Slide 1: Nilfisk Q1 2020 Interim Report
Nilfisk Q1 2020 Interim Report Webcast presentation
Slide 2: Forward looking statements
Forward looking statements This presentation contains forward-looking statements, including statements regarding Nilfisk’s future operating profit, financial position, inventory, cash flows, strategic priorities as well as plans for the future. Forward-looking statements include, without limitation,
Slide 3: Agenda
Agenda 1 2 3 4 5 Highlights Update on Q1 Financials Outlook Q&A COVID-19 impact 3 Nilfisk Q1 Interim Report 2020
Slide 4: Q1 Highlights: Customer demand dropped significantly mid-March
Q1 Highlights Customer demand dropped significantly mid-March due to COVID-19 impact • Strong focus on safety and on servicing customers in a challenging quarter • Results as expected until mid-March • Drop in customer demand from mid-March led to – Organic growth of -10.3% – EBITDA margin bsi of 11
Slide 5: Q1 Highlights: Focus on managing crisis and post COVID-19 opportunities
Q1 Highlights Focus on managing crisis and preparing for post COVID-19 opportunities • Status as of today – demand remains low with drop in April organic growth of more than 30% • Focus short-term on capacity adjustments and cost – Employees on leave or furlough – Prudent cost management – Focused i
Slide 6: Business update: COVID-19 impact and mitigating actions
Business update COVID-19 impact and mitigating actions DEMAND PRODUCTION SUPPLY • Secured business continuity • All production sites operational • No material impact • Status as essential business • Safety measures implemented • Temporary shortage in Consumer • Digital customer interactions • Employ
Slide 7: In short: Managing the crisis
In short Managing the crisis 1. All production sites have been operational throughout the crisis 2. Commitment to our strategic direction remains unchanged 3. Responding by managing costs and preparing for a restructure 7 Nilfisk Q1 Interim Report 2020
Slide 8: Agenda
Agenda 1 2 3 4 5 Highlights Business Q1 Financials Outlook Q&A update 8 Nilfisk Q1 Interim Report 2020
Slide 9: Income statement
Income statement EUR million Q1 2020 Q1 2019 Change Comments Net sales 219.1 246.6 -27.5 • Total reported revenue down by 27.5 mEUR Reported growth -11.2% -4.2% -7.0% corresponding to reported growth of -11.2% Organic growth -10.3% 1.0% -11.3% – Impact from consumer exit in 2019 from Pacific -1.3% C
Slide 10: EMEA
EMEA Comments • Performance as expected until mid-March • COVID-19 negatively impacted demand in late March, in particular in South (France, Spain and Italy) • Gross margin negatively impacted by lower capacity utilization • Active efforts to reduce overhead costs • EBITDA margin bsi down by 1.8pp m
Slide 11: Americas
Americas Comments • Organic growth negatively impacted by performance in US mainly in industry and strategic accounts • Negative impact on demand from COVID-19 across all Americas markets during late March • Gross margin negatively impacted by lower capacity utilization and US imposed tariffs • Redu
Slide 12: APAC
APAC Comments • China significantly negatively impacted by lower activity due to COVID-19 • Rest of APAC in line with expectations until mid-March, where demand declined significantly • Gross margin improved mainly due to product mix effects • Overhead costs in line with last year • Drop in EBITDA m
Slide 13: Other business units
Other business units Consumer Private label and other • Good performance during Q1 was slightly impacted by • Revenue down by 21.8% in line with expectations supplier constraints in February • Gross margin positively affected by product and • Exit from Pacific region in Q4 2019 negatively impacting
Slide 14: Balance sheet and cash flow
Balance sheet and cash flow EUR million Q1 2020 Q1 2019 Change Comments Inventories 169.4 181.8 -12.4 Trade receivables 172.6 211.5 -38.9 • WC reduced by 33 mEUR mainly due to lower trade receivables caused by reduced revenue Trade payables 107.7 114.2 -6.5 • Lower inventories driven by 2018 divestm
Slide 15: Agenda
Agenda 1 2 3 4 5 Highlights Business Q1 Financials Outlook Q&A update 15 Nilfisk Q1 Interim Report 2020
Slide 16: Financial guidance for 2020 remains suspended
Financial guidance for 2020 remains suspended • 2020 guidance suspended March 19 due to low visibility and high uncertainty caused by COVID-19 • As of today, visibility remains low and the impact of the crisis cannot be accurately assessed • Consequently, the financial guidance for 2020 remains susp
Slide 17: Agenda
Agenda 1 2 3 4 5 Highlights Business Q1 Financials Outlook Q&A update 17 Nilfisk Q1 Interim Report 2020
Slide 18: Q&A
Q&A 18 Nilfisk Q1 Interim Report 2020
Slide 19: Forward-looking statements
Forward-looking statements This presentation and related comments contain forward-looking statements. Such statements are subject to many uncertainties and risks, as various factors, of which several are beyond Nilfisk Holding’s control, may cause that the actual development and results differ mater