Continued profitable growth
For the third quarter 2023, Loomis reported record revenues of SEK 7.4 billion with solid organic growth for all segments. The performance in the US and Loomis Pay was strong while we had a challenging quarter for segment Europe and Latin America. The Group's operating result (EBITA) amounted to 814 (845), corresponding to a margin of 11.0 (12.5).
Comments on quarter 3- Revenue for the third quarter was SEK 7,408 million (6,739). Real growth was 6.9 percent (15.9) of which organic growth was 6.3 percent (15.5).
- Operating income (EBITA)1) for the quarter was SEK 814 million (845) and includes non-recurring items of SEK −78 million. The operating margin (EBITA) was 11.0 percent (12.5).
- Operating income (EBIT) before items affecting comparability for the quarter was SEK 774 million (808) and operating margin (EBIT) before items affecting comparability was 10.4 percent (12.0).
- Income before taxes for the quarter was SEK 596 million (708) and net income was SEK 421 million (503).
- Earnings per share for the quarter before dilution f were SEK 5.92 (6.92) and after dilution 5.90 (6.91).
- Cash flow from operating activities2) amounted to SEK 736 million (911) in the quarter, equivalent to 90 percent (108) of operating income (EBITA).
- The strategic acquisition of Cima S.p.A., that was announced in the third quarter, was closed in October.
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 26, 2023