Q2 2024 Nilfisk Holding A/S Earnings Call Transcript
Key Points
- Nilfisk Holding A/S (OCSE:NLFSK) reported a total revenue of EUR278 million, representing a reported growth of 0.8% and an organic growth of 2.4%.
- EBITDA before special items increased to EUR39 million, with the EBITDA margin before special items rising to 14.1%.
- The EMEA region delivered strong organic growth of 6.5%, led by the consumer segment.
- Gross margin reached 42.2%, the highest since Q4 2020, benefiting from favorable price management and mix effects.
- Total net interest-bearing debt declined by EUR28.2 million compared to Q2 2023, with gearing reduced to 1.9 times from 2.2 times.
- The specialty business saw a decline in organic growth of minus 2.3%, primarily due to lower demand in APAC and Europe.
- The Americas region experienced a negative organic growth of 1.7%, impacted by muted demand in North America.
- APAC region delivered negative organic growth of 8.7%, affected by market headwinds in China and the Pacific.
- Overhead costs increased by EUR5.5 million compared to Q2 2023, with the overhead cost ratio rising to 33.8% from 32.1%.
- Free cash flow amounted to an inflow of EUR8.4 million, a decrease of EUR31.7 million compared to the prior year period, driven by an increase in working capital.
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Good morning, and welcome to Nilfisk's earnings conference call for the second quarter of 2024. My name is Tracy Fowler, and I'm the Head of Investor Relations here at Nilfisk. To cover Nilfisk Q2 2024 results today, we have our new CEO, Jon Sintorn; and our CFO, Reinhard Mayer, presenting.
For the call today, we will cover the following topics: first, Jon will share his view on why he joined Nilfisk and then give an update on the Q2 2024 numbers. Then, Reinhard will give a more detailed run-through of our financial performance in the quarter. We appreciate that you took the time to listen in on the call this morning. We look forward to taking your questions during the Q&A session at the end of the webcast.
Moving on to slide 2, before we begin today's presentation, please note that this presentation, including remarks from management, may contain forward-looking statements that should not be relied upon as predictions of actual results. For more details, please read the
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