Loomis Interim Report January - June 2022

Rhea-AI Summary

Loomis reported record sales for the second quarter of 2022, with revenues reaching SEK 6,217 million, marking a 17.7% growth. The operating profit rose to SEK 620 million, resulting in an operating margin of 10.0%. Organic growth was 16.1%, continuing three consecutive quarters of growth exceeding pre-pandemic levels. Loomis Pay is seeing increased transaction volumes, including a pilot program in Spain. Despite macroeconomic uncertainties, Loomis demonstrates robust performance and strong cash flow, with a 104% operating cash flow conversion.

Positive

• Record second quarter revenue of SEK 6,217 million, a 17.7% increase.
• Operating income (EBITA) rose to SEK 620 million, yielding a 10.0% margin.
• Sustained organic growth at 16.1%, exceeding pre-pandemic revenue levels for three quarters.
• Positive cash flow from operating activities at SEK 644 million, representing 104% of EBITA.
• Repurchase of 824,000 shares indicating strong capital management.

Negative

• None.

STOCKHOLM, July 22, 2022 /PRNewswire/ --

Record sales and higher operating margin

Reported revenue is the highest ever and operating profit continues to grow during the second quarter. Loomis' strong development is supported by the opening of societies post the pandemic in Europe, and continued success for SafePoint in the USA. Loomis Pay transaction volumes show an encouraging development, and we have now initiated a pilot in Spain.

The Group's second quarter organic growth was 16.1 percent (17.3) and operating margin (EBITA %) was 10.0 percent (9.0). In terms of organic growth Loomis Group have now reported three consecutive quarters with higher revenue than before the pandemic started. Excluding Loomis Pay, operating margin is 10.8 percent (9.6). The quarter's positive development confirms Loomis strength despite significant macroeconomic and geopolitical uncertainties.

Comments on quarter 2           

• Revenue for the quarter was SEK 6,217 million (4,779). Real growth was 17.7 percent (22.7) of which organic growth was 16.1 percent (17.3).
• Operating income¹⁾ (EBITA) for the period was SEK 620 million (428) and EBITA operating margin was 10.0 percent (9.0). Excluding Loomis Pay, the operating margin amounted to 10.8 percent (9.6).
• Operating income (EBIT) before items affecting comparability for the period was SEK 539 million (388) and operating margin (EBIT) before items affecting comparability was 8.7 percent (8.1).
• Income before taxes SEK 438 million (338) and net income SEK 296 million (251).
• Earnings per share before and after dilution were SEK 4.02 (3.33).
• Cash flow²⁾ from operating activities SEK 644 million (290), equivalent to 104 percent (68) of operating income (EBITA).
• Loomis AB repurchased 824,000 own shares during the second quarter.
• 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 

July 22, 2022

CONTACT:

Kristian  Ackeby
Chief Financial Officer
Mobile: +46 70 569 69 98   
Email: kristian.ackeby@loomis.com

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https://news.cision.com/loomis-ab/r/loomis-interim-report-january---june-2022,c3604347

The following files are available for download:

https://mb.cision.com/Main/51/3604347/1606821.pdf	Loomis Interim Report January-June 2022
https://mb.cision.com/Public/51/3604347/8a1a16c73a76b58f.pdf	Loomis Interim Report January-June 2022 - press release

View original content:https://www.prnewswire.com/news-releases/loomis-interim-report-january---june-2022-301591582.html

SOURCE Loomis AB

FAQ

What were Loomis' revenue figures for Q2 2022?

Loomis reported a record revenue of SEK 6,217 million for the second quarter of 2022.

How much did Loomis' operating income grow in Q2 2022?

Operating income (EBITA) for the second quarter of 2022 was SEK 620 million, an increase from SEK 428 million in Q2 2021.

What is Loomis' organic growth rate for the second quarter of 2022?

Loomis recorded an organic growth rate of 16.1% for the second quarter of 2022.

What was the operating margin for Loomis in Q2 2022?

The operating margin for Loomis in the second quarter of 2022 was 10.0%, compared to 9.0% in the same quarter of the previous year.

How much cash flow did Loomis generate from operating activities in Q2 2022?

Loomis generated a cash flow of SEK 644 million from operating activities in the second quarter of 2022.