Coor Service Management : Read the report

Interim Report: January-September 2023

Action program to strengthen profitability

Third quarter of 2023

• Net sales in the third quarter amounted to SEK 3,016 (2,766) million. Organic growth was 3 per cent and growth from acquisitions 4 per cent, while exchange rate effects accounted for 3 per cent.
• Adjusted EBITA amounted to SEK 126 (122) million and the operating margin was 4.2 (4.4) per cent.
• EBIT was SEK 78 (70) million. Profit after tax was SEK 28 (39) million.
• Earnings per share were SEK 0.3 (0.4).
• Cash conversion for the most recent 12-month period amounted to 93 (91) per cent.
• Leverage in relation to adjusted EBITDA was 2.4 (1.8).

Full period January-September 2023

• Net sales for the full period amounted to SEK 9,156 (8,701) million. Organic growth was 1 per cent and growth from acquisitions 2 per cent, while exchange rate effects accounted for 2 per cent.
• Adjusted EBITA amounted to SEK 439 (481) million and the operating margin was 4.8 (5.5) per cent.
• EBIT was SEK 278 (312) million. Profit after tax was SEK 125 (203) million.
• Earnings per share were SEK 1.3 (2.1).

Group earnings summary

	Jul-Sep		Jan-Sep		Rolling	Jan-Dec
	2023	2022	2023	2022	12 mth.	2022
Net sales, SEK m	3,016	2,766	9,156	8,701	12,244	11,789
Organic growth, %	3	1	1	7	1	5
Acquired growth, %	4	10	2	11	3	9
FX-effects, %	3	3	2	2	2	3
Adjusted EBITA, SEK m	126	122	439	481	592	634
Adjusted EBITA-margin, %	4.2	4.4	4.8	5.5	4.8	5.4
EBIT, SEK m	78	70	278	312	374	408
Income for the period, SEK m	28	39	125	203	179	257
Cash conversion, %	148	136	74	77	93	94
Earnings per share, SEK	0.3	0.4	1.3	2.1	1.9	2.7

See page 31 for definitions and calculations of key performance indicators. Items affecting comparability are presented in Note 3

CEO'S COMMENTS

Action program to strengthen profitability

Coor continues to grow during the third quarter and sales amount to SEK 3,016 million, corresponding to growth of 9 per cent. Over the last 12 months, the company has generated an operating margin of 4.8 per cent, which is not in line with the margin target of 5.5 per cent. Coor is therefore implementing an action program to accelerate profitability towards the financial target.

Program for margin improvement

Coor's growth journey over the last years has been highly successful even though a few large contracts have been ended. However, the growth in combination with external factors such as high inflation and rising interest rates has put pressure on the company's operating margin and cash flow.

To accelerate progress towards the company's long-term margin targets, Coor is implementing an action program to realize economies of scale and synergies to a greater degree, and to retain the company's position as a market leader in facility management in the Nordic region. This action program includes extended cost control, staff reductions through strengthened harmonisation and industrialisation of underlying processes with a focus on cleaning services, property management and food & beverages as well as an increased focus on procurement to better utilise Nordic economies of scale. The action program started in Denmark during the second quarter and is now being initiated in the remaining countries and staff functions.

Once fully implemented, the entire action program is expected to have an annual effect of approximately SEK 100 million. The total estimated cost of the program is approximately SEK 40 million, the majority of which will be included in earnings for the fourth quarter when the staff reductions are put into effect.

Decreased leverage

Leverage in the third quarter fell to 2.4x from the preceding quarter, driven by cash conversion that remains strong at 93 per cent. This level is very much in line with the company's target of a leverage below 3.0x. In a business environment with increasing interest expenses, where satisfactory dividend levels remain a priority, we are focusing on continued stable cash conversion while taking a more cautious approach to acquisitions. Along with measures to improve the margin, our ambition is to further reduce our leverage.

Activities in the customer portfolio

In late August, Coor won a new IFM contract with Swedbank. Coor will deliver broad, integrated services for all of Swedbank's offices in Sweden. The duration of the contract is four years with an option to extend, at an annual value of

approximately SEK 220 million including estimates for variable project volumes. Activities to start up the contract on December 15 are progressing well.

Coor signs a new partnership agreement with ATP Ejendomme in Denmark. Through this partnership, ATP Ejendomme will offer its tenants customised facility management services.

During the third quarter, Coor secured a five-year extension of its contract with Aibel in Norway. The value of the contract is approximately SEK 200 million over the term of the contract, excluding additional variable project volumes. The agreement encompasses services such as cleaning, reception, restaurants and property management.

The integration of the acquired Swedish company Skaraborgs Städ is proceeding as planned and adds expected value.

Coor ended its delivery to Ericsson at the end of August but will continue delivering a smaller volume of advanced services to Ericsson until a new supplier can take over.

Satisfied customers

Coor conducts an annual customer satisfaction survey with the help of an external party, and this year we have once again achieved a strong index of 71, which is in line with the company's target. The results from the customer survey provide valuable input for the future with regard to the development of our customer relationships as well as Coor's internal development as a company.

Favorable outlook, with a focus on profitability

We are seeing strong interest and demand in the market as well as new business opportunities throughout the Nordic region. I believe that we have good prospects of achieving growth, profitability and cash flow in line with our targets over time. The coming year, focus will be on profitability and cash flow.

Stockholm, 25 October 2023

AnnaCarin Grandin

President and CEO, Coor

COOR SERVICE MANAGEMENT HOLDING AB │INTERIM REPORT: JANUARY-SEPTEMBER 2023

Our operations in three dimensions

Delivering on Coor's strategy and developing our business in line with our vision requires a long- term approach to sustainability. Coor strives to conduct its business in a responsible manner. This means that we create value in three dimensions: business responsibility, social responsibility and environmental responsibility. Coor transparently reports on its progress toward its long-term targets in all three dimensions.

Business responsibility

Focus areas

Target

Coor is to achieve long-term business sustainability through sustained growth and profitability over time. At the same time, we are to maintain strong business ethics and sound customer relationships.

Organic growth	4-5%
Adjusted EBITA	~5.5%
margin
Cash conversion	>90%
Capital structure	<3.0x
Dividend	~50% of adjusted
	net profit

Customer satisfaction

≥70

Social responsibility

Coor is to contribute to a better society and social development by acting as a responsible, inclusive and stimulating employer.

Employee motivation	≥70
TRIF	≤3.5
Equal opportunities	50% female
	managers

Environmental responsibility

Coor is to contribute to a better environment by actively reducing its environmental impact and the resources used by the company and its customers.

Reduced Scope 1 and	-50% by 2025 and
2 emissions	-75% by 2030
SBTi signatory	75% by 2026
suppliers
Reduced emissions	-30% by 2025
from food &
beverages

COOR SERVICE MANAGEMENT HOLDING AB │INTERIM REPORT: JANUARY-SEPTEMBER 2023

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Business responsibility

Net sales and profit

	Jul-Sep	Jan-Sep
Key performance indicators	2023	2022	2023	2022
Net sales, SEK m	3,016	2,766	9,156	8,701
Organic growth, %	3	1	1	7
Acquired growth, %	4	10	2	11
FX effects, %	3	3	2	2
Adjusted EBITA, SEK m	126	122	439	481
Adjusted EBITA-margin, %	4.2	4.4	4.8	5.5
EBIT	78	70	278	312
EBIT-margin, %	2.6	2.5	3.0	3.6
Number of employees (FTE)	10,896	10,192	10,896	10,192

Third quarter (July-September)

Sales increased by 9 per cent compared with the year-earlier period. Organic growth was 3 per cent. Net growth was positively impacted by newly started contracts such as with Saint Göran Hospital and Alstom in Sweden as well as Studentsamskipnaden i Oslo and IKEA in Norway. The ended contract with Ericsson in Sweden had a negative impact. Acquired growth for the quarter was 4 per cent and pertained to the acquisition of Skaraborgs Städ in Sweden. Exchange rate effects were positive and amounted to 3 per cent.

Operating profit (adjusted EBITA) amounted to SEK 126 (122) million. The operating margin (adjusted EBITA margin) for the quarter was 4.2 (4.4) per cent. The operating margin in the Swedish operation was negatively impacted by the union-agreedlow-wage initiative and the discontinued state subsidy for social security contributions for young employees, which have not yet fully been transferred to customers via indexation. The lost contract with Ericsson ended in August, and negatively impacts the comparison with the year-earlier period. This effect was amplified during the quarter by lost synergies with other operations, which the Swedish operation is gradually managing. The operation in Norway displayed poor profitability in the quarter, driven by initially high staffing costs in newly started contracts as well as increased raw materials costs for food & beverages.

EBIT totalled SEK 78 (70) million. In addition to changes in operating profit (adjusted EBITA), the change compared with the previous year is primarily due to fewer items affecting comparability.

Net sales (SEK m)

3,000							12,000
2,500							10,000
2,000							8,000
1,500							6,000
1,000							4,000
500							2,000
0							0
Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3
-21	-22	-22	-22	-22	-23	-23	-23
		Quarterly				LTM

Adjusted EBITA (SEK m)

200							800
							700
150							600
							500
100							400
							300
50							200
							100
0							0
Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3
-21	-22	-22	-22	-22	-23	-23	-23
		Quarterly			LTM

Net sales by	Net sales by	Net sales by	Net sales by
country (LTM)	type of contract (LTM)	service category (LTM)	customer segment (LTM)

Sweden, 53%	IFM, 57%	Cleaning, 39%	Public, 32%
Denmark, 24%	FM-Services, 43%	Property, 29%	Manufacturing, 21%
Norway, 17%		Workplace, 16%	Energy, 14%
Finland, 6%		Food & Beverage, 12%	IT & Telecom, 9%
	Real estate & Construction, 10%
		Other, 4%
		Other, 14%
COOR SERVICE MANAGEMENT HOLDING AB │INTERIM REPORT: JANUARY-SEPTEMBER 2023		4 (32)

Full period (January-September)

Sales increased 5 per cent compared with the year-earlier period. Organic growth was 1 per cent and growth from acquisitions 2 per cent, while foreign exchange effects accounted for 2 per cent.

Operating profit (adjusted EBITA) amounted to SEK 439 (481) million and the operating margin (adjusted EBITA margin) was 4.8 (5.5) per cent. EBIT was SEK 278 (312) million.

Financial net and profit after tax

Net financial items amounted to SEK -104(-49) million, an increase from the year- earlier period. The increase compared with the previous year is linked to higher liabilities to credit institutions and a higher interest rate compared with the preceding year.

The tax expense was SEK -49(-60) million, corresponding to 28 (23) per cent of profit before tax. The higher tax rate compared with the previous year is mainly linked to higher interest expenses with limited tax deductibility in Sweden. Profit after tax was SEK 125 (203) million.

Financial position

Consolidated net debt at the end of the period was SEK 1,987 (1,584) million. The company's leverage, defined as net debt to adjusted EBITDA (rolling 12

months), was 2.4 (1.8) at the end of the period, which is in line with the Group's target of a leverage below 3.0.

Equity at the end of the period amounted to SEK 1,829 (2,103) million, and the equity/assets ratio was 25 (30) per cent. During the second quarter, the company paid an ordinary dividend of SEK 228 million to shareholders.

At the end of the period cash and cash equivalents amounted to SEK 471 (504) million and the Group had undrawn credit lines totalling SEK 620 (650) million.

Cash flow

Operating cash flow varies from one quarter to the next. The key parameter to follow is the rolling 12-month change in working capital. During the last 12 months, working capital declined by SEK 62 (7) million, driven by ongoing focused efforts across the entire organisation.

The most important key performance indicator for Coor's cash flow is cash conversion, which is defined as the ratio of a simplified operating cash flow to adjusted EBITDA. Cash conversion for the most recent 12-month period amounted to 93 (91) per cent, which is in line with the Group's target of a cash conversion of over 90 per cent.

		Jan-Sep
Financial net (SEK m)		2023	2022
Net interest, excl leasing		-84	-38
Net interest, leasing		-6	-6
Borrowing costs		-3	-2
Exchange rate differences		1	2
Other		-11	-5
Total financial net		-104	-49
Profit before tax		174	263
Tax		-49	-60
Income for the period		125	203
	30 Sep	31 Dec
Net debt (SEK m)	2023	2022	2022
Liabilities to credit
institutions	1,122	847	848
Corporate bond	1,000	1,000	1,000
Leasing, net	350	279	301
Other	-15	-39	-36
	2,458	2,088	2,113
Cash and cash
equivalents	-471	-504	-484
Net debt	1,987	1,584	1,629
Leverage, times	2.4	1.8	1.9
Equity	1,829	2,103	1,938
Equity/assets ratio, %	25	30	27
	Rolling
	12 mth.	Jan-Dec
Cash conversion	2023	2022	2022
(SEK m)
Adjusted EBITDA	828	869	851
Change in net working
capital	62	7	47
Net investments	-122	-81	-95
Cash flow for
calculation of cash	768	794	803
conversion
Cash conversion, %	93	91	94

Cash conversion, %					Leverage, times
140								3.5
120								3.0
100								2.5
80								2.0
60								1.5
40								1.0
20								0.5
0								0.0
							Q3	Q3	Q3	Q3	Q3
Q3	Q3	Q3	Q3	Q3
-19	-20	-21	-22	-23	-19	-20	-21	-22	-23
		Cash conversion (LTM)		Target				Leverage, times		Target

COOR SERVICE MANAGEMENT HOLDING AB │INTERIM REPORT: JANUARY-SEPTEMBER 2023

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Customer relationships

Customer satisfaction

Every year, Coor conducts a customer survey with the help of an external research firm with the aim of monitoring its performance as a service provider. The number of respondents to the 2023 customer satisfaction survey totalled 1,068, which is in line with the preceding year. The results remain at a high level of 71 (71), which is in line with the company's target of 70 or higher. The customer satisfaction survey also measures our Net Promoter Score (NPS), which remains at a high level of +11. From a benchmarking perspective, values of between -10 and +10 are considered good.

The results from the customer survey provide valuable input for the future, with regard to the development of our customer relationships as well as Coor's internal development as a company.

As a supplement to the annual survey, we continuously follow up on customer satisfaction. These qualitative and quantitative follow-ups are customised based on the specific customer and focus on both service delivery and customer relations.

Quantitative surveys are carried out using pulse surveys, for example.

Customer satisfaction index

100 80 60 40 20 0

2019	2020	2021	2022	2023
Customer satisfaction		Target

Significant events during the quarter

• On 29 August 2023, it was announced that Coor had signed a new IFM contract with Swedbank. The contract extends for four years with an option to extend, at an annual value of approximately SEK 220 million including estimates for variable annual project volumes.

Significant events after the end of the period

• There were no significant events to report after the end of the period.

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Distribution of employees (FTE at the end of the period)

Social responsibility

Coor's most important asset is its employees. Coor aims to have committed and motivated employees that are treated fairly and respectfully and can develop within the company by being provided with equal opportunities. Coor works actively to promote the well-being of its employees and a safe work environment free from work-related injuries and long-term sick leave. The aim is that our work will contribute positively to the development of society

through central and local initiatives.

Organisation and employees

At the end of the period, the number of employees was 13,379 (12,672), or 10,896 (10,192) on a full-time equivalent basis. In the second quarter, about 800 employees were added through the acquisition of Skaraborgs Städ.

Equal opportunities

Coor believes firmly that a diversity of personalities, backgrounds, experiences and knowledge creates the right conditions for the company's continued success. As part of its efforts to ensure diversity, Coor clearly strives for an equal gender distribution among its managers. At the end of the period, the distribution of men and women in managerial positions was in line with the company's ambition.

Employee motivation

Sweden, 54%

Denmark, 22%

Norway, 14%

Finland, 9%

Group functions, 1%

Equal opportunities

(gender distribution of managers at the end of the period)

Each year, Coor carries out an employee survey with the help of an external research firm. The survey gives employees an opportunity to provide anonymous feedback on what it is like to work at Coor. The results of the survey are important for our efforts to become an even more attractive employer. The 2023 survey was conducted in the second quarter. The survey was answered by 77 (79) per cent of all employees and showed that our Employee Motivation Index (EMI) remains very high at 76 (76), which more than meets the company's target of 70 or higher. We also measure our Employee Net Promoter Score (eNPS), which remains at a high level of +25. From a benchmarking perspective, values over 0 are considered good.

Health and safety

Coor has a clear vision to achieve zero work-related injuries, and it goes without saying that all employees should have a safe work environment. Managers and employees take responsibility for preventing and avoiding injuries. All employees are encouraged to report observed risks. Risk observations, incidents and injuries are reported directly to the relevant manager, after which a follow-up and analysis of preventive measures is conducted. The results are followed up and analysed at the country and Group level on an ongoing basis.

Systematic and ongoing work is taking place to further strengthen the culture of security work and achieve established targets through training initiatives and campaigns. One example is Coor's Life Saving Rules, in which we highlight our eight most common risk areas and describe how we will act to avoid injuries. Our Life Saving Rules can be compared with a Code of Conduct for health and safety.

Coor's medium-term target is for the Group's total recorded injury frequency rate (TRIF) to be less than 3.5. For the third quarter of 2023, the Group's TRIF amounted to 6.6 (7.9) on a rolling 12-month basis, which is a clear improvement compared with the year-earlier quarter and also a reduction compared with the

Female, 52%

Male, 48%

Employee motivation index (EMI)

100 80 60 40 20 0

2019	2020	2021	2022	2023
	EMI		Target

Total recorded injury frequency (TRIF)

15

10

5

0

2019

2020

2021

2022 Q3 LTM,

outcome for full-year 2022.

TRIF Target

2023

COOR SERVICE MANAGEMENT HOLDING AB │INTERIM REPORT: JANUARY-SEPTEMBER 2023

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Environmental responsibility

Coor aims to promote responsible consumption and reduced emissions by conducting structured and proactive environmental work and actively minimising our customers' environmental impact.

Net-Zero 2040 strategy under development

In February 2023, Coor's Board of Directors resolved to commit to Net-Zero emissions of greenhouse gases (GHG) in accordance with the Science Based Targets initiative by 2040. This is ten years earlier than the Science Based Targets initiative's (SBTi) standard requirement for companies. To achieve Net-Zero, Coor needs to eliminate GHG emissions in its own operations and reduce emissions throughout the value chain by 90 per cent compared with the baseline (2018). The target has been sent for validation by the SBTi while Coor has commenced the transition.

Emissions from operations are divided into Scope 1 (direct emissions from our vehicle fleet), Scope 2 (indirect emissions from premises where Coor has operational control over energy consumption) and Scope 3 (mainly emissions from purchased goods and services). Coor calculates GHG emissions according to the definitions and guidelines adopted by the GHG Protocol.

Scope 1 and 2

Coor's aim is to reduce its absolute Scope 1 and 2 emissions by 75 per cent by 2030 compared with the baseline year (2018). The interim target is to reduce emissions by 50 per cent by 2025.

Emissions at the end of the third quarter of 2023 (3,473 tCO2e, LTM) increased by 1 per cent compared with 2018 (3,450 tCO2e). Total Scope 1 and 2 emissions have declined 6 per cent compared with full-year 2022.

Scope 1 - Our vehicle fleet

Scope 1 emissions are generated by our vehicle fleet and machinery. Coor primarily uses three types of vehicles: service vehicles, company cars for business use and company cars for private use. The Group's long-term aim of having a fossil-free vehicle fleet requires a combination of increased electrification and a transition to HVO fuel wherever the use of electric vehicles is not yet possible. The availability of HVO varies between countries. For example, it is not possible to use HVO in Norway, and in our other countries, its availability is limited outside of major cities. In parallel with the transition to an electrified vehicle fleet, the operations and their dedicated fleet managers are working actively with the rotation of the existing fleet to optimise the phase out of fossil-fuel vehicles.

Emissions (LTM) in the third quarter decreased compared with both the first and second quarters. Even though we have seen an absolute increase of 17 per cent in greenhouse gas emissions from the vehicle fleet since 2018, we are seeing that increase fall over time and the margin for the base year 2018 decreasing. This increase is largely a result of challenges related to infrastructure for electric vehicles, which varies between the Nordic countries and between cities and the countryside. Coor is taking measures to improve the infrastructure for charging where we have the opportunity to do so. The combination of the infrastructure for electric vehicles, long delivery times for new electric vehicles and high growth in the company resulting in a larger fleet has led to an increase in total emissions. The

CO2e from our vehicles and premises (Scope 1 and 2)

5,000 4,000 3,000 2,000 1,000 0

2018	2019	2020	2021	2022	Q3
					LTM,
	Scope 2, tCO2e		2023
	Scope 1, tCO2e
	Target 2025

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acquisition of Skaraborgs Städ encompassed a total of approximately 180 vehicles, of which a large share comprises petrol and diesel vehicles that are included in the figures as of the third quarter.

Scope 2 - Our premises

Scope 2 measures emissions generated from energy consumption in the form of electricity, heating and cooling in the premises where Coor has operational control. The Group's target is 100 per cent renewable electricity and entails that the 2018 emissions levels from heating and cooling may not be exceeded, despite the company's growth. Measurements are taken annually and were last taken in Q4 2022. Through energy-enhancement measures and a transition to renewable energy, Coor has reduced the absolute level of tCO2e by 57 per cent compared with base year 2018.

Scope 3

Most of Coor's climate impact is attributable to purchased goods and services used in our service delivery (Scope 3), which are mainly related to food & beverages. To be able to analyse the climate impact from service deliveries, Coor has developed a climate calculation tool to support more data-driven decisions when it comes to reducing Coor's climate impact. To achieve our targets in the area, Coor is primarily working with activities that target the supply chain and reducing emissions in food & beverages.

Scope 3 - The supply chain

Coor's target is for 75 per cent of emissions from purchased goods and services to come from suppliers who have had their targets approved by the SBTi or an equivalent body. This target is to be achieved by 2026.

Since this is an important factor for Coor when selecting suppliers, a supplier dialogue has been initiated where suppliers are challenged to follow the ambition of limiting global warming to 1.5 °C and committing to the SBTi. A measurement showed that 12 per cent of Coor's suppliers had been validated by the SBTi at the end of the third quarter of 2023, an increase of 8 percentage points compared with full-year 2022.

Scope 3 - Food & beverages

Coor provides restaurant and café services across the Nordic region, which makes Coor a major buyer of food. Of Coor's emissions in the base year 2018, approximately 40 per cent of greenhouse gases came directly from these operations.

Coor's goal is to reduce emissions from food & beverages by 30 per cent by 2025 compared with the base year 2018. This is being achieved in part through climate-smart menu planning, which has reduced emissions by 18 per cent compared with the base year. For the third quarter of 2023, the value was 2.15 (2.21) kgCO2e/kg.

COOR SERVICE MANAGEMENT HOLDING AB │INTERIM REPORT: JANUARY-SEPTEMBER 2023

"Our ambition is to

contribute to keeping global

warming

under 1.5 °C"

CO2e from food & beverages (Scope 3)

3.0

2.5

2.0

1.5

1.0

0.5

0.0

2018	2019	2020	2021	2022	Q3 LTM,
	kgCO2e/kg of purchased food	2023
	Target 2025

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Sweden

	Jul-Sep	Jan-Sep
Key performance indicators	2023	2022	2023	2022
Net sales, SEK m	1,564	1,478	4,830	4,689
Organic growth, %	-1	6	-1	10
Acquired growth, %	7	21	4	22
FX-effects, %	0	0	0	0
Adjusted EBITA, SEK m	120	124	434	471
Adjusted EBITA-margin, %	7.7	8.4	9.0	10.0
Number of employees (FTE)	5,842	5,357	5,842	5,357

Third quarter (July-September)

During the third quarter, sales in the Swedish operations increased by

6 per cent. Organic growth was -1 per cent and growth from acquisitions was 7 per cent. Organic growth was positively impacted by new contracts, such as those with Saint Göran Hospital and Alstom, while lower variable volumes in property and the ended contract with Ericsson had a negative impact.

Acquired growth was attributable to the acquisition of Skaraborgs Städ that took place on 9 May 2023.

During the quarter, operating profit (adjusted EBITA) decreased by 3 per cent year-on-year to SEK 120 (124) million. The operating margin (adjusted EBITA margin) was 7.7 (8.4) per cent. The operating profit was positively impacted by newly started contracts and the acquisition of Skaraborgs Städ. The delivery to Ericsson ended in August, and negatively impacted the comparison with the year-earlier period. This effect was amplified during the quarter by lost synergies with other operations, which the operation is gradually managing. Furthermore, operating profit and the margin were negatively impacted by the union-agreedlow-wage initiative and the discontinued state subsidy for social security contributions for young employees. These effects have not yet fully been transferred to customers via indexation.

During the third quarter, an IFM contract was signed with Swedbank. The duration of the contract is four years with an option to extend, at an annual value of approximately SEK 220 million including estimates for variable annual project volumes.

Full period (January-September)

During the full period, sales in the Swedish operations grew by 3 per cent, with negative organic growth accounting for -1 per cent and acquired growth accounting for 4 per cent.

Operating profit (adjusted EBITA) for the full period decreased by 8 per cent year-on-year to SEK 434 (471) million. The operating margin (adjusted EBITA margin) was 9.0 (10.0) per cent.

53%

share of

consolidated

sales

Net sales (SEK m)

1,800							7,000
1,500			'				6,000
1,200						5,000
						4,000
900
						3,000
600
						2,000
300
						1,000
0							0
Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3
-21	-22	-22	-22	-22	-23	-23	-23
	Quarterly				LTM

Adjusted EBITA (SEK m)

200								800
150								600
100								400
50								200
0									0
	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3
-21	-22-22	-22	-22	-23-23-23
			Quarterly			LTM

COOR SERVICE MANAGEMENT HOLDING AB │INTERIM REPORT: JANUARY-SEPTEMBER 2023

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