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Loomis Interim Report January – June 2023

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Historically high revenues and strong operating income

For the first quarter ever, Loomis reported revenues above SEK 7 billion, with organic growth for all segments. The operating profit (EBITA) increased to SEK 752 million (620), corresponding to a margin of 10.6 percent (10.0). The margin was positively impacted by increased volumes, higher efficiencies and price adjustments but was offset by continued inflationary pressure and recruitment-related costs.

 

Comments on quarter 2

  • Revenue for the second quarter was SEK 7,072 million (6,217). Real growth was 8.3 percent (17.7) of which organic growth was 7.7 percent (16.1).
  • Operating income (EBITA)1) for the quarter was SEK 752 million (620) and operating margin (EBITA) was 10.6 percent (10.0).
  • Operating income (EBIT) before items affecting comparability for the quarter was SEK 709 million (539) and operating margin (EBIT) before items affecting comparability was 10.0 percent (8.7).
  • Income before taxes for the quarter was SEK 552 million (438) and net income was SEK 357 million (296).
  • Earnings per share before dilution for the quarter were SEK 5.02 (4.02) and after dilution 5.01 (4.02).
  • Cash flow from operating activities2) amounted to SEK 273 million (644) in the quarter, equivalent to 36 percent (104) of operating income (EBITA).
  • Loomis takes strategic step by entering into an agreement to acquire Cima S.p.A.

 1) Earnings Before Interest, Taxes, Amortization of acquisition-related intangible fixed assets, Acquisition-related costs and revenue and Items affecting comparability.  

2) Cash flow from operating activities is exclusive of impact from IFRS 16.  

 

 

This press release is also available on the company’s website, www.loomis.com

July 21, 2023

Jenny Boström
Head of Sustainability and IR

Mobile: +46 79 006 45 92
Email: jenny.bostrom@loomis.com

Loomis offers secure and effective comprehensive solutions for managing payments, including the distribution, handling, storage and recycling of cash and other valuables. Loomis’ customers are mainly financial institutions and retailers.Loomis operates through an international network of around 400 branches in more than 20 countries. Loomis employs around 25,000 people and had revenue in 2022 of more than SEK 25 billion. Loomis is listed on Nasdaq Stockholm Large-Cap list.

This information is information that Loomis AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 8.00 a.m. CEST on July 21, 2023.
 

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