Loomis during the first six months of 2010:Well on the way to the margin goal

Loomis operating income (EBITA)1) for the first six months of 2010 amounted to MSEK 379, including exchange rate effects of MSEK -39, compared with MSEK 368 for the equivalent period in 2009. Operating margin increased to 6.8 (5.9) percent.

Revenue decreased to MSEK 5,577 (6,205) during the period. Organic growth was –2 (-2) percent.

Income before taxes amounted to MSEK 316 (297) and income after taxes amounted to MSEK 207 (208).

Cash flow from operating activities amounted to MSEK 481 (288), equivalent to 127 (78) percent of operating income (EBITA).

Earnings per share before dilution were SEK 2.84 (2.85), and Earnings per share after dilution were SEK 2.74 (2.85).

Second quarter
Operating income (EBITA) for the second quarter amounted to MSEK 198 (183) and the operating margin was 7.0 percent (6.1).

Revenue amounted to MSEK 2,806 (3,018) during the second quarter.

Income before taxes for the second quarter amounted to MSEK 167 (148) and income after taxes amounted to MSEK 103 (103).

Cash flow from operating activities amounted to MSEK 323 (193) equivalent to 163 (106) percent of operating income (EBITA).

Earnings per share before dilution were SEK 1.41 (1.42), and Earnings per share after dilution were SEK 1.36 (1.42).

-The positive development of the operating margin is primarily a consequence of the efficiency improvement program which has been undertaken throughout the Group in recent years. The significantly improved cash flow is mainly attributable to our concerted efforts to establish effective control over customer credit periods and over investments, states Loomis President and CEO, Lars Blecko.

Loomis’ most important short-term financial goal for the full year 2010, an operating margin of 8 percent, remains.

1) Earnings Before Interest, Taxes and Amortization of acquisition-related intangible fixed assets. 

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 12 European countries and in the US. Loomis has 20 000 employees and a turnover of 12 billion Swedish kronor. Loomis is a mid-cap 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 8.00 a.m. (CET) on July 30th, 2010.

For more information, please contact:
Lars Blecko, President and CEO
+46 70 641 49 10