July–September 2014

n Revenue SEK 3,600 million (2,897). Real growth 18 percent (4) and organic growth 3 percent (4).
n Operating income (EBITA)1) SEK 406 million (311) and operating margin 11.3 percent (10.7).
n Income before taxes SEK 366 million (294) and income after taxes SEK 278 million (207).
n Earnings per share before dilution SEK 3.70 (2.76) and SEK 3.70 (2.76) after dilution.
n Cash flow from operating activities SEK 384 million (368), equivalent to 95 percent (119) of operating income (EBITA).

January–September 2014

n Revenue SEK 9,796 SEK million (8,436). Real growth 12 percent (2) and organic growth 4 percent (1).
n Operating income (EBITA)1) SEK 981 million (805) and operating margin 10.0 percent (9.5).
n Income before taxes SEK 878 million (764) and income after taxes SEK 651 million (539).
n Earnings per share SEK 8.65 (7.21) before dilution and SEK 8.65 (7.15) after dilution.
n Cash flow from operating activities SEK 782 million (637), equivalent to 80 percent (79) of operating income (EBITA).

1) Earnings Before Interest, Taxes, Amortization of acquisition-related intangible fixed assets, Acquisition-related costs and revenue, and Items affecting comparability.

Financial targets 2014–2017

Revenue

SEK 17 billion by 2017

Annual dividend in percent of net income

Comments by the President and CEO

We now have a strong platform and I look forward to leading Loomis into the next phase with an increased focus on growth.

Strong growth and new financial targets

Our operating margin and net income continued to grow in a positive direction in the third quarter this year. The quarter was characterized by the integration of VIA MAT and a sustained focus on continuous improvements at our branches. Since our listing on the stock exchange in 2008, we have emphasized raising the quality of our customer offering. The quality improvement and a systematic work process which we call the "the Loomis Model" have together improved our income and operating margin. We are now ready to take the next step in our development, and on September 25 we held a Capital Markets Day at which we presented our new financial targets. In summary, our new targets will require a greater focus on growth, but also involves a strong ambition to continue to improve our operating margin.

More specifically, we are aiming to achieve revenue of SEK 17 billion by 2017, an operating margin of 10 – 12 percent during the next three-year period, and a gearing (net debt/ EBITDA) of max 3.0 while also maintaining a dividend policy of a yearly dividend of 40 – 60 percent of net income.

We expect to grow organically, but we are also expecting additional acquisitions. We expect our organic growth to be highest in the USA and to be driven by a continued increase in the degree of outsourcing of Cash Management Services (CMS). We are also optimistic that our Loomis SafePoint® concept will continue to develop well. In addition to growth in the USA, our organic growth is expected to come primarily from an increased demand for International Services, where we are now able to offer integrated services in all of our markets, as well as from other add-on services. While we expect to make acquisitions in both existing and new markets, the emphasis will be on existing markets. We have a strong balance sheet and stable cash flows, and by increasing our gearing to 3.0 (2.5), we will be in a good position to take advantage of potential value-generating acquisition opportunities. Even with an increased focus on growth, we still see the potential for an improved operating margin. Depending on the growth rate, we expect the margin to vary between 10 and 12 percent.

Growth and operating income during the quarter

Real growth for the third quarter 2014 amounted to 18 percent (4) and organic growth to 3 percent (4). The Group's operating income (EBITA) amounted to SEK 406 million (311) and the operating margin was 11.3 percent (10.7).

In Europe real growth in the quarter amounted to 7 percent (4) and organic growth to 2 percent (4). The real growth is largely attributable to the integration of VIA MAT's Swiss cash handling operation, but also to the implementation of new contracts. In this context we would like to mention the DNB contract in Norway in particular which had not yet gone into full effect in the corresponding quarter in 2013. The operating income (EBITA) in Europe amounted to SEK 294 million (246) and the operating margin was 14.5 percent (13.7). It is particularly gratifying that the UK operation continues to develop well.

In the USA real growth amounted to 7 percent (4) and organic growth to 7 percent (4). The main explanation for the organic growth is continued improvement in the number of signed CMS contracts and a good development for Loomis SafePoint®. The operating income (EBITA) amounted to SEK 123 million (87) and the operating margin was 9.7 percent (7.9). During the quarter we successfully started the integration of the contract with Bank of America, which was announced in the second quarter 2014. This assignment is expected to be fully integrated in the first quarter of 2016.

Revenue in the third quarter in our new segment, International Services, reached SEK 330 million, with an operating margin of 5.8 percent. The integration process is progressing according to plan and we are now starting to realize the commercial synergies we have identified with other units within Loomis. In time we expect these synergies to help further increase organic growth and improve our margins.

Contract with Tesco

After the end of the quarter, on October 1, a new contract with the British company Tesco was announced. Once fully integrated, the annual revenue is expected to exceed SEK 230 million. This is the single largest contract since Loomis was listed on the stock exchange in 2008 and it puts us in a better position to achieve good development in the British market. We expect the contract to be fully integrated in the second quarter of 2015, but it will start to have an effect on revenue as soon as the fourth quarter this year.

Our operating margin continues to strengthen due to a clear focus on continuous improvements. We now have a strong platform and I look forward to leading Loomis into the next phase with an increased focus on growth.

Jarl Dahlfors

President and CEO

The Group and the segments in brief

	2014	2013	2014	2013	2013	R12
SEK m	Jul – Sep	Jul – Sep	Jan – Sep	Jan – Sep	Full year
Group total
Revenue	3,600	2,897	9,796	8,436	11,364	12,724
Real growth, %	18	4	12	2	2	10
Organic growth, %	3	4	4	1	2	4
Operating income (EBITA)1)	406	311	981	805	1,099	1,276
Operating margin, %	11.3	10.7	10.0	9.5	9.7	10.0
Earnings per share before dilution, SEK	3.702)	2.763)	8.652)	7.213)	9.834)	11.275)
Earnings per share after dilution, SEK	3.70	2.766)	8.65	7.156)	9.78	11.27
Cash flow from operating activities as a % of operating income (EBITA)	95	119	80	79	87	86
Segment
Europe
Revenue	2,022	1,800	5,688	5,174	7,005	7,519
Real growth, %	7	4	6	2	2	5
Organic growth, %	2	4	2	1	2	2
Operating income (EBITA)1)	294	246	680	575	794	899
Operating margin, %	14.5	13.7	11.9	11.1	11.3	12.0
USA
Revenue	1,267	1,098	3,585	3,262	4,359	4,682
Real growth, %	7	4	7	2	2	6
Organic growth, %	7	4	7	2	2	6
Operating income (EBITA)1)	123	87	355	307	414	463
Operating margin, %	9.7	7.9	9.9	9.4	9.5	9.9
International Services7)
Revenue	330	–	553	–	–	553
Operating income (EBITA)1)	19	–	33	–	–	33
Operating margin, %	5.8	–	5.9	–	–	5.9

1) Earnings Before Interest, Taxes, Amortization of acquisition-related intangible fixed assets, Acquisition-related costs and revenue, and Items affecting comparability.

2) The number of outstanding shares, which constitutes the basis for calculation of earnings per share before dilution, is 75,226,032 for the period July–September 2014. The average number of outstanding shares, which constitutes the basis for calculation of earnings per share before dilution, is 75,241,855 for the period January–September 2014. The number of treasury shares as of September 30, 2014 was 53,797.

3) The average number of outstanding shares, which constitutes the basis for calculation of earnings per share before dilution, is 75,278,357 for the period July–September 2013 and 74,692,924 for the period January–September 2013. The average number includes 121,863 shares being held as treasury shares as of September 30, 2013. The treasury shares related to Loomis' Incentive Scheme 2012 and have been allotted to employees in accordance with agreements.

4) The average number of outstanding shares, which constitutes the basis for calculation of earnings per share before dilution, is 74,838,476, which includes 121,863 shares that were held as treasury shares as of December 31, 2013. The treasury shares were for Loomis' Incentive Scheme 2012 and have been allotted to employees in accordance with agreements. 5) The average number of outstanding shares, which constitutes the basis for calculation of earnings per share before dilution, is 75,251,310.

6) Calculated based on the maximum number of warrants being used to subscribe for shares under Loomis' subscription warrant program 2009/2013.

7) International Services is a new segment which was launched in connection with Loomis' acquisition of VIA MAT Holding AG. The acquisition was consolidated as of May 5, 2014. Loomis has previously only had very limited operations in this area which were included in the European segment, but as of May 5, 2014 these operations are included in segment International Services. Comparatives have not been restated for the segments due to the limited extent of international services provided prior to the VIA MAT acquisition.

Operating margin (EBITA)

Operating margin (EBITA) per quarter

Operating margin (EBITA)

Operating margin (EBITA) rolling 12 months

Revenue and income

	2014	2013	2014	2013	2013	R12
SEK m	Jul–Sep	Jul–Sep	Jan–Sep	Jan–Sep	Full year
Revenue	3,600	2,897	9,796	8,436	11,364	12,724
Operating income (EBITA)1)	406	311	981	805	1,099	1,276
Operating income (EBIT)	384	303	926	799	1,085	1,212
Income before taxes	366	294	878	764	1,038	1,153
Net income for the period2)	278	207	651	539	736	848
KEY RATIOS
Real growth, %	18	4	12	2	2	10
Organic growth, %	3	4	4	1	2	4
Operating margin, %	11.3	10.7	10.0	9.5	9.7	10.0
Tax rate, %	24	29	26	29	29	26
Earnings per share after dilution, SEK	3.70	2.76	8.65	7.15	9.78	11.27

1) Earnings Before Interest, Taxes, Amortization of acquisition-related intangible fixed assets, Acquisition-related costs and revenue, and Items affecting comparability.

2) Of the result for the period July–September 2014, SEK 0 million is attributable to holdings with a non-controlling interest and for the period January–September 2014, SEK 1 million is attributable to holdings with a non-controlling interest. For other periods the net income for the period is entirely attributable to the owners of the Parent Company.

July–September 2014

Revenue for the quarter amounted to SEK 3,600 million compared to SEK 2,897 million for the corresponding period the previous year. The organic growth of 3 percent (4) is mainly explained by the contracts that went into effect in Europe and the USA in the latter part of 2013 and increased revenue from Loomis SafePoint®. The real growth of 18 percent (4) includes revenue attributable to the 2014 acquisition of VIA MAT and to some extent the acquisition that took place in Slovakia in December 2013.

The operating income (EBITA) amounted to SEK 406 million (311) and the operating margin was 11.3 percent (10.7). At comparable exchange rates the income improvement was SEK 79 million. The improved profitability in 2014 is mainly explained by strong organic growth within Cash Management Services (CMS) and in Loomis SafePoint® as well as the continuous efforts to improve efficiency which continue to yield results.

The operating income (EBIT) for the quarter amounted to SEK 384 million (303), which includes amortization of acquisitionrelated intangible assets of SEK –13 million (–7) and acquisition-related costs of SEK –9 million (–0). The increased amortization of acquisition-related intangible assets and the acquisition-related costs for the period are mainly due to the acquisition of VIA MAT.

Income before taxes of SEK 366 million (294) includes a net financial expense of SEK –18 million (–9).

The tax expense for the quarter amounted to SEK 88 million (87), which represents a tax rate of 24 percent (29). The tax rate for the quarter was affected by recognition of previously unvalued tax losses.

Earnings per share after dilution amounted to SEK 3.70 (2.76).

January–September 2014

Revenue for the first nine months amounted to SEK 9,796 million (8,436). The organic growth which was 4 percent (1) is mainly attributable to the contracts that went into effect in Europe and the USA in the latter part of 2013. The real growth of 12 percent (2) includes revenue attributable to the acquisition of VIA MAT and the acquisition in Slovakia in 2013.

The operating income (EBITA) amounted to SEK 981 million (805). The operating income for the corresponding period in 2013 included a positive non-recurring item of around SEK 25 million relating to revaluation of the US subsidiary's medical and casualty provisions. At comparable exchange rates the income improvement was SEK 146 million. An increased proportion of revenue from CMS, organic growth and the fact that the continuous group-wide efforts to cut costs and improve efficiency are continuing to yield results, are the main explanations for the improvement in the operating margin to 10.0 percent (9.5).

The operating income (EBIT) amounted to SEK 926 million (799) and includes amortization of acquisition-related intangible assets of SEK –32 million (–21) and acquisition-related costs of SEK –23 million (–29). The increased amortization of acquisition-related intangible assets is, like the acquisitionrelated costs, mainly attributable to the acquisition of VIA MAT. The acquisition-related net revenue reported in the corresponding period the previous year included a repayment installment of SEK 41 million of the purchase consideration for Pendum's cash handling operations which were acquired in 2011.

Income before taxes of SEK 878 million (764) includes a net financial expense of SEK –48 million (–35).

The tax expense for the period amounted to SEK 228 million (225), which represents a tax rate of 26 percent (29).

Earnings per share after dilution amounted to SEK 8.65 (7.15).

The segments

LOOMIS EUROPE1)

	2014	2013	2014	2013	2013	R12
SEK m	Jul–Sep	Jul–Sep	Jan–Sep	Jan–Sep	Full year
Revenue	2,022	1,800	5,688	5,174	7,005	7,519
Real growth, %	7	4	6	2	2	5
Organic growth, %	2	4	2	1	2	2
Operating income (EBITA)2)	294	246	680	575	794	899
Operating margin, %	14.5	13.7	11.9	11.1	11.3	12.0

1) International Services is a new segment which was launched in connection with Loomis' acquisition of VIA MAT Holding AG. The acquisition was consolidated as of May 5, 2014. Loomis has previously only had very limited operations in this area, which were included in the European segment, but as of May 5, 2014 these operations are included in segment International Services. Comparatives have not been restated for the segments due to the limited extent of international services provided prior to the acquisition of VIA MAT. 2) Earnings Before Interest, Taxes, Amortization of acquisition-related intangible fixed assets, Acquisition-related costs and revenue, and Items affecting comparability.

Revenue and operating income – Segment Europe July–September 2014

Revenue for the European segment for the third quarter amounted to SEK 2,022 million (1,800). The organic growth of 2 percent (4) is primarily explained by increased revenue from the contract with DNB in Norway which went into effect in the third quarter of 2013, but also by positive growth, e.g. in Turkey and Switzerland. The cash handling operations acquired in May 2014 from VIA MAT and the acquisition in Slovakia carried out in December 2013 contributed to the real growth which amounted to 7 percent (4).

The operating income (EBITA) amounted to SEK 294 million (246) and the operating margin was 14.5 percent (13.7). The positive income growth is mainly explained by efficiency improvements in the UK and parts of southern Europe. Furthermore, profitability in the Norwegian operation has been improved by economies of scale arising as a result of the increased volumes from the DNB contract.

Revenue and operating income – Segment Europe January–September 2014

Revenue amounted to SEK 5,688 million compared to SEK 5,174 million for the corresponding period the previous year. Increased revenue due to the contract with DNB in Norway is the main explanation for the organic growth of 2 percent (1). The real growth which amounted to 6 percent (2) includes revenue from the acquisition in Slovakia in December 2013 and revenue from the Swiss cash handling operations within VIA MAT.

The operating income (EBITA) amounted to SEK 680 million (575) and the operating margin was 11.9 percent (11.1). The improvement is explained by positive earnings growth for several of the European operations, including the UK, due to the continuous group-wide effort to improve efficiency which continues to yield results. Furthermore, the improvement is also attributable to economies of scales in the Norwegian operations as a result of the DNB contract.

LOOMIS USA

	2014	2013	2014	2013	2013	R12
SEK m	Jul–Sep	Jul–Sep	Jan–Sep	Jan–Sep	Full year
Revenue	1,267	1,098	3,585	3,262	4,359	4,682
Real growth, %	7	4	7	2	2	6
Organic growth, %	7	4	7	2	2	6
Operating income (EBITA)1)	123	87	355	307	414	463
Operating margin, %	9.7	7.9	9.9	9.4	9.5	9.9

1) Earnings Before Interest, Taxes, Amortization of acquisition-related intangible fixed assets, Acquisition-related costs and revenue, and Items affecting comparability.

Revenue and operating income – Segment USA July–September 2014

Revenue in the USA amounted to SEK 1,267 million (1,098) and both real growth and organic growth amounted to 7 percent (4 and 4 respectively). The growth is primarily explained by revenue relating to CMS contracts signed in 2013 and 2014, and increased revenue from Loomis SafePoint®.

The operating income (EBITA) for the quarter was SEK 123 million (87) and the operating margin amounted to 9.7 percent (7.9). The positive development is mainly explained by a continuing increase in the proportion of revenue from CMS, increased revenue from Loomis SafePoint® as well as continuous efforts to improve efficiency, which continue to yield results. Start-up costs relating to new contracts and nonrecurring costs aimed at achieving further efficiency improvements negatively affected operating income for the corresponding period the previous year. The proportion of revenue from CMS for the quarter amounted to 29 percent (28) of the segment's total revenue.

Revenue and operating income – Segment USA January–September 2014

Revenue for the period amounted to SEK 3,585 million (3,262). Both real growth and organic growth amounted to 7 percent (2). The growth is mainly explained by a combination of revenue from the CMS contracts that went into effect in the third quarter of 2013 and in 2014, and increased revenue from Loomis SafePoint®.

Operating income (EBITA) amounted to SEK 355 million compared to SEK 307 million for the corresponding period the previous year. The previous year's operating income includes a positive non-recurring item of SEK 25 million. The operating margin was 9.9 percent (9.4). The operating margin for the period was positively affected by a continuing increase in the proportion of revenue from CMS, increased revenue from Loomis SafePoint® and the constant focus on cutting costs and improving efficiency, which continues to yield results. CMS revenue accounted for 28 percent (27) of the segment's total revenue.

INTERNATIONAL SERVICES1)

	2014	2014
SEK m	Jul–Sep	May–Sep
Revenue	330	553
Operating income (EBITA)2)	19	33
Operating margin, %	5.8	5.9

Revenue and operating income – Segment International Services July–September 2014

Revenue from International Services for the quarter amounted to SEK 330 million. The operating income (EBITA) for the period was SEK 19 million and the operating margin amounted to 5.8 percent.

International Services consists of three different business areas: cross-border transportation of cash and precious metals, storage of valuables and general logistics solutions.

Revenue and operating income – Segment International Services May–September 2014

Revenue from International Services for the period amounted to SEK 553 million. The operating income (EBITA) amounted to SEK 33 million and the operating margin was 5.9 percent.

Cash flow

STATEMENT OF CASH FLOWS

	2014	2013	2014	2013	2013	R12
SEK m	Jul–Sep	Jul–Sep	Jan–Sep	Jan–Sep	Full year
Operating income (EBITA)1)	406	311	981	805	1,099	1,276
Depreciation	227	190	645	563	758	839
Change in accounts receivable	–30	32	–101	–36	6	–59
Change in other working capital and other items	27	17	–140	–236	–186	–89
Cash flow from operating activities before investments	630	549	1,385	1,095	1,677	1,967
Investments in fixed assets, net	–245	–181	–603	–458	–720	–864
Cash flow from operating activities	384	368	782	637	957	1,103
Financial items paid and received	–20	–11	–46	–36	–49	–58
Income tax paid	–104	–131	–204	–250	–319	–273
Free cash flow	261	227	533	350	590	772
Cash flow effect of items affecting comparability	–2	–1	–6	–3	–7	–10
Acquisition of operations2)	–1	–3	–1,533	–10	–29	–1,553
Acquisition-related costs and revenue, paid and received3)	–1	–0	–5	40	40	–5
Dividend paid	–	–	–376	–338	–338	–376
Repayment of leasing liabilities	–8	–6	–30	–24	–40	–45
Change in interest-bearing net debt excl. liquid funds	–140	–12	1,393	–500	–512	1,381
Change in issued commercial papers	–99	–51	199	496	248	–49
Cash flow for the period	9	154	175	11	–48	115
Liquid funds at the beginning of period	507	243	333	380	380	388
Exchange rate differences on liquid funds	12	–9	21	–4	1	25
Liquid funds at the end of period	529	388	529	388	333	529
KEY RATIOS
Cash flow from operations as a % of operating income (EBITA)	95	119	80	79	87	86
Investments in relation to depreciation	1.1	1.0	0.9	0.8	1.0	1.0
Investments as a % of total revenue	6.8	6.2	6.2	5.4	6.3	6.8

1) Earnings Before Interest, Taxes, Amortization of acquisition-related intangible fixed assets, Acquisition-related costs and revenue, and Items affecting comparability.

2) Acquisition of operations includes the cash flow effect of acquisition-related costs.

3) Refers to acquisition-related restructuring and integration costs. During the first quarter of 2013 a repayment installment of the purchase price for Pendum's cash handling operations was received in the amount of SEK 41 million.

Cash flow

July – September 2014

Cash flow from operating activities was SEK 384 million (368), equivalent to 95 percent (119) of operating income (EBITA).

Net investments in fixed assets during the period amounted to SEK 245 million (181), which can be compared to depreciation of fixed assets of SEK 227 million (190). During the period, SEK 147 million (128) was invested in vehicles and security equipment and in Loomis SafePoint®, which are the three main categories of recurring investments.

January – September 2014

Cash flow from operating activities was SEK 782 million (637), equivalent to 80 percent (79) of operating income (EBITA).

Like the corresponding period the previous year, the effect on cash flow of the change in other working capital and other items was negative. This item is subject to seasonal variations and, over the past few years, the effects on cash flow of the changes in working capital during the latter part of the year have been positive.

Net investments in fixed assets during the period amounted to SEK 603 million (458), which can be compared to depreciation of fixed assets of SEK 645 million (563). During the period, SEK 351 million (284) was invested in vehicles and security equipment and in Loomis SafePoint®, which are the three main categories of recurring investments.

During the period SEK 376 million (338) in dividends was paid out to shareholders.

Capital employed and financing

CAPITAL EMPLOYED AND FINANCING

	2014	2013	2013	2012
SEK m	Sep 30	Sep 30	Dec 31	Dec 31
Operating capital employed	3,606	2,743	2,834	2,631
Goodwill	4,679	3,296	3,346	3,317
Acquisition-related intangible assets	363	131	126	153
Other capital employed	21	–14	–16	–31
Capital employed	8,669	6,156	6,290	6,070
Net debt	4,011	2,241	2,125	2,475
Shareholders' equity1)	4,658	3,914	4,165	3,595
Key ratios
Return on capital employed, %	15	18	17	17
Return on equity, %	18	19	18	18
Equity ratio, %	38	43	45	40
Net debt/EBITDA	1.90	1.21	1.14	1.43

1) Of the shareholders' equity as of September 30, 2014, SEK 3 million is attributable to holdings with a non-controlling interest. For other periods the shareholders' equity is entirely attributable to the owners of the Parent Company.

Capital employed

Capital employed amounted to SEK 8,669 million (6,290 as of December 31, 2013). Return on capital employed amounted to 15 percent (17 as of December 31, 2013). The change in capital employed is mainly related to the acquisition of VIA MAT.

In the third quarter Loomis long-term business plans were prepared and in connection with this process, impairment testing was undertaken on all of the Group's cash-generating units. None of the cash generating units had a book value exceeding its recoverable amount and therefore no goodwill impairment has been recorded in 2014.

Shareholders' equity and financing

Shareholders' equity amounted to SEK 4,658 million (4,165 as of December 31, 2013). The return on shareholders' equity was 18 percent (18 as of December 31, 2013) and the equity ratio was 38 percent (45 as of December 31, 2013).

Net debt amounted to SEK 4,011 million (2,125 as of December 31, 2013). The net debt was affected during the year by, among other things, a dividend to shareholders of SEK 376 million (338) and by the acquisition of VIA MAT. The acquisition of VIA MAT in May 2014 was primarily financed by bridge loan of CHF 210 million which has a maximum maturity of 18 months. The net debt/EBITDA ratio amounted to 1.90 (1.14 as of December 31, 2013).

Acquisitions

	Date of con solidation	Acquired share (%)1)	Annual revenue, CHF m	Number of employees	Purchase price3) SEK m	Goodwill SEK m	Acquisition related intangible assets SEK m	Other acquired net assets SEK m
Opening balance, January 1, 2014						3,346	126
VIA MAT Holding AG5)	May 5	100	2402)	978	1,641	1,0284)	261	352
Total acquisitions January – September 2014						1,028	261	352
Amortization of acquisition-related intangible assets							–32
Translation differences						305	8
Closing balance September 30, 2014						4,679	363

1) Refers to share of votes.

2) Estimated annual revenue translated to SEK million at the acquisition date amounted to approximately SEK 1,790 million. The revenue differs from the amount stated in the press release issued on April 4, 2014 because pass-through transactions are now excluded in accordance with IFRS. Pass-through transactions are not reported as revenue as these transactions do not provide the VIA MAT with any economic benefit.

3) The purchase price translated into SEK million at the acquisition date. The purchase price adjusted for acquired liquid funds amounted to approximately SEK 1,521 million.

4) Goodwill arising in connection with the acquisition is primarily attributable to synergy effects and geographic expansion. Any impairment is not tax deductible.

5) The acquisition analysis is subject to final adjustment no later than one year from the acquisition date.

Acquisitions January–September 2014

Significant events and number of full-time employees

Significant events during the period

In May 2014 Loomis AB signed a five-year loan agreement, a Multi-Currency Revolving Credit Facility, of USD 100 million. The loan has been used to refinance an existing loan facility.

On May 5, 2014 Loomis acquired all of the shares in the Swiss group VIA MAT Holding AG ("VIA MAT"). The acquisition enables Loomis to expand its service offering beyond the existing service lines, Cash In Transit and Cash Management Services, to include International Services. The acquisition also makes Loomis the market leader in cash handling in the Swiss market. The VIA MAT group has approximately 1,000 employees and operations in Asia, Europe, the Middle East, South America and the USA. The acquisition allows Loomis to expand its operations to include a number of new geographies and provides the company's existing operations with new growth opportunities. The acquisition, which is expected to have a marginally positive impact on Loomis' earnings per share for 2014, was primarily financed by bridge loan with a maximum maturity of 18 months. In connection with the acquisition, Urs Röösli was appointed head of International Services. Urs Röösli became a member of the Loomis' Group management team on August 1, 2014.

At the Annual General Meeting on May 6, 2014 Jarl Dahlfors was elected as a new board member. The 2014 Annual General Meeting also voted in favor of the Board's proposal to introduce an incentive scheme (Incentive Scheme 2014). Similar to previous incentive schemes, Incentive Scheme 2014 will involve two thirds of the participants' variable remuneration being paid out in cash in the year after it is earned. The remaining one third will be in the form of Class B shares in Loomis AB which will be allotted at the beginning of 2016. The allotment of shares is contingent upon the employee still being employed by the Loomis Group on the last day of February 2016, other than in cases where the employee has left his/her position due to retirement, death or a long-term illness, in which case the employee will retain the right to receive bonus shares. The principles for performance measuring and other general principles that already apply to existing incentive schemes will continue to apply. Loomis AB will not issue any new shares or similar instruments in connection with this incentive scheme. To enable Loomis to allot the shares, the Annual General Meeting resolved that Loomis AB will enter into a share swap agreement with a third party under which the third party will acquire the Loomis shares in its own name and transfer them to the incentive scheme participants. The Incentive Scheme will enable around 300

key individuals within the Group to be shareholders in Loomis AB over time, which will increase employee commitment to Loomis' development for the benefit of all shareholders.

In June 2014 it was announced that Loomis' US subsidiary had entered into an agreement with Bank of America to take over the bank's cash processing services at approximately 30 locations in the USA. The assignment involves Loomis managing a portion of the bank's notes and coins at existing Loomis branches. The contract started during the third quarter of 2014 and is expected to be fully integrated in the first quarter of 2016. Once fully integrated, the new contract is expected to generate annual revenue of approximately USD 20 million and revenue from CMS will then account for around one third of Loomis total revenue in the USA. The contract is the single largest CMS contract that Loomis has signed in the USA.

In September 2014 Loomis published its new financial targets. The new targets for 2014–2017 are:

Revenue of SEK 17 billion by 2017
Operating margin of 10–12 percent
Net debt/EBITDA max 3.0
Dividend of 40–60 percent of net income.

Significant events after the end of the reporting period

In October it was announced that Loomis' subsidiary in the UK had signed a contract with Tesco. Under the contract Loomis will provide replenishment and maintenance services for all of Tesco's 3,700 ATMs throughout the UK. The assignment, which began immediately, is expected to be fully rolled out by the second quarter of 2015. Once fully rolled out the annual revenue is expected to exceed GBP 20 million, corresponding to approximately SEK 230 million. The maintenance services will be performed by a technical service partner. The contract is the single largest new contract that Loomis has signed since the company was listed on the stock exchange in 2008.

Number of full-time employees

The average number of full-time employees for the rolling twelve-month period was 20,201 (19,442 for the full year 2013). The acquisitions which took place in 2013 and 2014 as well as employment of individuals due to the contracts secured have increased the number of employees. The costsaving programs have mainly reduced the number of overtime hours and temporary employees, but have also reduced the number of regular employees.

Risks and uncertainties

Operational risks

Operational risks are risks associated with the day-to-day operations and the services offered by the Company to its customers. These risks may result in negative consequences when the services performed do not meet the established requirements and result in loss of or damage to property or personal injury.

Loomis' strategy for operational risk management is based on two fundamental principles:

No loss of life
Balance between profitability and risk of theft and robbery.

Although the risk of robbery is unavoidable in cash handling, Loomis continually strives to minimize this risk. The most vulnerable situations are at the roadside, in the vehicles and during cash processing.

Loomis' operations are insured, meaning that the maximum cost of each theft or robbery incident is limited to the deductible amount.

The Parent Company, Loomis AB, is deemed not to have any significant operational risks as it does not engage in operations other than the conventional control of subsidiaries and the management of certain Group matters.

The major risks deemed to apply to the Parent Company relate to fluctuations in exchange rates, particularly as regards USD and EUR, increased interest rates and the risk of possible impairment of assets.

Financial risk

In its operations, Loomis is exposed to risks associated with financial instruments, such as liquid funds, accounts receivable, accounts payable and loans. The risks related to these instruments are primarily:

Interest rate risks associated with liquid funds and loans
Exchange rate risks associated with transactions and translation of shareholder's equity
Financing risks relating to the Company's capital requirements
Liquidity risks associated with short-term solvency
Credit risks attributable to financial and commercial activities
Capital risks attributable to the capital structure
Price risks associated with changes in raw material prices (primarily fuel).

Factors of uncertainty

The economic trend in the first nine months of 2014 impacted certain geographic areas negatively, and it cannot be ruled out that revenue and income may be impacted during the remainder of 2014. Changes in general economic conditions can have various effects on the market for cash handling services, such as changes in consumption levels, the ratio of cash purchases to credit card purchases, the risk of robbery and bad debt losses, as well as the staff turnover rate.

Additional factors of uncertainty for 2014 are risks associated with the acquisition and the integration of VIA MAT.

Seasonal variations

The Company's earnings fluctuate across the seasons and this should be taken into consideration when making assessments on the basis of interim financial information. The main reason for the seasonal variations is that the need for cash handling services increases during the summer vacation period, July – August, and during the holiday season at the end of the year, i.e. in November and December.

Parent Company

SUMMARY STATEMENT OF INCOME

	2014	2013	2013
SEK m	Jan–Sep	Jan–Sep	Full year
Gross profit	232	201	292
Operating income (EBIT)	126	123	154
Income after financial items	336	315	609
Net income for the period	309	295	494

SUMMARY BALANCE SHEET

	2014	2013	2013
SEK m	Sep 30	Sep 30	Dec 31
Fixed assets	9,174	7,373	7,426
Current assets	477	742	541
Total assets	9,651	8,115	7,967
Shareholders' equity	4,5631)	4,6472)	4,8323)
Liabilities	5,088	3,468	3,134
Total shareholders' equity and liabilities	9,651	8,115	7,967

1) As of September 30, 2014 there were 53,797 Class B treasury shares.

2) As of September 30, 2013 there were 121,863 Class B treasury shares held for subsequent allotment to employees in accordance with Incentive Scheme 2012. 3) As of December 31, 2013 there were 121,863 Class B treasury shares held for subsequent allotment to employees in accordance with Incentive Scheme 2012.

The Parent Company does not engage in any operating activities. It is only involved in Group management and support functions. The average number of full-time employees at the head office during the first nine months was 22 (18).

The Parent Company's fixed assets consist mainly of shares in subsidiaries and loan receivables from subsidiaries. The liabilities are mainly external liabilities and liabilities to subsidiaries. The change in the balance sheet total is mainly attributable to the acquisition of VIA MAT.

The Parent Company's revenue mainly comes from franchise fees and other revenue from subsidiaries.

Other significant events

For critical estimates and assessments as well as contingent liabilities, please refer to pages 54 and 85 of the 2013 Annual Report. As there have been no other significant changes to the events described in the Annual Report, no further comments have been made on these matters in this interim report.

Accounting principles

The Group's financial reports are prepared in accordance with the International Financial Reporting Standards (IAS/ IFRS, as adopted by the European Union) issued by the International Accounting Standards Board and statements issued by the International Financial Reporting Interpretations Committee (IFRIC).

This interim report has been prepared according to IAS 34 Interim Financial Reporting. The most important accounting principles according to IFRS, which are the accounting standards used in the preparation of this interim report, are described in Note 2 on pages 47–53 of the 2013 Annual Report. As a consequence of the acquisition of VIA MAT, the following also applies.

Operating segments are reported in accordance with internal Loomis reporting, where reports are submitted to the President and CEO, who has been identified as the most senior executive decision-maker within Loomis. Due to the acquisition of VIA MAT, Loomis has the following segments as of Q2 2014: Europe*, USA, International Services and Other. The regional presidents of Europe, USA and International Services are responsible for following up the segments' operating income before amortization of acquisition-related intangible assets, acquisition-related costs and items affecting comparability (EBITA), according to the manner in which Loomis reports its consolidated statement of income. This then forms the basis for how the President and CEO monitors development, allocates resources etc. Loomis has therefore chosen this structure for its segment reporting. Cash handling services (Cash in Transit and Cash Management Services) are split between the segments Europe and USA. The split is based on the similarities between European countries in important areas relating to, for example, market conditions, political circumstances, laws and regulations that affect Loomis. Operations in the USA are affected to a significant degree by other market conditions and political circumstances, as well as by laws and regulations impacting Loomis' operations, even if the services provided can be considered similar to those provided in segment Europe. International Services is not included in the operating segments Europe and the USA, nor is it based on that geographical split, but is instead reported as a separate segment. This

*) Argentina is reported in the European segment because the operations are reported and followed up as part of the European segment.

is because International Services operations differ from the other segments as it includes cross-border transportation of cash and precious metals, storage of valuables and general logistic solutions, as well as the fact that the President and CEO monitors the segments' financial performance and allocates resources.

Loomis has in the past had very minor operations of a similar nature to international services. These operations have historically been included in segment Europe, but from May 5, 2014 they are included in the International Services segment. Comparatives have not been restated for the segments due to the limited extent of international services provided prior to the VIA MAT acquisition.

Segment Other consists of the head office and the Parent Company, the risk management function and other functions managed at Group level and which are related to the Group as a whole.

Within the international logistics business (valuables and general cargo) several operations and revenue streams exist with which Loomis has not historically been involved. The international logistics business involves so-called passthrough transactions. A pass-through transaction is a transaction conducted on behalf of a customer or another third party. This is common practice in international logistics. The consignee has to pay import taxes (VAT and duties) for the imported goods. Orders from Loomis' foreign customers usually include obtaining customs clearance and the declaration of customs duties and other applicable taxes. Loomis executes these transactions on behalf of the customers but the transactions do not generate any economic benefits for Loomis. The payment of import taxes by Loomis on behalf of customers is therefore regarded as a pass-through transaction. Custom duties and other applicable taxes as well as charges passed on to the customers are therefore accounted for in the balance sheet only and do not affect the statement of income. If a mark-up is charged to the customer for handling customer clearance and import taxes, this fee is recognized as revenue.

The Parent Company's financial reports have been prepared in accordance with the Swedish Annual Accounts Act and recommendation RFR 2 Accounting for Legal Entities. The most important accounting principles with respect to the Parent Company can be found in Note 36 on page 91 of the 2013 Annual Report.

Outlook for 2014

The Company is not providing any forecast information for 2014.

Stockholm, November 6, 2014

Jarl Dahlfors President and CEO, Board Member

Report of Review

(Translation of Swedish Original)

Review report over Interim Financial Statements (Interim report) prepared in accordance with IAS 34 and Chapter 9 of the Swedish Annual Accounts Act.

Introduction

We have reviewed this report for the period 1 January 2014 to 30 September 2014 for Loomis AB. The board of directors and the CEO and President are responsible for the preparation and presentation of this interim report in accordance with IAS 34 and the Swedish Annual Accounts Act. Our responsibility is to express a conclusion on this interim report based on our review.

Scope of Review

We conducted our review in accordance with the International Standard on Review Engagements ISRE 2410, Review of Interim Report Performed by the Independent Auditor of

the Entity. A review consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing, ISA, and other generally accepted auditing standards in Sweden. The procedures performed in a review do not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the interim report is not prepared, in all material respects, in accordance with IAS 34 and the Swedish Annual Accounts Act, regarding the Group, and with the Swedish Annual Accounts Act, regarding the Parent Company.

Stockholm, November 6, 2014

PricewaterhouseCoopers AB

Patrik Adolfson Authorized Public Accountant

STATEMENT OF INCOME

	2014	2013	2014	2013	2013	2012	R12
SEK m	Jul–Sep	Jul–Sep	Jan–Sep	Jan–Sep	Full year	Full year
Revenue, continuing operations	3,184	2,897	9,082	8,398	11,321	10,983	12,005
Revenue, acquisitions	416	–	714	38	43	376	720
Total revenue	3,600	2,897	9,796	8,436	11,364	11,360	12,724
Production expenses	–2,708	–2,209	–7,485	–6,492	–8,730	–8,781	–9,723
Gross income	893	688	2,311	1,944	2,634	2,579	3,001
Selling and administration expenses	–487	–378	–1,330	–1,139	–1,534	–1,560	–1,725
Operating income (EBITA)1)	406	311	981	805	1,099	1,019	1,276
Amortization of acquisition-related intangible assets	–13	–7	–32	–21	–28	–28	–39
Acquisition-related costs and revenue2)	–9	–0	–232)	292)	28	–18	–25
Items affecting comparability	–	–	–	–143)	–143)	164)	–
Operating income (EBIT)	384	303	926	799	1,085	988	1,212
Net financial items	–18	–9	–48	–35	–47	–56	–59
Income before taxes	366	294	878	764	1,038	932	1,153
Income tax	–88	–87	–228	–225	–302	–282	–305
Net income for the period5)	278	207	651	539	736	650	848
KEY RATIOS
Real growth, %	18	4	12	2	2	3	10
Organic growth, %	3	4	4	1	2	0	4
Operating margin (EBITA), %	11.3	10.7	10.0	9.5	9.7	9.0	10.0
Tax rate, %	24	29	26	29	29	30	26
Earnings per share before dilution, SEK6)	3.70	2.76	8.65	7.21	9.83	8.90	11.27
Earnings per share after dilution, SEK	3.70	2.76	8.65	7.15	9.78	8.60	11.27

1) Earnings Before Interest, Taxes, Amortization of acquisition-related intangible fixed assets, Acquisition-related costs and revenue and Items affecting comparability.

2) Acquisition-related costs and revenue for the period January–September 2014, refer to transaction costs of SEK –11 million (–5), restructuring costs of SEK –9 million (–6) and integration costs of SEK –3 million (–1) as well as a repayment installment of the purchase price attributable to the cash handling operations of Pendum in the amount of SEK 0 million (41). Transaction costs for the period January–September 2014 amount to SEK –1 million for acquisitions in progress, to SEK –10 million for completed acquisitions and to SEK 0 million for discontinued acquisitions.

3) Items affecting comparability, SEK –14 million is to a large extent attributable to a write-down of book values in an operation within the European segment. 4) Items affecting comparability refers to a reversal of part of the provision of SEK 59 million which was made in 2007, attributable to overtime compensation in Spain. In total, SEK 25 million has been reversed.

5) Of the result for the period July–September 2014, SEK 0 million is attributable to holdings with a non-controlling interest and for the period January – September 2014, SEK 1 million is attributable to holdings with a non-controlling interest. For other periods the net income for the period is entirely attributable to the owners of the Parent Company.

6) For further information please refer to page 21.

STATEMENT OF COMPREHENSIVE INCOME

	2014	2013	2013	2012	R12
SEK m	Jan–Sep	Jan–Sep	Full year	Full year
Net income for the period	651	539	736	650	848
Other comprehensive income
Items that will not be reclassified to the statement of income
Actuarial gains and losses after tax	–74	–6	–9	–34	–78
Items that may be reclassified to the statement of income
Exchange rate differences	293	–36	17	–144	347
Cash flow hedges	–	–	–	3	–
Other revaluation1)	–	–	–	–	–
Other comprehensive income and expenses for the period, net after tax	219	–42	8	–175	269
Total comprehensive income for the period2)	870	497	744	474	1,117

1) Relates to revaluation of a contingent consideration for the acquisition of Pendum's cash handling operations. A repayment installment of SEK 33 million was received in Q4 2012 and has been recycled to the statement of income, and an additional repayment installment of SEK 41 million was received in Q1 2013 and has been recycled to the statement of income, which is why the impact on other comprehensive income is nil. Negotiations have been concluded and no further repayments will be received.

2) Of the total comprehensive income for the period January–September 2014, SEK 1 million is attributable to holdings with a non-controlling interest. For other periods the total comprehensive income for the period is entirely attributable to the owners of the Parent Company.

BALANCE SHEET

	2014	2013	2013	2012
SEK m	Sep 30	Sep 30	Dec 31	Dec 31
ASSETS
Fixed assets
Goodwill	4,679	3,296	3,346	3,317
Acquisition-related intangible assets	363	131	126	153
Other intangible assets	123	90	93	93
Tangible fixed assets	3,494	2,779	2,972	2,865
Non-interest-bearing financial fixed assets2)	490	399	447	414
Interest-bearing financial fixed assets1) 2)	94	71	61	66
Total fixed assets	9,244	6,766	7,045	6,907
Current assets
Non-interest-bearing current assets3)	2,568	1,846	1,879	1,689
Interest-bearing financial current assets1)	2	19	10	10
Liquid funds	529	388	333	380
Total current assets	3,099	2,253	2,222	2,079
TOTAL ASSETS	12,342	9,020	9,267	8,986
SHAREHOLDERS' EQUITY AND LIABILITIES
Shareholders' equity4)	4,658	3,914	4,165	3,595
Long-term liabilities
Interest-bearing long-term liabilities2)	4,574	2,042	1,849	2,883
Non-interest-bearing provisions2)	786	590	674	663
Total long-term liabilities	5,360	2,632	2,523	3,547
Current liabilities
Tax liabilities	100	88	80	74
Non-interest-bearing current liabilities	2,163	1,708	1,819	1,722
Interest-bearing current liabilities	61	677	680	48
Total current liabilities	2,324	2,473	2,579	1,845
TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES	12,342	9,020	9,267	8,986
KEY RATIOS
Return of shareholders' equity, %	18	19	18	18
Return of capital employed, %	15	18	17	17
Equity ratio, %	38	43	45	40
Net debt	4,011	2,241	2,125	2,475
Net debt/EBITDA	1.90	1.21	1.14	1.43

1) As of the balance sheet date and in the comparative information, all derivatives are measured at fair value based on market data in accordance with IFRS.

2) As of the beginning of the 2013 financial year the defined benefit pension obligation is included in net debt. To reflect this change the comparative figures have been adjusted. 3) Funds in the cash processing operations are reported net in the item "Non-interest-bearing current assets". For more information, please refer to pages 52–53 and Note 23 in the Annual report 2013.

4) Of the shareholders' equity as of September 30, 2014, SEK 3 million is attributable to holdings with a non-controlling interest. For other periods the shareholders' equity is entirely attributable to the owners of the Parent Company.

CHANGE IN SHAREHOLDERS' EQUITY

	2014	2013	2013	2012	R12
SEK m	Jan–Sep	Jan–Sep	Full year	Full year
Opening balance	4,165	3,595	3,595	3,397	3,914
Actuarial gains and losses after tax	–74	–6	–9	–34	–78
Exchange rate differences	293	–36	17	–144	347
Cash flow hedges	–	–	–	3	–
Total other comprehensive income	219	–42	8	–175	269
Net income for the period	651	539	736	650	848
Total comprehensive income	870	497	744	474	1,117
Dividend paid to Parent Company's shareholders	–376	–338	–338	–273	–376
Share-related remuneration1)	–2	–3	0	–4	1
New share issue related to warrants	–	164	164	–	–
Other revaluation2)	–	–	–	–	–
Non-Controlling Interest	2	–	–	–	2
Closing balance3)	4,658	3,914	4,165	3,595	4,658

1) Including the repurchase of warrants.

2) Relates to a revaluation of a contingent consideration for the acquisition of Pendum's cash handling operations. A repayment installment of SEK 33 million was received in Q4 2012 and has been recycled to the statement of income, and an additional repayment installment of SEK 41 million was received in Q1 2013 and has been recycled to the statement of income, which is why the impact on other comprehensive income is nil. No further repayments relating to Pendum will be received.

3) Of the shareholders' equity as of September 30, 2014, SEK 3 million is attributable to holdings with a non-controlling interest. For other periods the shareholders' equity is entirely attributable to the owners of the Parent Company.

NUMBER OF SHARES AS OF SEPTEMBER 30, 2014

	Votes	No. of shares	No. of votes Quota value		SEKm
Class A shares	10	3,428,520	34,285,200	5	17
Class B shares	1	71,851,309	71,851,309	5	359
Total no. of shares		75,279,829	106,136,509		376
Total Class B treasury shares	1	–53,797	–53,797
Total no. of outstanding shares		75,226,032	106,082,712

STATEMENT OF CASH FLOWS

	2014	2013	2014	2013	2013	2012	R12
SEK m	Jul–Sep	Jul–Sep	Jan–Sep	Jan–Sep	Full year	Full year
Income before taxes	366	294	878	764	1,038	932	1,153
Items not affecting cash flow, items affecting comparability and acquisition-related costs	245	195	692	564	762	687	890
Income tax paid	–104	–131	–204	–250	–319	–252	–273
Change in accounts receivable	–30	32	–101	–36	6	54	–59
Change in other operating capital employed and other items	27	17	–140	–236	–186	–182	–89
Cash flow from operations	503	407	1,125	805	1,302	1,239	1,621
Cash flow from investment activities	–246	–184	–2,136	–428	–709	–1,003	–2,417
Cash flow from financing activities	–248	–69	1,186	–366	–641	–261	911
Cash flow for the period	9	154	175	11	–48	–24	115
Liquid funds at beginning of the period	507	243	333	380	380	413	388
Translation differences in liquid funds	12	–9	21	–4	1	–8	25
Liquid funds at end of period	529	388	529	388	333	380	529

STATEMENT OF CASH FLOWS, ADDITIONAL INFORMATION

	2014	2013	2014	2013	2013	2012	R12
SEK m	Jul–Sep	Jul–Sep	Jan–Sep	Jan–Sep	Full year	Full year
Operating income (EBITA)1)	406	311	981	805	1,099	1,019	1,276
Depreciation	227	190	645	563	758	717	839
Change in accounts receivable	–30	32	–101	–36	6	54	–59
Change in other operating capital employed and other items	27	17	–140	–236	–186	–182	–89
Cash flow from operating activities before investments	630	549	1,365	1,095	1,677	1,607	1,967
Investments in fixed assets, net	–245	–181	–603	–458	–720	–747	–864
Cash flow from operating activities	384	368	782	637	957	860	1,103
Financial items paid and received	–20	–11	–46	–36	–49	–63	–58
Income tax paid	–104	–131	–204	–250	–319	–252	–273
Free cash flow	261	227	533	350	590	545	772
Cash flow effect of items affecting comparability	–2	–1	–6	–3	–7	–10	–10
Acquisition of operations2)	–1	–3	–1,533	–10	–29	–289	–1,553
Acquisition-related costs and revenue, paid and received3)	–1	–0	–5	40	40	–10	–5
Dividend paid	–	–	–376	–338	–338	–273	–376
Repayments of leasing liabilities	–8	–6	–30	–24	–40	–21	–45
Change in interest-bearing net debt excluding liquid funds	–140	–12	1,393	–500	–512	34	1,381
Change in commercial paper issued	–99	–51	199	496	248	–	–49
Cash flow for the period	9	154	175	11	–48	–24	115
KEY RATIOS
Cash flow from operating activities as % of operating income (EBITA)	95	119	80	79	87	84	86
Investments in relation to depreciation	1.1	1.0	0.9	0.8	1.0	1.0	1.0
Investments as a % of total revenue	6.8	6.2	6.2	5.4	6.3	6.6	6.8

1) Earnings Before Interest, Taxes, Amortization of acquisition-related intangible fixed assets, Acquisition-related costs and revenue and Items affecting comparability.

2) Acquisition of operations includes the cash flow effect of acquisition-related costs.

3) Refers to acquisition-related restructuring and integration costs. During the first quarter of 2013 and the fourth quarter of 2012 repayment installments of the purchase price for Pendum's cash handling operations were received in the amounts of SEK 41 million and SEK 33 million respectively.

SEGMENT OVERVIEW STATEMENT OF INCOME

	Europe	USA	International Services1)	Other2)	Eliminations	Total
SEK m	Jan–Sep 2014	Jan–Sep 2014	Jan–Sep 2014	Jan–Sep 2014	Jan–Sep 2014	Jan–Sep 2014
Revenue, continuing operations	5,496	3,585	31	–	–31	9,082
Revenue, acquisitions	192	–	522	–	–	714
Total revenue	5,688	3,585	553	–	–31	9,796
Production expenses	–4,304	–2,761	–463	–	43	–7,485
Gross income	1,384	824	90	–	13	2,311
Selling and administrative expenses	–704	–468	–57	–87	–13	–1,330
Operating income (EBITA)3)	680	355	33	–87	0	981
Amortization of acquisition-related intangible assets	–14	–10	–7	–1	–	–32
Acquisition-related costs	–5	–1	–	–17	–	–23
Operating income (EBIT)	661	344	26	–105	0	926

1) International Services is a new segment which was launched in connection with Loomis' acquisition of VIA MAT Holding AG. The acquisition was consolidated on May 5, 2014. In the past Loomis has only had very limited operations in this area and they were included in the European segment, but as of May 5, 2014, these operations are included in segment International Services. Comparatives have not been restated for the segments due to the limited extent of international services provided prior to the VIA MAT acquisition.

2) Segment Other consists of the Parent Company's costs and certain other group-wide costs.

3) Earnings Before Interest, Taxes, Amortization of acquisition-related intangible fixed assets, Acquisition-related costs and revenue and Items affecting comparability.

SEGMENT OVERVIEW STATEMENT OF INCOME

	Europe	USA	International Services1)	Other2)	Eliminations	Total
SEK m	Jan–Sep 2013	Jan–Sep 2013	Jan–Sep 2013	Jan–Sep 2013	Jan–Sep 2013	Jan–Sep 2013
Revenue, continuing operations	5,136	3,262	–	–	–	8,398
Revenue, acquisitions	38	–	–	–	–	38
Total revenue	5,174	3,262	–	–	–	8,436
Production expenses	–3,957	–2,535	–	–	–	–6,492
Gross income	1,217	727		–	–	1,944
Selling and administrative expenses	–642	–420	–	–77	–	–1,139
Operating income (EBITA)3)	575	307	–	–77	–	805
Amortization of acquisition-related intangible assets	–10	–10	–	–1	–	–21
Acquisition-related costs	–11	37	–	3	–	29
Items affecting comparability	–14	–	–	–	–	–14
Operating income (EBIT)	540	333	–	–75	–	799

2) Segment Other consists of the Parent Company's costs and certain other group-wide costs.

3) Earnings Before Interest, Taxes, Amortization of acquisition-related intangible fixed assets, Acquisition-related costs and revenue and Items affecting comparability.

SEGMENT OVERVIEW STATEMENT OF INCOME, ADDITIONAL INFORMATION

	2014	2013	2014	2013	2013	2012	R12
SEK m	Jul–Sep	Jul–Sep	Jan–Sep	Jan–Sep	Full year	Full year
Europe2)
Revenue	2,022	1,800	5,688	5,174	7,005	6,955	7,519
Real growth, %	7	4	6	2	2	2	5
Organic growth, %	2	4	2	1	2	0	2
Operating income (EBITA)1)	294	246	680	575	794	736	899
Operating margin (EBITA), %	14.5	13.7	11.9	11.1	11.3	10.6	12.0
USA
Revenue	1,267	1,098	3,585	3,262	4,359	4,405	4,682
Real growth, %	7	4	7	2	2	5	6
Organic growth, %	7	4	7	2	2	0	6
Operating income (EBITA)1)	123	87	355	307	414	400	463
Operating margin (EBITA), %	9.7	7.9	9.9	9.4	9.5	9.1	9.9
International Services2)
Revenue	330	–	553	–	–	–	553
Operating income (EBITA)1)	19	–	33	–	–	–	33
Operating margin (EBITA), %	5.8	–	5.9	–	–	–	5.9
Other 3)
Revenue	–	–	–	–	–	–	–
Operating income (EBITA)1)	–29	–22	–87	–77	–109	–117	–119
Eliminations
Revenue	–18	–	–31	–	–	–	–31
Operating income (EBITA)1)	–	–	–	–	–	–	–
Group total
Revenue	3,600	2,897	9,796	8,436	11,364	11,360	12,724
Real growth, %	18	4	12	2	2	3	10
Organic growth, %	3	4	4	1	2	0	4
Operating income (EBITA)1)	406	311	981	805	1,099	1,019	1,276
Operating margin (EBITA), %	11.3	10.7	10,0	9.5	9.7	9.0	10.0

1) Earnings Before Interest, Taxes, Amortization of acquisition-related intangible fixed assets, Acquisition-related costs and revenue and Items affecting comparability.

2) International Services is a new segment which was launched in connection with Loomis' acquisition of VIA MAT Holding AG. The acquisition was consolidated on May 5, 2014. In the past Loomis has only had very limited operations in this area and they were included in the European segment, but as of May 5, 2014, these operations are included in segment International Services. Comparatives have not been restated for the segments due to the limited extent of international services provided prior to the VIA MAT acquisition.

3) Segment Other consists of the Parent Company's costs and certain other group-wide costs.

KEY RATIOS

	2014	2013	2014	2013	2013	2012	R12
	Jul–Sep	Jul–Sep	Jan–Sep	Jan–Sep	Full year	Full year
Real growth, %	18	4	12	2	2	3	10
Organic growth, %	3	4	4	1	2	0	4
Total growth,%	24	4	16	–1	0	4	13
Gross margin,%	24.8	23.8	23.6	23.0	23.2	22.7	23.6
Selling and administration expenses in % of total revenue	–13.5	–13.0	–13.6	–13.5	–13.5	–13.7	–13.6
Operating margin (EBITA), %	11.3	10.7	10.0	9.5	9.7	9.0	10.0
Tax rate, %	24	29	26	29	29	30	26
Net margin, %	7.7	7.2	6.6	6.4	6.5	5.7	6.7
Return of shareholders' equity, %	18	19	18	19	18	18	18
Return of capital employed, %	15	18	15	18	17	17	15
Equity ratio, %	38	43	38	43	45	40	38
Net debt (SEK m)	4,011	2,241	4,011	2,241	2,125	2,475	4,011
Net debt/EBITDA	1.90	1.21	1.90	1.21	1.14	1.43	1.90
Cash flow from operating activities as % of operating income (EBITA)	95	119	80	79	87	84	86
Investments in relation to depreciation	1.1	1.0	0.9	0.8	1.0	1.0	1.0
Investments as a % of total revenue	6.8	6.2	6.2	5.4	6.3	6.6	6.8
Earnings per share before dilution, SEK	3.701)	2.762)	8.651)	7.212)	9.833)	8.904)	11.275)
Earnings per share after dilution, SEK	3.70	2.766)	8.65	7.156)	9.78	8.60	11.27
Shareholders' equity per share after dilution, SEK	61.92	52.00	61.92	52.00	55.32	47.57	61.92
Cash flow from operating activities per share after dilution, SEK	6.69	5.40	14.95	10.70	17.29	16.40	21.55
Dividend per share, SEK	–	–	5.00	4.50	4.50	3.75	5.00
Number of outstanding shares (millions)	75.2	75.3	75.2	75.3	75.3	73.0	75.2
Average number of outstanding shares (millions)	75.21)	75.32)	75.21)	74.72)	74.83)	73.04)	75.35)

1) The number of outstanding shares, which constitutes the basis for calculation of earnings per share before dilution, is 75,226,032 for the period July–September 2014. The average number of outstanding shares, which constitutes the basis for calculation of earnings per share before dilution, is 75,241,855 for the period January–September 2014. The number of treasury shares amount to 53,797 as of September 30 2014.

2) The average number of outstanding shares, which constitutes the basis for calculation of earnings per share before dilution, is 75,278,357 for the period July–September 2013 and 74,692,924 for the period January–September 2013. The average number of outstanding shares includes 121,863 shares that were held as treasury shares as of September 30, 2013. The treasury shares were for Loomis' Incentive Scheme 2012 and have, in accordance with agreements, been allotted to employees.

3) The average number of outstanding shares, which constitutes the basis for calculation of earnings per share before dilution, is 74,838,476, which includes 121,863 shares that were held as treasury shares as of December 31, 2013. The treasury shares were for Loomis' Incentive Scheme 2012 and have, in accordance with agreements, been allotted to employees.

4) The average number of outstanding shares, which constitutes the basis for calculation of earnings per share before dilution, is 73,011,780, which includes 132,318 shares that were held as treasury shares as of December 31, 2012. The treasury shares were for Loomis' Incentive Scheme 2011 and have, in accordance with agreements, been allotted to employees. 5) The average number of outstanding shares, which constitutes the basis for calculation of earnings per share before dilution, is 75,251,310.

6) Calculated based on the maximum number of warrants being used to subscribe for shares under Loomis' subscription warrant program 2009/2013.

STATEMENT OF INCOME – BY QUARTER

	2014			2013		2012
SEK m	Jul–Sep	Apr–Jun	Jan–Mar	Oct–Dec	Jul–Sep	Apr–Jun	Jan–Mar	Oct–Dec	Jul–Sep
Revenue, continuing operations	3,184	3,033	2,864	2,923	2,897	2,832	2,668	2,798	2,734
Revenue, acquisitions	416	285	13	5	–	–	38	55	53
Total revenue	3,600	3,319	2,877	2,928	2,897	2,832	2,706	2,852	2,788
Production expenses	–2,708	–2,532	–2,245	–2,238	–2,209	–2,172	–2,111	–2,150	–2,131
Gross income	893	787	632	690	688	660	595	702	657
Selling and administration expenses	–487	–454	–390	–395	–378	–384	–378	–393	–384
Operating income (EBITA)1)	406	333	242	295	311	276	218	310	272
Amortization of acquisition-related intangible assets	–13	–13	–7	–7	–7	–7	–7	–7	–8
Acquisition-related costs and revenue2)	–9	–2	–12	–2	–0	–7	36	30	–14
Items affecting comparability	–	–	–	–	–	–143)	–	–	–
Operating income (EBIT)	384	318	223	286	303	248	247	333	251
Net financial items	–18	–16	–13	–12	–9	–13	–13	–11	–18
Income before taxes	366	303	210	274	294	236	234	321	234
Income tax	–88	–81	–59	–77	–87	–69	–69	–99	–70
Net income for the period4)	278	222	151	197	207	166	165	222	164
KEY RATIOS
Real growth, %	18	14	4	3	4	2	–1	2	0
Gross margin, %	3	4	4	3	4	2	–2	0	–2
Operating margin (EBITA), %	11.3	10.0	8.4	10.1	10.7	9.8	8.0	10.9	9.8
Tax rate, %	24	27	28	28	29	29	29	31	30
Earnings per share before dilution (SEK)	3.70	2.95	2.00	2.62	2.76	2.21	2.19	2.93	2.17

1) Earnings Before Interest, Tax, Amortization of acquisition-related intangible fixed assets, Acquisition-related costs and revenue and Items affecting comparability.

3) Items affecting comparability, SEK –14 million is to a large extent attributable to a write-down of book values in an operation within the European segment.

4) Of the result for the period July – September 2014, SEK 0 million is attributable to holdings with a non-controlling interest and for the period April – June 2014, SEK 1 million is attributable to holdings with a non-controlling interest. For other periods the net income for the period is entirely attributable to the owners of the Parent Company.

BALANCE SHEET – BY QUARTER

		2014			2013			2012
SEK m	Sep 30	Jun 30	Mar 31	Dec 31	Sep 30	Jun 30	Mar 31	Dec 31	Sep 30
ASSETS
Fixed assets
Goodwill	4,679	4,288	3,344	3,346	3,296	3,414	3,291	3,317	3,310
Acquisition-related intangible assets	363	571	119	126	131	142	144	153	159
Other intangible assets	123	126	92	93	90	91	88	93	86
Tangible fixed assets	3,494	3,430	2,933	2,972	2,779	2,807	2,711	2,865	2,822
Non interest-bearing financial fixed assets1)	490	396	391	447	399	352	374	414	409
Interest-bearing financial fixed assets1)	94	104	61	61	71	86	67	66	65
Total fixed assets	9,244	8,915	6,940	7,045	6,766	6,892	6,674	6,907	6,850
Current assets
Non interest-bearing current assets	2,568	2,527	2,062	1,879	1,846	1,889	1,765	1,689	1,849
Interest-bearing financial current assets	2	1	0	10	19	3	1	10	17
Liquid funds	529	507	302	333	388	243	620	380	264
Total current assets	3,099	3,035	2,364	2,222	2,253	2,135	2,386	2,079	2,130
TOTAL ASSETS	12,342	11,950	9,304	9,267	9,020	9,027	9,060	8,986	8,980
SHAREHOLDERS' EQUITY AND LIABILITIES
Shareholders' equity2)	4,658	4,273	4,297	4,165	3,914	3,837	3,880	3,595	3,371
Long-term liabilities
Interest-bearing long-term liabilities1)	4,574	2,984	1,858	1,849	2,042	2,088	2,457	2,883	3,035
Non interest-bearing provisions1)	786	794	584	674	590	598	639	663	621
Total long-term liabilities	5,360	3,779	2,442	2,523	2,632	2,686	3,096	3,547	3,655
Current liabilities
Tax liabilities	100	148	96	80	88	89	86	74	214
Non interest-bearing current liabilities	2,163	2,115	1,767	1,819	1,708	1,696	1,615	1,722	1,710
Interest-bearing current liabilities	61	1,636	702	680	677	719	383	48	29
Total current liabilities	2,324	3,899	2,565	2,579	2,473	2,503	2,084	1,845	1,954
TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES	12,342	11,950	9,304	9,267	9,020	9,027	9,060	8,986	8,980
KEY RATIOS
Return of shareholders' equity, %	18	18	17	18	19	19	18	18	18
Return of capital employed, %	15	14	17	17	18	17	17	17	16
Equity ratio, %	38	36	46	45	43	43	43	40	38
Net debt	4,011	4,008	2,197	2,125	2,241	2,475	2,153	2,475	2,717
Net debt/EBITDA	1.90	2.02	1.16	1.14	1.21	1.37	1.23	1.43	1.62

1) As of the beginning of the 2013 financial year the defined benefit pension obligation is included in net debt. To reflect this change the comparative figures have been adjusted.

2) Of the shareholders' equity as of September 30, 2014, SEK 3 million is attributable to holdings with a non-controlling interest, and as of June 30, 2014 the corresponding figure was SEK 3 million. For other periods the shareholders' equity is entirely attributable to the owners of the Parent Company.

CASH FLOW – BY QUARTER

		2014 2013			2012
SEK m			Jul–Sep Apr–Jun Jan–Mar Oct–Dec				Jul–Sep Apr–Jun Jan–Mar Oct–Dec		Jul–Sep
Additional information
Operating income (EBITA)1)	406	333	242	295	311	276	218	310	272
Depreciation	227	217	201	195	190	187	186	179	181
Change in accounts receivable	–30	–26	–45	42	32	–63	–5	51	16
Change in other operating capital employed and other items	27	70	–236	51	17	3	–256	–5	116
Cash flow from operating activities before investments	630	594	162	582	549	403	143	534	585
Investments in fixed assets, net	–245	–207	–150	–262	–181	–192	–86	–222	–223
Cash flow from operating activities	384	387	11	321	368	211	57	313	362
Financial items paid and received	–20	–9	–17	–12	–11	–10	–15	–11	–26
Income tax paid	–104	–68	–32	–69	–131	–88	–31	–70	–9
Free cash flow	261	309	–37	239	227	112	11	232	328
Cash flow effect of items affecting comparability	–2	–2	–1	–4	–1	–1	–0	–0	–3
Acquisition of operations2)	–1	–1,530	–2	–19	–3	–5	–2	–3	–7
Acquisition-related costs and revenue, paid and received3)	–1	–2	–2	–	–0	–1	41	29	–9
Dividend paid	–	–376	–	–	–	–338	–	–	–
Repayments of leasing liabilities	–8	–11	–11	–16	–6	–9	–9	–0	–7
Change in interest-bearing net debt excl. liquid funds	–140	1,511	22	–11	–12	–392	–96	–142	–237
Change in commercial paper issued	–99	298	–	–248	–51	250	297	–	–
Cash flow for the period	9	196	–31	–60	154	–385	242	116	64
KEY RATIOS
Cash flow from operating activities as % of operating income (EBITA)	95	116	5	109	119	76	26	101	133
Investments in relation to depreciation	1.1	1.0	0.7	1.3	1.0	1.0	0.5	1.2	1.2
Investments as a % of total revenue	6.8	6.2	5.2	8.9	6.2	6.8	3.2	7.8	8.0

1) Earnings Before Interest, Taxes, Amortization of acquisition-related intangible fixed assets, Acquisition-related costs and revenue and Items affecting comparability.

2) Acquisition of operations includes the cash flow effect of acquisition-related costs.

SEGMENT OVERVIEW STATEMENT OF INCOME – BY QUARTER, ADDITIONAL INFORMATION

	2014			2013				2012
SEK m	Jul–Sep	Apr–Jun	Jan–Mar	Oct–Dec	Jul–Sep	Apr–Jun	Jan–Mar	Oct–Dec	Jul–Sep
Europe2)
Revenue	2,022	1,913	1,753	1,831	1,800	1,733	1,641	1,762	1,710
Real growth, %	7	6	4	3	4	2	–1	2	0
Organic growth, %	2	2	3	3	4	2	–3	0	–2
Operating income (EBITA) 1)	294	226	160	219	246	181	148	219	206
Operating margin (EBITA), %	14.5	11.8	9.1	12.0	13.7	10.4	9.0	12.4	12.1
USA
Revenue	1,267	1,194	1,124	1,097	1,098	1,099	1,065	1,091	1,077
Real growth, %	7	8	5	2	4	2	0	1	–1
Organic growth, %	7	8	5	2	4	2	0	0	–2
Operating income (EBITA) 1)	123	125	108	107	87	127	93	125	92
Operating margin (EBITA), %	9.7	10.4	9.6	9.8	7.9	11.6	8.7	11.5	8.5
International Services2)
Revenue	330	224	–	–	–	–	–	–	–
Operating income (EBITA) 1)	19	14	–	–	–	–	–	–	–
Operating margin (EBITA), %	5.8	6.1	–	–	–	–	–	–	–
Other 3)
Revenue	–	–	–	–	–	–	–	–	–
Operating income (EBITA) 1)	–29	–31	–26	–32	–22	–31	–23	–34	–26
Eliminations
Revenue	–18	–12	–	–	–	–	–	–	–
Operating income (EBITA) 1)	–	–	–	–	–	–	–	–	–
Group total
Revenue	3,600	3,319	2,877	2,928	2,897	2,832	2,706	2,852	2,788
Real growth, %	18	14	4	3	4	2	–1	2	0
Organic growth, %	3	4	4	3	4	2	–2	0	–2
Operating income (EBITA) 1)	406	333	242	295	311	276	218	310	272
Operating margin (EBITA), %	11.3	10.0	8.4	10.1	10.7	9.8	8.0	10.9	9.8

1) Earnings Before Interest, Taxes, Amortization of acquisition-related intangible fixed assets, Acquisition-related costs and revenue, and Items affecting comparability.

3) Segment Other consists of the Parent Company's costs and certain other group-wide costs.

SEGMENT OVERVIEW BALANCE SHEET – BY QUARTER

	2014		2013				2012
SEK m	Sep 30	Jun 30	Mar 31	Dec 31	Sep 30	Jun 30	Mar 31	Dec 31	Sep 30
Europe1)
Assets	5,025	5,164	4,466	4,399	4,229	4,177	3,974	4,107	4,077
Liabilities	1,909	1,887	1,560	1,588	1,517	1,491	1,372	1,553	1,496
USA
Assets	4,781	4,316	4,163	4,089	4,031	4,231	4,095	4,052	4,066
Liabilities	580	526	472	527	555	540	540	596	598
International Services1)
Assets	1,563	1,660	–	–	–	–	–	–	–
Liabilities	358	381	–	–	–	–	–	–	–
Other 2)
Assets	973	810	675	779	759	619	990	827	838
Liabilities	4,837	4,884	2,975	2,988	3,033	3,159	3,268	3,242	3,515
Shareholder's equity3)	4,658	4,273	4,297	4,165	3,914	3,837	3,880	3,595	3,371
Group total
Assets	12,342	11,950	9,304	9,267	9,020	9,027	9,060	8,986	8,980
Liabilities	7,684	7,678	5,007	5,103	5,105	5,190	5,180	5,391	5,609
Shareholder's equity3)	4,658	4,273	4,297	4,165	3,914	3,837	3,880	3,595	3,371

3) Of the shareholders' equity as of September 30, 2014, SEK 3 million is attributable to holdings with a non-controlling interest, and as of June 30, 2014 the corresponding figure was SEK 3 million. For other periods the shareholders' equity is entirely attributable to the owners of the Parent Company.

QUARTERLY DATA

	2014			2013				2012
SEK m	Jul–Sep	Apr–Jun	Jan–Mar	Oct–Dec	Jul–Sep	Apr–Jun	Jan–Mar	Oct–Dec	Jul–Sep
Cash flow
Operations	503	511	110	496	407	302	96	450	538
Investment activities	–246	–1,737	–153	–281	–184	–197	–47	–192	–230
Financing activities	–248	1,422	12	–275	–69	–490	192	–142	–244
Cash flow for the period	9	196	–31	–60	154	–385	242	116	64
Capital employed and financing
Operating capital employed	3,606	3,543	3,057	2,834	2,743	2,818	2,685	2,631	2,618
Goodwill	4,679	4,288	3,344	3,346	3,296	3,414	3,291	3,317	3,310
Acquisition-related intangible assets	363	571	119	126	131	142	144	153	159
Other capital employed	21	–121	–26	–16	–14	–62	–87	–31	2
Capital employed	8,669	8,281	6,494	6,290	6,156	6,312	6,033	6,070	6,089
Net debt	4,011	4,008	2,197	2,125	2,241	2,475	2,153	2,475	2,717
Shareholders' equity1)	4,658	4,273	4,297	4,165	3,914	3,837	3,880	3,595	3,371
Key ratios
Return of shareholders' equity, %	18	18	17	18	19	19	18	18	18
Return of capital employed, %	15	14	17	17	18	17	17	17	16
Equity ratio, %	38	36	46	45	43	43	43	40	38
Net debt/EBITDA	1.90	2.02	1.16	1.14	1.21	1.37	1.23	1.43	1.62

1) Of the shareholders' equity as of September 30, 2014, SEK 3 million is attributable to holdings with a non-controlling interest and as of June 30, 2014 the corresponding figure was SEK 3 million. For other periods the shareholders' equity is entirely attributable to the owners of the Parent Company.

KEY RATIOS – BY QUARTER

	2014				2013		2012
SEK m	Jul–Sep	Apr–Jun	Jan–Mar	Oct–Dec	Jul–Sep	Apr–Jun	Jan–Mar	Oct–Dec	Jul–Sep
Real growth, %	18	14	4	3	4	2	–1	2	0
Organic growth, %	3	4	4	3	4	2	–2	0	–2
Total growth, %	24	17	6	3	4	–2	–4	–1	–3
Gross margin,%	24.8	23.7	22.0	23.6	23.8	23.3	22.0	24.6	23.6
Selling and administration expenses in % of total revenue	–13.5	–13.7	–13.6	–13.5	–13.0	–13.5	–14.0	–13.8	–13.8
Operating margin (EBITA), %	11.3	10.0	8.4	10.1	10.7	9.8	8.0	10.9	9.8
Tax rate, %	24	27	28	28	29	29	29	31	30
Net margin, %	7.7	6.7	5.2	6.7	7.2	5.9	6.1	7.8	5.9
Return of shareholders' equity, %	18	18	17	18	19	19	18	18	18
Return of capital employed, %	15	14	17	17	18	17	17	17	16
Equity ratio, %	38	36	46	45	43	43	43	40	38
Net debt (SEK m)	4,011	4,008	2,197	2,125	2,241	2,475	2,153	2,475	2,717
Net debt/EBITDA	1.90	2.02	1.16	1.14	1.21	1.37	1.23	1.43	1.62
Cash flow from operating activities as % of operating income (EBITA)	95	116	5	109	119	76	26	101	133
Investments in relation to depreciation	1.1	1.0	0.7	1.3	1.0	1.0	0.5	1.2	1.2
Investments as a % of total revenue	6.8	6.2	5.2	8.9	6.2	6.8	3.2	7.8	8.0
Earnings per share before dilution, SEK	3.701)	2.952)	2.003)	2.624)	2.765)	2.216)	2.247)	3.048)	2.249)
Earnings per share after dilution, SEK	3.70	2.95	2.00	2.62	2.76	2.21	2.19	2.93	2.17
Shareholders' equity per share after dilution, SEK	61.92	56.80	57.12	55.32	52.00	50.97	51.54	47.57	44.62
Cash flow from operating activities per share after dilution, SEK	6.69	6.80	1.47	6.60	5.40	4.02	1.28	5.95	7.12
Dividend per share, SEK	–	5.00	–	–	–	4.50	–	–	–
Number of outstanding shares (millions)	75.2	75.2	75.2	75.3	75.3	75.2	75.2	73.0	73.0
Average number of outstanding shares (millions)	75.21)	75.22)	75.33)	75.34)	75.35)	75.26)	73.57)	73.08)	73.09)

1) The number of outstanding shares, which constitutes the basis for calculation of earnings per share before dilution, is 75,226,032, which includes 53,797 shares that were held as treasury shares as of September 30, 2014.

2) The number of outstanding shares, which constitutes the basis for calculation of earnings per share before dilution, is 75,226,032, which includes 53,797 shares that were held as treasury shares as of June 30, 2014.

3) The average number of outstanding shares, which constitutes the basis for calculation of earnings per share before dilution, is 75,273,755, which includes 53,797 shares that were held as treasury shares as of March 31, 2014.

4) The average number of outstanding shares, which constitutes the basis for calculation of earnings per share before dilution, is 75,279,829, which includes 121,863 shares that were held as treasury shares as of December 31, 2013. The treasury shares were for Loomis' Incentive Scheme 2012 and have, in accordance with agreements, been allotted to employees.

5) The average number of outstanding shares, which constitutes the basis for calculation of earnings per share before dilution, is 75,278,357, which includes 121,863 shares that were held as treasury shares as of September 30, 2013. The treasury shares were for Loomis' Incentive Scheme 2012 and have, in accordance with agreements, been allotted to employees. 6) The average number of outstanding shares, which constitutes the basis for calculation of earnings per share before dilution, is 75,231,259, which includes 121,863 shares that were

held as treasury shares as of June 30, 2013. The treasury shares were for Loomis' Incentive Scheme 2012 and have, in accordance with agreements, been allotted to employees. 7) The average number of outstanding shares, which constitutes the basis for calculation of earnings per share before dilution, is 73,548,751, which includes 117,813 shares that were

held as treasury shares as of March 31, 2013. The treasury shares were for Loomis' Incentive Scheme 2012 and have, in accordance with agreements, been allotted to employees. 8) The average number of outstanding shares, which constitutes the basis for calculation of earnings per share before dilution, is 73,011,780, which includes 132,318 shares that were held as treasury shares as of December 31, 2012. The treasury shares were for Loomis' Incentive Scheme 2011 and have, in accordance with agreements, been allotted to employees.

9) The average number of outstanding shares, which constitutes the basis for calculation of earnings per share before dilution, is 73,011,780, which includes 132,318 shares that were held as treasury shares as of September 30, 2012. The treasury shares were for Loomis' Incentive Scheme 2011 and have, in accordance with agreements, been allotted to employees.

Definitions

Gross margin, %

Gross income as a percentage of total revenue.

Operating income (EBITA)

Earnings Before Interest, Taxes, Amortization of acquisitionrelated intangible fixed assets, Acquisition-related costs and revenue and Items affecting comparability.

Operating margin (EBITA), %

Earnings Before Interest, Taxes, Amortization of acquisitionrelated intangible fixed assets, Acquisition-related costs and revenue and Items affecting comparability, as a percentage of revenue.

Operating income (EBITDA)

Earnings Before Interest, Taxes, Depreciation, Amortization of acquisition-related intangible fixed assets, Acquisitionrelated costs and revenue and Items affecting comparability.

Operating income (EBIT)

Earnings Before Interest and Tax.

Real growth, %

Increase in revenue for the period, adjusted for changes in exchange rates, as a percentage of the previous year's revenue.

Organic growth, %

Increase in revenue for the period, adjusted for acquisition/ divestitures and changes in exchange rates, as a percentage of the previous year's revenue adjusted for divestitures.

Total growth, %

Increase in revenue for the period as a percentage of the previous year's revenue.

Net margin, %

Net income for the period after tax as a percentage of total revenue.

Earnings per share before dilution

Net income for the period in relation to the average number of outstanding shares during the period. The average number of outstanding shares included until March 21, 2014, treasury shares for Loomis Incentive Scheme 2012. Calculation for:

Jul –Sep 2014: 278/75,226,032 x 1,000,000 = 3.70 Jul –Sep 2013: 207/75,278,357 x 1,000,000 = 2.76 Jan –Sep 2014: 651/75,241,855 x 1,000,000 = 8.65 Jan –Sep 2013: 539/74,692,924 x 1,000,000 = 7.21

Earnings per share after dilution

Calculation for: Jul–Sep 2014: 278/75,226,032 x 1,000,000 = 3.70 Jul–Sep 2013: 207/75,279,829 x 1,000,000 = 2.76 Jan–Sep 2014: 651/75,226,032 x 1,000,000 = 8.65 Jan –Sep 2013: 539/75,279,829 x 1,000,000 = 7.15

Cash flow from operations per share

Cash flow for the period from operations in relation to the number of shares after dilution.

Investments in relation to depreciation

Investments in fixed assets, net, for the period, in relation to depreciation.

Investments as a % of total revenue

Investments in fixed assets, net, for the period, as a percentage of total revenue.

Shareholders' equity per share

Shareholders' equity in relation to the number of shares after dilution.

Cash flow from operating activities as % of operating income (EBITA)

Cash flow for the period before financial items, income tax, items affecting comparability, acquisitions and divestitures of operations and financing activities, as a percentage of operating income (EBITA).

Return on equity, %

Net income for the period (rolling 12 months) as a percentage of the closing balance of shareholders' equity.

Return on capital employed, %

Operating income (EBITA) (rolling 12 months) as a percentage of the closing balance of capital employed.

Equity ratio, %

Shareholders' equity as a percentage of total assets.

Net debt

Interest-bearing liabilities less interest-bearing assets and liquid funds.

R12

Rolling 12-months period (October 2013 up to and including September 2014).

Other

Amounts in tables and other combined amounts have been rounded off on an individual basis. Minor differences due to this rounding-off, may, therefore, appear in the totals.

Loomis in brief

Vision

Loomis' vision is to be the undisputed specialist at managing cash in society.

Business concept

Loomis' business concept is to create the most efficient flow of cash in society.

Financial targets

2014–2017

Revenue: SEK 17 billion by 2017.
Operating margin (EBITA): 10–12 percent.
Net debt/EBITDA: Max 3.0.
Dividend: 40–60 percent of net income.

Information meeting

An information meeting will be held on November 6, 2014 09:30 a.m. (CET). This meeting will be held at Hallvarsson & Halvarsson, Sveavägen 20, 9th floor, Stockholm.

To listen to the meeting proceedings by telephone (and to participate in the question and answer session), please register in advance by using the following link: https://eventreg2.conferencing.com/webportal3/reg.html?Acc=950707&Conf=216844 and follow the instructions, or by calling +46 (0)8 505 201 14 or +44 (0)207 1620 177 or +1 334 323 6203.

The meeting can also be viewed online at www.loomis.com/investors/reports&presentations

A recording of the webcast will be available at www.loomis.com/investors/ reports&presentations after the information meeting, and a telephone recording of the meeting will be available until midnight on November 20, 2014 on telephone number +46(0)8 505 203 33, +44 (0)20 7031 4064 and + 1 954 334 0342, access code 949078.

Future reporting and meetings

Interim report	January –December	February 4, 2015
Interim report	January –March	May 6, 2015
Interim report	January –June	July 31, 2015
Interim report	January –September	November 6, 2015

Loomis' Annual General Meeting will be held on Wednesday, May 6, 2015 in Stockholm. Annual Report for 2014 will be available on www.loomis.com in April 2015.

For further information

Jarl Dahlfors, CEO +46 (0)70 607 20 51, e-mail: [email protected] Anders Haker, CFO +46 (0)70 810 85 59, e-mail: [email protected] Questions can also be sent to: [email protected]. Refer also to the Loomis website: www.loomis.com

Loomis AB discloses information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. This information was submitted for publication on Thursday, November 6, 2014 at 8.00 a.m. (CET).

Loomis AB (publ.) Corporate Identity Number 556620-8095, PO Box 702, SE-101 33 Stockholm, Sweden Telephone: +46 8-522 920 00, Fax: +46 8-522 920 10 www.loomis.com

AI assistant

Loomis — Earnings Release 2014

2940_10-q_2014-11-06_807a2136-e73f-4523-8694-a6b868030a26.pdf

July–September 2014

January–September 2014

Financial targets 2014–2017

Comments by the President and CEO

Strong growth and new financial targets

Growth and operating income during the quarter

Contract with Tesco

Jarl Dahlfors

The Group and the segments in brief

Revenue and income

July–September 2014

January–September 2014

The segments

LOOMIS EUROPE1)

Revenue and operating income – Segment Europe July–September 2014

Revenue and operating income – Segment Europe January–September 2014

LOOMIS USA

Revenue and operating income – Segment USA July–September 2014

Revenue and operating income – Segment USA January–September 2014

INTERNATIONAL SERVICES1)

Revenue and operating income – Segment International Services July–September 2014

Revenue and operating income – Segment International Services May–September 2014

Cash flow

STATEMENT OF CASH FLOWS

Cash flow

July – September 2014

January – September 2014

Capital employed and financing

CAPITAL EMPLOYED AND FINANCING

Capital employed

Shareholders' equity and financing

Acquisitions

Acquisitions January–September 2014

Significant events and number of full-time employees

Significant events during the period

Significant events after the end of the reporting period

Number of full-time employees

Risks and uncertainties

Operational risks

Financial risk

Factors of uncertainty

Seasonal variations

Parent Company

SUMMARY STATEMENT OF INCOME

SUMMARY BALANCE SHEET

Other significant events

Accounting principles

Outlook for 2014

Report of Review

Introduction

Scope of Review

Conclusion

STATEMENT OF INCOME

STATEMENT OF COMPREHENSIVE INCOME

BALANCE SHEET

CHANGE IN SHAREHOLDERS' EQUITY

NUMBER OF SHARES AS OF SEPTEMBER 30, 2014

STATEMENT OF CASH FLOWS

STATEMENT OF CASH FLOWS, ADDITIONAL INFORMATION

SEGMENT OVERVIEW STATEMENT OF INCOME

SEGMENT OVERVIEW STATEMENT OF INCOME

SEGMENT OVERVIEW STATEMENT OF INCOME, ADDITIONAL INFORMATION

KEY RATIOS

STATEMENT OF INCOME – BY QUARTER

BALANCE SHEET – BY QUARTER

CASH FLOW – BY QUARTER

SEGMENT OVERVIEW STATEMENT OF INCOME – BY QUARTER, ADDITIONAL INFORMATION

SEGMENT OVERVIEW BALANCE SHEET – BY QUARTER

QUARTERLY DATA

KEY RATIOS – BY QUARTER

Definitions

Gross margin, %

Operating income (EBITA)

Operating margin (EBITA), %

Operating income (EBITDA)

Operating income (EBIT)

Real growth, %

Loomis Earnings Release 2014