Year-end Report, January – December 2016 - Coor Service Management Holding AB

Fourth quarter of 2016

  • Net sales in the fourth quarter were largely unchanged at SEK 2,045 (2,042) million. Organic growth excluding foreign exchange effects was -3 per cent.
  • Adjusted EBITA increased by 8 per cent to SEK 119 (110) million and the operating margin expanded to 5.8 (5.4) per cent.
  • EBIT was SEK 66 (56) million and profit after tax was SEK 43 (45) million. Profit after tax in the year-before period was affected by positive net financial income, driven by foreign exchange effects.
  • Earnings per share were SEK 0.5 (0.5).
  • Operating cash flow was SEK 225 (268) million.
  • The Board of Directors proposes a dividend for 2016 of SEK 3.00 (2.00) per share, of which SEK 1.55 (1.40) is ordinary and SEK 1.45 (0.60) is extraordinary.

Full year 2016

  • Net sales for the twelve-month period increased by 2 per cent to SEK 7,631 (7,482) million. Organic growth was 3 per cent.
  • Adjusted EBITA increased by 18 per cent to SEK 440 (374) million and the operating margin expanded to 5.8 (5.0) per cent.
  • EBIT was SEK 242 (82) million and profit after tax was SEK 124 (201) million. Profit after tax in the previous year was affected by a significant positive tax effect in the second quarter.
  • Earnings per share were SEK 1.3 (-3.6).
  • Operating cash flow was SEK 426 (274) million.
  • Net debt at year-end was SEK 808 (947) million and the leverage was 1.7 (2.2).
     

"2016 was a strong year in which we increased our margins across the board, creating scope for an extraordinary dividend.”
Mikael Stöhr, President and CEO of Coor
 

GROUP EARNINGS SUMMARY Oct - Dec Jan - Dec
(SEK m) 2016 2015 2016 2015
Net sales 2,045 2,042 7,631 7,482
Organic growth, % -3 6 3 10
Adjusted EBITA 119 110 440 374
Adjusted EBITA-margin, % 5.8 5.4 5.8 5.0
EBIT 66 56 242 82
Income for the period 43 45 124 201
Operating cash flow 225 268 426 274
Earnings per share, SEK 0.5 0.5 1.3 -3.6

 
Invitation to press and analyst presentation
On 22 February, at 9:30 a.m. CET, the company’s President and CFO will give a presentation on developments in the fourth quarter in a webcast. To participate in the webcast, please register in advance using the following link http://edge.media-server.com/m/p/ks8xy4v6. To listen to the presentation by telephone, dial +46 8 566 426 92 (Sweden), +47 23 50 02 52, (Norway), +45 35 44 55 79 (Denmark), +358 981 710 492 (Finland) or +44 203 008 98 07 (UK).  

The briefing material and a recording of the webcast will be published after the briefing on the company’s website, www.coor.com , under Investors/Reports and presentations.

 
Annual General Meeting 2017

The Annual General Meeting will be held on 4 May, at 3 p.m., at the Kista Entré conference centre, Knarrarnäsgatan 7, Kista, Sweden. Information on how to register along with the notice of AGM and other information will be available on the company’s website from March, 30.

 
Financial calendar 2017

Interim Report January – March 2017                           4 May 2017
Interim Report January – June 2017                             20 July 2017
Interim Report January – September 2017                    27 October 2017
Interim Report January – December 2017                     February 2018

The Annual Report 2016 will be published on the company’s website in week 15 of 2017.

 
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 22 February, 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, 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