Interim Report, January – June 2019, Coor Service Management Holding AB

Second quarter of 2019                           

• Net sales increased by 7 per cent in the second quarter, to SEK 2,556 (2,380) million. Organic growth was 5 per cent and growth from acquisitions 2 per cent, while foreign exchange effects accounted for 1 per cent of the increase.
• Adjusted EBITA increased by 1 per cent to SEK 140 (138) million and the operating margin was 5.5 (5.8) per cent.
• EBIT was SEK 78 (70) million. Profit after tax was SEK 44 (22) million.
• Earnings per share were SEK 0.5 (0.2).
• Operating cash flow was SEK 38 (77) million.

First half of 2019

• Net sales for the first half of the year increased by 13 per cent and amounted to SEK 5,091 (4,507) million. Organic growth was 7 per cent and growth from acquisitions 4 per cent, while foreign exchange effects accounted for 2 per cent of the increase.
• Adjusted EBITA increased by 7 per cent to SEK 271 (253) million. The operating margin was 5.3 (5.6) per cent.
• EBIT was SEK 154 (127) million. Profit after tax was SEK 87 (39) million.
• Earnings per share were SEK 0.9 (0.4).
• Operating cash flow was SEK 162 (17) million.

“Strong development of the contract portfolio with major new contracts and successful renegotiations.” Mikael Stöhr, President and CEO, Coor

GROUP EARNINGS SUMMARY	Apr–Jun			Jan–Jun			Rolling	Full year
(SEK m)	2019	2018		2019	2018		12 mth.	2018
Net sales	2,556	2,380		5,091	4,507		10,073	9,489
Organic growth, %	5	11		7	11		8	10
Acquired growth, %	2	11		4	7		8	10
FX effects, %	1	3		2	2		3	3
Adjusted EBITA	140	138		271	253		507	490
Adjusted EBITA margin, %	5.5	5.8		5.3	5.6		5.0	5.2
EBIT	78	70		154	127		247	219
Income for the period	44	22		87	39		152	104
Operating cash flow	38	77		162	17		499	354
Earnings per share, SEK	0.5	0.2		0.9	0.4		1.6	1.1

 

 

Invitation to a press and analyst presentation

On 18 July, at 10:00 a.m. CET, the company’s President and CFO will give a presentation on developments in the second quarter in a webcast. To participate in the webcast, please register in advance using the following link: http://event.on24.com/wcc/r/1919047-1/AAB4E616A534D82B4804A64C90E2A063?partnerref=rss-events.

To listen to the presentation by telephone, dial +46856642706 (Sweden), +4578150107 (Denmark), +358981710522 (Finland), +4723500236 (Norway) or +443333009261 (UK).

The briefing material and a recording of the webcast will be published on the company’s website www.coor.com, under Investors/Reports and presentations, after the briefing.

Financial calendar

Interim Report   January–September 2019                           7 November 2019

Interim Report   January–December 2019                           12 February 2020

Interim Report   January–March 2020                                 28 April 2020

Interim Report   January–June 2020                                    17 July 2020

 

For further information

For questions concerning the financial report, please contact our CFO and Director of Investor Relations Olof Stålnacke (+46 10 559 59 20).

For questions concerning the operations or the company in general, please contact Mikael Stöhr, President and CEO (+46 10 559 59 35) or Magdalena Öhrn, Director of Communications (+46 10 559 55 19).

IR Coordinator: Sara Marin (+46 10 559 59 51).
 

More information is also available on our website: www.coor.com

 

This constitutes information which Coor Service Management Holding AB is required to publish under the EU’s Market Abuse Regulation. The information was submitted for publication through the above contact person on 18 July 2019, at 7:30 a.m. CET.

 

Coor is a leading provider of facility management services in the Nordics, focusing on integrated and complex service undertakings (IFM). Coor offers specialist expertise in workplace services, property services and strategic advisory services for development of customers’ service activities. Coor creates value by executing, leading, developing and streamlining its customers’ service activities, ensuring that they provide optimal support to the core business over time. This includes property, cleaning, restaurants, security, and mail and reception services. Coor’s customer base includes many large and small companies and public-sector organisations across the Nordic region, including ABB, AB Volvo, Aibel, Det Norske Veritas, E.ON, Ericsson, Equinor, EY, NCC, Politiet (Danish Police), Saab, Sandvik, SAS, Telia Company, Swedish Transport Administration, Vasakronan and Volvo Cars.

Coor was founded in 1998 and is listed on Nasdaq Stockholm since 2015. Coor takes responsibility for the operations it conducts, in relation to its customers, employees and shareholders, as well as for its wider impact on society and the environment. Read more at www.coor.com