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Annual Report Is Presented on Pages Business Model 20 Results 79 Statement of Income 135 87–143 Introduction Strategy Operations Corporate Governance Report Sustainability Report Financial statements Loomis Annual and Sustainability Report 2019 › Clickable PDF a › Introduction Strategy Operations Corporate Governance Report Sustainability Report Financial statements Contents About Loomis President’s statement Contents All page references are clickable. › Strategy page 9 › Operations page 19 › Sustainability Report page 59 › Financial statements page 86 Introduction Corporate Governance Report Financial statements Date 2020 About Loomis 3 Corporate governance 40 Administration Report 87 Loomis’s Annual General Meeting 2020 will take President’s statement 7 The Board’s Report on Internal Group place at on May 6 at 5 pm CEST at Stockholm Control and Risk Management 47 Statement of income 93 Concert Hall, Stockholm, Sweden. <Read more on page 151. Strategy Board of Directors 54 Balance sheet 94 Interim Report Jan – March May 6, 2020 Strategy 10 Group Management 56 Statement of cash flows 95 Interim Report Jan – June July 24, 2020 Signatures and auditor’s statement 58 Targets 2021 14 Statement of changes Interim Report Jan – Sept November 5, 2020 Business climate and markets 17 in equity 96 Sustainability Report Notes 97 About this report Operations Sustainability Report 60 Parent Company The formal Annual Report is presented on pages Business model 20 Results 79 Statement of income 135 87–143. Sustainability is integrated into the Key ratios 80 Balance sheet 136 Group’s operations, The statutory Sustainability Sustainability 23 Report, including the GRI Index, is presented on Segment Europe 25 GRI Index 83 Statement of cash flows 137 pages 59–85. Segment USA 28 Signatures and auditor’s statement 85 Statement of changes in equity 137 Employer responsibility 31 This is a translation of the original Swedish Annual Notes 138 Risk management 34 Report. In the event of differences between the Auditor’s Report 145 The share 36 English translation and the Swedish original, the Five-year overview 149 Swedish Annual Report shall prevail. Notice of Annual General Meeting 151 Unless otherwise specified, Loomis’s internal investigations and studies have been used. Loomis Annual and Sustainability Report 2019 2 › Introduction Strategy Operations Corporate Governance Report Sustainability Report Financial statements Contents About Loomis President’s statement The year in figures 2019 - another strong year Loomis has operations in 23 markets, +400 branches 21 2.6 SEK bn net sales SEK bn operating income 22 25 SEK earnings per share thousand full-time employees Loomis’s services as a % of total revenue in 2019 Cash in Transit* (CIT), 61% Cash Management Services* (CMS), 31% International valuables logistics (Valuables in Storage, VIS, Valuables in Transit VIT), 5% Other, 3% * Includes revenue from SafePoint, which in Loomis’s accounts is split between CIT and CMS. > For more key ratios, see Loomis’s Administration Report starting on page 87. >Loomis’s Sustainability Report starts on page 59. Loomis Annual and Sustainability Report 2019 3 › Introduction Strategy Operations Corporate Governance Report Sustainability Report Financial statements Contents About Loomis President’s statement Loomis is improving cash flow efficiency in society Cash is the most common payment method in the both in the local community and internationally. The work is integrated into the daily operations and world. Bank notes and coins circulate among banks, success of the business is based on customer trust, summed up in six focus areas: zero vison for injuries, consumers and retailers every day. With skilled a high level of safety and security and processes that environmental responsibility through reduced carbon employees, secure CIT vehicles and technically are more cost-effective and sustainable, enabling emissions and plastic usage, being a responsible advanced equipment, Loomis ensures that cash Loomis to guarantee that the right amount of cash is at employer, zero tolerance for unethical behavior and circulates quickly, cost-effectively and securely – the right place at the right time. Loomis's sustainability Loomis’s role as a local player. › Introduction Strategy Operations Corporate Governance Report Sustainability Report Financial statements Contents About Loomis President’s statement Specialist in cash handling Cash in Transit Cash Management Services SafePoint International Valuables Logistics (CIT) (CMS) SafePoint is a comprehensive solution (Valuables in Transit, VIT, Valuables Every day Loomis collects daily Daily receipts and cash from retailers, developed by Loomis for retailers. The in Storage, VIS) receipts, provides retailers and banks bank branches and ATMs are normally customer deposits receipts on an on- Loomis International transports, with change orders and foreign curren- transported to one of Loomis’s cash going basis in the secure unit where the processes and stores cash, precious cy, and replenishes and services ATMs. centers. There, Loomis's employees funds are registered and safely stored metals and other valuables such as By carefully planning routes and the using state-of-the-art equipment, at the store until they are collected by watches, jewelry and credit cards number of stops on a route, it is possi- process, quality assure, package and Loomis’s cash in transit team. The cus- across borders. Loomis International ble to maintain a high level of opera- store bank notes and coins. Loomis tomer’s bank account is credited no later organizes the entire chain, offering tional efficiency. Loomis’s cash in also provides services for analysis, than the day after the deposit is made. In a one-stop shop solution by collecting transit teams work according to strict forecasting and reporting of customer addition to faster access to liquid funds, the valuables, providing cross-border routines to minimize the risks associat- cash flows, as well as customized the SafePoint concept provides signi- transportation, customs clearance ed with transporting cash, and have solutions for retailers (see SafePoint). ficant cost savings and efficiency im- assistance and temporary or long-term vehicles and equipment that provide provement for users, while also improv- storage, before finally delivering the maximum safety and security. ing employee safety. The SafePoint of- valuables to an end- recipient. In addi- fering is constantly being developed and tion to the countries where Loomis has includes a comprehensive solution for a local presence, Loomis International depositing and withdrawing cash, which also uses a global network of agents is also called a cash recycler. and partners. Loomis Annual and Sustainability Report 2019 5 › Introduction Strategy Operations Corporate Governance Report Sustainability Report Financial statements Contents About Loomis President’s statement Loomis’s priorities Deliver on financial and sustainability targets Outsourcing trend creates business opportunities New services and payment solutions • Since the stock market listing in 2008, Loomis has • Loomis’s stable growth and increased profitability has • New payment platforms and payment solutions are established strategy periods and targets to monitor the been supported by a strong outsourcing trend among quickly being developed in the system of transactions Group’s financial and sustainable development. So far banks and retailers for both cash in transit and cash that links banks and retailers. Loomis has strong all targets for each strategy period have been reached. management services. relationships with all parties involved and has a well- established position in the market. • The current strategy period is 2018–2021. The 2019 • A new wave of outsourcing is now emerging, involving • Loomis’s strategy prioritizes in-house and acquired results show that the financial targets are well within more and more advanced services, including manage- innovation and product development, within payment reach. Progress has also been made toward the ment of physical foreign exchange (FX) and compre- and transactions, to advance Loomis further up the sustainability targets. hensive ATM services. This creates new business op- value chain and thereby achieve higher profitability portunities for Loomis. and continued growth. EBITA +192% Increased revenue 3,000 200 and margin New Payment Systems 2,250 150 Digital Retail Platforms Retail/Bank Back Office Solutions 1,500 100 FX solutions Retail/Bank Managed Front Office Solutions Market maturity Services % improvement SafePoint 750 50 Valuables CMS Platform EBITA FX adjusted, SEK m EBITA ATM CIT Advanced Retail Solutions 0 0 VIT, VIS -08 -09 -10 -11 -12 -13 -14 -15 -16 -17 -18 2019 EBITA margin Consumer Bank Real EBITA growth, 2008–2019. Move up the customers' value chain. New payment solutions strengthen Loomis's retail business. Loomis Annual and Sustainability Report 2019 6 › Introduction Strategy Operations Corporate Governance Report Sustainability Report Financial statements Contents About Loomis President’s statement Well on the way to reaching our targets Based on increased customer trust and intensive efforts to develop and expand our core business, we can summarize 2019 as a new record year for Loomis. Halfway through the strategy period we can deliver both good growth and increased profitability, and we are holding a clear course toward our long-term targets. On a stable course toward our financial targets taking place in recent years has shown us that there are 2019 was yet another successful year for Loomis. We more good business
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