Loomis Year-end 2010: Operating margin target of 8 percent
Proposed increase in dividend in excess of 30 percent.
Loomis’ operating income (EBITA)(*) for the full year 2010 amounted to MSEK 882 (837), including exchange rate effects of MSEK –80. The operating margin amounted to 8.0 percent (7.0).
- Revenue for the full year amounted to MSEK 11,033 (11,989). Organic growth was –1 percent (–3).
- Income before taxes amounted to MSEK 759 (706) and income after tax amounted to MSEK 496 (500).
- Cash flow from operating activities amounted to MSEK 938 (789), which is equivalent to 106 percent (94) of operating income (EBITA).
- Earnings per share before dilution were SEK 6.80 (6.85) and earnings per share after dilution were SEK 6.57 (6.85).
- The Board of Directors proposes a dividend for 2010 of SEK 3.50 (2.65) per share, which is equivalent to an increase of 32 percent in comparison with the previous year.
- Operating income (EBITA) for the fourth quarter amounted to MSEK 232 (237) and the operating margin increased to 8.6 percent (8.2).
- Revenue during the fourth quarter amounted to MSEK 2,691 (2,880).
- Income before taxes for the fourth quarter amounted to MSEK 199 (206) and income after tax amounted to MSEK 133 (150).
- Earnings per share before dilution were SEK 1.82 (2.06) and earnings per share after dilution were SEK 1.75 (2.01).
"The Group-wide conducted work with cost savings and efficiency improvements, as well as our strong cash flow, make us well-equipped to reach our new financial and operational goals. These goals include, among other things, an operating margin of 10 percent by 2014 at the latest, and expansion within both new and current markets", states Loomis’ President and CEO, Lars Blecko.
* Earnings Before Interest,Taxes and Amortization of acquisition-related intangible fixed assets.