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Loomis during the first six months of 2011: Organic growth

Loomis’ operating income (EBITA)1)for the first six months of 2011 amounted to MSEK 374 (379), including exchange rate effects of MSEK –47. The operating margin increased to 7.2 percent (6.8).

Revenue during the period amounted to a total of MSEK 5,210 (5,577). Organic growth amounted to 1 percent (–2).

Operating income (EBIT) amounted to MSEK 281 (370), including acquisition-related costs of –31 and an item affecting comparability of MSEK –53. The item affecting comparability, which has previously been communicated, is related to prior periods and is a consequence of incorrect valuation of assets and liabilities in the Austrian subsidiary.

Income before taxes amounted to MSEK 249 (316) and net income after taxes amounted to MSEK 168 (207).

Cash flow from operating activities amounted to MSEK 190 (481), which is equivalent to 51 percent (127) of operating income (EBITA).

Earnings per share before dilution were SEK 2.31 (2.84), and Earnings per share after dilution were SEK 2.23 (2.74).

Second quarter

Operating income (EBITA)1)for the second quarter amounted to MSEK 195 (198), including exchange rate effects of MSEK –24. The operating margin increased to 7.3 percent (7.0).

Revenue during the second quarter amounted to MSEK 2,683 (2,806). Organic growth amounted to 2 percent (–1).

Operating income (EBIT) amounted to MSEK 114 (193), including acquisition-related costs of –23 and an item affecting comparability of MSEK –53. The item affecting comparability, which has previously been communicated, is related to prior periods and is a consequence of incorrect valuation of assets and liabilities in the Austrian subsidiary.

Income before taxes during the second quarter amounted to MSEK 98 (167) and net income after taxes amounted to MSEK 65 (103).

Cash flow from operating activities amounted to MSEK 113 (323), which is equivalent to 58 percent (163) of operating income (EBITA).

Earnings per share before dilution were SEK 0.89 (1.41), and Earnings per share after dilution were SEK 0.86 (1.36).

“We have seen positive organic growth in the majority of the European countries. Organic growth during the second quarter amounted to 3 percent in Europe and to 2 percent for the Group as a whole. This is the first time since we became a listed company in 2008 that we have experienced positive organic growth during one individual quarter,” states Loomis President and CEO, Lars Blecko.

1 Earnings Before Interest, Tax, Amortization of acquisition-related intangible fixed assets, Acquisition-related costs and Items affecting comparability.

About Loomis
Loomis offers safe and effective comprehensive solutions for the distribution, handling and recycling of cash for banks, retailers and other commercial companies via an international network of more than 370 centers of operation in 14 European countries and in the USA. The Group has approximately 20,000 employees and annual revenues of SEK 11 billion. Loomis is a Mid-Cap listed Company on the NASDAQ OMX Stockholm.

Loomis AB discloses the information provided herein pursuant to the Swedish Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 08.00 a.m. (CET) on July 29th, 2011.

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