Loomis completes the acquisition of CIMA

Rhea-AI Summary

Loomis completes acquisition of CIMA, expects positive impact on operating profit and earnings per share in 2023.

Positive

• The acquisition of CIMA by Loomis is expected to have a positive impact on the operating profit and earnings per share of Loomis in 2023.

Negative

• None.

STOCKHOLM, Oct. 2, 2023 /PRNewswire/ -- On July 18, 2023, Loomis AB announced that it had entered into an agreement to acquire CIMA S.p.A. The acquisition was completed on October 2, 2023.

"Today I welcome the CIMA team into the Loomis Group, and I look forward to our exciting journey ahead. CIMA brings a proven track record of innovation and R&D within cash automation and complements Loomis in terms of both product offering, technological solutions as well as geographic presence. Together, we will combine our strengths and capabilities to provide enhanced solutions and further develop best-in-class cash-handling automation solutions with the customer in mind," says Aritz Larrea, President and CEO of Loomis.

The business will be reported within the SafePoint business line and consolidated into Loomis as of October 2023.  

Including transaction and integration costs, the acquisition is expected to have a positive impact on the operating profit (EBITA¹) and the earnings per share of Loomis in 2023. The contribution from the acquisition should be seen as an addition to Loomis' financial targets for the strategic period ending 2024.

¹⁾ Earnings before interest, taxes and amortizations 

This press release is also available on the company's website, www.loomis.com.

October 2, 2023

CONTACT:

Jenny Boström
Head of Sustainability and IR
Mobile: +46 79 006 45 92
Email: jenny.bostrom@loomis.com

The following files are available for download:

https://mb.cision.com/Main/51/3846216/2332659.pdf

Loomis completes the acquisition of CIMA

 

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SOURCE Loomis AB