Ostasiatiske Kompagni A/s · OMXCOP:OKEAC
Ostasiatiske Kompagni A/s — Santa Fe Group — Q2 2015 Earnings Presentation
14 slides from Ostasiatiske Kompagni A/s's earnings presentation, Aug 20, 2015
Slide 1: Q2 2015 Results & Full-Year Outlook
Q2 2015 RESULTS & FULL-YEAR OUTLOOK 1 Q2 2015 Presentation, 20 August 2015 We make it easy
Slide 2: Today's Agenda
TODAY’S AGENDA • Strategic update • Growth • Cash flow • Margins • Market trends CEO CFO • EMEA Martin Thaysen Christian Møller • Asia Laursen • Australia Disclaimer • Income statement The outlook for 2015 reflects management’s expectations of future events and must be viewed in the context of the b
Slide 3: Strategic Update
STRATEGIC UPDATE Growth rates stated in local currencies GROWTH • Progress in two of three Market share gains strategic focus areas: New contracts • Growth sustained at 9% Broader offering • 34% reduction of working Direct consumers capital; cash flow improved • Key challenge remains unacceptable lo
Slide 4: Solid Growth in Low-Season Quarter
SOLID GROWTH IN LOW-SEASON QUARTER Growth rates stated in local currencies • Growth in all business lines Overall revenue growth • Impact from contract wins Q2-14 Q3-14 • Increased uptake from existing Q4-14 accounts in EMEA and Asia Q1-15 • Higher number of RFP’s Q2-15 0% 5% 10% 15% 20% 25% Relocat
Slide 5: Improved Cash Position
IMPROVED CASH POSITION Growth rates stated in local currencies • Strengthened focus on working capital and cash flow management • Overdue trade receivables down to <30% of total receivables (~50% at year-end) • 34% reduction in working capital employed Working capital Cash flow Cash employed from op
Slide 6: Poor Margins in Moving Services
POOR MARGINS IN MOVING SERVICES • Moving Services margins squeezed • Downturn in Australia and China • Currencies inflate OPEX in EMEA • Cost base geared for peak season • Changes in product mix • New COO to add impetus to procurement, costs, processes and efficiencies EBITDA before special items 10
Slide 7: Performance in Geographies
PERFORMANCE IN GEOGRAPHIES Growth rates stated in local currencies EMEA ASIA 19% 6% 18% EMEA 52% Asia AUS 30% -10% Australia 7 Q2 2015 Presentation, 20 August 2015 We make it easy
Slide 8: Q2 Performance - EMEA
Q2 PERFORMANCE - EMEA Growth rates stated in local currencies • 19% revenue growth overall • 13% growth in Moving Services and 50% growth in Relocation Services • Rebound in the UK • New contracts and uplift in demand from existing corporate customers • EBITDA down to € -1.0m (€ 0.5m) EMEA growth ra
Slide 9: Q2 Performance - Asia
Q2 PERFORMANCE - ASIA Growth rates stated in local currencies • 6% revenue growth overall • 5% growth in Moving Services and 6% growth in Relocation Services • Growth in most markets including impact from one-off projects • 20% decline in Chinese market for international relocations Asia growth rate
Slide 10: Q2 Performance - Australia
Q2 PERFORMANCE - AUSTRALIA Growth rates stated in local currencies • 10% revenue decline overall • 11% decrease in Moving Services • General economic slowdown and severe downturn in mining industry • 40% growth in emerging Relocation Services operation Australia growth rates • EBITDA decreased to €
Slide 11: Q2 Income Statement
Q2 INCOME STATEMENT EURm Q2 2014 Q2 2015 19% Revenue 72.0 85.8 growth in EUR, 9% EBITDA before special items 2.2 0.0 in local Special items, net -0.4 -0.3 currencies EBITDA 1.8 -0.3 Financials, net -0.1 -1.6 Corporate office & Share of profit in associates 0.1 0.4 mgmt. Income tax -0.1 -1.0 change P
Slide 12: Revised Full-Year Outlook
REVISED FULL-YEAR OUTLOOK Revised 2015 Outlook Comments 2014 EUR 370-390m revenue • Previously “modest revenue growth” 338.1m • Currency impact and higher activity levels • Positive development in Asia and EMEA • Challenges in Australia • Full impact of 2014 contract wins EUR 10-12m EBITDA • Previou
Slide 13: Questions, Please
QUESTIONS, PLEASE 13 Q2 2015 Presentation, 20 August 2015 We make it easy
Slide 14: Additional Information
ADDITIONAL INFORMATION Martin Thaysen Christian Møller Laursen Jesper Dahlsgaard Group CEO Group CFO Group Finance Director Tel. +44 (0) 20 3691 8300 Tel. +44 (0) 20 8963 2514 Tel. +45 3525 4300 Mobile: +44 (0) 7741 312 430 Mobile: +44 (0) 7771 553 623 Mobile: +45 6060 6365 Christian.Laursen@ Martin