Coor Service Management Holding Ab · OMXSTO:COOR
Coor Service Management Holding Ab — Q2 2015 Earnings Presentation
13 slides from Coor Service Management Holding Ab's earnings presentation, August 2015
Slide 1: Coor Service Management Second Quarter 2015 presentation
Coor Service Management Second Quarter 2015 presentation Mikael Stöhr, President and CEO Olof Stålnacke, CFO August 2015
Slide 2: A second quarter 2015 on track
A second quarter 2015 on track Key targets Q2 Q1 YTD Medium- to long-term Growth +9% +23% +15% 4-5% Organic net sales growth over a business cycle Margin 5.0% 5.4% 5.2% ~5.5% Adjusted EBITA margin Cash 181% -21% 74% >90% conversion (Adj EBITDA – CAPEX – ΔWC) / Adj EBITDA Capital structure 2.8x 6.5x
Slide 3: Business Highlights Q2
Business Highlights Q2 Business highlights Q2 • Extended contract with Ericsson • New IFM contract with Frontica in Norway • Significant start-up activities for contracts awarded in Q1 (Volvo Cars, AB Volvo, Statoil offshore, and others) • Central purchasing project gaining traction • Listed on Nasd
Slide 4: Country by country
Country by country Sweden Norway Denmark Finland Q2 YTD Q2 YTD Q2 YTD Q2 YTD Net Sales Growth -1% +1% Net Sales Growth +44% +72% Net Sales Growth +4% +13% Net Sales Growth -1% +2% EBITA Margin 9,4% 9,9% EBITA Margin 5,1% 5,3% EBITA Margin +1,6% 1,9% EBITA Margin -0,8% -0,8% Growth affected by sing
Slide 5: Contract portfolio development
Contract portfolio development H1 Contract Portfolio Changes* MSEK 505 -160 . 345 Contracts awarded (6) Contracts terminated (5) Net Change (+1) *Changes in the contract portfolio comprise of all contracts with annual sales exceeding SEK 10 million and are reported on a six-monthly basis. For new ag
Slide 6: IPO has created stronger financial platform
IPO has created stronger financial platform • Deleveraging to 2.8x EBITDA • New 5-year term loan in place with substantially lower interest rate – very limited effect in Q2, but fully visible from Q3 • Recognition of full tax asset in Q2, securing lower effective tax rate going forward | 6
Slide 7: Profit & Loss Statement
Profit & Loss Statement Q2 YTD (SEKm ) 2015 2014 Chg. 2015 2014 Chg. Net sales 1 786 1 642 9% 3 634 3 149 15% Gross Profit 224 214 5% 461 421 10% Gross margin 12,5% 13,1% 12,7% 13,4% Selling and administrative expenses -123 -121 2% -249 -236 6% SG&A % of Sales -6,9% -7,4% -6,8% -7,5% Adjusted EBITDA
Slide 8: Items Affecting Comparability
Items Affecting Comparability 2014 2015 (SEKm) FY YTD Integration M&A -6 0 Statoil -54 -5 Other -17 -5 Total integration -76 -10 Total restructuring -11 0 Transaction costs P&L 78 MSEK Other Equity 49 MSEK Cinven monitoring fees -4 -2 Total 126 MSEK Other -2 0 Total other -7 -2 Main components: - Ba
Slide 9: Net Debt and Leverage
Net Debt and Leverage Net Debt Leverage SEK thousands 2763 6,5X 1195 2,8X Q1 Q2 Q1 Q2 | 9
Slide 10: Balance Sheet
Balance Sheet ASSETS June EQUITY & LIABILITIES June (SEKm) 2015 2014 (SEKm) 2015 2014 Tangible assets 74 131 Total equity 2 724 1 528 Intangible assets 3 999 4 475 Financial Assets 292 17 Borrowings 1 402 2 822 Total non-current assets 4 365 4 623 Other non-current-liabilities 65 88 Total non-curren
Slide 11: Cash Flow
Cash Flow Q2 YTD FY (SEKm) 2015 2014 Chg, 2015 2014 Chg, LTM Adjusted EBITDA 101 93 8 213 186 27 430 Capex -13 -10 -4 -21 -14 -7 -39 Changes in working capital 95 -150 244 -34 -227 193 256 Adjusted cash flow from operating activities 182 -66 248 158 -55 213 647 Cash conversion (%) 181% -71% 252% 74%
Slide 12: Q&A
Q&A SERVICE with IQ
Slide 13: Disclaimer
Disclaimer Disclaimer statement Some statements herein are forward-looking and the actual outcome could be materially different. In addition to the factors explicitly commented upon, the actual outcome could be materially affected by other factors, for example the effect of economic conditions, exch
Coor Service Management — Q2 2015 Earnings Presentation on 6ix