Brief: Nilfisk Holding Expects Continued Volume Decline

Nilfisk Holding A/S

16/11/2023 06:36

Nov 16 (Reuters) - Nilfisk Holding A/S  NLFSK.CO :
    * NILFISK REPORTS Q3 2023 RESULTS: STRONG PROGRESS WITH MOST
BUSINESS METRICS. SERVICE GROWTH INTACT, WHILE SOFT DEMAND
NEGATIVELY IMPACTED PROFESSIONAL LEADING TO AN ORGANIC GROWTH OF
-0.7%. EBITDA MARGIN BSI IMPROVED TO 12.6%.
    * REG-NILFISK REPORTS Q3 2023 RESULTS: STRONG PROGRESS WITH
MOST
BUSINESS METRICS. SERVICE GROWTH INTACT, WHILE SOFT DEMAND
NEGATIVELY IMPACTED PROFESSIONAL LEADING TO AN ORGANIC GROWTH OF
-0.7%. EBITDA MARGIN BSI IMPROVED TO 12.6%.
    * WE ARE NARROWING OUR OUTLOOK FOR FULL YEAR
    * WE HAVE FACTORED IN THAT CURRENT MACROECONOMIC UNCERTAINTY
WILL
CONTINUE FOR REMAINDER OF 2023, LEADING TO CONTINUED VOLUME
DECLINE.
    * EXPECTED ORGANIC REVENUE GROWTH FOR 2023 IS NOW AROUND 0%
(PREVIOUSLY -2% TO 2%).
    * 2023 EBITDA MARGIN BEFORE SPECIAL ITEMS IS EXPECTED TO BE
AROUND
13% (PREVIOUSLY 12% TO 14%).
    * TOPLINE WAS IMPACTED BY SOFT DEMAND, PARTICULARLY FOR
PRODUCTS
IN OUR PROFESSIONAL BUSINESS, PARTLY MITIGATED BY PRICE
DISCIPLINE
    * WE SAW POCKETS OF GROWTH ACROSS BUSINESS, FOR EXAMPLE IN
LATAM
AND AUSTRALASIA, WHILE NORTH AMERICA AND EUROPE WERE IMPACTED BY
DECLINING CUSTOMER DEMAND
    * NILFISK HOLDING A/S - STRATEGICALLY IMPORTANT SERVICE
BUSINESS
CONTINUED ITS GROWTH MOMENTUM
    * CONSUMER BUSINESS IS BACK TO GROWTH, SUPPORTED BY RETURN
OF
UNDERLYING CONSUMER DEMAND

Source text for Eikon:  ID:nGNE10bfxS 
Further company coverage:  NLFSK.CO 

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