Nilfisk releases 2018 financial results: A year marked by transformation
Australia – March 1, 2019 – Nilfisk, a leading global provider of professional cleaning solutions, has released its financial results for 2018, concluding a year of significant, company-wide transformation.
Hans Henrik Lund, CEO commented:
“If I had one word to characterize Nilfisk in 2018, it would be transformation. During the year, we have executed significant initiatives supporting our multi-year transformation strategy and the ongoing simplification of the company.”
According to Lund, Nilfisk divested five non-core businesses over the year, most significantly the Nilfisk Outdoor business and the US-based restoration business. These divestments have allowed Nilfisk to exit a number of production facilities, as well.
“Throughout 2018, we exited 7 of our 18 production sites. As a result, we now have a much more consolidated production footprint, with fewer and larger production hubs, reducing our operational complexity, and creating a strong foundation for the continued simplification and growth of Nilfisk,” Hans Henrik Lund said.
Growth driven by branded professional business
In 2018, Nilfisk realized total revenue of 1,054 mEUR, representing organic growth of 2.0% for the total business and an operating performance of 11.5%.
Growth was driven by positive development within the Nilfisk branded professional business in EMEA with organic growth of 3.6% and by strong performance in the Specialty Professional segment with organic growth of 11.4%. These were satisfactory results in a year that saw Nilfisk challenged in certain geographical regions.
“2018 was a challenging year in terms of delivering the financial results we expected. Total organic growth of 2% is below the expectations we had when we entered the year. This was due in part to unsatisfactory performance in our US business,” Hans Henrik Lund said, and emphasized that the transformation of Nilfisk will continue.
“We will continue to transform our company for the benefit of our customers. We will optimize and simplify our core business, while also investing in areas that enable Nilfisk to become the leader in intelligent cleaning. Our recent progress with the roll-out of our autonomous solution, the Nilfisk Liberty SC50, is a strong testament to this.”
About Nilfisk: Nilfisk is a global leader in the professional cleaning solutions industry. With more than 110 years of innovation experience, Nilfisk is dedicated to delivering reliable, high-quality solutions that pave the way for cleaner, safer, and more productive daily life for millions of companies and private homes around the world. Nilfisk has its own sales companies in more than 40 countries, and its products are sold in more than 100 countries. Read more at www.nilfisk.com.
