Industrial cleaning equipment maker Nilfisk goes public

Industrial cleaning equipment maker Nilfisk goes public

Copyright: Nilfisk

Danish Nilfisk Holding A/S began being listed on the NASDAQ Stock Exchange under symbol NLFSK after being spun off from NKT A/S, a Danish conglomerate. Nilfisk is one of the world’s leading suppliers of professional cleaning equipment with a strong brand and a vision for growth in robotics.

Nilfisk expects that 10% of their revenue will come from autonomous machines within the next 5-7 years. In that pursuit, Blue Ocean Robotics and Nilfisk recently announced a strategic partnership to develop a portfolio of intelligent cleaning machines and robots to add to the Nilfisk line of industrial cleaners.

According to Hans Henrik Lund, CEO of Nilfisk,

We estimate that approximately 70 percent of the cost of professional cleaning goes to labor. At the same time, the cleaning industry is one of the industries with the highest employee turnover. We therefore experience a significant need among our customers to introduce autonomous machines that can solve standardized cleaning tasks so that cleaning operators can be used for other assignments. We have a clear strategy to develop our product portfolio in partnership with highly-specialized technology companies that are the best in their field. We already have good experiences with this, and we are looking forward to starting this partnership with Blue Ocean Robotics, which complements our other partnerships very well.”

Preliminary Q3 2017 financial results reports revenue of approx. EUR 253m ($300 million) which represents a gain of approx. 3.4% over Q3 2016. EBITDA was approx. 11.7% in the first nine months of 2017.

Nilfisk competitors include Tennant, Karcher, Vector Technologies, Sumitomo, Discovery Robotics, ICE / Brain Corp, and Taski Intellibot to name just a few.

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