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Annual Report Loomis Annual Report 2016 2 Contents PRESENTATION OF LOOMIS CORPORATE GOVERNANCE REPORT About Loomis 1 Corporate governance 38 President’s statement 2 Board of Directors 46 Operations 6 Group Management 48 Strategy and growth areas 10 The Loomis Model 12 FINANCIAL STATEMENTS 0 Financial targets 14 Administration Report 51 Loomis in the world 16 Consolidated statement of income 56 Segment Europe 20 Consolidated balance sheet 57 Segment USA 22 Consolidated statement of cash flows 58 Segment International 24 Consolidated statement of changes in equity 59 Employees 26 Notes – Group 60 Sustainability 30 Parent Company statement of income 94 Risk management 34 Parent Company balance sheet 95 The share 36 Parent Company statement 96 1 of cash flows Parent Company statement of changes in equity 97 Notes – Parent Company 98 Auditor’s Report 105 Annual Report Five-year overview 110 Notice of Annual General Meeting 112 Addresses 113 Unless otherwise specified, Loomis’ internal investigations and studies have been used. Loomis AB, Drottninggatan 82, 4th floor, Box 702, 101 33 Stockholm, Sweden This is a translation of the original Swedish Annual Report. In the event of differences between Phone: +46 8 522 920 00, www.loomis.com the English translation and the Swedish original, the Swedish Annual Report shall prevail. Loomis Annual Report 2016 2 Contents PRESENTATION OF LOOMIS CORPORATE GOVERNANCE REPORT About Loomis 1 Corporate governance 38 President’s statement 2 Board of Directors 46 Operations 6 Group Management 48 Strategy and growth areas 10 The Loomis Model 12 FINANCIAL STATEMENTS 0 Financial targets 14 Administration Report 51 Loomis in the world 16 Consolidated statement of income 56 Segment Europe 20 Consolidated balance sheet 57 Segment USA 22 Consolidated statement of cash flows 58 Segment International 24 Consolidated statement of changes in equity 59 Employees 26 Notes – Group 60 Sustainability 30 Parent Company statement of income 94 Risk management 34 Parent Company balance sheet 95 The share 36 Parent Company statement 96 1 of cash flows Parent Company statement of changes in equity 97 Notes – Parent Company 98 Auditor’s Report 105 Annual Report Five-year overview 110 Notice of Annual General Meeting 112 Addresses 113 Unless otherwise specified, Loomis’ internal investigations and studies have been used. Loomis AB, Drottninggatan 82, 4th floor, Box 702, 101 33 Stockholm, Sweden This is a translation of the original Swedish Annual Report. In the event of differences between Phone: +46 8 522 920 00, www.loomis.com the English translation and the Swedish original, the Swedish Annual Report shall prevail. 2016 The 2017 Annual General Meeting will take President’s Addresses Annual place at 5 p.m. CET on Thursday, May 4, 2017 statement Organic growth in General in Grünewaldsalen, Stockholm Concert Hall. Meeting Read more on page 112. the USA amounted to 11 HEAD OFFICE Denmark Slovakia United Kingdom Loomis AB Loomis Danmark A/S Loomis SK, a.s. Loomis UK Ltd percent, driven primarily Drottninggatan 82 Litauen Alle 6 Vajnorská 140 1 Alder Court, 111 36 Stockholm DK - 2630 Taastrup 831 04 Bratislava Rennie Hogg Road 2016 Phone: +46 8 522 920 00 Phone: +45 7026 4242 Phone: +421 2 3233 6114 Nottingham on increased revenue [email protected] www.loomis.dk www.loomis.sk NG2 1RX UK numbers 11.2 % 18 % 8 SEK www.loomis.com Phone: +44 115 964 5100 www.loomis.co.uk Operating margin Earnings per share The Board of Directors is from CMS and SafePoint. (EBITA) increased by improved by 18% to proposing a dividend of SEK Argentina Finland Spain USA Loomis Argentina Loomis Suomi Oy Loomis Spain, S.A. Loomis US 11.2% (10.6%) SEK 16.73 8 per share for 2016 (SEK 7) Tucumán 540 Piso 6o Of.B Turvalaaksontie 1 C/ Ahumaos, 35–37 2500 City West Blvd., Ciudad Autónoma de 017 40 Vantaa Polígono Industrial Suite 900 Buenos Aires Phone: +358 20 430 3000 La Dehesa de Vicalvaro Houston, TX 77042 Phone: +54 11 4931 4408 www.loomis.fi 28052 Madrid Phone: +1 713 435 6700 www.loomis.com.ar Phone: +34 917 438 900 www.loomis.us www.loomis.es New President Loomis expands in Divestment of REVENUE 2012–2016, SEK BILLION OPERATING MARGIN (EBITA) 2012–2016, % Other Financial 18 12 and CEO Denmark through general cargo Austria France Sweden Loomis International events performance 16 acquisition of BKS operations Loomis Österreich GmbH Loomis France SASU Loomis Sverige AB Loomis International Corporate AG On May 4 Patrik Anderson 10 Nordbahnstrasse 36/3/1 ZAC du Marcreux Vallgatan 11 Obstgartenstrasse 27 14 took over as the new In August Loomis’ Danish In July Loomis sold its 1020 Wien 20, rue Marcel Carné 170 09 Solna 8302 Kloten President and CEO of 12 Phone: +43 1 211 110 93300 Aubervilliers Cedex Phone: +46 8 522 246 00 Schweiz subsidiary acquired general cargo operations 8 www.loomis.at Phone: +33 1 41 61 24 78 www.loomis.se Phone: +41 44 804 92 92 Loomis AB. Bankernes Kontantservice to Rhenus Alpina AG. 10 www.loomis.fr www.loomis-international.com A/S (BKS). The acquisition Loomis took over these 8 6 has made Loomis the operations in connection 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 Belgium Norway Switzerland market leader in Denmark with the acquisition of VIA Cobelguard CIT NV Loomis Norge AS Loomis Schweiz AG and has enabled Loomis MAT in 2014. The divest- NET DEBT/EBITDA 2012–2016, % ANNUAL DIVIDEND 2012–2016, SEK Ottergemsesteenweg 419 Urtegata 9 Steinackerstrasse 49 B - 9000 Gent Gronland 8302 Kloten to expand its customer ment has allowed Loomis 3.0 % portfolio and to now to focus on its remaining 10 60 Phone: +32 9 243 70 80 0133 Oslo Phone: +41 43 488 90 00 2.5 www.cobelguard.be Phone: +47 23 03 80 50 www.loomis.ch provide services core business, internatio- 2.0 8 50 www.loomis.no to both banks and retail nal valuables logistics. 1.5 customers. 6 40 Czech Republic Portugal Turkey 1.0 Loomis Czech Republic a.s Loomis Portugal, S.A Loomis Güvenlik Hizmetleri 0.5 4 30 Sezemická 2853/4 Rua Rodrigues Lobo no 2 A.S. 0.0 193 00 Prag Horní 2799-553 Linda-a-Velha Yenibosna Köyaltı Mevkii, 29 2012 2013 2014 2015 2016 2 20 Po ernice Phone: +351 210 122 500 Ekim Caddesi 2012 2013 2014 2015 2016* č Phone: +420 277 003 850 www.loomis.pt No:1 Kuyumcukent 1. Plaza Dividend per share www.loomis.cz Kat:8 D:838 Dividend per share as percent of earnings per share 34520 Bahçelievler Istanbul * Dividend proposal for the 2017 Annual General Meeting. Phone: +90 212 603 03 70 www.loomis.com.tr 1852 1905 1925 2008 2011–2012 2014 2016 160-year Wells Fargo & Co is Lee Loomis starts The Loomis Armored On December 9 Loomis acquires Loomis acquires VIA In August Loomis established during the a company that uses Car Service is formed Loomis is listed on Pendum in the USA MAT and expands its acquires Bankernes history California Gold Rush. dogsleds to provide and is the first to use Nasdaq Stockholm. and becomes the US service offering to include Kontantservice A/S Later the company Alaska’s miners with an armored vehicle market leader. Loomis international valuables in Denmark. The becomes co-owner supplies. to transport cash. The expands into South logistics. The acquisition acquisition makes of the legendary Pony company expands for America through the also makes Loomis the Loomis the market Express – the first many years in Western acquisition of the market leader in this leader in Denmark. express mail service USA and Canada. Argentine company segment in the Swiss in North America. Vigencia. market. Production Loomis in cooperation with Diplomat Communications AB Photo Staffan Flodquist, Maria Lindvall, Micke Lundström, Jim Broadhead and photos from the Loomis image archive Design YouMe Agency AB DTP Gylling Produktion AB Printing Elanders 2017 2016 The 2017 Annual General Meeting will take place President’s Addresses Annual at 5 p.m. CET on Thursday, May 4, 2017 in the statement Organic growth in General Grünewaldsalen, Stockholm Concert Hall. Read Meeting more on page 112. the USA amounted to 11 HEAD OFFICE Denmark Slovakia United Kingdom Loomis AB Loomis Danmark A/S Loomis SK, a.s. Loomis UK Ltd percent, driven primarily Drottninggatan 82 Litauen Alle 6 Vajnorská 140 1 Alder Court, 111 36 Stockholm DK - 2630 Taastrup 831 04 Bratislava Rennie Hogg Road 2016 Phone: +46 8 522 920 00 Phone: +45 7026 4242 Phone: +421 2 3233 6114 Nottingham on increased revenue [email protected] www.loomis.dk www.loomis.sk NG2 1RX UK numbers 11.2 % 18 % 8 SEK www.loomis.com Phone: +44 115 964 5100 www.loomis.co.uk Operating margin Earnings per share The Board of Directors is from CMS and SafePoint. (EBITA) increased by improved by 18% to proposing a dividend of SEK Argentina Finland Spain USA Loomis Argentina Loomis Suomi Oy Loomis Spain, S.A. Loomis US 11.2% (10.6%) SEK 16.73 8 per share for 2016 (SEK 7) Tucumán 540 Piso 6o Of.B Turvalaaksontie 1 C/ Ahumaos, 35–37 2500 City West Blvd., Ciudad Autónoma de 017 40 Vantaa Polígono Industrial Suite 900 Buenos Aires Phone: +358 20 430 3000 La Dehesa de Vicalvaro Houston, TX 77042 Phone: +54 11 4931 4408 www.loomis.fi 28052 Madrid Phone: +1 713 435 6700 www.loomis.com.ar Phone: +34 917 438 900 www.loomis.us www.loomis.es New President Loomis expands in Divestment of REVENUE 2012–2016, SEK BILLION OPERATING MARGIN (EBITA) 2012–2016, % Other Financial 18 12 and CEO Denmark through general cargo Austria France Sweden Loomis International events performance 16 acquisition of BKS operations Loomis Österreich GmbH Loomis France SASU Loomis Sverige AB Loomis International Corporate AG On May 4 Patrik Anderson 10 Nordbahnstrasse 36/3/1 ZAC du Marcreux Vallgatan 11 Obstgartenstrasse 27 14 took over as the new In August Loomis’ Danish In July Loomis sold its 1020 Wien 20, rue Marcel Carné 170 09 Solna 8302 Kloten President and CEO of 12 Phone: +43 1 211 110 93300 Aubervilliers Cedex Phone: +46 8 522 246 00 Schweiz subsidiary acquired general cargo operations 8 www.loomis.at Phone: +33 1 41 61 24 78 www.loomis.se Phone: +41 44 804 92 92 Loomis AB.
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