Slide 1: Nilfisk Q1 2023 Webcast Presentation
Nilfisk Q1 2023 WEBCAST PRESENTATION May 17, 2023
Slide 2: Forward-looking statements
Forward-looking statements This presentation contains forward-looking statements. Any such statements are subject to risks and uncertainties, and several different factors, of which many are beyond the Group’s control, can mean that the actual development and the actual result will differ significan
Slide 3: Key highlights Q1 / Business Plan 2026 update
Key highlights Q1 Business Plan 2026 update 3 Q1 2023
Slide 4: Q1 2023: In line with company plan, outlook for 2023 confirmed
Q1 2023: In line with company plan, outlook for 2023 confirmed Revenue dynamics 256.4 -2.0 • Large decline in Consumer and Private label part of Professional • Service and Specialty delivered strong growth mEUR % • Branded part of Professional delivered moderate growth Revenue Organic revenue growth
Slide 5: Business Plan 2026 efficiency measures enabling future performance
Business Plan 2026 efficiency measures enabling future performance Structural efficiency planning initiated end-2022 dimensioned to yield substantial OH cost savings Creating integrated regions ISCE to promote our value proposition Process and entity optimization H2 2022: Americas 2022: Establishing
Slide 6: Service at Nilfisk – securing the foundation for future growth
Service at Nilfisk – securing the foundation for future growth Focus on improving delivery and customer experience Annual Service revenue increasing since 2021 Ambition mEUR 2021 2022 Q1 2023 2026 295 294 282 271 294 249 Service (% of revenue) 27% 28% 30% 35% 2017 2018 2019 2020 2021 2022 2026 Contr
Slide 7: Outlook for 2023 / New financial reporting structure
Outlook for 2023 New New financial financial reporting reporting structure structure 7 Q1 2023
Slide 8: New financial reporting structure from Q1 2023
New financial reporting structure from Q1 2023 Future segments • Providing revenue, gross profit and EBITDA by segment. • Professional Business covering all professional machines (floorcare, vacuum cleaners and high-pressure washers) including private label. • Service Business contains a comprehensi
Slide 9: Financials
Financials 9 Q1 2023
Slide 10: Q1 2023 revenue driven by strong Service Business
Q1 2023 revenue driven by strong Service Business Revenue (mEUR), organic revenue growth (%) x = Organic Growth (%) 264.2 256.4 0,8 4,0 mEUR 0,8 -2.0 Revenue -6.3 256.4 237.3 264.2 256.4 mEUR mEUR mEUR -7.1 Q1 2021 Q1 2022 Q1 2023 -39.5% 1.7% % Private Branded part Organic growth label of Profession
Slide 11: Q1 2023 organic growth impacted by slowdown in Europe
Q1 2023 organic growth impacted by slowdown in Europe Revenue (mEUR), organic revenue growth (%) x = Organic Growth (%) -2.0% Organic revenue growth 11.9% 9.3% -2.0% Q1 2021 Q1 2022 Q1 2023 264,3 256,4 237,3 0.0% -4.4% 10.2% 88.8 mEUR 148.8 mEUR 18.8 mEUR Q1 Q1 Q1 Americas region EMEA region APAC re
Slide 12: Gross margin increase from pricing, mix & freight offsetting headwinds
Gross margin increase from pricing, mix & freight offsetting headwinds Gross margin (%) 2.7 %-points 40.2% Gross margin 40,0% 3.0 %-points -5.5 %-points 40,2% 41.6% 40.0% 40.2% Q1 2021 Q1 2022 Q1 2023 40.0% 40.0% 40.2% 39.1% 38.8% Q1 Q2 Q3 Q4 Q1 Q1 Pricing & mix Freight & Volume & Q1 2022 2023 2022
Slide 13: Overhead costs impacted by inflation, BP26 and innovation
Overhead costs impacted by inflation, BP26 and innovation Overhead cost (mEUR), overhead cost ratio (%) 35.1% 35.1% Overhead cost ratio rose to 35.1% Overhead costs came to 89.9 mEUR, an increase of 6.8 mEUR compared to Q1 2022 Overhead cost ratio Sales and distribution Up 5.5 mEUR from Q1 2021, dri
Slide 14: EBITDA bsi supported by GM recovery, headwinds from overhead
EBITDA bsi supported by GM recovery, headwinds from overhead EBITDA bsi (mEUR), EBITDA margin bsi (%) 11.0% EBITDA margin bsi 15.3% 14.2% 11.0% 36.4mEUR 37.6mEUR 28.1mEUR Q1 2021 Q1 2022 Q1 2023 14.2% 11.0% Q1 2022 Pricing Raw materials Volume Overhead Q1 2023 & freight 14 Q1 2023
Slide 15: Significant cash flow improvement yielding substantial NIBD reduction
Significant cash flow improvement yielding substantial NIBD reduction Working capital, CAPEX, cash flow and NIBD (mEUR) and gearing ratio Working capital CAPEX -29.1 +1.4 13.1 226,6 6,6 2.4 197,5 5,2 152,6 2,9 mEUR x Q1 2021 Q1 2022 Q1 2023 Q1 2021 Q1 2022 Q1 2023 Free cash flow Gearing 9.2 -22.7 13
Slide 16: Outlook for 2023
Outlook for 2023 16 Q1 2023
Slide 17: Outlook for 2023 confirmed
Outlook for 2023 confirmed We expect that the current macro-economic uncertainty will continue into 2023, leading to some volume decline, particularly in the European market. -2% to 2% • The range for organic revenue growth is expected to be -2% to 2%. This is supported by full-year effects of prici
Slide 18: Q&A session
Q&A session 18 Q1 2023