Nilfisk Q2 Interim Report 2018: A strong quarter marked by organic growth of 5.8%, unbroken gross margin improvement and a robust operating performance of 12.5%

Company announcement
August 14, 2018
Announcement No. 15


Nilfisk, a leading provider of professional cleaning products and services, is announcing its results for Q2 2018.

Highlights for Q2 2018

  • In Q2 2018, Nilfisk delivered a strong financial performance with organic growth of 5.8% for the total business and a robust operating performance of 12.5%, measured on EBITDA before special items excluding impact from phantom shares
  • Total revenue amounted to 284.5 mEUR driven by a positive development in four out of five operating segments
  • Strong growth rates in EMEA with organic growth of 4.8% and in Specialty Professional and Specialty Consumer with double-digit growth of 18.7% and 14.3% respectively. After a challenging Q1, Americas saw a flat development in organic growth
  • In Q2, the gross margin was 42.8%, up 0.4 percentage point from the previous quarter. This represents an unbroken improvement over the previous quarters, driven by the professional business across all regions, along with a continued positive impact from the cost saving program
  • EBITDA before special items totaled 34.9 mEUR, up 4.4 mEUR from the previous quarter, leading to an EBITDA margin before special items of 12.3% including impact from phantom shares  
  • For the first six months of 2018 total revenue was 542.0 mEUR, leading to a satisfactory organic growth of 3.6% for H1 2018 and an EBITDA margin before special items of 12.1%. Excluding impact from phantom shares, the operating performance for H1 2018 was 11.5%
  • The 2018 outlook is unchanged. Organic growth is expected in the range of 3.0%-4.0% and EBITDA margin before special items is expected in the range of 11.5%-12.0%

CEO comment

Commenting on the results, Hans Henrik Lund, CEO of Nilfisk, says:

“In Q2 we have made solid progress on our strategic objectives to both simplify and grow the company. We demonstrated a strong financial performance with organic growth of 5.8% stemming from positive developments in four out of our five operating segments. Our gross margin is up for the past consecutive quarters, positively impacting our operating performance which is at a strong 12.5 % for the quarter. This leaves us confident in the underlying performance of the business and our full year guidance.”

Conference call

Nilfisk will host a conference call today at 10:00 CET. Please visit to access the call. Presentation materials will be available on the website prior to the conference call.

To dial in
Denmark: +45 3515 8121
UK: +44 (0)330 336 9411
US: +1 929-477-0448

Conference ID: 9279809
Link to webcast:   


Investor Relations
Henrik Mølgaard
Head of Investor Relations
T: +45 2046 4948

Media Relations
Louise Refsgaard Klinge
Global Media Relations
T: +45 2067 0833



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