Nilfisk Q3 Interim Report 2020

Highlights for Q3 2020 Demand continued to pick up month-over-month across all key markets during Q3 with some markets recording positive growth rates at the end of the quarterOverall demand is still at a lower level than usual due to negative impact from COVID-19 and its repercussions on macroeconomic conditions This led to organic growth of -7.3% for the total business, which posted revenue of 202.5 mEUR in Q3 2020. The branded professional business posted organic growth of ‑9...

Nilfisk, 24/11/2020 (informazione.news - comunicati stampa - scienza e tecnologia)

Highlights for Q3 2020

Outlook for 2020

During the first part of Q4 we have seen a continued positive recovery trend in demand across all key markets, and, as a result, a continued positive development in our gross margin due to improved utilization of capacity. In addition, our continued efforts to tightly manage cost combined with a lower structural cost base have a positive impact on our operational leverage, positively impacting our earnings.

However, we have also noted an escalation in the pandemic with renewed lock-down restrictions being introduced in many markets. While we have so far not experienced a material negative impact from this development, uncertainty remains at a higher level than usual.

Based on this, we therefore maintain our current financial guidance but expect our full-year results for 2020 to materialize towards the top end of the range:

CEO comment

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

“We are pleased to see an increase in market activity and demand throughout the quarter, following the heavy impact from the pandemic earlier in the year. We have been fully operational, and our sales representatives and service technicians have continued to support and service customers safely across markets. We saw many key markets return to positive growth rates in September.”

“In parallel, we have continued the execution of our restructuring and have maintained tight cost management, and we have reduced overhead costs by more than 15 million euro compared to last year. These efforts led to improved earnings, both in nominal terms and in relative terms, and we are pleased with our results for Q3 2020”, says Hans Henrik Lund.

Conference call

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

To dial in, please use the following numbers:

Link to webcast: https://streams.eventcdn.net/nilfisk/2020q3/  

Contact

Investor Relations
Jens Bak-Holder
Head of Investor Relations
T: +45 2128 5832  

Media Relations
Steffen Stoevelbaek
Global Media Relations
T: +45 2067 0833

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