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LOOMIS AB UNSP/ADR (LOIMY) is a leading provider of cash handling services globally, specializing in secure transfer and management of cash. The company recently secured a syndicated Term Loan facility of EUR 115 million for corporate purposes and acquisitions.
With a commitment to sustainability and innovation, LOOMIS is at the forefront of the cash management industry, ensuring the highest standards of security and efficiency. The company's dedication to excellence and customer satisfaction sets them apart in the competitive market.
Loomis announced its updated strategy, "At the Centre of the Payment Ecosystem," during the Capital Markets Day on March 23, 2022. The strategy aims for a revenue growth of 5-8% annually and an operating margin of 12-14% by 2024. Key focus areas include accelerating core business, increasing recurring revenue services, and expanding digital offerings. The company maintains its dividend policy, distributing 40-60% of annual net earnings to shareholders. Sustainability goals include reducing carbon emissions and work injury rates by 15% by 2024.
On March 20, 2022, Loomis AB announced the appointment of Aritz Larrea as the new President and CEO, effective August 1, 2022. Aritz, who has served as President of Loomis US since June 2018, brings extensive leadership experience in the cash management industry. Chairman Alf Göransson highlighted Aritz's strong leadership and insights into the industry's challenges. Aritz expressed pride in leading Loomis, emphasizing the company's commitment to growth and innovation in the payments sector.
Loomis announced a virtual Capital Markets Day scheduled for March 23, 2022, from 15:00-17:30 CET. CEO Patrik Andersson and CFO Kristian Ackeby will discuss the company's targets for 2022-2024 and outline its strategic direction. This event will include a question-and-answer session for attendees. Interested participants need to register online to gain access to the meeting. Further information is available on the company's website.
On February 9, 2022, Patrik Andersson announced his resignation as President and CEO of Loomis AB, effective no later than Q2 2023. Having held the position since 2016, Andersson expressed pride in leading the company and its successful strategies in cash management. Chairman Alf Göransson commended Andersson for his performance, emphasizing Loomis's strong market positioning and resilience during the pandemic. The search for a new CEO has commenced, ensuring continuity in leadership during this transition.
Loomis reported strong financial results for Q4 2021, with revenue increasing to SEK 5,325 million, a 15% real growth. Operating income (EBITA) rose to SEK 594 million, improving the operating margin to 11.2%. For the full year, revenue reached SEK 19,723 million, with real growth of 10% and operating income at SEK 1,961 million. Earnings per share before dilution surged to SEK 14.74. The company proposed an increased dividend of SEK 8.50 per share.
Loomis AB will release its Full-year Report 2021 on February 3, 2022, at 8:00 a.m. (CET). The report will be shared as a press release from Cision and will be available on Loomis' official website. Following the release, presentation slides will be accessible at 8:30 a.m. (CET). A telephone conference with key executives including CEO Patrik Andersson will commence at 9:00 a.m. (CET), where they will present the report and engage in a Q&A session. Participants can join via specified phone numbers or follow the audio cast live.
Loomis AB completed its repurchase program by buying back 825,000 shares between November 2, 2021, and December 23, 2021. This brings the total number of shares held by the company to 1,433,782 as of December 31, 2021. The overall share count for Loomis, including repurchased shares, now stands at 75,279,829. This buyback underscores Loomis's commitment to enhancing shareholder value and optimizing its capital structure.
Loomis AB has repurchased 463,000 shares under its ongoing buyback program, increasing its total holding to 1,071,782 shares as of November 30, 2021. This action reflects the company's commitment to enhancing shareholder value and optimizing its capital structure. The total number of shares outstanding, including treasury shares, now stands at 75,279,829. The buyback program was first announced on November 3, 2021.
Loomis AB's board has approved the continuation of its share repurchase program, originally initiated in 2021. This effort aims to optimize the company's capital structure and meet its capital requirements. The buyback will start on November 4, 2021, concluding by January 4, 2022, with a maximum value of SEK 200 million. Shares will be repurchased through Nasdaq Stockholm at prices within the current trading range. Currently, Loomis has 75,279,829 total shares outstanding, of which 608,782 are held in treasury.
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