Interim Report, January – June 2017, Coor Service Management Holding AB

Second quarter 2017

  • Net sales increased by 5 per cent in the second quarter, to SEK 1,900 (1,808) million. Organic growth excluding foreign exchange effects was 3 per cent.
  • Adjusted EBITA increased by 6 per cent to SEK 115 (109) million and the operating margin expanded to 6.1 (6.0) per cent.
  • EBIT was SEK 68 (61) million and the profit after tax SEK 51 (30) million.
  • Earnings per share were SEK 0.5 (0.3).
  • Operating cash flow was SEK 136 (144) million.
  • During the period the company decided to sell its damage services business in Norway. The interim report therefore refers to the continuing operations.

First half 2017

  • Net sales increased by 5 per cent in the first half of 2017, to SEK 3,757 (3,575) million. Organic growth excluding foreign exchange effects was 3 per cent.
  • Adjusted EBITA increased by 10 per cent to SEK 238 (216) million and the operating margin expanded to 6.3 (6.0) per cent.
  • EBIT was SEK 144 (122) million and the profit after tax was SEK 107 (62) million.
  • Earnings per share were SEK 1.1 (0.6).
  • Operating cash flow was SEK 201 (141) million.

"In the second quarter of 2017 Coor improved its profitability throughout the Nordic region. Over the six-month period we increased our earnings by 10 per cent while continuing to deliver growth and strong cash flows."
Mikael Stöhr, President and CEO of Coor
 

GROUP EARNINGS SUMMARY * Apr - Jun Jan - Jun Rolling Full year
(SEK m) 2017 2016 2017 2016 12 mth. 2016
Net sales 1,900 1,808 3,757 3,575 7,453 7,272
Organic growth, % 3 9 3 7 1 3
Adjusted EBITA 115 109 238 216 458 435
Adjusted EBITA margin, % 6.1 6.0 6.3 6.0 6.1 6.0
EBIT 68 61 144 122 264 242
Income for the period 51 30 107 62 168 123
Operating cash flow 136 144 201 141 474 414
Earnings per share, SEK 0.5 0.3 1.1 0.6 1.8 1.3

* The report refers to the continuing operations of the Group following the decision to sell the damage services business.
See page 24 for definitions and calculations of key performance indicators. Items affecting comparability are presented in Note 3.

Invitation to press and analyst presentation
On 20 July, at 9 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://edge.media-server.com/m/p/zcvdhiz4
. To listen to the presentation by telephone, dial +46 856642509 (Sweden), +47 23500253 (Norway), +45 82333178 (Denmark), +35 8981710491 (Finland) or +44 2030089808 (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 2017
Interim Report January – September 2017                        October 27, 2017
Interim Report January – December 2017                         February 22, 2018
Interim Report January – March 2018                               April 26, 2018
Interim Report January – June 2018                                 July 18, 2018

More information and contact
For questions concerning the financial report, please contact Olof Stålnacke, CFO and IR Director (+46 10 559 59 20, olof.stalnacke@coor.com).

For other questions concerning the operations or the company, please contact President and CEO Mikael Stöhr (+46 10 559 59 35, mikael.stohr@coor.com) or Communications- and Sustainability Direcotor Åsvor Brynnel (+46 10 559 54 04, asvor.brynnel@coor.com). IR Coordinator: Sara Marin (+46 10 559 59 51, sara.marin@coor.com).

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

This information is information that Coor Service Management Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, 20 July 2017, 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 (soft FM), property services (hard FM) 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. Coor’s customer base includes many large and small companies and public-sector organisations across the Nordic region, including AB Volvo, ABB, Aibel, Det Norske Veritas, E.ON, Ericsson, EY, NCC, Politiet (Danish Police), Saab, Sandvik, SAS, Skanska, Statoil, Telia, 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