Coor Service Management Holding Ab · OMXSTO:COOR
Coor Service Management Holding Ab — Q2 2020 Earnings Presentation
13 slides from Coor Service Management Holding Ab's earnings presentation, Jul 17, 2020
Slide 1: Q2 Report April-June 2020
Q2 Report April-June 2020 Mikael Stöhr, President and CEO Klas Elmberg, CFO and IR Director July 17, 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 51% • Broad service offering within workplace services, property 23% se
Slide 3: Covid-19, Q2 summary
Covid-19, Q2 summary |3 COOR’S NUMBER ONE PRIORITY IS THE HEALTH AND SAFETY OF OUR EMPLOYEES AND OUR CUSTOMERS’ EMPLOYEES ▪ As of Q2, covid-19 is fully managed in line organization ▪ Cost reductions to minimize negative financial impact ‒ Country organizations crisis teams and Coor Group crisis team
Slide 4: Coor’s customer-centric business model has once again stood strong through turbulent times
Coor’s customer-centric business model has once again |4 stood strong through turbulent times KEY TARGETS Q2 2020 Q2 2019 LTM MID-LONG TERM Organic -11% 5% -2% 4-5% Growth Organic net sales growth over a business cycle Acquired Growth 2% 2% 2% N/A EBITA- ~5.5% Margin 6.2% 5.5% 5.4% Adjusted EBITA ma
Slide 5: Business highlights Q2
Business highlights Q2 |5 BUSINESS HIGHLIGHTS Q2 ▪ Covid-19, covered on page 3 ▪ Strong focus on the large integrations, cost reductions and efficiency ‒ Norrlands Miljövård (Sweden) ‒ Danish Police, the Prison and Probation Service and the Public Prosecution Agency (Denmark) ‒ ICA (Sweden) ‒ OP gro
Slide 6: Country by country
Country by country |6 SWEDEN NORWAY DENMARK FINLAND 51% 23% 19% 7% SHARE OF NET SALES SHARE OF NET SALES SHARE OF NET SALES SHARE OF NET SALES Q2 20 Q2 19 Q2 20 Q2 19 Q2 20 Q2 19 Q2 20 Q2 19 Organic Growth -12% 6% Organic Growth -17% 4% Organic Growth -1% 3% Organic Growth -15% 8% Acquired Growth 5%
Slide 7: Contract Portfolio Development
Contract Portfolio Development |7 H1 2020 CONTRACT PORTFOLIO CHANGES
Slide 8: Profit & Loss Statement
Profit & Loss Statement | 8 P&L Q2 YTD LTM FY (SEK m) 2020 2019 Chg. 2020 2019 Chg. Q2 2019 Net sales 2 265 2 556 -291 4 806 5 091 -285 10 028 10 313 Adjusted EBITA 141 140 2 263 271 -7 542 549 Adjusted EBITA margin 6,2% 5,5% 0,8% 5,5% 5,3% 0,2% 5,4% 5,3% EBIT 86 78 8 147 154 -8 291 299 Financial ne
Slide 9: Cash Flow
Cash Flow |9 CASH FLOW LTM Q2 2020
Slide 10: Cash flow
Cash flow | 10 Q2 LTM FY (SEKm) 2020 2019 Chg. Q2 2019 Chg. Adjusted EBITDA 189 187 2 746 749 -3 Capex -16 -21 5 -78 -68 -10 Changes in working capital -140 -82 -58 130 101 29 Adjusted operating cash flow 33 84 -51 797 781 16 Cash conversion (%) 17% 45% -27% 107% 104% 3% Other operating items -31 -4
Slide 11: Balance Sheet
Balance Sheet | 11 Jun 30 Dec 31 (SEK m) 2020 2019 2019 Net Working Capital -703 -574 -774 NWC, % of NS (LTM) -7,0% -5,7% -7,5% Equity/Assets Ratio 33% 29% 29% Cash 203 391 497 Net debt 1 621 1 891 1 741 Leverage 2,2x 2,7x 2,3x COOR’S FINANCING ▪ RCF of 1 500 MSEK, unutilized credit facility corresp
Slide 12: Summary Q2
Summary Q2 | 12 -11% Organic -11% 2% 9% Growth 2% Acquired Organic Acquired Total 0% LTM total % 6.2% in Q2 12% EBITA margin FY EBITA 5.4% LTM Growth Cash conversion 107% 107% LTM 2020 characterized by covid-19 Opportunities but interesting opportunities in a longer perspective
Slide 13: Q&A
Q&A | 13 SERVICE with IQ @& coor
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