Loomis A B - LOIMY STOCK NEWS

Loomis AB reported that as of February 16, 2023, it holds 3,777,782 own shares, equating to 5.02% of the company’s voting rights and capital. The total number of shares, including its own, stands at 75,279,829. The Board of Directors decided on February 1, 2023, to continue the repurchase of own shares during Q1 2023, starting on February 3, 2023, following authorization granted by the 2022 annual general meeting. Shareholders can find more information on the repurchase program on the company's website or through Nasdaq Nordic.

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.

Loomis has signed an agreement with Xos, Inc. for the delivery of 150 armored electric vehicles (EVs) in the US, building on their previous order of 20 EVs. This initiative reflects Loomis' commitment to sustainability, aiming to reduce transportation emissions as their fleet accounts for the largest climate impact. Under their Sustainability-Linked Finance Framework, Loomis targets a 20% reduction in carbon emissions by 2025 compared to 2019 levels. The first deliveries are expected in the second half of 2023, marking a significant step towards transforming their fleet while maintaining high security standards.

Loomis AB has secured a EUR 150 million syndicated revolving credit facility with a three-year term, which includes two one-year extension options. This facility replaces an existing credit line set to mature in January 2024. The funds will support working capital, investments, and general corporate purposes. Major banks involved in the arrangement include Bank of America, Danske Bank, NatWest, Nordea Bank, and Société Générale.

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.

Loomis AB has continued its share repurchase program, having bought back 434,000 shares in Q3 2022, bringing its total own shares to 2,691,782. The company's overall share count, including these repurchased shares, is now 75,279,829. This move reflects the board's strategy to enhance shareholder value and indicates strong financial footing.

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.

The board of directors of Loomis AB has announced the continuation of its share repurchase program, set to start on July 25, 2022, and conclude by September 28, 2022. The total value of the buyback is capped at SEK 200 million, with repurchases to occur on Nasdaq Stockholm within prevailing price intervals. Loomis currently holds 2,257,782 of its own shares out of a total of 75,279,829 shares. This initiative aims to enhance shareholder value and reflect the company's strong financial position.

Loomis AB will release its Interim Report for January-June 2022 on July 22, 2022, at 8:00 a.m. CEST. Analysts and media are invited to a telephone conference featuring CEO Aritz Larrea and CFO Kristian Ackeby at 9:00 a.m. CEST to discuss the report. The presentation slides will be available at that time on the company's website. The conference will also be audio casted live, with a recorded version accessible afterward. For updates, stakeholders can subscribe via Loomis' investor page.