- Net sales for the full year 2009 rose by 3% to SEK 5,909 (5,720) m. The sales gains are due to Coor securing new accounts and acquisitions of other independent FM (facilities management) businesses.
- EBITA was SEK 306 (339) m. The downturn in operating earnings is mainly due to investments in sales and development resources made in the second half-year 2008 to respond to strong demand, which increased operating expenses. Gross margins on contracts were unchanged year on year.
- Staff headcount grew by 5.9% to 4,279 (4,041) m. This increase is due to staff take-overs and hiring on new accounts exceeding the number of people leaving in the year.
Several new accounts were secured in 2009 including Statoil (Norway), GN Store Nord and Ernst & Young (Denmark), as well as Jones Lang Lasalle (Sweden). A number are strategic acquisitions were completed, notably of production services company Sapa Industriservice (Sweden), decontamination services companies Smedsrud & Sønner and Bygg Nor (Norway), plus conference services provider Vasakronan Servicepartner (Sweden).
“Despite the recession, 2009 was another good year for Coor. Some of our customers were hard hit by the recession, which also affected our operations, but we managed to respond to customers’ downscaled FM needs through ongoing modifications and rationalisations. Thanks to a steady stream of new accounts, we succeeded in increasing sales and keeping gross margins stable, which I’m really delighted about,” commented Mats Jönsson, CEO and President of Coor.
For more information, please contact:
Mats Jönsson CEO and President, Coor Service Management
+46 8 553 950 50 mats.jonsson@coor.com
Olof Stålnacke CFO, Coor Service Management
+46 8 553 959 20 olof.stalnacke@coor.com
Åsvor Brynnel Communication Manager, Coor Service Management
+ 46 8 553 954 04 asvor.brynnel@coor.com
