Interim Report, January – June 2018, Coor Service Management Holding AB

Second quarter 2018

  •  Net sales increased by 25 per cent in the second quarter, to SEK 2,380 (1,900) million. Organic growth was 11 per cent and growth from acquisitions 11 per cent while foreign exchange effects accounted for 3 per cent of the increase.
  •  Adjusted EBITA increased by 19 per cent, to SEK 138 (115) million and the operating margin was 5.8 (6.1) per cent.
  •  EBIT was SEK 70 (68) million and the profit after tax SEK 22 (51) million.
  •  Earnings per share were SEK 0.2 (0.5).
  •  Operating cash flow was SEK 77 (136) million.

First half 2018

  •  Net sales increased by 20 per cent in the first half of the year, to SEK 4,507 (3,757) million. Organic growth was 11 per cent and growth from acquisitions 7 per cent while foreign exchange effects accounted for 2 per cent of the increase.
  •  Adjusted EBITA was SEK 253 (238) million and the operating margin 5.6 (6.3) per cent.
  •  EBIT was SEK 127 (144) million and the profit after tax SEK 39 (107) million.
  •  Earnings per share were SEK 0.4 (1.1).
  •  Operating cash flow was SEK 17 (201) million.

~ Strong growth throughout the Nordic region, organically and through acquisitions 

Mikael Stöhr,
President and CEO, Coor

GROUP EARNINGS SUMMARY* Apr - Jun Jan - Jun Rolling Full year
(SEK m) 2018 2017 2018 2017 12 mth. 2017
Net sales 2,380 1,900 4,507 3,757 8,473 7,722
Organic growth, % 11 3 11 3 9 6
Acquired growth, % 11 0 7 0 4 0
Adjusted EBITA 138 115 253 238 482 468
Adjusted EBITA margin, % 5.8 6.1 5.6 6.3 5.7 6.1
EBIT 70 68 127 144 251 268
Income for the period 22 51 39 107 121 188
Operating cash flow 77 136 17 201 308 492
Earnings per share, SEK 0.2 0.5 0.4 1.1 1.3 2.0

* The comparative figures for 2017 refer to continuing operations in the Group after the sale of the damage services business

See page 24 for definitions and calculations of key performance indicators. Non-recurring items are presented in Note 3. 

Invitation to a press and analyst presentation  

On 18 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://event.on24.com//wcc/r/1767632-1/DCD33558D45ED2DA62134EA68F52C09F?partnerref=rss-events

To listen to the presentation by telephone, dial +46856642697 (Sweden), +4723500254 (Norway), +4535445576 (Denmark), +358981710493 (Finland) or +442030089810 (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

Interim Report   January – September 2018                                   24 October 2018 

Interim Report   January – December 2018                                    21 February 2019

Interim Report   January – March 2019                                            2 May 2019 

Interim Report   January – June 2019                                             18 July 2019

For more information

For questions concerning the financial report, please contact CFO and Director of Investor Relations Olof Stålnacke (+46 10 559 59 20).

For questions concerning the operations or the company, please contact Mikael Stöhr, President and CEO,

(+46 10 559 59 35) or Magdalena Öhrn, Director of Communications (+46 10 559 55 19).

IR Coordinator: Sara Marin (+46 10 559 59 51).

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

This constitutes information which Coor Service Management Holding AB is required to publish under the EU’s Market Abuse Regulation. The information was submitted for publication through the above contact person on 18 July 2018, at 7:30 a.m. CET. 

Coor is a leading provider of facility management services in the Nordic countries, 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 ABB, AB Volvo, Aibel, Det Norske Veritas, E.ON, Ericsson, EY, NCC, Politiet (Danish Police), Saab, Sandvik, SAS, Statoil, Telia Company, the Swedish Transport Administration, Vasakronan and Volvo Cars.

Established in 1998, Coor has been listed on the Nasdaq Stockholm exchange since June 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