STOCKHOLM, May 4, 2023 /PRNewswire/ -- Loomis reported record revenues with strong growth in all segments, supported by a double-digit organic growth. Higher volumes were the main driver but price increases also contributed to the organic growth. The operating profit (EBITA) increased to SEK 717 million (516), which is our highest operating profit for a first quarter. The operating margin (EBITA %) increased to 10.5 percent (9.2) and was positively impacted by increased volumes and price adjustments, but negatively by a higher cost base.
Comments on quarter 1
Revenue for the first quarter was SEK 6,812 million (5,627). Real growth was 12.1 percent (18.4) of which organic growth was 11.7 percent (14.6).
Operating income (EBITA) 1) for the quarter was SEK 717 million (516) and operating margin (EBITA) was 10.5 percent (9.2).
Operating income (EBIT) before items affecting comparability for the quarter was SEK 667 million (463) and operating margin (EBIT) before items affecting comparability was 9.8 percent (8.2).
Income before taxes for the quarter was SEK 543 million (406) and net income was SEK 403 million (295).
Earnings per share before dilution for the quarter were SEK 5.64 (4.00) and after dilution 5.64 (4.00).
Cash flow from operating activities2) amounted to SEK 719 million (177) in the quarter, equivalent to 100 percent (34) of operating income (EBITA).
Loomis AB repurchased 586,000 own shares during 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
CONTACT:
Jenny Boström Head of Investor Relations Mobile: +46 79 006 45 92 Email: [email protected]
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