Loomis Interim Report January - September 2023

Rhea-AI Summary

Loomis reports record revenues of SEK 7.4 billion for Q3 2023, with solid organic growth. Operating result (EBITA) is 814 million SEK, with a margin of 11.0%. Strategic acquisition of Cima S.p.A. closed in October.

Positive

• Loomis reports record revenues of SEK 7.4 billion for Q3 2023
• Solid organic growth for all segments
• Operating result (EBITA) of 814 million SEK with a margin of 11.0%
• Strategic acquisition of Cima S.p.A. closed in October

Negative

• Challenging quarter for segment Europe and Latin America

STOCKHOLM, Oct. 26, 2023 /PRNewswire/ -- 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 

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/51/3862311/2386210.pdf	Loomis Interim Report January - September 2023
https://mb.cision.com/Public/51/3862311/bfbeb31f5ac538a7.pdf	Loomis Interim Report January September 2023 - press release

 

 

View original content:https://www.prnewswire.com/news-releases/loomis-interim-report-january--september-2023-301968431.html

SOURCE Loomis AB

What were Loomis' revenues for Q3 2023?

Loomis reported record revenues of SEK 7.4 billion for Q3 2023.

What was Loomis' operating result for Q3 2023?

Loomis' operating result (EBITA) for Q3 2023 was 814 million SEK with a margin of 11.0%.

Did Loomis have any acquisitions in Q3 2023?

Yes, Loomis closed the strategic acquisition of Cima S.p.A. in October.