Investor Presentation
Reconciliation tables (2/2)
EURM
Changes in operating receivables
Changes in work in progress
Changes in operating liabilities
Change NWC incl. adjustment for FX differences and acquired NWC
Q4 2018
Q1- Q3 2019
2014
2015
2016
2017
2018
LTM Q3 2019
IAS 17
IFRS 16
0.5
4.0
-7.6
0.5
-4.1
3.6
-3.7
-0.1
-0.39
-0.5
-12.4
12.5
-11.6
3.0
4.0
7.0
0.4
-1.5
15.4
-4.2
3.9
5.9
-17.7
-11.8
-3.0
2.0
-4.5
8.7
-11.8
12.5
-17.4
-4.9
Exchange rate differences
-1.3
-0.3
-0.2
3.7
-2.4
4.7
EURM
Q1
2016
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
2016
2016
2016
2017
2017
2017
2017
2018
2018
2018
2018
2019
2019
2019
Sales
109.4
118
121.7
136.3
132.8
119.8
125.0
141.2
148.2
147.1
158.1
166.0
160.0
157.8
173.0
Operating profit
4.5
4.8
7.9
7.9
7.2
4.4
7.2
7.0
6.8
6.8
8.1
3.7
8.1
5.4
10.5
Amortization of acquisition related tangible and intangible
assets
1.4
1.4
1.2
1.2
1.2
1.2
1.2
1.2
1.6
1.6
1.6
1.8
6.8
7.3
7.7
Operational amortisations
EBITA
5.9
6.2
9.1
9.1
8.4
5.6
8.4
8.2
8.3
8.4
9.7
5.4
14.9
12.7
18.2
Depreciation
2.3
2.4
2.4
2.3
2.3
2.4
2.5
2.8
3.13
3.3
3.4
3.6
2.9
3.1
3.3
Operating profit before depreciation (EBITDA)
8.2
8.6
11.5
11.4
10.7
8.0
10.9
11.0
11.5
11.7
13.1
9.1
17.8
15.8
21.5
Items affecting comparability
0.4
0.1
0.2
1.1
0.1
0.9
0.4
1.6
1.4
0.6
0.5.
5.2
0.5
1.4
0.2
Operating profit before depreciation and IAC (Adjusted
EBITDA)
8.5
8.7
11.7
12.5
10.8
8.8
11.3
12.6
12.9
12.2
13.6
14.3
18.3
17.2
21.7
Adjusted EBITDA %
7.8%
7.4%
9.60%
9.20%
8.10%
7.4%
9.0%
8.9%
8.7%
8.3%
8.6%
8.6%
11.4%
10.9%
12.5%
Note: Changed definition of Adjusted EBITDA in Q3 2019 compared with Q1 & Q2 2019 reports, with the new definition being: Earnings before interest, tax, depreciation and amortisation and items affecting comparability
Source: Company information
SUPPORTING MATERIALS | POLYGON 46View entire presentation