Loomis sets new goals:
- Operating margin of 10 percent (EBITA) by 2014
- Higher dividend policy
- Expansion in Europe and entry into Latin America
Loomis has established a number of new financial and operating goals for the coming four years. Loomis’ financial targets are to achieve an operating margin (EBITA) of at least 10 percent by at latest 2014, a net debt level not exceeding 2.5 times operating income before depreciation and amortization (EBITDA) and operating cash flow amounting to at least 85 percent of operating income (EBITA).
The dividend to shareholders shall be 40-60 percent of net earnings, which increases the span by 10 percentage points. In the two years that Loomis has been a listed company the dividend has been around 40 percent.
Loomis’ new operating goals include the company’s intention to expand into further European countries and to move into Latin America. The latest country into which Loomis has expanded is the Czech Republic, which took place in October this year. In the US Loomis expects to grow through the acquisition of primarily small and medium-sized companies. The latest acquisition, which was a medium-sized organization, was made at the beginning of November.
One of Loomis’ long-term goals is to increase the share of the business consisting of comprehensive solutions rather than just cash transportation. This means that the company aims to look after all its customers’ cash management requirements to a greater extent than previously.
In recent years Loomis has worked intensively on improving efficiency and profitability at its approximately 370 branch offices. One operating goal to be achieved by 2014 is for the proportion of branch offices that do not achieve the profitability target to reduce to 15 percent from the current 27 percent.
President and CEO
Cell number: +46 70 641 49 10
Loomis offers safe and effective solutions for the distribution, handling and recycling of cash for banks, retailers and other commercial companies via an international network consisting of more than 370 branch offices in 13 European countries and in the US. Loomis has 20 000 employees and a turnover of 12 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 08.00 a.m. (CET) on November 17th, 2010.