Loomis A B - LOIMY STOCK NEWS

Loomis AB has announced the formation of its Nomination Committee for the Annual General Meeting on May 4, 2022. The committee is chaired by Elisabet Jamal Bergström, with representatives from major shareholders including Polaris Capital Management and Tredje AP-fonden. The committee is responsible for proposing candidates for the Board of Directors, auditors, and fee structures for the upcoming AGM. Shareholders can submit proposals via email by January 31, 2022.

Loomis AB announced on August 30, 2021, that it will appeal a court decision in Denmark regarding alleged competition law violations dating from 2014 to 2016. The decision, which is appealable, did not address damages, which total DKK 228 million plus interest, to be discussed in a separate process post-appeal. Loomis maintains that it has complied with applicable laws and is confident in its position.

Loomis AB reported a robust performance in Q2 2021, with revenues reaching SEK 4,779 million, a 23% increase in real growth. Operating income (EBITA) surged to SEK 428 million, resulting in a 9.0% operating margin. Income before taxes was SEK 338 million, and earnings per share rose to SEK 3.33. Over six months, revenue totaled SEK 9,262 million, with an operating income of SEK 786 million. Despite previous impacts of the coronavirus pandemic, the company noted a significantly lower adverse effect on its financials compared to 2020.

Loomis AB announced a share repurchase program to enhance its capital structure, with a maximum value of SEK 150 million. The buyback will commence on 26 July 2021 and conclude no later than 30 September 2021. The shares will be acquired via Nasdaq Stockholm, and transactions will be managed by Nordea Bank Abp. Currently, Loomis has a total of 75,279,829 shares, out of which they hold 53,797 shares. This initiative is viewed as a move to optimize shareholder value.

Loomis AB announced the publication date for its Interim report covering January to June 2021, set for July 23, 2021, at 8:00 a.m. (CEST). The report will be disseminated via Cision and available on Loomis' official website. Following the report, presentation slides will be accessible at 8:30 a.m. (CEST), with a telephone conference hosted by the company's leadership at 9:00 a.m. (CEST) to discuss the report and answer questions. Analysts and media are invited to participate.

Loomis AB has secured a five-year credit agreement amounting to approximately EUR 265 million. This agreement includes a syndicated revolving credit facility comprising USD 140 million, SEK 945 million, and EUR 55 million. The new facility replaces an older one due in June 2022 and will be utilized for working capital, investments, and general corporate purposes. The arrangement is led by prominent banks including Bank of America and Nordea Bank.

Loomis Group has appointed Stellan Abrahamsson as Chief Risk Officer, effective March 1, 2022. He brings extensive risk management expertise from his advisory role and previous positions in the banking and insurance sectors, including as Senior Group Supervisor at the Swedish Financial Supervisory Authority. Abrahamsson will work alongside the current CRO, Martti Ojanen, until the transition. Ojanen will then take on a new role as Head of Group Insurance within the company's risk organization, reporting to Abrahamsson.

Loomis AB held its Annual General Meeting on May 6, 2021, via postal voting due to the pandemic. The Meeting adopted the 2020 financial statements and approved a dividend of SEK 6 per share, with a record date of May 10, 2021. Alf Göransson was re-elected as Chairman of the Board, and a new long-term incentive program for key employees was introduced. The Board was authorized to repurchase shares to adjust capital structure. Amendments to the articles of association were also approved, allowing proxy collection and postal voting.

Loomis reported a revenue decline of SEK 4,483 million in Q1 2021, down from SEK 5,329 million in Q1 2020, marking a -6% real growth and -9% organic growth. Operating income (EBITA) fell to SEK 358 million, with an operating margin of 8.0%. Income before taxes decreased to SEK 269 million. The coronavirus pandemic negatively affected overall performance, contributing to these declines.