Continued margin improvement and organic growth
Loomis January-March 2012:
Loomis’ operating income (EBITA)¹) for the first quarter 2012 amounted to MSEK 212 (179), including exchange rate effects of MSEK 4. The operating margin increased to 7.5 percent compared to 7.1 percent during the corresponding quarter in 2011.
Revenue for the period amounted to MSEK 2,822 (2,526). Organic growth was 3 percent (0) and real growth amounted to 9 percent (1).
Income before taxes amounted to MSEK 190 (152) and net income after taxes amounted to MSEK 133 (103).
Cash flow from operating activities amounted to MSEK 58 (77), which is equivalent to 27 percent (43) of operating income (EBITA).
Earnings per share before dilution were SEK 1.82 (1.41), and Earnings per share after dilution were SEK 1.76 (1.36).
- “The organic growth for the quarter means that the growth has been positive for four consecutive quarters. This is, among other things, an effect of the somewhat strengthened market conditions for cash handling services in Europe as well as in the USA. One of the reasons for this improvement is that the amount of cash in circulation continues to increase in most of the countries in which we operate. This information is supported by new statistics for 2011 published by the European Central Bank and the Federal Reserve”, states Loomis’ President and CEO, Lars Blecko.
He also states that the improvement of MSEK 33 in operating result (EBITA) is mainly attributable to increased revenue, the continued positive earnings effect from the Pendum acquisition as well as the continuous work with efficiency improvements. Another important contribution to the improvement is that the number of branches achieving the Group´s profitability target continues to increase and was one percentage point higher during the quarter than during the equivalent quarter in 2011.
-“It is gratifying that we in the beginning of April could announce the acquisition of the cash handling company, Vigencia, in Argentina. Our strategy contains a presence in Latin America and this is our first acquisition in the region. We see Latin America as an interesting market with good growth potential and a market that currently has a low degree of outsourcing of cash handling services”, states Lars Blecko.
¹) Earnings Before Interest, Taxes, Amortization of acquisition-related intangible fixed assets, Acquisition-related costs and Items affecting comparability.
President and CEO
Cell number: +46 70 641 49 10
Loomis offers safe and effective comprehensive solutions for the distribution, handling and recycling of cash for banks, retailers and other commercial companies via an international network consisting of almost 400 branches in 16 countries. Loomis has 20 000 employees and annual revenue of 11 billion Swedish kronor. Loomis is a midcap listed company on NASDAQ OMX Stockholm.
Loomis AB discloses the information provided herein pursuant to the Swedish Securities Market Act and/or the
Financial Instruments Trading Act. The information was submitted for publication at 3.00 p.m. (CET) on May 8th, 2012.