Group Three-year summary 2012  2011 2010 
 Net sales, MSEK 7,045  6,602  6,137
 EBITA excl other items, MSEK 407.1  337.8  384.1
 EBITA-margin excl other items, % 5.8%  5.1%  6.1%
Operating income (EBIT), MSEK 65.0  27.0  -155.9
 Operating margin (EBIT margin), % 0.9%  0.4%  -2.5%
 Operating cash flow, MSEK 211.9  354.0  331.5
 Number of employees 7,101  5,399  4,269

 
2012 in brief

  • Sales increased by 6.7% year on year to SEK 7,045 (6,602) m. The sales increase is mainly explained by the full-year effect of two major acquisitions completed in 2011 (service management companies Lujapalvelut Oy and EuroMaint Industry AB), as well as new contracts. Excluding negative currency effects, sales increased by 7.1%.
  • A number of new accounts were secured in the year, notably including the Danish Police, Unibail-Rodamco (Sweden and Denmark), GE Oil & Gas (Norway) and Ruukki (Finland). These new contracts represent total annualised sales of approximately SEK 380 m.
  • In December, Coor Service Management acquired service management company Addici, whose operations are mainly in Sweden, but also in Norway, Denmark and Finland. This acquisition means Coor growing by another 1,300 employees, and approximately SEK 1,000 m of sales, and strengthens Coor’s competence, mainly in integrated service deliveries to SMEs, security services, as well as telephony and documentation services.
  • All major contracts renegotiated in the financial year were extended, on accounts including SAS, Det Norske Veritas, CGI (formerly Logica), ICA, GKN (formerly Volvo Aero) Sapa, Sandvik, Pandora and GN Store Nord. These extended contracts represent total annualised sales of approximately SEK 950 m.
  • EBITA excluding other items increased to SEK 407 (338) m. Coor’s margin rose sharply, to 5.8 (5.1)%. The improvement is mainly due to a group-wide efficiency improvement programme.
  • Operating cash flow decreased to SEK 212 (354) m. This change is mainly explained by an increase in working capital.
  • The number of employees increased by 32% to 7,101 (5,399). This increase is due to new business secured in 2012.