Loomis Ab · OMXSTO:LOOMIS
Loomis Ab — Investor Day (November 2010)
16 slides from Loomis Ab's investor day presentation, Nov 17, 2010
Slide 1: Post-IPO Development
Post-IPO Development Marcus Hagegård, VP Finance Capital Market Day Stockholm, November 17, 2010
Slide 2: Loomis History
Loomis History • Two years on the stock exchange, 160 years in the business 1850 1850 1925 1925 2010 2010 2
Slide 3: Historical Margin Development
Historical Margin Development 2003 2004 2005 2006 2007 2010 3
Slide 4: Restructuring path
Restructuring path Loomis 2008 2009 2010 2011 2012 UK UK restructuring restructuring Sweden Sweden restructuring restructuring US US restructuring restructuring France France restructuring restructuring 4
Slide 5: Restructuring path – France
Restructuring path – France • Change Senior Management • Country centralization of all non-operating functions – Risk, HR, Finance and Sales • Delegate responsibility to Branch managers – and replace those who do not perform • Reduce Middle management – Area staff • Evaluate branch network • Focus o
Slide 6: Analysis of the Branches
Analysis of the Branches 100% 90% 26% 23% 26% 30% 30% 28% 80% 70% 60% 50% 40% 74% 77% 74% 70% 70% 72% 30% 20% 10% 0% Q3-08 Q3-09 Q3-10 YTD-08 YTD-09 YTD-10 Performing Non-performing 6
Slide 7: Restructuring path – France
Restructuring path – France • Change Senior Management • Country centralization of all non-operating functions – Risk, HR, Finance and Sales • Delegate responsibility to Branch managers – and replace those who do not perform • Reduce Middle management – Area staff • Evaluate branch network • Focus o
Slide 8: Restructuring path – USA
Restructuring path – USA Old organization: 1 1 President 2 5 Reg Dir …filters... and politics 3 30 Gen Mgrs 4 150 Branch Mgrs 8
Slide 9: Restructuring path – USA
Restructuring path – USA New organization: 1 1 President 2 12 District Mgrs 3 150 Branch Mgrs 4 9
Slide 10: Restructuring path – France
Restructuring path – France • Change Senior Management • Country centralization of all non-operating functions – Risk, HR, Finance and Sales • Delegate responsibility to Branch managers – and replace those who do not perform • Reduce Middle management – Area staff • Evaluate branch network • Focus o
Slide 11: Head count development
Head count development FTE's & Revenue / FTE (FX adj) KSEK FTE's Revenue / FTE 21,000 600 20,000 595 590 19,000 585 18,000 580 17,000 575 16,000 570 2008 2009 Q3, 2010 FTE's R12 Revenue per FTE, FX adjusted 11
Slide 12: Margin improvements
Margin improvements Trend Activities Impact on margin Price • Price pressure in • Premium Brand and several markets Premium Price • Pressure for salary • Price increase above increases despite wage increase economic climate Branch • Decrease in number • All Branches individually of underperforming m
Slide 13: Operating margin development
Operating margin development Rolling 12 months operating margin 7.9% 10% Quarters 9% Rolling 8% 12 months 7% 6% 5% 4% 3% 2% 1% 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2007 2008 2009 2010 13
Slide 14: Cash Flow
Cash Flow Use of Free cash flow 3% 63% 34% 1 BSEK generated 2009 to Q3 2010 Acquisitions Dividend Pay down debt 14
Slide 15: Net debt development
Net debt development Net debt & leverage (GAAP) Net debt, MSEK Leverage 3,000 3.0 2,500 2.5 2,000 2.0 1,500 1.5 1,000 1.0 500 0.5 0 0 Q4, Q1, Q2, Q3, Q4, Q1, Q2, Q3, 2008 2009 2009 2009 2009 2010 2010 2010 Net debt Leverage, GAAP 15
Slide 16: LOOMIS
\ LOOMIS Managing cash in society.