Interim Report, January - June 2019, Coor Service Management Holding AB

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Jul 18, 2019, 01:52 ET

STOCKHOLM, July 18, 2019 /PRNewswire/ -- Second quarter of 2019

Net sales increased by 7 per cent in the second quarter, to SEK 2,556 (2,380) 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 1 per cent to SEK 140 (138) million and the operating margin was 5.5 (5.8) per cent.
EBIT was SEK 78 (70) million. Profit after tax was SEK 44 (22) million.
Earnings per share were SEK 0.5 (0.2).
Operating cash flow was SEK 38 (77) million.

First half of 2019

Net sales for the first half of the year increased by 13 per cent and amounted to SEK 5,091 (4,507) million. Organic growth was 7 per cent and growth from acquisitions 4 per cent, while foreign exchange effects accounted for 2 per cent of the increase.
Adjusted EBITA increased by 7 per cent to SEK 271 (253) million. The operating margin was 5.3 (5.6) per cent.
EBIT was SEK 154 (127) million. Profit after tax was SEK 87 (39) million.
Earnings per share were SEK 0.9 (0.4).
Operating cash flow was SEK 162 (17) million.

"Strong development of the contract portfolio with major new contracts and successful renegotiations," Mikael Stöhr, President and CEO, Coor.

GROUP EARNINGS SUMMARY

Apr-Jun

Jan-Jun

Rolling

Full year

(SEK m)

2019

2018

2019

2018

12 mth.

2018

Net sales

2,556

2,380

5,091

4,507

10,073

9,489

Organic growth, %

Acquired growth, %

FX effects, %

Adjusted EBITA

140

138

271

253

507

490

Adjusted EBITA margin, %

5.5

5.8

5.3

5.6

5.0

5.2

EBIT

154

127

247

219

Income for the period

152

104

Operating cash flow

162

499

354

Earnings per share, SEK

0.5

0.2

0.9

0.4

1.6

1.1

Invitation to a press and analyst presentation

On 18 July, at 10:00 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/1919047-1/AAB4E616A534D82B4804A64C90E2A063?partnerref=rss-events .

To listen to the presentation by telephone, dial +46856642706 (Sweden), +4578150107 (Denmark), +358981710522 (Finland), +4723500236 (Norway) 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 2019 7 November 2019

Interim Report January-December 2019 12 February 2020

Interim Report January-March 2020 28 April 2020

Interim Report January-June 2020 17 July 2020

For further information

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

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).

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 2019, 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, AB Volvo, Aibel, Det Norske Veritas, E.ON, Ericsson, Equinor, EY, NCC, Politiet (Danish Police), Saab, Sandvik, SAS, Telia Company, Swedish Transport Administration, Vasakronan and Volvo Cars.

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

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Interim report, January - June 2019

SOURCE Coor