LTM P&L – Normalized
LTM P&L – Normalized P&L NORMALIZED FOR: • Transaction costs • Statoil integration cost • Current financing • Tax asset recognition and normal P&L tax rate of ~23% | 9
Slide 10: LTM Cash Flow – Normalized
LTM Cash Flow – Normalized CASH FLOW NORMALIZED FOR: • Transaction costs and IPO related flows • Statoil integration cost • Current financing • Paid tax rate of 8-10% | 10
Slide 11: Summary Q1
Summary Q1 Organic 3% in Q1 Growth 6% LTM Cash 108% LTM 108% Conversion Interesting business Opportunities opportunities across the Nordics | 11
Slide 12: Q&A
Q&A ~ COOR SERVICE &
Coor Service Management — Q1 2016 Earnings Presentation on 6ix