Year-End Report 2019, January–December Coor Service Management Holding AB

Fourth quarter of 2019                                                   

• Net sales increased by 5 per cent in the fourth quarter to SEK 2,732 (2,613) million. Organic growth was 3 per cent and growth from acquisitions 2 per cent, while foreign exchange effects accounted for 0 per cent of the increase.
• Adjusted EBITA increased by 12 per cent to SEK 152 (135) million and the operating margin was 5.6 (5.2) per cent. 
• EBIT was SEK 74 (55) million. Profit after tax was SEK 42 (42) million.
• Earnings per share were SEK 0.4 (0.4).
• Operating cash flow was SEK 311 (283) million.
• The Board of Directors proposes a dividend for 2019 of SEK 4.40 (4.00) per share, of which SEK 2.20 (2.00) is ordinary and SEK 2.20 (2.00) an extra dividend.

Full-year 2019

• Net sales for full-year 2019 increased by 9 per cent to SEK 10,313 (9,489) million. Organic growth was 5 per cent and growth from acquisitions 2 per cent, while foreign exchange effects accounted for 1 per cent of the increase.
• Adjusted EBITA increased by 12 per cent to SEK 549 (490) million. The operating margin was 5.3 (5.2) per cent.
• EBIT was SEK 299 (219) million. Profit after tax was SEK 169 (104) million.
• Earnings per share were SEK 1.8 (1.1).
• Operating cash flow was SEK 591 (354) million.

“Another strong year for Coor – continued growth and our highest operating profit to date” Mikael Stöhr, President and CEO, Coor

GROUP EARNINGS SUMMARY	Oct–Dec			Jan–Dec
(SEK m)	2019	2018		2019	2018
Net sales	2,732	2,613		10,313	9,489
Organic growth, %	3	9		5	10
Acquired growth, %	2	11		2	10
FX effects, %	0	3		1	3
Adjusted EBITA	152	135		549	490
Adjusted EBITA margin, %	5.6	5.2		5.3	5.2
EBIT	74	55		299	219
Income for the period	42	42		169	104
Operating cash flow	311	283		591	354
Earnings per share, SEK	0.4	0.4		1.8	1.1

See page 26 for definitions and calculations of key performance indicators. Non-recurring items are presented in Note 3.

Invitation to a press and analyst presentation

On 12 February 2020, at 10:00 a.m. CET, the company’s President and CFO will give a presentation on the developments in the fourth quarter in a webcast. To participate in the webcast, please register in advance using the following link:

https://event.on24.com/wcc/r/2150355/E28876FACFF452C2C201E1428A89A5C0

To listen to the presentation by telephone, dial +46851999383 (Sweden), +4723500236 (Norway), +4578150107 (Denmark), +358981710521 (Finland) or +443333009260 (UK).

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

Annual General meeting 2020

The Annual General Meeting will be held on 28 April, at 15:00 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 24 March.

Financial calendar

Annual report 2019                                                                        Week 14 2020

Interim Report   January–March 2020                                           28 April 2020

Annual General Meeting                                                                28 April 2020

Interim Report   January–June 2020                                               17 July 2020

Interim Report   January–September 2020                                     4 November 2020

For further information

For questions concerning the financial report, please contact our CFO and Director of Investor Relations Klas Elmberg (+46 10 559 65 80).

For questions concerning the operations or the company in general, please contact Mikael Stöhr, President and CEO (+46 10 559 59 35) or Magdalena Öhrn, Director of Communications (+46 10 559 55 19).

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

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 persons on 12 February 2020, 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, property services 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. This includes property, cleaning, restaurants, security, and mail and reception services. Coor’s customer base includes many large and small companies and public-sector organisations across the Nordic region, including ABB, Aibel, Det Norske Veritas, E.ON, Ericsson, Equinor, ICA, NCC, Politiet (Danish Police), Saab, Sandvik, SAS, Telia Company, Swedish Transport Administration, Vasakronan, Volvo Cars and Volvo Group.

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