Nilfisk has just delivered financial results for the third quarter of 2024, showing revenue of 240.6 mEUR and an EBITDA margin before special items of 12.6%. 

 

The Nilfisk Specialty Business, which produces highly specialized cleaning machines and systems for clients in the pharma and food industries, performed particularly well, with organic growth of 20.1%, while the Nilfisk Consumer Business showed impressive organic growth of 22.0%.

 

“It’s good to see that both our Specialty and Consumer Business – two very different businesses – are doing so well. Big companies around the world are selecting Nilfisk’s complex cleaning systems for their production while consumers are choosing our high-pressure washers and vacuum cleaners at stores. This shows how versatile Nilfisk is,” says Jon Sintorn, Nilfisk CEO.

 

However, growth in the Specialty and Consumer Businesses, as well as good results in the EMEA region, were offset by falling demand for professional products in the Americas and the negative effects of the macroeconomic situation in APAC. This meant that the quarter’s total organic growth landed at -0.8%.

 

“The third quarter began well and according to plan with July growing organically by 7.1%. However, demand slowed down in the Americas, which impacted the Professional Business and the overall results,” says Jon Sintorn and adds, that Nilfisk is assessing the challenges.

 

Expectations for 2024 and beyond

Nilfisk is maintaining its financial expectations for 2024, which were updated at the end of October. Organic growth is expected to be between 1% and 3% for 2024, and the EBITDA margin before special items is expected to lie between 13% and 14%. Nilfisk has removed two of its financial targets for 2026, when it became clear that they will not be reached. This applies to the goals for organic growth from EUR 1.2 to 1.3 billion and an EBITDA margin before special items of 16%.

 

Read the entire quarterly report here.

 

Key figures

Mio. Euro.	Q3 2024	Q3 2023
Revenue	240.6	247.8
Organic growth	-0.8%	-0.7%
Gross Margin	42.4%	41.2%
Overhead costs	87.6	86.5
Overhead cost ratio	36.4%	34.9%
EBITDA before special items	30.4	31.2
EBITDA margin before special items	12.6%	12.6%
Special items	-1.2	-1.3
CAPEX ratio	4.4%	3.1%
Free cash flow	7.4	29.8
Net interest-bearing debt	257,7	271.1
Financial gearing	1.9x	2.0x

 

Press contact

Nynne Jespersen Lee
Head of Group Communication
T: +45 42310007
M: njespersen@nilfisk.com

 

About Nilfisk

Nilfisk was founded in 1906 by the Danish engineer P.A. Fisker. Today the company is a world-leading global provider of professional cleaning equipment and services. More than 90% of sales are to professionals while the remaining part of the business aimed at consumers covers floorcare equipment, vacuum cleaners, and high-pressure washers.

 

Nilfisk’s products and services are sold in more than 100 countries and produced at 9 manufacturing sites across the globe. The main production facilities are in the US, Mexico, Hungary, Italy, and China. A total of approximately 4,700 employees secured revenue of 1,033.6 mEUR in 2023. The largest single market is the USA covering 30% of revenue in 2023, followed by Germany (14%), France (10%), Denmark (6%) and the UK (4%).