Strong earnings for Coor Service Management
Coor reports high growth and strong earnings improvement in 2012.
- Sales for the full year to 31 December 2012 increased by 6.7% to SEK 7,045 (2011: SEK 6,604) m. Excluding currency effects, the increase was 7.1%. Primarily, the sales increase is due to the full-year effects of new business and acquisitions completed.
- A number of collaborations with new customers started during 2012, including the Danish Police Service, Unibail-Rodamco (Sweden and Denmark), GE Oil & Gas (Norway) and Ruukki (Finland).
- Service provider Addici, whose operations are mainly in Sweden, but also in Norway, Denmark and Finland, was acquired in December 2012. This acquisition resulted in Coor growing by another 1,300 employees and some SEK 1,000 m in sales and is expected to be earnings enhancing in 2013.
- EBITA excluding other items increased by 18% to SEK 398 (2011: SEK 338) m. Several earnings-improving measures were taken in the year, resulting in significant margin improvement of 5.7 (5.1)%.
- Appointment of Mikael Stöhr to become the new President and CEO of Coor by March, 4, 2013 when Mats Jönsson will step down but remain a Board member.
- The employee headcount increased by 31% in the year to 7,101 (5,399). The change is the result of the new businesses included in Coor 2012
"2012 was a strong year with high growth and improving profitability. There's a lot to be pleased about; our new customers and our most recent acquisitions reinforceour status as the leading service provider in the Nordics. I´m so proud of the company Coor is today, and warmly hand over the position of CEO to my successor. With our strong offering, great customer portfolio and competent, committed managers and employees, there´s every prospect of continued success," commented Mats Jönsson, President and CEO of Coor.