Loomis Interim Report January - September 2024

Solid performance and strong operating cash flow

STOCKHOLM, Oct. 29, 2024 /PRNewswire/ -- Loomis delivered solid financial results for the third quarter. Revenue exceeded SEK 7.6 billion with growth across all business lines when adjusting for changes in exchange rates, except for the International business line where we are still experiencing cyclical headwinds. We continue to see double-digit organic growth for Automated Solutions in both regions, where the performance of CIMA also has a positive contribution on the results. 

The operating income (EBITA) of SEK 981 million is our highest ever and we increased our operating margin to 12.9 percent (10.4). The cash flow from operating activities surpassed SEK 1.3 billion for the quarter, representing a strong 134 percent cash conversion rate relative to operating income (EBITA).

We had a solid third quarter overall, nevertheless, it will be challenging to reach the operating margin (EBITA %) target of 12-14 percent for the year.

Comments on Quarter 3         

Revenue for the third ...