Interim Report, January–September 2023 Coor Service Management Holding AB
Interim Report, January–September 2023, Coor Service Management Holding AB
Third quarter of 2023
Net sales in the third quarter amounted to SEK 3,016 (2,766) million. Organic growth was 3 per cent and growth from acquisitions 4 per cent, while exchange rate effects accounted for 3 per cent.
Adjusted EBITA amounted to SEK 126 (122) million and the operating margin was 4.2 (4.4) per cent.
EBIT was SEK 78 (70) million. Profit after tax was SEK 28 (39) million.
Earnings per share were SEK 0.3 (0.4).
Cash conversion for the most recent 12-month period amounted to 93 (91) per cent.
Leverage in relation to adjusted EBITDA was 2.4 (1.8).
Full period January - September 2023
Net sales for the full period amounted to SEK 9,156 (8,701) million. Organic growth was 1 per cent and growth from acquisitions 2 per cent, while exchange rate effects accounted for 2 per cent.
Adjusted EBITA amounted to SEK 439 (481) million and the operating margin was 4.8 (5.5) per cent.
EBIT was SEK 278 (312) million. Profit after tax was SEK 125 (203) million.
Earnings per share were SEK 1.3 (2.1).
“Action program to strengthen profitability”
AnnaCarin Grandin, President and CEO, Coor
Group Earnings Summary
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|
Jul-Sep |
|
Jan-Sep |
|
Rolling |
Jan-Dec |
||
|
|
2023 |
2022 |
|
2023 |
2022 |
|
12 mth. |
2022 |
|
Net sales, SEK m |
3,016 |
2,766 |
|
9,156 |
8,701 |
|
12,244 |
11,789 |
|
Organic growth, % |
3 |
1 |
|
1 |
7 |
|
1 |
5 |
|
Acquired growth, % |
4 |
10 |
|
2 |
11 |
|
3 |
9 |
|
FX-effects, % |
3 |
3 |
|
2 |
2 |
|
2 |
3 |
|
Adjusted EBITA, SEK m |
126 |
122 |
|
439 |
481 |
|
592 |
634 |
|
Adjusted EBITA-margin, % |
4.2 |
4.4 |
|
4.8 |
5.5 |
|
4.8 |
5.4 |
|
EBIT, SEK m |
78 |
70 |
|
278 |
312 |
|
374 |
408 |
|
Income for the period, SEK m |
28 |
39 |
|
125 |
203 |
|
179 |
257 |
|
Cash conversion, % |
148 |
136 |
|
74 |
77 |
|
93 |
94 |
|
Earnings per share, SEK |
0.3 |
0.4 |
|
1.3 |
2.1 |
|
1.9 |
2.7 |
Invitation to a press and analyst presentation
On 25 October 2023 at 10:00 CEST, the company’s President and CFO will give a presentation on developments in the third quarter via a webcast. To participate in the webcast, please register in advance via the following links. The audio link is for listening only and when the participant wants to ask a verbal question. If the participants are not going to ask any questions, but want to see the presentation, just click on the link for the webcast.
Audio Conference Call Access (to register to listen to the presentation and to ask questions):
Webcast Audience URL (to register for the web presentation without asking questions):
https://onlinexperiences.com/Launch/QReg/ShowUUID=3341B363-C416-4267-8D75-985464E02870
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
8 February 2024 Interim Report January–December 2023
24 April 2024 Interim Report January–March 2024
26 April 2024 2024 AGM
12 July 2024 Interim Report January–June 2024
24 October 2024 Interim Report January–September 2024
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’s Market Abuse Regulation. The information was submitted for publication through the above contact person on 25 October 2023 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, 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