GlobeNewswire by notified

Nilfisk reports Q3 2022 results: Revenue of 263.0 mEUR, corresponding to organic growth of 5.4% driven by 10.8% organic growth in Branded Professional


Nilfisk, a leading global provider of professional cleaning products and services, reported its Q3 2022 results today. Commenting on the results, Torsten Türling, CEO of Nilfisk said:

“In Q3, Nilfisk managed to continue a positive development from the first two quarters of 2022, despite the current global economic slowdown.

Growth was driven by Branded Professional in all regions and performance was especially strong in the Americas region. This was achieved despite continued manufacturing constraints, particularly in our main US facility. Our Q3 results were also supported by a healthy demand increase in the Asia Pacific region. In Europe, higher revenue from Branded Professional largely stemmed from pricing actions.

Global supply chain challenges continued to constrain growth, but to a lesser extent than in the first half of 2022. Challenges were limited to fewer products and production sites. Demand remained solid for our Professional Business and the order book was marginally higher end-Q3 than in Q2 2022.”

Q3 2022 results

• Revenue amounted to 263 mEUR, corresponding to reported growth of 9.9% from Q3 2021. Organic revenue growth was 5.4%.

• Growth was driven by Branded Professional across regions, while Consumer and Private Label slowed notably in line with their respective markets.

• The gross margin was 39.1% in Q3, compared to 40.7% in Q3 2021. The margin was temporarily challenged by lower capacity utilization and by continued parts availability issues following the US Distribution Center destruction.

• Increased inflationary pressures from raw materials and continued high freight rates were to a large extent offset by determined pricing actions. Overall, the margin level improved over the course of the quarter, and we expect this to carry through into Q4 2022.

• EBITDA before special items decreased by 5.3 mEUR compared to Q3 2021 and came to 29.2 mEUR in the quarter, corresponding to an EBITDA margin before special items of 11.1% compared to 14.4% in Q3 2021.

• Overhead cost landed at 89.1 mEUR in Q3, up 11.7 mEUR versus Q3 2021. The increase included foreign exchange rates effects of 3.6 mEUR; incremental freight costs for outbound deliveries in Americas compared to Q2 2022; and project costs for future material costs savings and modular architecture.

• Total R&D spend increased by 1.5 mEUR compared to Q3 2021 and came to 7.9 mEUR, corresponding to 3.0% of revenue compared to 2.6% in Q3 2021. Investments in strategic R&D projects continued.

• Special items amounted to 3.0 mEUR compared to 0.5 mEUR in Q3 2021. Special items were mainly legal and advisory costs incurred regarding strategic projects such as Business Plan 2026 as well as the ongoing liquidation of Nilfisk Russia.

• Cash flow from operating activities for Q3 2022 amounted to a net inflow of 24.8 mEUR compared to a net inflow of 19.1 mEUR in Q3 2021. The positive development compared to Q3 2021 was driven by changes in working capital and higher financial income.

Key figures

mEUR    Q3 2022       Q3 2021   
Revenue 263.0 239.2
Organic growth 5.4% 17.9%
Gross margin 39.1% 40.7%
Overhead cost ratio 33.9% 32.4%
EBITDA before special items 29.2 34.5
EBITDA margin before special items                11.1% 14.4%
CAPEX ratio 2.2% 1.8%
Free cash flow 17.7 14.6
Financial gearing 2.7 2.4

Outlook for 2022

Full year 2022 outlook was revised on October 26, 2022, with company announcement no. 15/2022.

Based on the first nine months of 2022 and given current visibility, we now expect organic revenue growth of 4.5% to 6.5% (previously 4% to 7%) and an EBITDA margin before special items of around 13% for the full year of 2022 (previously 13.5% to 15.5%).

   9M 2022 results      New FY 2022 outlook      Previous FY 2022 outlook*   
Organic revenue growth 5.8% 4.5% to 6.5% 4 to 7%
EBITDA margin before special items                  12.7% Around 13% 13.5 to 15.5%

*Outlook given with Annual Report 2021

Conference call

Nilfisk will host a conference call today at 9:00 am CET. Presentation materials will be available on the website prior to the conference call.
Please pre-register no later than 8:55 for the call using the link below:

The video will be available for viewing after the event along with the presentation from the day on:


Investors Media
Elisabeth Klintholm
Head of Investor Relations

T: +45 2555 6337
Allan Jørgensen
Head of Media Relations

T: +45 2849 4465

Forward-looking statements

Statements made about the future in this report reflect the Executive Management Board’s current expectations with regard to future events and financial results. Statements about the future are by their nature subject to uncertainty, and the results achieved may therefore differ from the expectations, due to economic and financial market developments, legislative and regulatory changes in markets that the Nilfisk Group operates in, development in product demand, competitive conditions, energy and raw material prices, and other risk factors. Nilfisk Holding A/S disclaims any liability to update or adjust statements about the future or the possible reasons for differences between actual and anticipated results except where required by legislation or other regulations.


To view this piece of content from, please give your consent at the top of this page.
To view this piece of content from, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

Ministry of Industry and Mineral Resources Announces Details of Third Edition of Future Minerals Forum11.12.2023 19:36:14 CET | Press release

RIYADH, Saudi Arabia, Dec. 11, 2023 (GLOBE NEWSWIRE) -- At a press conference today, the Ministry of Industry and Mineral Resources (MIM) announced details of the third edition of the Future Minerals Forum (FMF), to be held in Riyadh 9th-11th January at the King Abdulaziz International Conference Center. Speaking at the conference, H.E. the Vice Minister for Mining Affairs, Khalid Al-Mudaifer, looked forward to further achievements delivered by the Ministerial Roundtable and FMF 2024. In previous editions, both platforms have seen participation from ministers and a leading group of international speakers to address issues and turn talk into action. The Vice Minister discussed the unique role of the FMF in hosting the only Ministerial Roundtable of its kind in the industry. He said: "We have succeeded in making this meeting a strategic and influential platform led by governments, providing a voice for many countries and official organizations." Over 70 countries will be represented by g

Mendus presenterar positiva överlevnadsdata från fas 2-studien ADVANCE II som utvärderar vididencel som underhållsbehandling vid AML vid ASH-konferensen11.12.2023 19:30:00 CET | Pressemelding

Pressmeddelande Stockholm, 11 december 2023 Per den 24 november 2023 var återfallsfri medianöverlevnad (mRFS) 30,4 månader Medianen för totalöverlevnad (mOS) hade inte ännu inte uppnåtts, med majoriteten av patienterna (14/20) fortfarande i livet Minskning av mätbar av mätbar restsjukdom (MRD) och induktion av immunsvar korrelerar med fördelar för RFS och OS, vilket bekräftar vididencels verkningsmekanism Virtuellt Key Opinion Leader-event (KOL) med huvudprövare för att diskutera nya ASH-data torsdagen den 14 december 2023 kl. 15.00 CET, anmäl här Mendus AB (“Mendus” publ; IMMU. ST), ett biofarmabolag med fokus på immunterapier riktade mot tumöråterfall, presenterade idag positiva uppdaterade överlevnadsdata från fas 2-studien ADVANCE II som utvärderar vididencel (DCP-001) vid akut myeloid leukemi (AML), vid konferensen American Society of Hematology’s Annual Meeting (ASH 2023). Data från långtidsuppföljningen visade varaktiga behandlingssvar med överlevnadsnytta som överstiger histori

Mendus announces positive survival data from Phase 2 ADVANCE II trial evaluating vididencel as maintenance therapy for AML at ASH 202311.12.2023 19:30:00 CET | Press release

Press Release Stockholm, Sweden, December 11, 2023 As of November 24, 2023, median relapse-free survival (mRFS) stood at 30.4 months Median overall survival (mOS) was not reached, with the majority of patients (14/20) still alive Reduction in measurable residual disease (MRD) and induction of immune responses correlate with RFS and OS benefit, confirming vididencel mechanism of action Virtual KOL event with principal investigator to discuss new ASH data on Thursday, December 14, 2023, at 9.00 am ET/3.00 pm CET; register HERE Mendus AB (“Mendus” publ; IMMU.ST), a biopharmaceutical company focused on immunotherapies addressing tumor recurrence, today announced positive updated survival data from the Phase 2 ADVANCE II trial evaluating vididencel (DCP-001) in acute myeloid leukemia (AML) at the American Society of Hematology’s 65th Annual Meeting (ASH 2023). The longer-term follow up data showed durable treatment responses with survival benefit exceeding historical results expected from t

Harbert Management Corporation included in 2023 Pensions & Investments Best Places to Work in Money Management11.12.2023 19:28:04 CET | Press release

BIRMINGHAM, Ala., Dec. 11, 2023 (GLOBE NEWSWIRE) -- Harbert Management Corporation (“HMC”) has been voted one of the Best Places to Work in Money Management for the fifth year in a row. Presented by Pensions & Investments, the global news source of money management and institutional investing, the 12th annual survey and recognition program is dedicated to identifying and recognizing the best employers in the money management industry. HMC prides itself on its history of managing the firm and investment strategies with the utmost integrity. For 30 years HMC has been devoted to investing capital in a responsible manner. We are committed to corporate social responsibility and engaging our employees and stakeholders to pursue opportunities that make positive and long-lasting impacts. Investment excellence, transparency with our clients, and exemplary Fund Administration are the hallmarks of HMC’s commitment to investors. “Pensions & Investments is proud to honor the Best Places to Work in

Holding(s) in Company11.12.2023 18:11:50 CET | Press release

TORONTO, Canada, Dec. 11, 2023 (GLOBE NEWSWIRE) -- TR-1: Standard form for notification of major holdings NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:Amaroq Minerals Ltd.1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate)Non-UK issuerX2. Reason for the notification (please mark the appropriate box or boxes with an “X”)An acquisition or disposal of voting rightsXAn acquisition or disposal of financial instrumentsAn event changing the breakdown of voting rightsOther (please specify):3. Details of person subject to the notification obligationNameAkta sjóðir hf., an alternative investment fund manager and a UCITC management company, acting on behalf of funds operated by the company.City and country of registered office (if applicable)Reykjavík, Iceland4. Full name of sha