Nilfisk maintains growth in last quarter

8th of December 2022
Nilfisk maintains growth in last quarter

Global professional cleaning equipment producer Nilfisk has issued its financial results for Q3 2022, reporting a turnover of €263 million. This corresponds to an overall reported growth of 9.9 per cent compared to the same quarter last year.

The company says results are primarily driven by strong performance in the branded professional business, especially in the Americas and Asia Pacific.

Organic revenue growth was 5.4 per cent, primarily driven by 10.8 per cent organic growth in the branded professional business. Earnings (EBITDA before special items) came to €29.2 million in Q3 2022, compared to €34.5 million in Q3 2021.

"In Q3, Nilfisk managed to continue the positive development from the first two quarters of 2022, despite the current global economic slowdown," said Torsten Türling, Nilfisk ceo.

"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."

Declining consumer confidence adversely affected Nilfisk's consumer and private label business in Q3 - this sector accounts for around 10 per cent of turnover.

Sales growth remained constrained by global supply chain challenges for some critical components like printed circuit boards, motors and rotomolded parts. Increasing raw materials costs and continued high freight rates were to a larger extent than in previous quarters mitigated by pricing actions.

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