Nilfisk Reports Financial Results for 2017

Company demonstrates continued solid growth with satisfactory earnings in line with expectations

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Mar 05, 2018, 04:44 ET

BROOKLYN PARK, Minn., March 5, 2018 /PRNewswire/ -- Nilfisk, a leading global provider of professional cleaning products and services, has announced its financial results for 2017. The results demonstrate continued solid growth and satisfactory earnings in line with expectations.

Nilfisk,a global provider of professional cleaning products and services, reports 2017 annual earnings that show solid growth that is in line with expectations.

In 2017, Nilfisk realized total revenue of 1,082 mEUR, representing solid organic growth of 3.7 percent for the total business and 5.4 percent for the professional business, excluding the Specialty segments. Measured on operating performance, the full-year EBITDA margin before special items was a satisfactory 11.4 percent. Including impact from the cost of a phantom share program, the EBITDA margin before special items was 11.1 percent.

Hans Henrik Lund, Nilfisk CEO, said, "2017 was a good year for Nilfisk. We delivered strong growth in our two largest business areas, EMEA (5.9 percent) and Americas (5.7 percent). For the total business, we have shown solid growth and satisfactory earnings in line with our expectations."

According to Lund, 2017 was also a year where Nilfisk made significant progress on its ambition to lead intelligent cleaning and build the cleaning solutions of the future.

"In 2017, we shipped the first units of our autonomous scrubber – the Nilfisk Liberty A50. It is a solution we strongly believe will radically change professional cleaning as we know it. During the year, we also announced two new strategic partnerships within the field of robotics and ramped up our internal capabilities within this field. So, 2018 is going to be a truly exciting year," he said.

For 2018, Nilfisk expects organic growth in the range of 3.0 to 4.0 percent. The EBITDA margin before special items is expected to be in the range of 11.5 to 12.0 percent.

To access Nilfisk's 2017 Annual Report, please visit www.investor.nilfisk.com.

About Nilfisk
Nilfisk is a leading global player within the professional cleaning industry. With more than 110 years of innovation experience, Nilfisk is dedicated to delivering reliable solutions and products of high quality that pave the way for a safer, more productive, and cleaner day for millions of companies and private homes around the world. Nilfisk has its own sales companies in 45 countries, and its products are sold in more than 100 countries. Read more at www.nilfisk.com.