Strong growth and improved operating margins reported by Loomis

Posted On 13 Nov 2014
Comment: Off

Revenues at Loomis (the Cash-in-Transit and cash management specialist) for the third quarter increased to SEK 3,600 million (2,897). Organic growth was 3% (4) and real growth 18% (4).

Loomis’s operating income (EBITA)1 amounted to SEK 406 million (311). The operating margin was 11.3% (10.7).

Income before taxes stands at SEK 366 million (294) while income after taxes totals SEK 278 million (207).

Earnings per share before and after dilution amounted to SEK 3.70 (2.76).

Cash flow from operating activities was SEK 384 million (368), equivalent to 95% (119) of operating income (EBITA).

January-September 2014

Revenue for the first nine months is reported at SEK 9,796 million (8,436) and organic growth 4% (1). Real growth is 12% (2).

Loomis’ operating income (EBITA)1 amounted to SEK 981 million (805) while the operating margin increased to 10.0% (9.5).

Income before taxes is SEK 878 million (764). Income after taxes is reported to be SEK 651 million (539).

Earnings per share before dilution was SEK 8.65 (7.21) and SEK 8.65 (7.15) after dilution.

Cash flow from operating activities is SEK 782 million (637), equivalent to 80% (79) of operating income (EBITA).

Comment from the president and CEO

“I’m pleased to present another quarter with strong growth and continued margin improvement,” explained Jarl Dahlfors, Loomis’ president and CEO.” The quarter was characterised by the integration of VIA MAT and a sustained focus on continuous improvements at our branches. Growth is mainly attributable to the acquisition of VIA MAT, implementation of new contracts and strong growth in the USA.”

Dahlfors added:” The profitability improvement is primarily a result of the strong growth within Cash Management Services and Loomis SafePoint. Ongoing work designed to improve efficiencies is continuing to yield results.”

Working for major financial institutions, independent ATM deployers, major retailers, public sector bodies and a huge range of businesses, Loomis has a presence in 20 countries, operates 400 offices and employs more than 20,000 people generating annual sales of £1 billion.

The company offers intelligent safe and deposit systems, cash collection/Cash-in-Transit services, cash processing, coin delivery, ATM services (which include ATM replenishment, maintenance and administration) and specialist transport services.

Reference

1EBITA” Earnings Before Interest, Taxes and Amortisation of acquisition-related intangible fixed assets, acquisition-related costs and revenue and items affecting comparability

About the Author
Brian Sims BA (Hons) Hon FSyI, Editor, Risk UK (Pro-Activ Publications) Beginning his career in professional journalism at The Builder Group in March 1992, Brian was appointed Editor of Security Management Today in November 2000 having spent eight years in engineering journalism across two titles: Building Services Journal and Light & Lighting. In 2005, Brian received the BSIA Chairman’s Award for Promoting The Security Industry and, a year later, the Skills for Security Special Award for an Outstanding Contribution to the Security Business Sector. In 2008, Brian was The Security Institute’s nomination for the Association of Security Consultants’ highly prestigious Imbert Prize and, in 2013, was a nominated finalist for the Institute's George van Schalkwyk Award. An Honorary Fellow of The Security Institute, Brian serves as a Judge for the BSIA’s Security Personnel of the Year Awards and the Securitas Good Customer Award. Between 2008 and 2014, Brian pioneered the use of digital media across the security sector, including webinars and Audio Shows. Brian’s actively involved in 50-plus security groups on LinkedIn and hosts the popular Risk UK Twitter site. Brian is a frequent speaker on the conference circuit. He has organised and chaired conference programmes for both IFSEC International and ASIS International and has been published in the national media. Brian was appointed Editor of Risk UK at Pro-Activ Publications in July 2014 and as Editor of The Paper (Pro-Activ Publications' dedicated business newspaper for security professionals) in September 2015. Brian was appointed Editor of Risk Xtra at Pro-Activ Publications in May 2018.