Interim Report, January – June 2024, Coor Service Management Holding AB

Interim Report, January – June 2024, Coor Service Management Holding AB

Second quarter of 2024

  • Net sales in the second quarter amounted to SEK 3,180 (3,162) million. Organic growth was -1 per cent and growth from acquisitions 1 per cent, while exchange rate effects accounted for 0 per cent.
  • Adjusted EBITA amounted to SEK 161 (161) million and the operating margin was 5.1 (5.1) per cent.
  • EBIT was SEK 131 (94) million. Profit after tax was SEK 60 (42) million.
  • Earnings per share were SEK 0.6 (0.4).
  • Cash conversion for the most recent 12-month period amounted to 92 (90) per cent. 
  • Leverage in relation to adjusted EBITDA was 2.7 (2.6).

 

First half of 2024

  • Net sales in the first half of the year amounted to SEK 6,304 (6,140) million. Organic growth was 1 per cent and growth from acquisitions 2 per cent, while exchange rate effects accounted for 0 per cent.
  • Adjusted EBITA amounted to SEK 321 (313) million and the operating margin was 5.1 (5.1) per cent.
  • EBIT was SEK 256 (200) million. Profit after tax was SEK 122 (97) million.
  • Earnings per share were SEK 1.3 (1.0).

 

 

“A half-year with successful contract extensions”

  AnnaCarin Grandin, President and CEO, Coor

 

   

Group Earnings Summary

  

 Apr - Jun 

  

 Jan - Jun 

  

 Rolling 

 Jan-Dec 

  

2024  

2023  

  

2024  

2023  

  

12 mth.  

2023  

Net sales, SEK m 

3,180  

3,162  

  

6,304  

6,140  

  

12,607  

12,443  

 Organic growth, % 

-1  

2  

  

1  

1  

  

2  

2  

 Acquired growth, % 

1  

2  

  

2  

1  

  

3  

2  

 FX-effects, % 

0  

2  

  

-0  

2  

  

1  

1  

Adjusted EBITA, SEK m 

161  

161  

  

321  

313  

  

613  

606  

Adjusted EBITA-margin, % 

5.1  

5.1  

  

5.1  

5.1  

  

4.9  

4.9  

EBIT, SEK m 

131  

94  

  

256  

200  

  

420  

364  

Income for the period, SEK m 

60  

42  

  

122  

97  

  

181  

155  

Cash conversion LTM, % 

-  

-  

  

-  

-  

  

92  

86  

Earnings per share, SEK 

0.6  

0.4  

  

1.3  

1.0  

  

1.9  

1.6  

 

 

Invitation to a press and analyst presentation

On 12 July 2024 at 10:00 CEST, the company’s President and CFO will give a presentation on developments in the first quarter via a webcast.

To participate in the webcast, please register in advance via the following links. If the participants are not going to ask any questions, but want to see the presentation, just click on the link for the webcast. The audio link is for listening only and when the participant wants to ask a verbal question.

Webcast Audience URL (to register for the web portion without the possibility to ask questions):

https://onlinexperiences.com/Launch/QReg/ShowUUID=FA8BB4CC-F6CC-4EEE-BD26-17D6C6A11B23

Audio Conference Call Access (to register for the audio and the possibility to ask questions verbally):

https://emportal.ink/3UHE53q

The power point presented as well as a recording of the webcast will be published on the Company's website www.coor.com under the Investors/Reports and presentations-tab.

 

Financial calendar

24 October 2024                    Interim Report January–September 2024

6 February 2025                    Year-End Report January–December 2024

23 April 2025                         Interim Report January–March 2025

25 April 2025                         AGM 2025

July 2025                              Interim Report January–June 2025

 

For further information

For questions concerning the financial report, please contact our CFO and Director of Investor Relations Andreas Engdahl (+46 10 559 54 63).

For questions concerning the operations or the company in general, please contact AnnaCarin Grandin, President and CEO (+46 10 559 57 70) 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 Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication through the above contact person on 12 July 2024 at 7:30 a.m. CEST.

 

About Coor:

As the leading provider of facility management services, Coor aims to create the happiest, healthiest, and most prosperous workplace environments in the Nordic region. Coor offers specialist expertise in workplace services, property services and strategic advisory services. Coor creates value by executing, developing, and streamlining our customers’ service activities. This enables our customers to do what they do best.

Coor’s customer base includes many large and small companies and public-sector organisations across the Nordic region, including ABB, Aibel, Alleima, the Danish Building and Property Agency, DNV, DSB, Equinor, ICA, IKEA, Karolinska University Hospital in Solna, PKA - “Danish Police, Public Prosecution Authority and Prison and Probation Service”, PostNord, Saab, SAS, Skanska, Swedbank, Telia Company, Vasakronan and Volvo Cars.

Coor was founded in 1998 and has been 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