Continued margin improvement

Continued margin improvement

Loomis´ operating income (EBITA)(1) for the first quarter 2011 amounted
to MSEK 179 (181) including exchange rate effects of MSEK -23. The
operating margin increased to 7.1 percent compared with 6.5 percent for
the equivalent period in 2010.

Revenue during the period amounted to MSEK 2,526 (2,771) and organic
growth was 0 percent (-3).

Income before taxes amounted to MSEK 152 (149) and net income after tax
was MSEK 103 (104).

Cash flow from operating activities amounted to MSEK 77 (159),
equivalent to 43 percent (88) of operating income (EBITA).

Earnings per share before dilution were SEK 1,41 (1,43) and SEK 1,36
(1,38) after dilution.

At the end of the first quarter Loomis announced its so far largest
acquisition when the cash handling operations from the American company
Pendum LLC were acquired. The acquired operations have an annual revenue
of approximately MUSD 100 and approximately 1,500 employees. After the
reporting period, Loomis has also announced the acquisition of 60
percent of the shares in the Turkish cash handling company Erk Armored,
which has an annual revenue of approximately MSEK 60 and approximately
220 employees. As part of the acquisition Loomis has, in the future, the
possibility to acquire the remaining 40 percent of the company.

“It is gratifying that we have improved the operating margin to 7.1
percent from 6.5 percent during the equivalent period previous year as
we, at the same time, have had an increased focus on acquisitions. It
shows that the 8 percent which we achieved during 2010 is at a solid
level”, states Loomis´ President and CEO, Lars Blecko.

Lars Blecko also states that the acquisitions of the cash handling
operations from Pendum and the acquisition of the majority of the shares
in Erk Armored are important components in Loomis´ new strategy which
includes an increased rate of acquisitions in both existing and in new
markets.

1) Earning Before Interest, Tax, Amortization of acquisition-related
intangible fixed assets and Acquisition-related costs.

11.05.2011

Lars Blecko
President and CEO
Cell number: +46 70 641 49 10

 

Loomis offers safe and effective solutions for the distribution,
handling and recycling of cash for banks, retailers and other commercial
companies via an international network consisting of more than 370
branch offices in 14 European countries and in the US. Loomis has 20 000
employees and a turnover of 11 billion Swedish kronor. Loomis is a
midcap listed company on 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 2.00 p.m. (CET) on
May 11th, 2011.