Loomis publishes the interim report for January - September 2020 and removes the revenue target for 2021
SOLNA, Sweden, Nov. 5, 2020 /PRNewswire/ --
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 activities(2) 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 activities(2 )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.
(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.
CONTACT:
Anders Haker
Chief Investor Relations Officer
Mobile: +1 281 795 8580
E-mail: anders.haker@loomis.com
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The following files are available for download:
https://mb.cision.com/Main/51/3231726/1330946.pdf Loomis publishes the interim
report for January âEUR"
September 2020 and removes
the revenue target for 2021
https://mb.cision.com/Public/51/3231726/8e956cc54c4b5eb9.pdf Loomis Interim Report
January-September 2020 -
press release
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SOURCE Loomis AB
