Interim Report, January – September 2017 Coor Service Management Holding AB

Third quarter of 2017

  • Net sales increased by 7 per cent in the third quarter, to SEK 1,853 (1,740) million.
  • Adjusted EBITA increased by 7 per cent to SEK 104 (97) million while the operating margin remained unchanged at 5.6 (5.6) per cent.
  • EBIT was SEK 53 (47) million and the profit after tax SEK 33 (12) million.
  • Earnings per share were SEK 0.3 (0.1).
  • Operating cash flow was SEK -16 (59) million. The change is due entirely to the quarter ending on a weekend.

The period January – September 2017

  • Net sales increased by 6 per cent in the January-September period, to SEK 5,610 (5,315) million. Organic growth excluding foreign exchange effects was 4 per cent.
  • Adjusted EBITA increased by 9 per cent to SEK 343 (314) million and the operating margin expanded to 6.1 (5.9) per cent.
  • EBIT was SEK 197 (169) million and the profit after tax was SEK 140 (74) million.
  • Earnings per share were SEK 1.5 (0.8).
  • Operating cash flow was SEK 186 (200) million.

" We have a strong development in a market that offers exiting opportunities. In the third quarter of the year Coor continued to increase its sales and operating profit. "
Mikael Stöhr, President and CEO of Coor

GROUP EARNINGS SUMMARY * Jul - Sep Jan - Sep Rolling Full year
(SEK m) 2017 2016 2017 2016 12 mth. 2016
Net sales 1,853 1,740 5,610 5,315 7,567 7,272
Organic growth, % 7 1 4 5 3 3
Adjusted EBITA 104 97 343 314 464 435
Adjusted EBITA-margin, % 5.6 5.6 6.1 5.9 6.1 6.0
EBIT 53 47 197 169 270 242
Income for the period 33 12 140 74 190 123
Operating cash flow -16 59 186 200 400 414
Earnings per share, SEK 0.3 0.1 1.5 0.8 2.0 1.3

* The report refers to the continuing operations of the Group following an agreement to sell the damage services business.

Invitation to press and analyst presentation
On 27 October, at 09:00 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/d7av2ni9. To listen to the presentation by telephone, please call +46 856642509 (Sweden), +47 23500253 (Norway), +45 82333178 (Denmark), +35 8981710491 (Finland) or +44 2030089808 (England).

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 President and CEO Mikael Stöhr (+46 10 559 59 35, mikael.stohr@coor.com) or acting Communications director Sofie Schough (+46 10 559 59 83, sofie.schough@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´s Market Abuse Regulation. This information was submitted through the efforts of the above-mentioned contact persons for publication on 27 October 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, ABB, Aibel, Det Norske Veritas, E.ON, Ericsson, EY, NCC, Politiet (Danish Police), Saab, Sandvik, SAS, Skanska, Statoil, Telia Company, Swedish Transport Administration, Vasakronan and Volvo Cars.

Coor was founded in 1998 and is listed on Nasdaq Stockholm since 2015. At June 30, 2017, the company had 6,500 employees based mainly in Sweden, Denmark, Norway and Finland, and annual sales of SEK 7,500 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