Strong second quarter with improved operating margin and organic growth
First half of 2013
Loomis’ operating income (EBITA)1) for the first half of 2013 amounted to SEK 494 (437) million and the operating margin increased to 8.9 percent (7.6).
Revenue for the period amounted to SEK 5,538 million (5,720). Real growth was 1 percent (6) and organic growth was 0 percent (1).
Income before taxes was SEK 470 million (377) and income after taxes was SEK 331 million (264).
Cash flow from operating activities amounted to SEK 268 million (185), equivalent to 54 percent (42) of operating income (EBITA)1).
Earnings per share was SEK 4.45 (3.62) before dilution and SEK 4.40 (3.49) after dilution.
Second quarter of 2013
Operating income (EBITA)1) for the second quarter amounted to SEK 276 million (225 and the operating margin improved to 9.8 percent (7.8).
Revenue for the second quarter amounted to SEK 2,832 million (2,898). Real growth and organic growth were both 2 percent (3 and –1 respectively).
Income before taxes was SEK 236 million (188) and income after taxes was SEK 166 million (131).
Cash flow from operating activities amounted to SEK 211 million (127), equivalent to 76 percent (56) of operating income (EBITA)1).
Earnings per share was SEK 2.21 (1.80) before dilution and SEK 2.21 (1.74) after dilution.
“We can be pleased with a quarter in which we saw good earnings growth and a strong cash flow, and in which we regained our positive organic growth in both Europe and the USA,” says Lars Blecko, Loomis’ President and CEO. He also noted that Loomis’ continuous focus on offering high-quality services has enabled the company to win several important contracts in recent quarters.
1)Earnings Before Interest, Taxes, Amortization of acquisition-related intangible fixed assets, Acquisition-related costs and revenue and Items affecting comparability.