Nilfisk reports solid third quarter

Nilfisk CEO Hans Henrik Lund says Q3 results are in line with the company’s expectations.

Nilfisk has reported a total revenue of €252.7 million euro ($A394 million) in its third quarter interim report for 2017.

Nilfisk’s total revenue was equivalent to a solid organic revenue growth of 3.4 per cent. For the first nine months of 2017, total revenue was €801.6 million euro ($A1249 million) and organic revenue growth was 3.1 per cent.

The EBIDTA margin before special items was 8.9 per cent for third quarter and at a “satisfactory level” of 11.7 per cent for the first nine months of 2017.

Nilfisk CEO Hans Henrik Lund said the performance in first nine months of 2017 was “solid and in line with expectations”.

“We are seeing a satisfactory growth of the business with a 3.4 per cent organic revenue growth for the total business and a continued healthy profitability.”

Lund said organic revenue growth was driven by positive developments in the EMEA region in particular, which posted 10.6 per cent organic revenue growth.

“We are especially pleased with the continued positive development in the EMEA region, which is fueled by significant private label revenue as well as continued strong performance from our strategic accounts within retail, agriculture and contract cleaning.”

The 2017 outlook for organic growth is narrowed to 3 to 4 per cent (from 2 to 4 per cent previously), while the outlook for EBITDA margin before special items in 2017 is unchanged (11.0-11.5 per cent).

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