Loomis Interim Report January - September 2022

Rhea-AI Summary

Loomis reported record revenues and operating profits for Q3 2022, achieving SEK 6,739 million compared to SEK 5,135 million year-on-year. This represents an organic growth of 15.5%, driven by the recovery in Europe and Latin America. Operating income increased to SEK 845 million, with an operating margin of 12.5%. Labor shortages and supply chain issues slightly affected margins. Net income reached SEK 503 million, and cash flow from operating activities was SEK 911 million. Additionally, Loomis repurchased 704,000 shares this quarter.

Positive

• Record revenues of SEK 6,739 million, a 31.4% increase year-on-year.
• Operating income (EBITA) rose to SEK 845 million, up from SEK 581 million.
• Operating margin improved to 12.5%, up from 11.3%.

Negative

• Operating margin slightly impacted by labor shortages and supply chain issues.

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	Loomis Interim Report January-September 2022
https://mb.cision.com/Public/51/3657020/844411e534075f47.pdf	Loomis Interim Report January-September 2022 - press release

View original content:https://www.prnewswire.com/news-releases/loomis-interim-report-january--september-2022-301662100.html

SOURCE Loomis AB

FAQ

What were the revenue figures for Loomis in Q3 2022?

Loomis reported revenues of SEK 6,739 million in Q3 2022.

How much did Loomis's operating income increase in Q3 2022?

Operating income for Loomis increased to SEK 845 million in Q3 2022.

What is the operating margin reported by Loomis for Q3 2022?

Loomis reported an operating margin of 12.5% for Q3 2022.

What were the earnings per share for Loomis in Q3 2022?

Earnings per share before dilution for Loomis in Q3 2022 were SEK 6.92.

How much cash flow from operating activities did Loomis generate in Q3 2022?

Loomis generated cash flow from operating activities of SEK 911 million in Q3 2022.