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

Third quarter of 2016

  • Net sales increased by 1 per cent in the third quarter, to SEK 1,821 (1,806) million. Since the foreign exchange effects were limited, organic growth also amounted to 1 per cent.
  • Adjusted EBITA increased by 28 per cent to SEK 97 (75) million. Operating margin rose to 5.3 (4.2) per cent.
  • EBIT was SEK 46 (17) million. Profit after tax was SEK 12 (16) million. The change in profit after tax was attributable to negative translation differences on loans in foreign currency.
  • Earnings per share were SEK 0.1 (0.2).
  • Operating cash flow was SEK 48 (-8) million.

The period January – September 2016

  • Net sales increased by 3 per cent in the period January to September, to SEK 5,585 (5,440) million. Organic growth excluding foreign exchange effects was 5 per cent.
  • Adjusted EBITA increased by 22 per cent to SEK 321 (264) million. Operating margin rose to 5.8 (4.8) per cent.
  • EBIT was SEK 177 (26) million. Profit after tax was SEK 81 (156) million. The change in profit after tax was impacted by a large positive tax effect in last year’s second quarter.
  • Earnings per share were SEK 0.8 (-4.9).
  • Operating cash flow was SEK 202 (6) million.

 
"In the third quarter, Coor reports a solid profit growth, improved margin and continued stable cash flow."

Mikael Stöhr, President and CEO of Coor
 

GROUP EARNINGS SUMMARY         Jul - Sep       Jan - Sep Rolling  Full year 
(SEK m)  2016  2015  2016  2015  12 mth.  2015 
Net sales  1,821  1,806  5,585  5,440  7,627  7,482 
Organic growth, %  12  10 
Adjusted EBITA  97  75  321  264  431  374 
Adjusted EBITA-margin, %  5.3  4.2  5.8  4.8  5.7  5.0 
EBIT  46  17  177  26  232  82 
Income for the period  12  16  81  156  126  201 
Operating cash flow  48  -8  202  469  274 
Earnings per share, SEK  0.1  0.2  0.8  -4.9  1.3  -3.6 

  
Invitation to press and analyst presentation

On 10 November, at 9:30 a.m. CET, the company’s President and CFO will give a presentation on developments in the third 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/jfjog7y5. 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 such that Coor Service Management Holding AB (publ) is obliged to publish in accordance with the EU market abuse regulation. This information was submitted through the efforts of the above-mentioned contact persons for publication on 10 November 2016 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, 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