Company announcement
November 15, 2017
Announcement No. 6
Nilfisk, a leading provider of professional cleaning products and services, is announcing its Q3 Interim Report 2017.
Highlights
- The 2017 outlook for organic growth is narrowed to 3-4% (from 2-4% previously). The outlook for EBITDA margin before special items in 2017 (11.0-11.5%) is unchanged
- In Q3 2017 Nilfisk realized total revenue of 252.7 mEUR with an organic growth of 3.4% for the total business and 5.6% for the total business excluding the two Specialty segments. Overall organic revenue growth was driven in particular by positive developments in EMEA, a region which posted 10.6% organic growth for the quarter. For the first nine months of 2017, Nilfisk’s total revenue was 801.6 mEUR and organic growth was 3.1%
- EBITDA before special items was 22.6 mEUR in Q3 2017, leading to an expected decline of the EBITDA margin before special items from 10.6% in Q3 2016 to 8.9% in Q3 2017. The decrease was mainly driven by a significant increase in private label sales, higher raw material prices, and higher freight costs. For the first nine months of 2017, EBITDA before special items was 93.5 mEUR and the EBITDA margin before special items was 11.7%
- The roll out of the Accelerate+ cost savings program continued, positively impacting the cost base.
- In Q3 Nilfisk announced a strategic partnership with Blue Ocean Robotics, a specialized technology company that complements Nilfisk’s existing partnerships within robotics
Commenting on the results, Hans Henrik Lund, CEO of Nilfisk, said:
“The performance in Q3 and first nine months of 2017 is in line with our expectations, with satisfactory growth and a continued healthy profitability. The results are solid, with 3.4% organic growth for the total business and 5.6% organic growth for the total business excluding our two Specialty segments. We are especially pleased with the positive development in EMEA, which was fueled by significant private label revenue as well as continued strong performance from our strategic accounts within retail, agriculture and contract cleaning. As expected, the consumer business is experiencing unfavorable organic growth. We are working diligently on stabilizing the revenue for this part of the business.”
The Q3 Interim Report 2017 is released by Nilfisk Holding A/S. However, as Nilfisk Holding A/S was not established at the balance sheet date September 30, 2017, the results are reported by Nilfisk A/S.
Conference call details
Nilfisk will host a conference call at 10:00 CET today. Please visit investor.nilfisk.com to access the conference call. Presentation materials will be available on the website prior to the conference call.
To dial in
Denmark: +45 3832 2869
UK: +44 (0)20 3427 1910
US: +1 646 254 3364
Conference ID: 7883140
Contact
Investor Relations
Henrik Mølgaard
Head of Investor Relations
T: +45 2046 4948
Media Relations
Louise Refsgaard Klinge
Global Media Relations
T: +45 2067 0833
https://www.globenewswire.com/NewsRoom/AttachmentNg/20070351-e17d-4e08-9aa5-b0bc2b6a7e0b
https://www.globenewswire.com/NewsRoom/AttachmentNg/34955c80-0578-47b9-be74-cc157aea4406
