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Investor relations

An investment in Coor is an investment in a leading service company with stable growth, good profitability, healthy cash generation and a high dividend yield.

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Our Employee for all your Facility Management Services | Coor

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Coor creates the happiest, healthiest, and most prosperous workplace environments in the Nordic region

Coor is a leading provider of facility management services in the Nordic region. We offer around a hundred different services in various service areas, ranging from individual cleaning services to complex IFM deliveries.

We offer specialist expertise in cleaning services, workplace services, property services and strategic advisory services. Coor creates value by executing, developing, and streamlining our customers’ service activities. This enables our customers to do what they do best.

Coor was founded in 1998 and has been listed on Nasdaq Stockholm since 2015. Our customer base includes many large and small companies and public-sector organisations across the Nordic region.

All operations are certified under the international ISO 14001, ISO 9001 and ISO 45001 environmental and quality management standards. In addition, Coor has also obtained a number of local, service-specific environmental and quality certifications.

Latest report

Annual Report 2023

Coor Service Management's Annual & Sustainability report 2023 was published on April 5th 2024.

 

Read the Annual Report of 2023

Download the annual report as a PDF ➝

Order a printed copy of the annual report ➝

 
Summarised web version

Key figures about Coor

13,000

employees

12,4 msek

Net sales per year

40% market share

of outsourced IFM in the Nordics

Coor as an investment

An investment in Coor is an investment in a leading service company with stable growth, good profitability, healthy cash generation and a historically high dividend yield.

Here are five good reasons to be a Coor shareholder:

 

1. Strong prospects

Coor is a leader in the IFM segment and holds around 60% of the company’s business. The IFM market is growing faster than GDP and the FM market overall. Short-term growth may vary due to major IFM contracts and unexpected events. Coor’s strong position in the Nordic market, innovation, and digitalization contribute to its success. Over 70% of revenue comes from stable subscriptions. Regardless of economic conditions, Coor’s services remain in demand, with new outsourcing deals during periods of weaker growth.


2. Stable profitability

As Coor’s business is largely about delivering efficiencies, the company has a strong focus on efficiency improvements and cost savings. The combination of strong local management in customer contracts and increased use of synergies within the Group provides a good foundation for maintaining stable profitability.
The company also has considerable flexibility in its cost base, which means that changes in sales volumes normally have a limited impact on the operating margin.

 

3. Strong cash conversion

Due to its very limited need for capital expenditure and working capital, Coor’s cash conversion is strong, which means that a large portion of its operating profit is converted into cash flow.

 

4. A high dividend yield

Available cash can be used for further acquisitions, repayment of debt or dividends. Net debt is below the company’s target, which means that Coor should be able to offer a high and stable dividend yield to its shareholders over time.

The objective of the Board and management is not to accumulate cash in the company but to return any surplus to the shareholders.

 

5. Continued opportunities for value-adding acquisitions

In 2022, Coor completed a takeover in Sweden as the company acquired Centrumstäd, a cleaning company in the south of Sweden. Although Coor’s primary focus is on organic growth, the company has both the financial capacity and the ability to integrate further acquisitions going forward.

Coor works continuously to identify well-managed Nordic companies that can complement and strengthen the company’s offering in the FM market. The acquisitions need to be made at reasonable valuations and create synergies through our integration activities.

Financial targets

Target: Organic growth 5%

Over an economic cycle, Coor should grow organically by 4-5 percent
annually.

Outcome in 2022: 5%


Target: Adjusted EBITA margin ~5.5%

In the medium term, Coor should deliver an adjusted EBITA margin of around 5.5 percent.

Outcome in 2022: 5.4%


Target: Cash generation >90%

In the medium term, Coor must maintain a cash generation that
exceeds 90 percent.

Outcome 2022: 94%

 

Target: Capital structure <3.0

The medium-term goal is for Coor's net debt to be below 3.0 times adjusted EBITDA.

Outcome in 2022: 1.9 X


Target: Dividend of ~ 50%

The goal is to distribute around 50 percent of the company's adjusted net profit for the period (before depreciation and amortization of intangible assets) in ordinary dividends to the shareholders

Outcome 2022: 111%

 

 


Coor is a partner to Nasdaq ESG Transparency.

IR contacts

 

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Andreas Engdahl

CFO and IR Director

+46 (0)10-559 54 63
andreas.engdahl@coor.com
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Nina Högstedt

CEO Executive Assistant

+46 (0)10 559 54 58
nina.hogstedt@coor.com