Tennant Company reported its second quarter 2017 earnings. Sales increased 24.9% year-over-year to $270.8 million due to the acquisition of IPC Group. Organic sales declined 2.3%. Gross margin and operating profit margin declined due to restructuring charges and manufacturing automation investments. Tennant reaffirmed sales guidance but lowered earnings guidance. It remains focused on revenue growth, profitability improvement, and achieving its $1 billion sales and 12% operating margin goals.
Tennant Company presented an investor presentation in August 2017. The presentation provided an overview of Tennant, including its vision, competitive landscape, product portfolio, customers, growth strategy, and financial results. Tennant aims to lead the cleaning industry in sustainable innovation to empower customers. It has a diverse set of products and customers globally. Tennant's growth strategy focuses on new markets and technologies, improving operations efficiency, and talent management. The acquisition of IPC Group expanded Tennant's product portfolio and global presence.
Tennant Company presented its investor presentation for May 2017. The presentation discussed Tennant's vision to lead the global cleaning industry in sustainable innovation. It provided an overview of Tennant's financial performance, growth strategies, and strategic priorities. A key part of Tennant's growth strategy is its focus on emerging technologies, new product development, and strategic acquisitions.
This document provides an overview of Tennant Company's earnings release conference call for the first quarter of 2017. Some key points:
- Net sales for Q1 2017 were a record $191.1 million, up 6.2% from the previous year. Adjusted net earnings were $0.31 per share, up 24% from 2016.
- Organic sales growth was approximately 5%. The Americas saw 4.2% growth while EMEA grew 14.3%.
- Tennant acquired IPC Group for $353 million to expand its product portfolio and global presence, particularly in EMEA.
- A $8 million restructuring charge was taken to support strategic growth initiatives and reduce costs to reach
Tennant Company presented its investor presentation for March 2017. The presentation discussed Tennant's vision to lead the global cleaning industry in sustainable innovation. It summarized Tennant's financial performance, growth strategies, and new product developments. These included a focus on emerging markets, e-commerce expansion, strategic acquisitions, and developing future technologies like battery, robotics, and asset management solutions.
Tennant Company presented financial results for the third quarter and first nine months of 2017. Key points:
- Third quarter sales increased 30.9% to $261.9 million and adjusted EBITDA increased 35.2% to $28 million.
- Year-to-date sales increased 21.3% to $723.8 million and adjusted EBITDA increased 19.5% to $70.7 million.
- Tennant completed its largest acquisition, buying IPC Group for $353 million, expanding its product portfolio and global footprint.
- Guidance for 2017 forecasts sales of $960-990 million and adjusted EPS of $2.20-2.40, including impacts of I
Tennant Company reported financial results for the second quarter of 2017. Sales increased 24.9% year-over-year to $270.8 million due to the acquisition of IPC Group. Organic sales declined 2.3% with growth of 3.1% in APAC. Gross margin, operating profit, and EPS declined due to inventory step-up costs and acquisition-related expenses from IPC. For the first half of 2017, adjusted EBITDA increased 11% to $42.8 million. Tennant expects full-year 2017 sales between $960-$990 million, EPS between $0.85-$1.05, and organic sales growth of 1-3%.
Tennant Company provides a presentation on its business and financials. It summarizes Tennant's vision to lead cleaning innovation, its competitive position in the cleaning equipment market, and its broad portfolio of commercial and industrial products. It then discusses Tennant's direct sales and service organizations globally and its broad range of customers. The presentation provides an overview of Tennant's 2016 financial results and growth strategy. It also summarizes recent acquisitions and Tennant's 2017 third quarter financial performance with organic sales growth. The presentation concludes with information on Tennant's debt levels and 2017 full year guidance.
- Tennant Company reported fourth quarter 2016 consolidated net sales of $211.7 million, up 2.9% from the fourth quarter of 2015. Organic sales grew 3.2% in the quarter.
- Net earnings for the quarter were $0.85 per diluted share, up 9% from the fourth quarter of 2015.
- For full year 2016, Tennant reported sales of $808.6 million. Operating profit margin was 8.5% and diluted EPS was $2.59 per share, up from 2015.
- Tennant also announced plans to acquire IPC Group, a manufacturer of cleaning equipment based in Italy, for $350 million. The acquisition is expected to expand Tennant
Tennant Company presented an investor presentation in August 2017. The presentation provided an overview of Tennant, including its vision, competitive landscape, product portfolio, customers, growth strategy, and financial results. Tennant aims to lead the cleaning industry in sustainable innovation to empower customers. It has a diverse set of products and customers globally. Tennant's growth strategy focuses on new markets and technologies, improving operations efficiency, and talent management. The acquisition of IPC Group expanded Tennant's product portfolio and global presence.
Tennant Company presented its investor presentation for May 2017. The presentation discussed Tennant's vision to lead the global cleaning industry in sustainable innovation. It provided an overview of Tennant's financial performance, growth strategies, and strategic priorities. A key part of Tennant's growth strategy is its focus on emerging technologies, new product development, and strategic acquisitions.
This document provides an overview of Tennant Company's earnings release conference call for the first quarter of 2017. Some key points:
- Net sales for Q1 2017 were a record $191.1 million, up 6.2% from the previous year. Adjusted net earnings were $0.31 per share, up 24% from 2016.
- Organic sales growth was approximately 5%. The Americas saw 4.2% growth while EMEA grew 14.3%.
- Tennant acquired IPC Group for $353 million to expand its product portfolio and global presence, particularly in EMEA.
- A $8 million restructuring charge was taken to support strategic growth initiatives and reduce costs to reach
Tennant Company presented its investor presentation for March 2017. The presentation discussed Tennant's vision to lead the global cleaning industry in sustainable innovation. It summarized Tennant's financial performance, growth strategies, and new product developments. These included a focus on emerging markets, e-commerce expansion, strategic acquisitions, and developing future technologies like battery, robotics, and asset management solutions.
Tennant Company presented financial results for the third quarter and first nine months of 2017. Key points:
- Third quarter sales increased 30.9% to $261.9 million and adjusted EBITDA increased 35.2% to $28 million.
- Year-to-date sales increased 21.3% to $723.8 million and adjusted EBITDA increased 19.5% to $70.7 million.
- Tennant completed its largest acquisition, buying IPC Group for $353 million, expanding its product portfolio and global footprint.
- Guidance for 2017 forecasts sales of $960-990 million and adjusted EPS of $2.20-2.40, including impacts of I
Tennant Company reported financial results for the second quarter of 2017. Sales increased 24.9% year-over-year to $270.8 million due to the acquisition of IPC Group. Organic sales declined 2.3% with growth of 3.1% in APAC. Gross margin, operating profit, and EPS declined due to inventory step-up costs and acquisition-related expenses from IPC. For the first half of 2017, adjusted EBITDA increased 11% to $42.8 million. Tennant expects full-year 2017 sales between $960-$990 million, EPS between $0.85-$1.05, and organic sales growth of 1-3%.
Tennant Company provides a presentation on its business and financials. It summarizes Tennant's vision to lead cleaning innovation, its competitive position in the cleaning equipment market, and its broad portfolio of commercial and industrial products. It then discusses Tennant's direct sales and service organizations globally and its broad range of customers. The presentation provides an overview of Tennant's 2016 financial results and growth strategy. It also summarizes recent acquisitions and Tennant's 2017 third quarter financial performance with organic sales growth. The presentation concludes with information on Tennant's debt levels and 2017 full year guidance.
- Tennant Company reported fourth quarter 2016 consolidated net sales of $211.7 million, up 2.9% from the fourth quarter of 2015. Organic sales grew 3.2% in the quarter.
- Net earnings for the quarter were $0.85 per diluted share, up 9% from the fourth quarter of 2015.
- For full year 2016, Tennant reported sales of $808.6 million. Operating profit margin was 8.5% and diluted EPS was $2.59 per share, up from 2015.
- Tennant also announced plans to acquire IPC Group, a manufacturer of cleaning equipment based in Italy, for $350 million. The acquisition is expected to expand Tennant
Tennant Company provides a presentation on its business and financials. It summarizes Tennant's vision to lead in sustainable cleaning innovation. It reviews Tennant's competitive position in the global cleaning equipment market and its broad portfolio of products. It also discusses Tennant's direct sales and service organizations, customer base, growth strategy including recent acquisitions, and financial results for 2017 including sales, EBITDA, debt, and full year guidance.
Tennant Company presented at the Needham Conference in January 2017. The presentation provided an overview of Tennant Company, which is a global leader in designing cleaning solutions. It summarized Tennant's vision, competitive position in the $5 billion global cleaning equipment market, broad product portfolio and customer base, growth strategy to reach $1 billion in sales, strategic priorities around digital technologies, and financial performance with goals for continued sales and profit margin growth. The presentation contained forward-looking statements and cautioned that actual results could differ from expectations.
Tennant Company presented its investor presentation for November 2016. The presentation discussed Tennant's vision to lead the global cleaning industry in sustainable innovation. It provided an overview of Tennant's financial performance in 2015, with $812 million in revenue. It also outlined Tennant's growth strategies, which include expanding into new markets and verticals, delivering a strong product pipeline, and improving margins. Tennant believes these strategies can help it achieve its goal of $1 billion in revenue while maintaining an operating profit margin above 12%.
Tennant Company held an earnings call to discuss its third quarter 2016 results. It reported net sales of $200.1 million, down slightly organically due to sluggish conditions in EMEA and APAC. However, the Americas saw record quarterly revenue. Earnings per share were $0.64. Tennant also discussed two recent acquisitions and its pipeline of new product launches. Looking ahead, Tennant expects a return to organic sales growth in the fourth quarter and remains committed to achieving at least a 12% operating profit margin through revenue growth and cost controls.
Tennant Company presented its strategy and financial outlook. They aim to reach $1 billion in sales organically through new product development, e-commerce expansion, and strategic acquisitions. Recent investments in their product portfolio, technologies like robotics and battery innovations, and CRM systems are expected to drive continued growth. For 2016, Tennant forecasts sales of $805-815 million and adjusted EPS of $2.40-2.60, with challenges from foreign exchange rates and a slow global economy.
Tennant Company reported second quarter 2016 earnings. Key highlights include:
- Consolidated net sales of $216.8 million, up 2.4% organically.
- Record second quarter sales in the Americas and strong organic growth in EMEA.
- Net earnings of $0.89 per diluted share on a constant currency basis, up 12.7% versus prior year.
- The company narrowed full-year sales guidance and raised earnings guidance.
The document provides details from Tennant Company's third quarter 2017 earnings release conference call. It includes:
1) An overview of Tennant Company's third quarter 2017 financial results, with sales up 30.9% year-over-year but gross margins and operating profit margins down. Earnings per share also declined.
2) Comments from management on challenges in the quarter from timing of strategic accounts, restructuring charges, and manufacturing automation initiatives. However, they note growth in the Industrial/Professional Cleaning segment and EMEA region.
3) Tennant's outlook, which expects continued focus on operational efficiencies, synergies from acquisitions, and maintaining a strong new product pipeline to improve margins
- Revenues for Q1 2021 totaled EUR 334m, up 10.7% from Q1 2020. Orders received were also up year-over-year at EUR 369m.
- Gross profit was 37.2% of revenues, impacted by higher costs of customer deliveries due to logistical challenges. Operating expenses increased to support growth initiatives.
- Adjusted EBIT margin was 11.4%, up from 8.4% in Q1 2020. Net result increased 58.2% to EUR 21.2m.
- Marel reported strong orders received in Q3 2021 leading to a healthy order book, with strong performance in poultry and fish but softer orders for meat. Revenues were up 15.6% year-over-year.
- Gross profit was 37.1% in Q3 2021, impacted by higher costs of customer deliveries due to supply chain challenges. Profitability was also hampered by increased operating expenses to support growth.
- The order book at the end of Q3 2021 was EUR 528 million, representing 39.5% of trailing 12-month revenues, supported by a book-to-bill ratio of 1.09x in Q3 2021.
The CEO provides a summary of Marel's operations in 2020 and strategic plans. Key points include:
- Marel ensured efficient operations in the global food supply chain during the pandemic through rapid decisions and innovation.
- Acquisitions of TREIF, PMJ, and a stake in Stranda strengthen Marel's product offerings and ability to serve customers.
- Marel accelerated digital transformation efforts and maintained global operations despite challenges.
- Going forward, Marel will continue investing in growth through innovation, infrastructure, and strategic partnerships.
CEO Arni Oddur Thordarson and EVP Innovation Anna Kristin Palsdottir presented on how Marel strives to be the digital partner of choice for the food processing industry, and to enable its customers to sustainably maximize value creation by providing the platform for interconnectivity and optimization.
This document provides a summary of Ingersoll Rand's first quarter 2017 results. Some key points:
- Revenue increased 4% year-over-year on an organic basis to $3 billion. Adjusted EPS increased 14% to $0.57.
- Commercial and residential HVAC businesses saw strong revenue and bookings growth in the high-single digits. Industrial business bookings were up 9%.
- Adjusted operating margins improved in both the climate and industrial segments.
- Guidance for full-year 2017 revenue growth remains at 2-3% organic and adjusted EPS is increased to a range of $4.35 to $4.50.
- The document discusses Greif's Q3 2016 earnings conference call. It provides an overview of Greif's financial performance in Q3 2016 including net sales, operating profit, net income, and free cash flow.
- Greif's strategic priorities are building engaged teams, customer service excellence, and achieving transformational performance. In Q3 2016, Greif saw improvements in customer satisfaction scores.
- Rigid Industrial Packaging & Services saw revenue growth excluding divestitures. Gross profit margin increased significantly driven by price/mix management and production efficiencies.
- Paper Packaging & Services increased volumes to offset lower prices while specialty sales expanded 10%. Flexible Products & Services showed a 15% improvement in gross
On Thursday 22 July 2021, Marel hosted a virtual investor meeting where CEO Arni Oddur Thordarson and CFO Linda Jonsdottir gave an overview of the financial results and operational highlights in the second quarter.
Ramirent reported strong fourth quarter and full-year 2015 results with sales growth driven by strong services sales and good demand in general rental. Fourth quarter net sales increased 6.1% year-over-year at comparable exchange rates, while full-year net sales grew 6.0%. Profitability remained under pressure due to a higher share of lower margin services sales and price pressure in some markets. The company met all of its long-term financial targets for 2015.
Tennant Company reported earnings for the second quarter of 2015. Key points include:
- Consolidated net sales were $215.4 million, up nearly 4% organically over the prior year.
- Earnings were $0.79 per diluted share.
- Growth was led by strong strategic account sales in North America and new products.
- The company reaffirmed its 2015 EPS guidance of $2.40 to $2.70 per share.
This document contains forward-looking statements and non-GAAP financial measures related to a TD Securities Forest Products Forum presentation. It outlines that all forward-looking statements are based on currently available information and are subject to certain risks and uncertainties. It also states that non-GAAP measures are used by management to evaluate performance and are indicated with footnotes, with reconciliation tables available. The document also contains regulation language regarding the use of non-GAAP measures.
1) Marico reported above-estimate revenue growth of 25.2% for Q1FY15, driven by price hikes to offset rising input costs, while operating profit and PAT growth were in line.
2) Volume growth was 5% overall, with strong value growth in Parachute and VAHO brands. International business also grew 16.3% despite a challenging environment.
3) Gross margins fell sharply due to high copra prices, but operating margins declined only slightly due to controlled spending growth.
4) The analyst maintains a Buy rating and increases the FY15 revenue estimate while keeping profits unchanged. The price target is Rs. 295 over the next quarter.
Marel Q4 and 2021 financial results investor presentationMarel
Marel held an investor meeting on February 3rd, 2022 to report on Q4 and full year 2021 results. The key points are:
- Orders received reached record levels in Q4 and for the full year, driven by strong demand for automation solutions across industries.
- Revenues for 2021 were €1.36 billion, up 9.9% year-over-year, with aftermarket sales representing 40% of revenues.
- Profitability was impacted by strategic projects, supply chain challenges, and investments ahead of growth. EBIT margin for 2021 was 13.5%.
- The order book ended the year at a record €569 million, up 36.9% year-
Ingersoll Rand is a $13 billion global company that operates in two business segments: Climate and Industrial. It advances quality of life by creating comfortable, sustainable, and efficient environments through its portfolio of brands such as Club Car, Ingersoll Rand, Thermo King, and Trane. The company works to enhance air quality and comfort in homes and buildings, transport and protect food and perishables, and increase industrial productivity and efficiency. It is committed to sustainable progress and enduring results.
Tennant Company reported earnings for the first quarter of 2016. Net sales were $179.9 million, equal to the prior year period. Earnings per share on a constant currency basis increased 7.4% over the prior year quarter to $0.29. The company reaffirmed its full year 2016 guidance for sales between $795-825 million and earnings per share of $2.25-$2.55. Tennant remains committed to organic sales growth and a 12% or higher operating profit margin through new product launches and expanding into emerging markets.
Tennant Company presented financial results for the third quarter and first nine months of 2017. Key points include:
- Q3 2017 sales increased 30.9% to $261.9 million due to acquisition of IPC Group. Organic sales grew 1.3%. EBITDA increased 35.2% to $28 million.
- YTD 2017 sales grew 21.3% to $723.8 million. Organic sales grew 1.1%. Adjusted EBITDA increased 19.5% to $70.7 million.
- Full year 2017 guidance revised adjusted EPS to $1.50-$1.70 and GAAP EPS to $1.40-$1.70 due
Tennant Company provides a presentation on its business and financials. It summarizes Tennant's vision to lead in sustainable cleaning innovation. It reviews Tennant's competitive position in the global cleaning equipment market and its broad portfolio of products. It also discusses Tennant's direct sales and service organizations, customer base, growth strategy including recent acquisitions, and financial results for 2017 including sales, EBITDA, debt, and full year guidance.
Tennant Company presented at the Needham Conference in January 2017. The presentation provided an overview of Tennant Company, which is a global leader in designing cleaning solutions. It summarized Tennant's vision, competitive position in the $5 billion global cleaning equipment market, broad product portfolio and customer base, growth strategy to reach $1 billion in sales, strategic priorities around digital technologies, and financial performance with goals for continued sales and profit margin growth. The presentation contained forward-looking statements and cautioned that actual results could differ from expectations.
Tennant Company presented its investor presentation for November 2016. The presentation discussed Tennant's vision to lead the global cleaning industry in sustainable innovation. It provided an overview of Tennant's financial performance in 2015, with $812 million in revenue. It also outlined Tennant's growth strategies, which include expanding into new markets and verticals, delivering a strong product pipeline, and improving margins. Tennant believes these strategies can help it achieve its goal of $1 billion in revenue while maintaining an operating profit margin above 12%.
Tennant Company held an earnings call to discuss its third quarter 2016 results. It reported net sales of $200.1 million, down slightly organically due to sluggish conditions in EMEA and APAC. However, the Americas saw record quarterly revenue. Earnings per share were $0.64. Tennant also discussed two recent acquisitions and its pipeline of new product launches. Looking ahead, Tennant expects a return to organic sales growth in the fourth quarter and remains committed to achieving at least a 12% operating profit margin through revenue growth and cost controls.
Tennant Company presented its strategy and financial outlook. They aim to reach $1 billion in sales organically through new product development, e-commerce expansion, and strategic acquisitions. Recent investments in their product portfolio, technologies like robotics and battery innovations, and CRM systems are expected to drive continued growth. For 2016, Tennant forecasts sales of $805-815 million and adjusted EPS of $2.40-2.60, with challenges from foreign exchange rates and a slow global economy.
Tennant Company reported second quarter 2016 earnings. Key highlights include:
- Consolidated net sales of $216.8 million, up 2.4% organically.
- Record second quarter sales in the Americas and strong organic growth in EMEA.
- Net earnings of $0.89 per diluted share on a constant currency basis, up 12.7% versus prior year.
- The company narrowed full-year sales guidance and raised earnings guidance.
The document provides details from Tennant Company's third quarter 2017 earnings release conference call. It includes:
1) An overview of Tennant Company's third quarter 2017 financial results, with sales up 30.9% year-over-year but gross margins and operating profit margins down. Earnings per share also declined.
2) Comments from management on challenges in the quarter from timing of strategic accounts, restructuring charges, and manufacturing automation initiatives. However, they note growth in the Industrial/Professional Cleaning segment and EMEA region.
3) Tennant's outlook, which expects continued focus on operational efficiencies, synergies from acquisitions, and maintaining a strong new product pipeline to improve margins
- Revenues for Q1 2021 totaled EUR 334m, up 10.7% from Q1 2020. Orders received were also up year-over-year at EUR 369m.
- Gross profit was 37.2% of revenues, impacted by higher costs of customer deliveries due to logistical challenges. Operating expenses increased to support growth initiatives.
- Adjusted EBIT margin was 11.4%, up from 8.4% in Q1 2020. Net result increased 58.2% to EUR 21.2m.
- Marel reported strong orders received in Q3 2021 leading to a healthy order book, with strong performance in poultry and fish but softer orders for meat. Revenues were up 15.6% year-over-year.
- Gross profit was 37.1% in Q3 2021, impacted by higher costs of customer deliveries due to supply chain challenges. Profitability was also hampered by increased operating expenses to support growth.
- The order book at the end of Q3 2021 was EUR 528 million, representing 39.5% of trailing 12-month revenues, supported by a book-to-bill ratio of 1.09x in Q3 2021.
The CEO provides a summary of Marel's operations in 2020 and strategic plans. Key points include:
- Marel ensured efficient operations in the global food supply chain during the pandemic through rapid decisions and innovation.
- Acquisitions of TREIF, PMJ, and a stake in Stranda strengthen Marel's product offerings and ability to serve customers.
- Marel accelerated digital transformation efforts and maintained global operations despite challenges.
- Going forward, Marel will continue investing in growth through innovation, infrastructure, and strategic partnerships.
CEO Arni Oddur Thordarson and EVP Innovation Anna Kristin Palsdottir presented on how Marel strives to be the digital partner of choice for the food processing industry, and to enable its customers to sustainably maximize value creation by providing the platform for interconnectivity and optimization.
This document provides a summary of Ingersoll Rand's first quarter 2017 results. Some key points:
- Revenue increased 4% year-over-year on an organic basis to $3 billion. Adjusted EPS increased 14% to $0.57.
- Commercial and residential HVAC businesses saw strong revenue and bookings growth in the high-single digits. Industrial business bookings were up 9%.
- Adjusted operating margins improved in both the climate and industrial segments.
- Guidance for full-year 2017 revenue growth remains at 2-3% organic and adjusted EPS is increased to a range of $4.35 to $4.50.
- The document discusses Greif's Q3 2016 earnings conference call. It provides an overview of Greif's financial performance in Q3 2016 including net sales, operating profit, net income, and free cash flow.
- Greif's strategic priorities are building engaged teams, customer service excellence, and achieving transformational performance. In Q3 2016, Greif saw improvements in customer satisfaction scores.
- Rigid Industrial Packaging & Services saw revenue growth excluding divestitures. Gross profit margin increased significantly driven by price/mix management and production efficiencies.
- Paper Packaging & Services increased volumes to offset lower prices while specialty sales expanded 10%. Flexible Products & Services showed a 15% improvement in gross
On Thursday 22 July 2021, Marel hosted a virtual investor meeting where CEO Arni Oddur Thordarson and CFO Linda Jonsdottir gave an overview of the financial results and operational highlights in the second quarter.
Ramirent reported strong fourth quarter and full-year 2015 results with sales growth driven by strong services sales and good demand in general rental. Fourth quarter net sales increased 6.1% year-over-year at comparable exchange rates, while full-year net sales grew 6.0%. Profitability remained under pressure due to a higher share of lower margin services sales and price pressure in some markets. The company met all of its long-term financial targets for 2015.
Tennant Company reported earnings for the second quarter of 2015. Key points include:
- Consolidated net sales were $215.4 million, up nearly 4% organically over the prior year.
- Earnings were $0.79 per diluted share.
- Growth was led by strong strategic account sales in North America and new products.
- The company reaffirmed its 2015 EPS guidance of $2.40 to $2.70 per share.
This document contains forward-looking statements and non-GAAP financial measures related to a TD Securities Forest Products Forum presentation. It outlines that all forward-looking statements are based on currently available information and are subject to certain risks and uncertainties. It also states that non-GAAP measures are used by management to evaluate performance and are indicated with footnotes, with reconciliation tables available. The document also contains regulation language regarding the use of non-GAAP measures.
1) Marico reported above-estimate revenue growth of 25.2% for Q1FY15, driven by price hikes to offset rising input costs, while operating profit and PAT growth were in line.
2) Volume growth was 5% overall, with strong value growth in Parachute and VAHO brands. International business also grew 16.3% despite a challenging environment.
3) Gross margins fell sharply due to high copra prices, but operating margins declined only slightly due to controlled spending growth.
4) The analyst maintains a Buy rating and increases the FY15 revenue estimate while keeping profits unchanged. The price target is Rs. 295 over the next quarter.
Marel Q4 and 2021 financial results investor presentationMarel
Marel held an investor meeting on February 3rd, 2022 to report on Q4 and full year 2021 results. The key points are:
- Orders received reached record levels in Q4 and for the full year, driven by strong demand for automation solutions across industries.
- Revenues for 2021 were €1.36 billion, up 9.9% year-over-year, with aftermarket sales representing 40% of revenues.
- Profitability was impacted by strategic projects, supply chain challenges, and investments ahead of growth. EBIT margin for 2021 was 13.5%.
- The order book ended the year at a record €569 million, up 36.9% year-
Ingersoll Rand is a $13 billion global company that operates in two business segments: Climate and Industrial. It advances quality of life by creating comfortable, sustainable, and efficient environments through its portfolio of brands such as Club Car, Ingersoll Rand, Thermo King, and Trane. The company works to enhance air quality and comfort in homes and buildings, transport and protect food and perishables, and increase industrial productivity and efficiency. It is committed to sustainable progress and enduring results.
Tennant Company reported earnings for the first quarter of 2016. Net sales were $179.9 million, equal to the prior year period. Earnings per share on a constant currency basis increased 7.4% over the prior year quarter to $0.29. The company reaffirmed its full year 2016 guidance for sales between $795-825 million and earnings per share of $2.25-$2.55. Tennant remains committed to organic sales growth and a 12% or higher operating profit margin through new product launches and expanding into emerging markets.
Tennant Company presented financial results for the third quarter and first nine months of 2017. Key points include:
- Q3 2017 sales increased 30.9% to $261.9 million due to acquisition of IPC Group. Organic sales grew 1.3%. EBITDA increased 35.2% to $28 million.
- YTD 2017 sales grew 21.3% to $723.8 million. Organic sales grew 1.1%. Adjusted EBITDA increased 19.5% to $70.7 million.
- Full year 2017 guidance revised adjusted EPS to $1.50-$1.70 and GAAP EPS to $1.40-$1.70 due
- Tennant Company reported organic sales growth of 2.1% and adjusted earnings per share of $0.34 for the fourth quarter of 2017. However, gross margins declined 330 basis points to 40.9% due to lower field service productivity and manufacturing inefficiencies.
- For full year 2018, Tennant is guiding for sales of $1.07-$1.10 billion (3% organic growth), adjusted EPS of $1.80-$2.00, adjusted EBITDA of $111-$116 million, and gross margins of 41.0-42.0%.
- For the first quarter of 2018, Tennant expects EPS of $0.15-$0.20 due to historically
Tennant Company reported first quarter 2015 results. Key points include:
- Consolidated net sales grew 6% organically to $185.7 million, a record first quarter.
- Growth was led by strong strategic account sales in Americas and new product demand.
- Operating profit was $8.3 million, down from $9.2 million in prior year due to foreign exchange impacts.
- The company reaffirmed its 2015 EPS guidance range of $2.40 to $2.70.
- Tennant Company reported strong first quarter 2018 results, with sales growth of 43% driven by the acquisition of IPC and 6.5% organic growth. Adjusted earnings were $0.27 per share.
- Organic sales increased across all three geographic regions, with the Americas seeing 13.9% growth. EMEA sales grew 166.9% overall and 2.1% organically.
- Gross margin declined 120 basis points to 40.5% due to inventory write-offs and product mix changes. However, gross margin is expected to remain within guidance of 41-42% for the full year.
- Full year 2018 guidance projects sales of $1.08-1.11
The document provides an overview of Ingersoll Rand's fourth quarter 2017 results presentation. Some key points:
- Revenue grew 5% year-over-year on a reported basis and 5% organically. Adjusted operating margin expanded 10 basis points. Adjusted EPS grew 9%. Free cash flow was $1.3 billion, over 100% of adjusted net income.
- Both segments saw strong organic bookings growth in the quarter. Industrial bookings grew 12% overall. Climate bookings grew 7%.
- The Industrial segment margin expanded 160 basis points to 13.2% due to volume growth, price increases, and productivity gains offsetting material inflation. Revenue grew 5% organically.
The document is a presentation from Bank of America Merrill Lynch's Global Industrials Conference in March 2018. It provides an overview of Ingersoll Rand, including:
- Ingersoll Rand has two segments, Climate and Industrial, with diversified end markets and a high aftermarket parts and services mix.
- The company has a global presence with leading brands and market positions. It is focused on margin expansion, business investments, and delivering powerful free cash flow.
- Ingersoll Rand's strategy is driving sustained growth, operating margin improvement, and balanced capital deployment to maximize shareholder value.
J.P. Morgan Aviation, Transportation & Industrials Conference March 2018
The document provides an overview of Ingersoll Rand's business including:
1) Ingersoll Rand has two segments, Industrial and Climate, with diversified end markets globally.
2) The company has a history of revenue growth, margin expansion, and strong free cash flow generation.
3) Ingersoll Rand is focused on innovation, operational excellence, and a balanced capital allocation strategy to drive continued growth and shareholder returns through 2020 and beyond.
Tennant Company presented its investment strategy and financial outlook. The presentation discussed Tennant's goal of reaching $1 billion in sales organically through strategies like expanding into new markets and verticals, delivering new product innovations, improving their go-to-market approach, and growing in emerging markets. Tennant also expects challenges from foreign currency volatility and a slowing global economy. However, the company believes its portfolio of products and technologies and go-to-market strategy have positioned it well for future growth to achieve its financial targets.
The document summarizes Ingersoll Rand's 2017 Investor & Analyst Day. It provides an overview of the company, highlights its strong and improving financial performance, and outlines its strategy and outlook for continued sustainable performance through 2020. Ingersoll Rand's businesses are well positioned due to its leading brands and market positions. The company's business operating system delivers results through a focus on sustainability, innovation, employee engagement and operational excellence.
Suominen at Small Mid Cap Forum in London, on 26 September 2017Suominen Corporation
Suominen Corporation presented its strategy for 2017-2021 which focuses on becoming the best in the nonwovens business. The strategy has three cornerstones - being the best in turning end-user needs into commercial success, creating nonwovens that others cannot, and building a community of changemakers. Suominen recently completed investments that strengthened its capabilities in product development, manufacturing, and information systems. Its vision is to change how people think about nonwovens by offering engineered solutions rather than just raw materials.
- TE Connectivity reported record Q2 2017 performance with 8% organic sales growth and adjusted EPS of $1.19, up 32% year-over-year.
- Transportation Solutions saw 9% organic growth driven by strength in automotive. Industrial Solutions grew 3% organically led by factory automation. Communications Solutions grew 9% organically across all businesses.
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3. Our remarks this morning and our answers to questions may contain forward-looking
statements regarding the company’s expectations of future performance. Such statements
are subject to risks and uncertainties, and our actual results may differ materially from those
contained in the statements. These risks and uncertainties are described in today’s news
release and the documents we file with the Securities and Exchange Commission. We
encourage you to review those documents, particularly our Safe Harbor statement, for a
description of the risks and uncertainties that may affect our results.
Additionally, on this conference call we will discuss non-GAAP measures that include or
exclude special or non-recurring items. For each non-GAAP measure, we also provide the
most directly comparable GAAP measure. There were special non-GAAP items in the 2017
second quarter and first half. There were no special non-GAAP items in 2016. Our 2017
second quarter earnings release includes a reconciliation of these non-GAAP measures to our
GAAP results for the 2017 second quarter and first half.
3
TENNANT COMPANY
FORWARD LOOKING STATEMENTS
& NON-GAAP MEASURES
4. • Maintaining strong new product and technology
pipeline
• Expanding global market coverage
• Building e-Business capabilities
• Leveraging cost structure to improve operating
efficiency
4
TENNANT COMPANY
Core Strategies
5. • New product launches and strong Vitality Index
• Strengthened organic performance in APAC region
• Solid year-over-year sales performance of IPC
• Near-term headwinds impacted gross margin
– Related to restructuring charge activities and
manufacturing automation initiatives
5
TENNANT COMPANY
2017 Second Quarter Overview
6. • 2017 second quarter consolidated net sales grew
24.9% to $270.8M
– Record sales for a second quarter including IPC
• 2Q Organic sales decline of approximately 2.3%
– Organic sales growth of approx. 5% in 1Q
– Organic sales growth of approx. 1% in First Half
• Adjusted net earnings of $0.60 per share
– Versus prior year $0.85 per diluted share
6
TENNANT COMPANY
2017 Second Quarter Performance
7. • Closed transaction April 6, 2017
– Largest acquisition in Tennant Company history
– IPC Group – based in Italy, designs and manufactures innovative
professional cleaning equipment, tools and other solutions
• IPC complements Tennant’s core strategies
– Expanding geographic presence in key markets
– Improving and better utilizing scale efficiencies
– Expanded portfolio of product offerings
• Post-acquisition integration has begun
– IPC achieved organic sales growth of 8% in 2017 second quarter
7
TENNANT COMPANY
Acquisition of IPC Group
8. TENNANT COMPANY
IPC Group Overview
3
Key Facts and Figures
Geographic Coverage
IPC Group produces machines and equipment for the professional cleaning sector
— Cleaning machines: floor sweepers and scrubbers, vacuum cleaners, high- pressure
washers and related aftermarket parts and services
— Cleaning tools and supplies: trolleys, window cleaning tools and consumables
2016A Revenue: €186mm
2016A Adjusted EBITDA: €26mm (~14% margin)
5 manufacturing plants; 11 international branches with sales to over 100 countries
~1,000 Employees
Eagle
Eagan, Minnesota
Industria e Comercio
Pinhais Parana
Cleaning España
Barcelona
ICA
Épône Cedex
Soteco Benelux
Wommelgem
Gansow
Unna
Foma Norge
Langhus
China Trade Corporation
Fo Shan, Guangdong
Western Floor PVT
New Delhi
Revenue by Geography
2016A Revenue Mix
2016A Revenue by Product
2016A Revenue by Type
Sweepers & Scrubbers
42%
Vacuum Cleaners
21%
Cleaning Tools and
Supplies
19%
High Pressure
18%
Machinery
59%Machinery Aftermarket
22%
Tools and Supplies
19%
EMEA
80%
Americas
11%
RoW
9%
8
9. TENNANT COMPANY
IPC’s Diverse Product Portfolio
9
Product
% of Net Sales
by Equipment
Type Product Description
Overlap with
Existing TNC
Products1
Sweepers
and
Scrubbers
42%
Scrubbers: 15L to 230L (tank size)
Sweepers: 460mm to 1,200mm (brush size)
Multiple Power Systems: Electric cables,
batteries, diesel, petrol and hybrid
Vacuum
Cleaners
21%
Dry Vacuum Cleaners: 750W to 1,400W
Wet & Dry Vacuum Cleaners: 1,300W to
3,600W
Single motor to three motor models
Tools 19%
Small surface, window cleaning and room
cleaning
Continuous need for supply of related
consumables
Pressure
Washers
18%
Range of 2.5HP to 13HP
— Diesel versions up to 900 liters per hour
— Gasoline versions up to 1,260 liters per hour
Ride On Walk Behind
Dry Wet & Dry Industrial
Hot Water Cold Water
Trolleys Equipment
Mops and
Cloths
Scrubber
Sweeper
Scrubber
Sweeper
Hydro-cleaners with
high temperature
water jets and internal
heaters
Hydro-cleaners
with cold
water jets
Carts for
manual tools
Window and mirror
surface cleaning
Surface
and floor
cleaning
¹ Shaded area represents approximate level of overlap with existing Tennant products
9
10. • Incremental Sales
– Complementary sales channels
– Cross-selling to reach new customers with both
brands: Tennant and IPC
• $10M run-rate Cost Synergies by 2019
– Sourcing savings
– Improving sales and service capabilities
– Operating scale benefits
• Anticipate acquisition will be accretive to 2018
full year earnings per share
10
TENNANT COMPANY
IPC Synergy Opportunities
11. • Charge recorded in first quarter 2017
• To support key strategic growth initiatives and
reduce costs to accelerate our ability to reach our
12% operating profit margin goal
• Approximate 3% net reduction in global workforce
• Savings, predominantly personnel costs, anticipated
to be $7M in 2017 and a total of $10M in 2018
11
TENNANT COMPANY
Restructuring Initiatives
12. • Restructuring initiatives led to field service
productivity challenges
• Unfavorable impact in production operations from
investments in manufacturing automation
• Factors are controllable and anticipate improvement
• Reaffirming full year sales guidance range
• Lowering full year earnings guidance range
12
TENNANT COMPANY
Committed to Improving Margins
13. – Launched V3e compact dry canister
vacuum
• Three-stage HEPA filtration system
• Low 68 decibel sound level
• Increases operator productivity
– Introduced i-mop
• Versatile walk-behind scrubber
combines cleaning performance of
auto-scrubber with agility of flat mop
TENNANT COMPANY
2017 Plan: 32 New Products/Variants
13
14. TENNANT COMPANY
e-Commerce Platform
• Empower our customers
• Anticipate their needs
• Enhance their experience
Good Experience Increase Revenue
• New customers
• New geographies
• Expand products
Lower Cost of Sale
• Self-service
• Reduce manual interventions
• Cost avoidance
Cleaning solutions made easy online
14
15. • Remain committed to strategic direction
• Focus on accelerating revenue growth and
improving profitability
• Remain cautious of global macroeconomic
environment
• Acquisition of IPC Group expands product portfolio
and geographic presence
• Sales momentum heading into 2017 second half
15
TENNANT COMPANY
Looking Ahead in 2017
Remain committed to $1B Sales target and 12% OP Margin goal
16. 16
Q2’17
SALES
Adjusted* GROSS MARGIN
R&D EXPENSE (% of sales)
Adjusted*
S&A EXPENSE (% of sales)
Adjusted*
OPERATING PROFIT
Adjusted*
OPERATING PROFIT MARGIN
Adjusted*
EPS
Q2’16 CHANGE
TENNANT COMPANY
2017 SECOND QUARTER
$270.8 M
40.9%
2.9%
30.5%
$20.2 M
7.5%
$0.60
$216.8 M
43.9%
3.9%
29.6%
$22.6 M
10.4%
$0.85
+24.9%
(300 bps)
(100 bps)
+90 bps
(10.3%)
(290 bps)
(29.4%)
Organic Sales Decline 2.3% | Organic Sales up 3.1% in APAC
*Q2’17 results are adjusted to exclude inventory step-up of $6.2M pre-tax ($0.25 per share) in Gross Margin and IPC acquisition costs and
pension charge of $4.9M pre-tax ($0.28 per share) in S&A Expense. EPS also excludes financing costs related to IPC acquisition of $6.2M
pre-tax ($0.22 per share).
17. 17
• Sales declined 2.8% organically
(excluding approx. 0% foreign currency impact and 6.0% impact from
Florock and IPC acquisitions)
• Overall lower sales; however, demand for new
products, particularly M17 sweeper-scrubber,
favorably impacted sales
• Strong sales growth in Mexico
TENNANT COMPANY
2017 Second Quarter by Region
AMERICAS
18. • Sales decreased 4.8% organically in 2017 second quarter
(excluding approx. 3.5% unfavorable foreign currency impact and 133.2%
impact from IPC acquisition)
• Solid sales performance in Central Eastern Europe,
Middle East and Africa markets was more than offset by
declines in other countries
• Sales increased 14.3% organically in 2017 first quarter
(excluding approx. 5.5% unfavorable foreign currency impact and 0.5% impact from Green Machines divestiture)
18
EMEA
TENNANT COMPANY
2017 Second Quarter by Region
19. • Sales increased 3.1% organically
(excluding approx. 2.0% unfavorable foreign currency impact and
29.6% impact of IPC acquisition)
• Robust sales growth in China and Southeast Asia
partially offset by lower sales in Australia and
Japan
19
APAC
TENNANT COMPANY
2017 Second Quarter by Region
20. 20
Q2’17
SALES
Adjusted* GROSS MARGIN
R&D EXPENSE (% of sales)
Adjusted*
S&A EXPENSE (% of sales)
Adjusted*
OPERATING PROFIT
Adjusted*
OPERATING PROFIT MARGIN
Adjusted*
EPS
Q2’16 CHANGE
TENNANT COMPANY
2017 SECOND QUARTER
$270.8 M
40.9%
2.9%
30.5%
$20.2 M
7.5%
$0.60
$216.8 M
43.9%
3.9%
29.6%
$22.6 M
10.4%
$0.85
+24.9%
(300 bps)
(100 bps)
+90 bps
(10.3%)
(290 bps)
(29.4%)
Organic Sales Decline 2.3% | Organic Sales up 3.1% in APAC
*Q2’17 results are adjusted to exclude inventory step-up of $6.2M pre-tax ($0.25 per share) in Gross Margin and IPC acquisition costs and
pension charge of $4.9M pre-tax ($0.28 per share) in S&A Expense. EPS also excludes financing costs related to IPC acquisition of $6.2M
pre-tax ($0.22 per share).
21. Remain committed to at least 12% OP Margin
• Drive organic revenue growth in mid- to high-single digits
• Hold fixed costs essentially flat in manufacturing as volume
rises
• Strive for zero net inflation at gross profit line
• Standardize and simplify processes to improve scalability of
business model
21
TENNANT COMPANY
Operating Profit Margin Goal
22. • Overall effective tax rate for 2016 full year
was 29.9%
• Overall effective tax rate for 2017 first half,
excluding special items, of 28.7%
• Base tax rate for 2017 first half of 33.6%
(excluding special items and routine discrete items)
22
TENNANT COMPANY
Successful Tax Strategies
24. • $411 million of Debt comprised of:
– $300 million Senior Unsecured Notes
– $ 98 million outstanding of a $100 million Term Loan
– $ 20 million outstanding under Revolving Credit Facility
– An offsetting $7 million of debt issuance costs yet to be
amortized
• 4.2% Overall Weighted Average Cost of Debt
24
TENNANT COMPANY
Debt as of June 30, 2017
25. 25
TENNANT COMPANY
2017 EPS & Sales Guidance
2016 ACTUAL As Reported $2.59EPS $808.6MSALES
2017 Financial Outlook
As Adjusted and “Constant Currency” $2.30 to $2.50
As Reported $0.85 to $1.05/$960M to $990M
KEY EXPECTATIONS FOR 2017 (includes the impact of the April 2017 IPC Group acquisition)
• Net sales in the range of $960M to $990M versus $808.6M in 2016.
• Stable economy in North America, modest improvement in Europe, and challenging environment in APAC.
• Unfavorable foreign currency impact on sales of approximately 1%.
• Sales increase from acquisitions: 2016 Florock of approximately 0.8%; 2017 IPC range of 18.6% to 20.4%.
• Organic sales growth, excluding foreign currency exchange impact and acquisitions, in the range of 1% to 3%.
• Adjustments of $31.4M pre-tax, or $1.36 per share, non-recurring special items: $8.0M Restructuring Charge,
$7.6M IPC acquisition costs, $7.4M IPC related financing costs, $8.2M IPC acquisition inventory step-up, $0.2M
pension plan settlement charge.
• Foreign currency exchange headwinds estimated to negatively impact operating profit by approximately $2.5M,
or approximately $0.10 EPS.
• Gross margin performance in the range of 41% to 42%.
• R&D expense in the range of 3% to 4% of sales.
• Effective tax rate of approximately 29%.
• Capital expenditures in the range of $25M to $30M.
27. Tennant re-engineering to deliver
value to customers & shareholders
27
Competitively
advantaged in the market
with our innovative
product and technology
portfolio and go-to-
market strategy
Well positioned to
leverage our
operational efficiency
Remain committed to $1B Sales target and 12% OP Margin goal