Interim Report January - June 2020 Coor Service Management Holding AB - 17.07.20 - News

STOCKHOLM, July 17, 2020

Net sales in the second quarter amounted to SEK 2,265 (2,556) million. Organic growth was -11 per cent and growth from acquisitions 2 per cent, while exchange rate effects accounted for -2 per cent.

Adjusted EBITA amounted to SEK 141 (140) million and the operating margin was 6.2 (5.5) per cent.

EBIT was SEK 86 (78) million. Profit after tax was SEK 52 (44) million.

Earnings per share were SEK 0.5 (0.5).

Operating cash flow was SEK -11 (38) million. There was a negative impact during the quarter from a strong drop in cash payments from restaurant guests. Cash conversion for the most recent 12-month period amounted to 107 (100) per cent.

Leverage in relation to adjusted EBITDA was 2.2 (2.7).

First half of 2020

Net sales in the first half of the year amounted to SEK 4,806 (5,091) million. Organic growth was -7 per cent and growth from acquisitions 2 per cent, while exchange rate effects accounted for -1 per cent.

Adjusted EBITA amounted to SEK 263 (271) million and the operating margin was 5.5 (5.3) per cent.

EBIT was SEK 147 (154) million. Profit after tax was SEK 83 (87) million.

Earnings per share were SEK 0.9 (0.9).

Operating cash flow was SEK 173 (162) million.

The first half of the year was marked by the spread of COVID-19 in the Nordic region, which had a negative impact on the company. For a summary of the impact of and Coor's actions linked to COVID-19, refer to page 3 in the report.

GROUP EARNINGS SUMMARY

Apr - Jun

Jan - Jun

Rolling

Full year

ARIVA.DE Börsen-Geflüster

Kurse

COOR SVC MGMT HLDG

4,118 €

-3,15%

(SEK m)

2020

2019

2020

2019

12 mth.

2019

Net sales

2,265

2,556

4,806

5,091

10,028

10,313

Organic growth, %

-11

5

-7

7

-2

5

Acquired growth, %

2

4

2

FX-effects, %

-2

1

-1

2

0

1

Adjusted EBITA

141

140

263

271

542

549

Adjusted EBITA-margin, %

6.2

5.5

5.3

5.4

5.3

EBIT

86

78

147

154

291

299

Income for the period

52

44

83

87

165

169

Operating cash flow

-11

38

173

162

602

591

Earnings per share, SEK

0.5

0.9

1.7

1.8

See page 24 for definitions and calculations of key performance indicators. Items affecting comparability are presented in Note 3.

Invitation to a press and analyst presentation

On 17 July 2020, at 10:00 a.m. CEST, 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:

https://onlinexperiences.com/Launch/QReg/ShowUUID=8B5002B6-8F64-4D8E-BD8C-A608A2D7CF6A

To listen to the presentation by telephone, dial +46850558356 (Sweden), +4723963938 (Norway), +4578150108 (Denmark), +358931583775 (Finland) 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 2020 4 November 2020

Interim Report January-December 2020 11 February 2021

Interim Report January-March 2021 26 April 2021

Interim Report January-June 2021 15 July 2021

For further information

For questions concerning the financial report, please contact our CFO and Director of Investor Relations Klas Elmberg (+46-10-559-6580)

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).

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