Nilfisk Holding A/s · OMXCOP:NLFSK
Nilfisk Holding A/s — Q3 2019 Earnings Presentation
13 slides from Nilfisk Holding A/s's earnings presentation, Oct 16, 2019
Slide 1: Preliminary results for Q3 2019 and adjusted full-year guidance for 2019
Preliminary results for Q3 2019 and adjusted full-year guidance for 2019 October 16, 2019
Slide 2: Agenda
Agenda 1 2 3 4 Preliminary Adjusted full- Timing of mid- Q&A results year guidance term targets for 2019 2
Slide 3: Preliminary results for Q3 2019: Highlights
Preliminary results for Q3 2019 Highlights • Q3 organic growth in branded professional of -4.7%, YTD -1.1% • Organic growth for the total business in Q3 of -6.8%, YTD -3.4% • Q3 gross margin of 41.5% • Overhead costs ratio of 34.3%. Cost reductions not enough to compensate for lower revenue • EBITDA
Slide 4: EMEA: Organic growth in Q3 affected by economic conditions
EMEA: Organic growth in Q3 affected by economic conditions Comments • For EMEA organic growth in Q3 was -7.0%, YTD -1.7% • Germany suffering from weakening economic conditions also impacting the rest of EMEA Central region negatively – Q3 organic growth in Germany of -9.9%. Spill-over effect to neig
Slide 5: AMERICAS: Lower organic growth in Q3 than expected
AMERICAS: Lower organic growth in Q3 than expected Comments • For Americas organic growth in Q3 was -1.1%, YTD 0.7% • Negative growth driven by the US high pressure washer business. Headwind in the agriculture segment and bankruptcy of a large dealer • In the remaining US business we continue to exe
Slide 6: APAC: Lower organic growth in Q3 than expected
APAC: Lower organic growth in Q3 than expected Comments • For APAC organic growth in Q3 was -5.4%, YTD -4.3% • Australia not improving as expected • Slowdown of growth in China • Singapore affected by lower marine business 6
Slide 7: Preliminary organic growth rates for Q3 2019
Preliminary organic growth rates for Q3 2019 Organic growth Q3 2019 9M 2019 Comments EMEA -7.0% -1.7% • Negative organic growth of 9.2% in Q3 2019 in the Consumer business in line with expectations Americas -1.1% 0.7% • Private label negatively affected by significantly more APAC -5.4% -4.3% cautiou
Slide 8: Preliminary EBITDA margin before special items
Preliminary EBITDA margin before special items Gross margin Comments + 0.6% • Q3 EBITDA margin before special items of 7.2% 41.5% • Gross margin improvement of 0.6 percentage points 40.9% driven by: – Simplification initiatives: divestments, production consolidation and pruning of product platforms
Slide 9: Basis for adjusted full-year guidance
Basis for adjusted full-year guidance Organic growth EBITDA margin before special items • Further slowdown in the German market with a spillover • Reduction in overhead costs not enough to fully effect to the neighboring countries closely linked to the compensate for the lower than expected revenue
Slide 10: Adjusted full-year guidance
Adjusted full-year guidance Previous guidance Current guidance Status Organic Growth Branded professional Flat organic growth Approximately -3.0% Changed Consumer -10.0% to -15.0% -10.0% to -15.0% Unchanged Private label Flat organic growth -10.0% to -15.0% Changed Total business Approximately -1.0%
Slide 11: Mid-term targets
Mid-term targets Postponed pending improved visibility on economic conditions • Significant divestments, restructurings and investments carried out during 2018 and 2019. We will continue to reduce costs and optimize operations, which will enable margin expansion • Growth is also a prerequisite for r
Slide 12: Nilfisk
12 ONilfisk
Slide 13: 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