Loomis : Interim Report January-September 2020 - press release

Press release

Loomis publishes the interim report for January - September 2020 and removes the revenue target for 2021

Third quarter 2020

Revenue for the third quarter amounted to SEK 4,709 million (5,492). Real growth was -7 percent (6) and organic growth was -9 percent (3).

Loomis operating income (EBITA)1) amounted to SEK 517 million (737) and the operating margin was 11.0 percent (13.4). Excluding Loomis Pay, the operating margin was 11.5 percent (13.4).

Income before taxes amounted to SEK 361 million (660) and income after taxes was SEK 246 million (492).

Earnings per share before and after dilution amounted to SEK 3.27 (6.54).

Cash flow from operating activities2) amounted to SEK 587 million (712), equivalent to 117 percent (99) of operating income (EBITA).

The ongoing coronavirus pandemic had an overall negative impact on revenue and operating income during the quarter. The significant differences compared to the third quarter of 2019 are related to the pandemic.

Due to the coronavirus pandemic, several restructuring programs have been initiated in Europe to improve efficiency and increase the operating margin.

Nine months 2020

Revenue for the period amounted to SEK 14,277 million (15,702). Real growth was -8 percent (5) and organic growth was -10 percent (3).

Loomis operating income (EBITA)1) amounted to SEK 1,308 million (1,908) and the operating margin was 9.2 percent (12.2). Excluding Loomis Pay, the operating margin was 9.4 percent (12.2).

Income before taxes amounted to SEK 893 million (1,658) and income after taxes was SEK 613 million (1,239).

Earnings per share before and after dilution amounted to SEK 8.15 (16.47).

Cash flow from operating activities2) amounted to SEK 1,856 million (1,732), equivalent to 147 percent (93) of operating income (EBITA).

Overall, the ongoing coronavirus pandemic had a limited negative impact on revenue and operating income during the first quarter. In the second and third quarters both revenue and operating income were affected by the pandemic.

Due to the ongoing corona pandemic, Loomis believes the previously communicated revenue target, of SEK 24 billion for 2021, will likely not be achieved. As the market conditions for 2021 are still uncertain, due to the pandemic, Loomis has decided to remove the revenue target.

The Board of Directors proposes a dividend of SEK 5.50 per share (10.00) for 2019.

Loomis offers safe and effective comprehensive solutions for the distribution, handling, storage and recycling of cash and other valuables. Loomis customers are banks, merchants and other operators. Loomis operates through an international network of more than 400 branches in more than 20 countries. Loomis employs around 25,000 people and had revenue in 2019 of SEK 21.0 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. The information was submitted for publication, through the agency of the contact person set out below, at 8.00 a.m. CET on November 5, 2020.

Loomis AB, Drottninggatan 82, 4th floor, P.O Box 702, SE-101 33 Stockholm, Sweden

Switchboard: [phone], www.loomis.com

1. Earnings Before Interest, Taxes, Amortization of acquisition-related intangible fixed assets, Acquisition-related costs and revenue and Items affecting comparability.
2. The key financial number and the ratio are reported exclusive of impact from IFRS 16.

November 5, 2020

Anders Haker

Chief Investor Relations Officer

Mobile: [phone]

E-mail:[e-mail]

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