Continued strong growth and solid US margins
Loomis delivered a strong start to the year with an organic revenue growth of 6.3 percent in the first quarter. Both the US and
Comments on quarter 1
- Revenue for the first quarter was
SEK 7,253 million (6,812). Revenue grew by 6.5 percent (21.1) of which organic growth was 6.3 percent (11.7) and acquisitions contributed with 2.9 percent (0.4). Exchange rate effects on revenue was -2.7 percent (9.0). -
Operating income (EBITA) 1) for the quarter was
SEK 754 million (717). The operating margin (EBITA) was 10.4 percent (10.5). -
Operating income (EBIT) before items affecting comparability for the quarter was
SEK 710 million (667) and operating margin (EBIT) before items affecting comparability was 9.8 percent (9.8). -
Net financial expenses for the quarter were
SEK -188 million (-113). -
Income before taxes for the quarter was
SEK 507 million (543) and net income wasSEK 359 million (403). -
Earnings per share before dilution for the quarter were
SEK 5.06 (5.64) and after dilution were 5.05 (5.64). -
Cash flow from operating activities2) amounted to
SEK 402 million (719) in the quarter, equivalent to 53 percent (100) of operating income (EBITA). The cash flow was partially impacted by a temporary build-up of foreign currency stock over the quarter end. Loomis AB repurchased 700,000 own sharesbetween February 5 and April 5, 2024 , of which 643,592 were repurchased in the first quarter.
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.
Jenny Boström
Head of Sustainability and IR
Mobile: +46 79 006 45 92
Email: jenny.bostrom@loomis.com
Loomis offers secure and effective comprehensive solutions for managing payments, including the distribution, handling, storage and recycling of cash and other valuables. Loomis' customers are mainly financial institutions and retailers. Loomis operates through an international network of around 400 branches in more than 20 countries. Loomis employs around 25,000 people and had revenue in 2023 of more than
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