Loomis during the first six months of 2009: Continued improved operating margin

Loomis during the first six months of 2009: Continued improved operating margin

Loomis reports operating income (EBITA) [1] for the first half of 2009 of MSEK
368 (303), including exchange rate effects of MSEK 67, and an operating margin
of 5.9 percent (5.7). Income before tax amounted to MSEK 297 (220) and net
income after taxes to MSEK 208 (225). [2]

Revenue increased to MSEK 6,205 (5,316), of which organic growth comprised -2
percent (3). 

The cash flow from operating activities of MSEK 288 (-150) amounted to 78
percent of operating income (EBITA). This improvement is, among other things,
the result of lower levels of accounts receivable and investments. Profit per
share was SEK 2.85 (3.08).[2]

Second quarter

Operating income (EBITA) in the second quarter amounted to MSEK 183 (163) and
the operating margin to 6.1 percent (6.1). Income before tax for the second
quarter amounted to MSEK 148 (119) and net income after taxes was MSEK 103
(157)[2]. Revenue during the second quarter amounted to MSEK 3,018 (2,669). 

During the second quarter, Loomis has executed a strategically significant
acquisition on the Slovakian market, which is a new market for the Company,
this, via the purchase of Fenix, the country's third largest cash handling
company. Loomis has also, during the second quarter, acquired the assets and
customer contracts in the Finnish cash handling provider Ponsec Finland Oy. 

In June, Loomis' Swedish subsidiary received renewed authorization to conduct
cash transport operations. 

-Our goal to achieve an operating margin of at least 8 percent at latest 2010,
remains. In order to achieve this goal, it is necessary to undertake, on an
ongoing basis, Group-wide work related to cost reductions and to focus on
under-achieving branch offices. We must also be prepared to quickly execute
restructurings due to weakening markets and, in certain countries, even
diminishing markets, states Loomis' CEO, Lars Blecko. 

1) Income Before Interest, Taxes and Amortization of acquisition-related
intangible fixed assets. 

2) The previous year's net income after taxes was positively impacted by the
utilization of previously non-valued loss carry forwards in the UK.

For more information, please contact:
Lars Blecko +46 70 641 49 10

Loomis offers safe and effective solutions for the distribution, handling and
recycling of cash for banks, retailers and other commercial companies via an
international network of more than 370 branch offices in 12 European countries
and in the USA. The Group has approximately 20,000 employees and a turnover of
approximately SEK 12 billion. Loomis is a mid-cap listed company on the NASDAQ
OMX Stockholm