Loomis Full-Year Report January - December 2022

Rhea-AI Summary

Loomis AB reported a strong finish to 2022, achieving record revenue and operating results. For the full year, revenue reached SEK 25,315 million, marking a real growth of 15.9%. Organic growth stood at 14.4%. The operating margin (EBITA%) remained steady at 11.2% for Q4, with net income of SEK 1,602 million for the year. The Board proposed a dividend of SEK 12.00 per share. However, the labor market challenges and inflation pressures impacted the cost base, affecting margins. The company repurchased 661,000 shares during Q4 and plans to continue repurchases in Q1 2023.

Positive

• Record full-year revenue of SEK 25,315 million, up from SEK 19,723 million.
• Quarterly revenue for Q4 at SEK 6,731 million, a 12.1% increase.
• Full-year organic growth of 14.4%, marking significant expansion.
• Net income for 2022 increased to SEK 1,602 million from SEK 1,104 million.
• Proposed dividend increased to SEK 12.00 per share from SEK 8.50.

Negative

• Operating margin impacted by labor market challenges and inflation.
• Real growth for Q4 at 12.1%, down from 14.9% in the previous quarter.

Strong end to a record year

STOCKHOLM, Feb. 2, 2023 /PRNewswire/ -- Loomis delivered another strong quarter which resulted in the full year 2022 achieving the highest revenue and operating result ever. The record revenue has been supported by continued strong organic growth across all segments. The Group's organic growth increased to 11.8 percent (10.5) in the quarter and 14.4 percent (5.6) for the full year.

The operating margin (EBITA%) amounted to 11.2 percent (11.2) in the quarter and 10.8 percent (9.9) for the full year. The margin was impacted positively by increased volumes but negatively by challenges in the labor market as well as the inflationary pressure on the cost base.

Comments on full-year 2022 and quarter 4

• Revenue for the full-year 2022 was SEK 25,315 million (19,723). Real growth was 15.9 percent (9.9) of which organic growth was 14.4 percent (5.6). Net income full-year 2022, was SEK 1,602 million (1,104).
• Revenue for the fourth quarter was SEK 6,731 million (5,325). Real growth was 12.1 percent (14.9) of which organic growth was 11.8 percent (10.5).
• Operating income (EBITA)¹⁾ for the quarter was SEK 754 million (594) and operating margin (EBITA) was 11.2 ­percent (11.2).
• Operating income (EBIT) before items affecting comparability for the quarter was SEK 745 million (547) and operating margin (EBIT) before items affecting comparability was 11.1 percent (10.3).
• Income before taxes for the quarter was SEK 619 million (500) and net income was SEK 508 million (359).
• Earnings per share before dilution for the quarter were SEK 7.05 (4.82) and after dilution 7.04 (4.82).
• Cash flow from operating activities²⁾ amounted to SEK 584 million (433) in the quarter, equivalent to 80 percent (75) of operating income (EBITA).
• Loomis AB repurchased 661,000 own shares during the fourth quarter. The Board of Directors has resolved to continue to repurchase own shares during the first quarter 2023.
• The Board of Directors proposes a dividend, for 2022, of SEK 12.00 per share (8.50).

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

February 2, 2023

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/51/3707601/1821809.pdf	Loomis Full-year report January-December 2022
https://mb.cision.com/Public/51/3707601/a7054a1c020200b8.pdf	Loomis Full-year report January-December 2022 - press release

 

View original content:https://www.prnewswire.com/news-releases/loomis-full-year-report-january--december-2022-301737120.html

SOURCE Loomis AB

FAQ

What were Loomis AB's revenue figures for 2022?

Loomis AB reported a record revenue of SEK 25,315 million for the full year 2022.

How did Loomis AB perform in Q4 2022?

In Q4 2022, Loomis AB achieved revenue of SEK 6,731 million, reflecting a real growth of 12.1%.

What is the proposed dividend for Loomis AB in 2022?

Loomis AB proposed a dividend of SEK 12.00 per share for 2022.

What was the organic growth rate for Loomis AB in 2022?

The organic growth rate for Loomis AB in 2022 was 14.4%.

How much did Loomis AB repurchase in shares during Q4 2022?

Loomis AB repurchased 661,000 shares during the fourth quarter of 2022.