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2020-07-17

Interim Report January - June 2020 Coor Service Management Holding AB

Second quarter of 2020                                                                                                                     

  • Net sales in the second quarter amounted to SEK 2,265 (2,556) million. Organic growth was -11 per cent and growth from acquisitions 2 per cent, while exchange rate effects accounted for -2 per cent.
  • Adjusted EBITA amounted to SEK 141 (140) million and the operating margin was 6.2 (5.5) per cent.
  • EBIT was SEK 86 (78) million. Profit after tax was SEK 52 (44) million.
  • Earnings per share were SEK 0.5 (0.5).
  • Operating cash flow was SEK -11 (38) million. There was a negative impact during the quarter from a strong drop in cash payments from restaurant guests. Cash conversion for the most recent 12-month period amounted to 107 (100) per cent.
  • Leverage in relation to adjusted EBITDA was 2.2 (2.7).

First half of 2020

  • Net sales in the first half of the year amounted to SEK 4,806 (5,091) million. Organic growth was -7 per cent and growth from acquisitions 2 per cent, while exchange rate effects accounted for -1 per cent.
  • Adjusted EBITA amounted to SEK 263 (271) million and the operating margin was 5.5 (5.3) per cent.
  • EBIT was SEK 147 (154) million. Profit after tax was SEK 83 (87) million.
  • Earnings per share were SEK 0.9 (0.9).
  • Operating cash flow was SEK 173 (162) million.
  • The first half of the year was marked by the spread of COVID-19 in the Nordic region, which had a negative impact on the company. For a summary of the impact of and Coor's actions linked to COVID-19, refer to page 3 in the report.

GROUP EARNINGS SUMMARY Apr - Jun Jan - Jun Rolling Full year
 (SEK m) 2020 2019 2020 2019 12 mth. 2019
Net sales 2,265 2,556   4,806 5,091   10,028 10,313
 Organic growth, % -11 5 -7 7 -2 5
 Acquired growth, % 2 2 2 4 2 2
 FX-effects, % -2 1 -1 2 0 1
Adjusted EBITA 141 140   263 271   542 549
Adjusted EBITA-margin, % 6.2 5.5   5.5 5.3   5.4 5.3
EBIT 86 78   147 154   291 299
Income for the period 52 44   83 87   165 169
Operating cash flow -11 38   173 162   602 591
Earnings per share, SEK 0.5 0.5   0.9 0.9   1.7 1.8

See page 24 for definitions and calculations of key performance indicators. Items affecting comparability are presented in Note 3.

Invitation to a press and analyst presentation

On 17 July 2020, at 10:00 a.m. CEST, 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:

https://onlinexperiences.com/Launch/QReg/ShowUUID=8B5002B6-8F64-4D8E-BD8C-A608A2D7CF6A

To listen to the presentation by telephone, dial +46850558356 (Sweden), +4723963938 (Norway), +4578150108 (Denmark), +358931583775 (Finland) or +443333009261 (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 2020                                       4 November 2020

Interim Report January-December 2020                                        11 February 2021

Interim Report January-March 2021                                              26 April 2021

Interim Report January-June 2021                                                 15 July 2021

For further information

For questions concerning the financial report, please contact our CFO and Director of Investor Relations Klas Elmberg (+46 10 559 6580)

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.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 17 July 2020, at 7:30 a.m. CEST.

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, 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. 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, Equinor, EY, NCC, Politiet (Danish police), Saab, Sandvik, SAS, 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

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