12 slides from Coor Service Management Holding Ab's earnings presentation, Jul 18, 2018
Slide 1: Q2 Report 2018
Q2 Report 2018 Mikael Stöhr, President and CEO Olof Stålnacke, CFO and IR Director July 18, 2018
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 - 14% TOTAL • Soft FM, hard FM and strategic advisory services 8.5 55% bnSEK • Both self-delivery and subcontracting 24% Sweden Norway Denmark Finland
Slide 3: Strong organic growth supplemented by acquisitions
Strong organic growth supplemented by acquisitions KEY TARGETS Q2 2018 Q2 2017 LTM MID-LONG TERM Organic 11% 3% 9% 4-5% Growth Organic net sales growth over a business cycle Acquired 11% N/A 4% N/A Growth EBITA- ~5.5% Margin 5.8% 6.1% 5.7% Adjusted EBITA margin Cash >90% Conversion 69% 98% 69% (Adj
Slide 4: Business highlights Q2
Business highlights Q2 BUSINESS HIGHLIGHTS Q2 Continued ramp-up of new and renegotiated contracts ‒ ABB (Sweden, Norway, Finland), NKS (Sweden), Sokotel (Finland), Bergen University (Norway), Copenhagen Municipality (Denmark) New large IFM contract signed with Storebrand in Norway Steady strea
Slide 5: Country by country
Country by country SWEDEN NORWAY DENMARK FINLAND 55% 24% 14% 7% SHARE OF NET SALES SHARE OF NET SALES SHARE OF NET SALES SHARE OF NET SALES Q2 18 LTM Q2 18 LTM Q2 18 LTM Q2 18 LTM Organic Growth 8% 8% Organic Growth 14% 7% Organic Growth 22% 15% Organic Growth 13% 16% Acquired Growth n/a n/a Acquire
Slide 6: Contract portfolio development
Contract portfolio development H1 2018 CONTRACT PORTFOLIO CHANGES MSEK 400 355 -55 350 300 300 250 200 150 100 50 0 New contracts awarded (+18) Contracts terminated (-3) Net change (+15) |6
Slide 7: Profit & Loss Statement
Profit & Loss Statement P&L Q2 YTD LTM FY (SEK m) 2018 2017 Chg. 2018 2017 Chg. Q2 2017 Net sales 2 380 1 900 480 4 507 3 757 750 8 473 7 722 Adjusted EBITA 138 115 22 253 238 14 482 468 Adjusted EBITA margin 5,8% 6,1% -0,3% 5,6% 6,3% -0,7% 5,7% 6,1% EBIT 70 68 2 127 144 -18 251 268 Financial net -2
Slide 8: Cash flow
Cash flow CASH FLOW LTM Q2 2018 1200 +250 -47 1000 -337 800 +327 -383 600 653 460 400 270 200 0 Cash at beginning Operations Interest & Taxes Acquisitions Dividends Cash at end of of period Financing period |8
Slide 9: Cash flow
Cash flow Q2 LTM FY (SEKm) 2018 2017 Chg. Q2 2017 Adjusted EBITDA 155 127 28 540 517 Capex -28 -19 -8 -93 -75 Changes in working capital -27 35 -61 -77 89 Adjusted operating cash flow 100 143 -42 370 531 Cash conversion (%) 65% 112% -47% 69% 103% Other operating items -49 -24 -25 -149 -112 Cash flow
Slide 10: Balance Sheet
Balance Sheet Jun Dec (SEK m) 2018 2017 2017 Net Working Capital -480 -532 -630 NWC, % of NS (LTM) -5,7% -7,1% -8,2% Equity/Assets Ratio 36% 42% 40% Cash 270 460 709 Net debt 1 451 930 699 Leverage 2,69x 1,84x 1,35x | 10
Slide 11: Summary Q2 2018
Summary Q2 2018 11% Acquired 11% organic 11% Net sales Growth 11% acquired 14% LTM 14% LTM total EBITA 5.8% in Q2 margin 5.7% LTM Cash 69% conversion 69% LTM Interesting business Opportunities opportunities across the Nordics | 11
Slide 12: Q&A
Q&A SERVICE with IQ |12