Coor Service Management Holding Ab · OMXSTO:COOR
Coor Service Management Holding Ab — FY2018 Earnings Presentation
12 slides from Coor Service Management Holding Ab's earnings presentation, February 2019
Slide 1: Year-end Report January-December 2018
Year-end Report January-December 2018 Mikael Stöhr, President and CEO Olof Stålnacke, CFO and IR Director February, 2019
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) TURNOVER BY COUNTRY 7% • Tailored customer proposition - 18% TOTAL • Soft FM, hard FM and strategic advisory services 9.5 50% bnSEK • Both self-delivery and subcontracting 25% Sweden Norway Denmark Finland
Slide 3: Growth in the Nordics, increased operating profit and a strong cash flow creates room for extra dividend
Growth in the Nordics, increased operating profit and a strong cash flow creates room for extra dividend KEY TARGETS Q4 2018 FY 2018 FY 2017 MID-LONG TERM Organic 9% 10% 6% 4-5% Growth Organic net sales growth over a business cycle Acquired Growth 11% 10% N/A N/A EBITA- ~5.5% Margin 5.2% 5.2% 6.1% A
Slide 4: Business highlights Q4
Business highlights Q4 BUSINESS HIGHLIGHTS Q4 ▪ Large IFM agreements ramp up ‒ Storebrand (Norway) ‒ NKS (Sweden) ▪ Steady stream of small and mid-sized contracts signed in all countries ▪ Strong year for contract extensions ‒ 91% retention rate ‒ ~2,6 bnSEK volumes renegotiated ▪ Acquisitions in De
Slide 5: Country by country
Country by country SWEDEN NORWAY DENMARK FINLAND 50% 25% 18% 7% SHARE OF NET SALES SHARE OF NET SALES SHARE OF NET SALES SHARE OF NET SALES Q4 FY 2018 Q4 FY 2018 Q4 FY 2018 Q4 FY 2018 Organic Growth 4% 6% Organic Growth 16% 15% Organic Growth 14% 18% Organic Growth 20% 19% Acquired Growth n/a n/a Ac
Slide 6: Contract portfolio development
Contract portfolio development FY 2018 CONTRACT PORTFOLIO CHANGES (Contracts >5 MSEK in annual sales) MSEK |6
Slide 7: Profit & Loss Statement
Profit & Loss Statement P&L Q4 FY (SEK m) 2018 2017 Chg. 2018 2017 Chg. Net sales 2 613 2 112 501 9 489 7 722 1 767 Adjusted EBITA 135 125 10 490 468 22 Adjusted EBITA margin 5,2% 5,9% -0,8% 5,2% 6,1% -0,9% EBIT 55 71 -16 219 268 -50 Financial net 5 -7 13 -62 -24 -38 Income tax expense -18 -16 -2 -5
Slide 8: Cash flow – Pro Forma
Cash flow – Pro Forma CASH FLOW FY 2018 Note: Cash Flow adjusted for double salary payment in December 2018 |8
Slide 9: Cash Flow
Cash Flow Q4 FY (SEKm) 2018 2017 Chg. 2018 2017 Chg. Adjusted EBITDA 154 139 15 558 517 41 Capex -24 -27 3 -84 -75 -9 Changes in working capital 188 203 -15 -27 89 -116 Adjusted operating cash flow 317 315 2 447 531 -84 Cash conversion (%) 206% 227% -21% 80% 103% -23% Other operating items -58 -37 -
Slide 10: Balance Sheet
Balance Sheet Dec (SEK m) 2018 2017 Net Working Capital -626 -630 NWC, % of NS (LTM) -6,6% -8,2% Equity/Assets Ratio 33% 40% Cash 435 709 Net debt 1 318 699 Leverage 2,36x 1,39x | 10
Slide 11: Summary 2018
Summary 2018 10% Acquired 23% FY total 10% Organic Growth 10% Organic 23% 10% Acquired Total EBITA 5.2% in Q4 margin 5.2% LTM 80% LTM 80% Cash 97%* conversion 97% LTM (excluding double (incorrect) salary payment) Interesting business Opportunities opportunities across the Nordics | 11
Slide 12: Q&A
Q&A SERVICE with IQ )12
Coor Service Management Holding — FY2018 Earnings Presentation on 6ix