Our performance in the first quarter was strong. Revenue reached SEK 7.5 billion despite significant currency headwinds and we achieved an organic growth of 5.9 percent and a currency-adjusted growth of 9.3 percent. Both segment USA and segment Europe and Latin America contributed to the positive development with notably strong performance within our International and Automated Solutions business lines. We increased our EBITA margin by 1 percentage point year-over-year to 12.6 percent by successfully growing our business and executing our operational efficiency measures.

We continue to have a strong operating cash flow and balance sheet, which has enabled us to invest in the business, pursue acquisitions, and deliver the highest dividend in our history to shareholders. The cash flow from operating activities in relation to our EBITA for the latest twelve months was 95 percent.

Comments on quarter 1

• Revenue for the quarter was SEK 7,491 million (7,665). The currency-adjusted growth was 9.3 percent (4.5), of which organic growth was 5.9 percent (4.4) and acquisitions contributed 3.4 percent (0.1). Including the exchange rate effect, the total growth was -2.3 percent (5.7).
• Operating income (EBITA)¹⁾ for the quarter was SEK 946 million (886) and the operating margin (EBITA) increased to 12.6 percent (11.6).
• Operating income (EBIT) before items affecting comparability for the quarter was SEK 896 million (823)
  and operating margin (EBIT) before items affecting comparability was 12.0 percent (10.7).
• Income before taxes for the quarter was SEK 757 million (531) and net income was SEK 530 million (382).
• Basic earnings per share for the quarter were SEK 7.91 (5.57) and diluted earnings per share were SEK 7.88 (5.56).
• Cash flow from operating activities²⁾ was SEK 797 million (898) in the quarter. The cash flow from operating activities for the rolling twelve months was 95 percent (121) of operating income (EBITA).
• Loomis has set new near-term science-based GHG reduction targets within Scope 1, 2 and 3 which have been validated by the Science Based Targets initiative.
• Loomis enters Peru through the intended acquisition of Hermes Transportes Blindados via a public tender offer.

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. 

For more information, please contact:

Jenny Boström 
Head of Sustainability and IR
ir@loomis.com
+46 79 006 45 92
 

Fredrik Hammarbäck
Media and External Communications Manager
media@loomis.com
+46 76 311 56 29