Interim Report, January – June 2016 Coor Service Management Holding AB

Second quarter of 2016

  • Net sales increased by 7 per cent in the second quarter, to SEK 1,905 (1,786) million. Organic growth ex-cluding foreign exchange effects was 10 per cent.
  • Adjusted EBITA increased by 28 per cent to SEK 114 (88) million and operating margin expanded to 6.0 (5.0) per cent.
  • EBIT was SEK 66 (-42) million and the profit after tax SEK 35 (128) million. The significant change in the profit after tax compared with the previous year is due to a sizeable positive tax effect in the second quarter of the previous year.
  • Earnings per share were SEK 0.4 (-1.8).
  • Operating cash flow was SEK 156 (45) million.

First half of 2016

  • Net sales for the six-month period increased by 4 per cent to SEK 3,764 (3,634) million. Organic growth excluding foreign exchange effects was 6 per cent.
  • Adjusted EBITA increased by 19 per cent to SEK 224 (188) million and operating margin expanded to 6.0 (5.2) per cent.
  • EBIT was SEK 131 (9) million and the profit after tax SEK 69 (140) million.
  • Earnings per share were SEK 0.7 (-7.7).
  • Operating cash flow was SEK 154 (14) million.

"Coor delivers strong organic growth and margin improvements in the second quarter of the year."
Mikael Stöhr, President and CEO of Coor

GROUP EARNINGS SUMMARY Apr - Jun Jan - Jun Rolling Full year
(MSEK) 2016 2015 2016 2015 12 mån 2015
Net sales 1,905 1,786 3,764 3,634 7,612 7,482
Organic growth, % 10 9 6 14 6 10
Adjusted EBITA 114 88 224 188 410 374
Adjusted EBITA-marginal, % 6.0 5.0 6.0 5.2 5.4 5.0
EBIT 66 -42 131 9 204 82
Profit after tax 35 128 69 140 130 201
Operating cash flow 156 45 154 14 414 274
Earnings per share, SEK 0,4 -1,8 0,7 -7,7 1,4 -3,6

Invitation to press and analyst presentation
On 19 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 of the meeting using the following link http://edge.media-server.com/m/p/m7d4pt3w. To listen to the presentation by telephone, dial +46 8 566 425 08 (Sweden), +47 23 50 02 52 (Norway), +45 35 44 55 76 (Denmark), +358,981,710,492 (Finland) or +44 203 008 98 16 (UK).

The presentation 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 presentation.

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

For other questions concerning the operations or the company, please contact CEO Mikael Stöhr (+46 10 559 59 35, mikael.stohr@coor.com) or Communications- and Sustainability Manager 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 required to make public under the EU Market Abuse Regulation and the Swedish Securities Markets Act. The information was submitted for publication, through the above-mentioned contact person, at 7:30 a.m. CET on 19 July 2016. 

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, Aibel, Det Norske Veritas, E.ON, Ericsson, EY, ICA, 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. At June, 30, 2016, the company had 6,300 employ-ees based mainly in Sweden, Denmark, Norway and Finland, and annual sales of SEK 7,600 million. 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