Slide 1: January – December 2009
January – December 2009 President and CEO: Lars Blecko Stockholm February 9, 2010
Slide 2: Contents
Contents Highlights Q4 2009 Market development Segments Financial highlights Going forward 2
Slide 3: Highlights Q4 2009
Highlights Q4 2009 Challenging market situations in certain geographic areas. Signs of stabilization in several markets. Organic growth amounted to -3 percent (2) of which lower fuel surcharges were -1 percent. Profitability prioritized over revenue growth Successful work with cost reduction
Slide 4: Contents
Contents Highlights Q4 2009 Market development Segments Financial highlights Going forward 4
Slide 5: Favorable market trends
Market development Favorable market trends Banks increasingly outsource cash Outsourcing handling operations. Currently slow Retailers seeking efficient and safe cash handling solutions Few Global companies, many local Favorable market Consolidation trends for Loomis Barriers to entry Cash
Slide 6: SafePoint™ Solution
Market development SafePoint™ Solution 6
Slide 7: Favorable market trends
Market development Favorable market trends Banks increasingly outsource cash Outsourcing handling operations. Currently slow Retailers seeking efficient and safe cash handling solutions Few Global companies, many local Favorable market Consolidation trends for Loomis Barriers to entry Cash
Slide 8: Growth – strong underlying drivers
Market development Growth – strong underlying drivers Notes in circulation, USA (USD bn) 30 CAGR 4.1% 25 20 15 10 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 Notes in circulation, Western Europe (EUR bn) 14 7.5% CAGR 12 10 8 6 2002 2003 2004 2005 20
Slide 9: Contents
Contents Highlights Q4 2009 Market development Segments Financial highlights Going forward 9
Slide 10: Europe Q4 2009
Segments Europe Q4 2009 Revenue development Quarters, MSEK Rolling 12, MSEK 2 500 7 800 7 600 2 000 7 400 Organic growth -1 percent (1). 7 200 1 500 7 000 6 800 Stabilization in important markets. 1 000 6 600 500 6 400 Several markets show signs of recovery. 6 200 0 6 000 Q1 Q2 Q3 Q4 Q1 Q2 Q3
Slide 11: USA Q4 2009
Segments USA Q4 2009 Revenue development Quarters, MUSD Rolling 12, MUSD 180 610 160 600 Organic growth -6 percent (4) of which lower 140 590 fuel surcharges -1 percent. 120 580 570 100 560 80 550 Revenue impacted by recession, technology 60 540 530 and contract losses. Stabilized at a lower lev
Slide 12: Revenue by product line – USA
Segments Revenue by product line – USA 2008 2009 1% 1% 17% 19% 82% 80% Transport CMS Technical => US CMS volumes largely unaffected by recession 12
Slide 13: Contents
Contents Highlights Q4 2009 Market development Segments Financial highlights Going forward 13
Slide 14: Statement of income
Financial highlights Statement of income Statement of income, Oct–Dec Oct–Dec Variance, Jan–Dec Jan–Dec Variance, MSEK 2009 2008 % 2009 2008 % Revenue 2,880 3,107 -7 11,989 11,258 6 Organic revenue growth, % -3 2 –3 3 Operating income before amortization (EBITA) 237 239 -1 837 748 12 Operating margi
Slide 15: Revenue bridge 2008 to 2009
Financial highlights Revenue bridge 2008 to 2009 14000 13000 995 12000 55 11989 11000 11258 -319 10000 9000 8000 Revenue, Acquisitions Organic Foreign Revenue, Jan–Dec 2008 Revenue exhange Jan–Dec 2009 15
Slide 16: Statement of income
Financial highlights Statement of income Statement of income, Oct–Dec Oct–Dec Variance, Jan–Dec Jan–Dec Variance, MSEK 2009 2008 % 2009 2008 % Revenue 2,880 3,107 -7 11,989 11,258 6 Organic revenue growth, % -3 2 –3 3 Operating income before amortization (EBITA) 237 239 -1 837 748 12 Operating margi
Slide 17: Operating margin development
Financial highlights Operating margin development Quarters, MSEK 10% 9% 8% 7% 6% 5% 4% 3% 2% 1% 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2007 2008 2009 Quarters Rolling 12 17
Slide 18: Revenue and number of employees
Financial highlights Number of Employees (FTE) 19 600 11400 19 400 19 200 11200 19 000 Revenue, MSEK 11000 18 800 Nr FTE 18 600 10800 18 400 18 200 10600 18 000 17 800 10400 17 600 17 400 10200 2007 2008 2009 Nr of employees Revenue, FX adjusted - Organic revenue decreased 3% - FTE’s decreased by 6%
Slide 19: Analysis of the Branches
Financial highlights Analysis of the Branches 100% 90% 26% 32% 29% 30% 29% 29% 29% 28% 80% 70% 60% 50% 40% 71% 70% 71% 71% 70% 74% 72% 68% 30% 20% 10% 0% Q1-08 Q2-08 Q3-08 Q4-08 Q1-09 Q2-09 Q3-09 Q4-09 Performing Non-performing 19
Slide 20: Cash flow from operating activities
Financial highlights Cash flow from operating activities Oct–Dec Oct–Dec Jan–Dec Jan–Dec Statement of cash flows, MSEK 2009 2008 2009 2008 EBITA 237 239 837 748 Depreciation 175 187 752 675 Change in accounts receivable 132 172 85 79 DSO 37 39 37 39 Change in other capital employed 15 -84 -82 -231 C
Slide 21: Contents
Contents Highlights Q4 2009 Market development Segments Financial highlights Going forward 21
Slide 22: Going forward
Going forward Market development Some markets remain challenging, but signs of stabilization. Service frequency hampered by low interest rates. Long term trend of cash in circulation continues. Outsourcing trend in bank segment continued slow, while retail segment is improving. Measures
Slide 23: Q&A
Q&A
Slide 24: Managing Cash in Society
24 Managing Cash in Society