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
“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
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.