Record quarter with continued improvement in
operating margin
STOCKHOLM, Oct. 28,
2022 /PRNewswire/ -- Loomis achieved all-time
high revenues and operating profit in the third
quarter. Revenues in Europe
and Latin America have returned to
pre-pandemic levels with the opening of societies and increased
tourism and travel. The automated solutions with SafePoint in the
USA have continued to be
successful. Loomis Pay transaction
volumes continued to grow and the pilot project in Spain developed according to plan.
The record high revenue has been supported by continued strong
organic growth across all geographies, which amounted to 15.5
percent (5.7) in the third quarter, as well as changes in exchange
rates. The Group's operating margin (EBITA%) increased to 12.5
percent (11.3). The margin was positively impacted by increased
volumes but slightly impacted by labor shortages as well as general
supply chain issues. Excluding Loomis
Pay, the operating margin reached 13.1 percent (12.0).
Comments on quarter 3
- Revenue for the quarter was SEK 6,739
million (5,135). Real growth was 15.9 percent (10.8) of
which organic growth was 15.5 percent (5.7).
- Operating income (EBITA) 1) for the period was
SEK 845 million (581) and operating
margin (EBITA) was 12.5 percent (11.3). Excluding Loomis Pay, the operating margin amounted to
13.1 percent (12.0).
- Operating income (EBIT) before items affecting comparability
for the period was SEK 808 million
(540) and operating margin (EBIT) before items affecting
comparability was 12.0 percent (10.5).
- Income before taxes was SEK 708
million (437) and net income was SEK
503 million (297).
- Earnings per share before dilution were SEK 6.92 (3.96) and after dilution 6.91
(3.95).
- Cash flow from operating activities 2) amounted to
SEK 911 million (555), equivalent to
108 percent (96) of operating income (EBITA).
- Björn Züger took office as President and CEO of Loomis
USA during the quarter
- Loomis AB repurchased 704,000 own shares during the third
quarter and the Board of Directors has resolved to continue the
repurchase of own shares that was initiated earlier this year.
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
October 28, 2022
CONTACT:
Jenny Boström
Head of Investor Relations
Mobile: +46 79 006 45 92
Email: jenny.bostrom@loomis.com
The following files are available for download:
https://mb.cision.com/Main/51/3657020/1645069.pdf
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Loomis Interim Report
January-September 2022
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https://mb.cision.com/Public/51/3657020/844411e534075f47.pdf
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Loomis Interim Report
January-September 2022 - press release
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SOURCE Loomis AB