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Loomis AB will release its Interim Report for January-March 2021 on May 6, 2021, at 3:00 p.m. (CEST). The report will be available on their website www.loomis.com and through Cision. Following the report release, the Annual General Meeting will occur on the same day at 5:00 p.m. (CEST), conducted via postal voting due to COVID-19 protocols. A presentation with the report's highlights will be held at 8:00 a.m. (CEST) on May 7, providing analysts and media an opportunity to engage with Loomis' executives.
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Loomis AB, via its subsidiary Loomis Schweiz AG, has agreed to acquire certain assets and liabilities of SecurePost AG from Swiss Post Group for an enterprise value of CHF 17.5 million. The acquisition includes customer contracts, employees, and operational assets, contributing approximately CHF 66 million in revenue for 2020. While the current EBITA is negative, it is expected to become marginally positive post-integration in FY2022. The acquisition aims to enhance Loomis' service offerings in Switzerland and is projected to impact earnings per share negatively in 2021.
Loomis AB has announced its Annual General Meeting (AGM) scheduled for May 6, 2021, to be held without physical presence due to the ongoing pandemic. Shareholders must vote by postal voting before May 5, 2021. The AGM agenda includes resolutions on the adoption of financial statements, dividend proposals of SEK 6 per share, and the election of board members. The company proposes a total board member fee of SEK 3,875,000. Additionally, Loomis plans to implement a new long-term incentive program for key employees in response to the pandemic's impact on fulfilling previous performance targets.
Loomis reported its fourth quarter 2020 revenue at SEK 4,537 million, down 7% from the previous year, with organic growth at -9%. Operating income fell to SEK 467 million with a margin of 10.3%. Full-year revenue was SEK 18,813 million, down 8%, and operating income decreased to SEK 1,775 million. The company noted significant impacts from the coronavirus pandemic on its financial performance, leading to the removal of the 2021 operating margin target. A proposed dividend of SEK 6.00 per share was announced.
Loomis AB announced the formation of its Nomination Committee for the Annual General Meeting (AGM) scheduled for 6 May 2021 in Stockholm, Sweden. The committee includes representatives from SEB Investment Management, Handelsbanken Fonder, Polaris Capital Management, Swedbank Robur Fonder, and Andra AP-fonden, with Elisabet Jamal Bergström as Chairman. The committee will propose key election decisions including board members and auditor fees. Shareholders can submit proposals to the committee until 31 January 2021.
Loomis has announced the launch of Loomis Pay, an integrated payment platform designed for merchants to manage cash, cards, and digital payments efficiently. Targeting small and midsize businesses, Loomis Pay aims to capture a market opportunity worth over SEK 3 billion in revenue within five years. The service will begin in Denmark this autumn, followed by Sweden in early 2021. Loomis also acquired GoAppified for SEK 60 million to enhance its technology. Loomis Pay is expected to be profitable in 2023, despite projected annual costs of SEK 100 million during the rollout.