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Annual and Sustainability Report 2020 › Introduction Strategy Operations Corporate Governance Report Sustainability Report Financial statements Loomis Annual and Sustainability Report 2020 a › Introduction Strategy Operations Corporate Governance Report Sustainability Report Financial statements di Loomis improves flows of payments in society Countless transactions take place in payment securely – in local communities and across and small merchants. Our success is based on flows in society every day – when we shop for national borders. We offer distribution, processing, customer trust, knowledgeable employees, high groceries, pay our bills, get change or order prod- storage and recycling. In 2020 we launched Loomis safety and sustainable processes. The health and ucts on line. Even as the use of digital payment Pay, a unique payment platform that enhances our safety of our customers and colleagues, alongside solutions grows, cash is still the world’s most traditional core business. Loomis Pay handles all with the environment, is always our top priority. common payment method. Loomis makes sure payment types – cash, card or digital alternatives. Sustainability is an integral part of day-to-day that cash circulates quickly, cost-effectively and Loomis’s customers are mainly banks and large operations in all of our 23 markets. › Introduction Strategy Operations Corporate Governance Report Sustainability Report Financial statements Contents About Loomis President’s statement Contents All page references are clickable. › Strategy page 8 › Operations page 17 › Sustainability Report page 54 › Financial statements page 82 Introduction Corporate Governance Report Financial statements 2021 dates About Loomis 4 Corporate governance 36 Administration Report 83 Loomis’s Annual General Meeting 2021 will take place on May 6. >Read more on page 140. President’s statement 6 The Board of Directors’ Report on Financial statements 88 Internal Control and Notes 95 Interim Report Jan – March May 6, 2021 Risk Management 43 Strategy Auditor’s Report 130 Interim Report Jan – June July 23, 2021 Board of Directors 49 Trends and drivers 9 Five-year overview 135 Interim Report Jan – Sep November 3, 2021 Group Management 51 Strategy 10 Alternative performance measures 136 Signatures and auditor’s statement 53 Targets 2021 15 Definitions 139 About this report Notice of Annual General Meeting 140 The formal annual report is presented on Sustainability Report Operations pages 83–129. Sustainability is integrated Process and strategy 55 Business model 18 into the Group’s operations and the statutory Sustainability governance 57 Sustain ability Report, including the GRI Index, is Offering 20 Method and materiality analysis 71 presented on pages 54–81. Sustainability 26 KPI Summary and Key Ratios 73 Employer responsibility 28 GRI Index 79 Risk management 31 Explanation and reconciliation of alternative key fig- This is a translation of the original Swedish Annual Signatures and auditor’s statement 81 The share 33 ures in this report can be found on pages 136–138. Report. In the event of differences between the English translation and the Swedish original, the Swedish Annual Report shall prevail. Unless otherwise specified, Loomis’s internal Photography/images: Maria Lindvall, Staffan Flodquist, Micke Lundström, Olof Holdar, Xos, Harri Welling, Álvaro Benítez Alvez, Mascot and Johner. research and studies have been used. 3 › Introduction Strategy Operations Corporate Governance Report Sustainability Report Financial statements Contents About Loomis President’s statement The year in figures 400+ branches -13% lower on 23 markets CO2 emission Net sales Operating income SEK m 18,813 1,775 SEK m -19% 23,000+ less plastic full time employees consumption Loomis’ offer within payment solutions Loomis’s services as a % of total revenue in 2020 Cash in Transit* (CIT), 61% d,Cash Management 61% Services* (CMS), 30% Kontanthantering, 30% iInternational valuablesdi logistics (Valuables in Storage, VIS, Valuables in Transit VIT), 6% i Other, 3% Cash in transit Cash Management SafePoint ATMs International Physical foreign Loomis Pay * Includes revenue from SafePoint, which in Loomis’s accounts is split between CIT and CMS. (CIT) Systems (CMS) Valuables Logistics exchange (FX) (VIT/VIS) 4 › Introduction Strategy Operations Corporate Governance Report Sustainability Report Financial statements Contents About Loomis President’s statement Loomis as an investment Hundreds of thousands customer Acquisitions to strengthen Loomis’s Loomis Pay handles all payments for Our customers are visits each week geographic and technology footprint retailers Cash is the world’s most common payment method The payment market is rapidly changing and con- Our latest business development success is Loomis always in focus and and the amount of cash in circulation is increasing solidating. With its strong financials, Loomis is Pay. This complete end-to-end payment platform we make hundreds of in the majority of countries. Loomis provides cash well-positioned to implement value-generating ac- enables retailers to handle all customer payment in transit and cash management services in 23 quisitions. Our intention is to grow the core busi- preferences – from cash and cards to digital alter- thousands of customer markets and with few exceptions we are the leading ness in existing and selected growth markets, and natives. Loomis Pay is unique in its kind and pro- visits every week. provider in all of them. Loomis has hundreds of to seize buisiness opportunities offered by new vides an enhancement to Loomis’s traditional CIT thousands customers who we visit on a weekly technology helping us advance further up in the and CMS business. The primary target group is basis. customers' value chain. Loomis's global ATM ser- small and medium-sized retailers. Loomis currently vice offering and SafePoint, a comprehensive solu- has CIT and CMS service agreements with around The pandemic is affecting Loomis’s Sustained strong outsourcing trend tion developed by Loomis for retailers, are two such 85,000 merchants in the Nordic markets alone. In financial targets value-generating examples. 2020 Loomis Pay was launched in Denmark and One of the most important drivers of Loomis’s Since the Company was listed on the stock ex- the plan now is to roll out the concept in additional growth and improved profitability over many years change in 2008, Loomis has constantly met or ex- markets. The initial target is net sales exceeding is the trend among banks to outsource more and Increased digitalization ceeded its financial targets. This has in large part SEK 3 billion within five years with an attractive op- more of their advanced cash management process- The transition in the payment market continues and been possible thanks to continual development of erating margin. es. This remains a strong engine of development. the use of digital payment solutions in particular is the offering, quality improvements and a clear focus Loomis is constantly developing new solutions to growing significantly. This is presenting a complex on efficiency and cost control. The coronavirus pan- Loomis is well-positioned for new meet the growing needs of the customers. Recently and costly situation for retailers and restaurants – a demic has presented challenges and has in general advances Loomis launched an ATM service concept, a busi- situation that requires many different solutions, had a significantly negative impact on both revenue ness stream that is expected to bring in annual rev- technical systems and suppliers in order to meet Loomis’ cash and valuables handing business is and operating income. We have therefore conclud- enue of SEK 2 billion within five years. Managing the various needs and wishes of customers. fundamentally stable. We are the leading provider ed that, for the first time we will, most likely, not physical currency is another growth area expected Loomis’s strategy addresses this trend. By combin- in most of our markets, where we have long-term reach the revenue target we have communicated, to generate annual revenue of SEK 1 billion within ing traditional, automated and digital business mod- relationships with banks and retailers. Loomis’s which for 2021 was SEK 24 billion, nor the previ- three years. Retailers are also outsourcing their els, we are able to add multiple smart and cost-ef- ability to handle both cash and digital payments is ously communicated operating margin of 12–14 cash management processes. Loomis has met the fective services to those we already offer. We are unique. By combining traditional, automated and percent. Loomis has decided to remove these two industry’s desire for a simpler and safer way to simplifying cash management for retailers and we digital payment solutions, we can handle and sim- targets. Our dividend target of 40–60 percent in- manage cash through SafePoint – a smart, auto- facilitate solutions enabling banks to focus on their plify more and more parts of our customers’ cash come after tax, which for 2020 is in line with the pro- mated and cost-effective solution for cash manage- core business. handling processes. Loomis is at the center of the posed dividend of SEK 6 per share, remains in ment. SafePoint is a strong and growing business payment flow and we are well-positioned to meet place. stream. future changes in the payment market. 5 › Introduction Strategy Operations Corporate Governance Report Sustainability Report Financial statements Contents About Loomis President’s statement Resilience tested in an exceptional market The pandemic placed enormous pressure on individuals, communities and economies all around the world in 2020. It was also a challenging year for Loomis and resulted in a loss of revenue. Still, we can look back on a year in which we strengthened our position in many markets, took new stra- tegic initiatives and achieved stable profits. Our robust business model and strong team have once again proven themselves. 2020 was largely characterized by the pandemic. Our pri- for others. Second, we know that loyalty is tested in tough mary focus has and will continue to be ensuring the health times, and the ambition and commitment I have seen and safety of our customers and employees.
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