Loomis divests general cargo services
Loomis has entered into an agreement to divest its general cargo services to Rhenus Alpina AG. The general cargo services were acquired as part of the VIA MAT acquisition in 2014. The divested operations offer international cargo services by air, sea, road and rail and is deemed none-core for Loomis.
The closing date is July 1, 2016. The divested operations had an annual revenue in 2015 of CHF 57 million (equivalent to SEK 499 million) and an operating income (EBITA)1) of CHF 1 million (equivalent to SEK 9 million). The general cargo services have been reported in segment International Services.
A profit on sale before tax of approximately CHF 9 million will be realized and reported as an item affecting comparability in the third quarter of 2016.
1) Earnings before Interest, Taxes, Amortization of acquisition-related intangible fixed assets, Acquisition-related costs and revenue and Items affecting comparability.
July 1st, 2016
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Loomis offers secure and effective comprehensive solutions for the distribution, handling, storage and recycling of cash and other valuables. Loomis’ customers are banks, retailers and other companies. Loomis operates through an international network of more than 400 branches in more than 20 countries. Loomis employs more than 23,000 people and had revenue in 2015 of SEK 16 billion. Loomis is listed on Nasdaq Stockholm Large-Cap list.