Loomis — Earnings Release 2016

Feb 1, 2017

full-year report

januarY– december 2016

Managing cash in society.

October–December 2016 January–December 2016

• Revenue SEK 4,421 million (4,144). Real growth 4 percent (5) and organic growth 4 percent (3).
• Operating income (EBITA)1) SEK 543 million (479) and operating margin 12.3 percent (11.6).
• Income before taxes SEK 477 million (415) and income after taxes SEK 342 million (299).
• Earnings per share before and after dilution SEK 4.55 (3.97).

• Cash flow from operating activities SEK 867 million (384), equivalent to 160 percent (80) of operating income (EBITA).

• Revenue SEK 16,800 million (16,097). Real growth 5 percent (7) and organic growth 5 percent (2).

• Operating income (EBITA)1) SEK 1,890 million (1,703) and operating margin 11.2 percent (10.6).
• Income before taxes SEK 1,735 million (1,461) and income after taxes SEK 1,258 million (1,069).
• Earnings per share before dilution and after dilution SEK 16.73 (14.21).
• Cash flow from operating activities SEK 2,013 million (1,264), equivalent to 107 percent (74) of operating income (EBITA).
• Proposed dividend SEK 8.00 (7.00) per share.

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

Loomis' financial targets

Net debt/EBITDA

Not exceeding 3.0

Operating margin (EBITA), %

Annual Dividend, %

40–60% of the Group´s net income

*Dividend proposal for the 2017 Annual General Meeting.

Comments by the President and CEO

Our focus on increasing volumes in our Cash Management Services operations and on improving cost efficiency continued to yield results in the fourth quarter.

Our focus on increasing volumes in our Cash Management Services (CMS) operations and on improving cost efficiency continued to yield results in the fourth quarter. The Group's operating margin for the quarter amounted to 12.3 percent (11.6), which is the highest operating margin Loomis has had in a fourth quarter. The organic growth for the quarter was 4 percent (3). In the US the strong sales trend for SafePoint continues and the concept is now being introduced, albeit on a smaller scale, in Europe. We believe that there are good prospects for successful SafePoint sales in the long term in Europe as well.

As I summarize the full year 2016 I can report a positive development. Our operating margin increased to 11.2 percent (10.6) and our organic growth was 5 percent (2). The year was mainly characterized by increased volumes in the USA and our ongoing efforts to improve efficiency in several of our operations. In 2016 we also acquired BKS in Denmark and divested the general cargo operations, previously a part of Loomis International. The acquisition of BKS has made us the market leader in Denmark and the divestment of the general cargo operations has enabled us to sharpen our focus on the remaining core business within our International segment.

The strong organic growth continued in the USA and amounted to 8 percent (10) for the quarter. The growth was generated by both increased volumes within CMS and an increased share of the market in both CMS and Cash In Transit (CIT). We have sustained our strong growth in CMS and SafePoint – a trend that is going in the direction we want to see. Revenue from SafePoint grew by 21 percent compared to the same quarter in 2015 and accounted for 11 percent of the quarter's total revenue in the USA. We installed 520 SafePoint units during the quarter and at the end of December the total number of installed units was 19,020. The increased SafePoint and CMS volumes, in combination with the continuing efficiency improvements, have had a positive impact on our operating margin. During the quarter we increased our operating margin in the USA to 12.1 percent (11.7). Our success in improving our operating margin accompanied by our strong organic growth is a confirmation – in this quarter too – of our strong position in the US market.

The operating margin for Segment Europe amounted to 14.6 percent (14.0). Our operations in many countries have contributed to the improved profitability, but I would in particular like to highlight the UK where successful action programs have significantly improved our operating margin. Organic growth for the segment was 0 percent (1). Positive growth particularly in Spain, Argentina and Turkey, was offset by a negative development in the Nordic countries. Volumes in the UK were slightly lower during the quarter as some of the retail customers, we took over in connection with the acquisition of Cardtronics' cash handling operations in UK in summer 2015, chose other suppliers in 2016. Integration work after the acquisition in Denmark earlier in the year is progressing well and we are optimistic that the positive effects we have seen so far will continue in 2017. On January 27, 2017, we announced the acquisition of the Belgian company Cobelguard. The acquisition further expands our European footprint and gives us the opportunity to benefit from the ongoing outsourcing trend.

Our International segment had positive organic growth and amounted to 6 percent (–12) for the quarter. The organic growth is primarily derived from increased revenue from cross-border transportation of bank notes. The operating margin for the quarter also improved, amounting to 8.1 percent (6.8). The divestment of the general cargo operations has enabled us to further focus on the core business resulting in an increased profitability for the segment.

I am pleased to present another successful quarter and year for Loomis. We have followed the strategy we established and we are well on our way towards reaching the targets we announced in September 2014. The revenue and operating margin targets we set in 2014 are for the whole of 2017 and we are working at full speed to update the strategy and targets for the period beyond 2017. On September 28, 2017, we will hold a capital markets day in London at which we will present our updated strategy and new targets.

Loomis is one of the world's leading cash handling companies, but there is more work for us to do. I look forward to leading Loomis into the next phase and creating more value for all of our stakeholders.

Patrik Andersson

President and CEO

The Group and the segments in brief

	2016	2015	2016	2015
SEK m	Oct– Dec	Oct– Dec	Full year	Full year
Group total
Revenue	4,421	4,144	16,800	16,097
Real growth, %	4	5	5	7
Organic growth, %	4	3	5	2
Operating income (EBITA)1)	543	479	1,890	1,703
Operating margin, %	12.3	11.6	11.2	10.6
Earnings per share before dilution, SEK2)	4.55	3.97	16.73	14.21
Earnings per share after dilution, SEK	4.55	3.97	16.73	14.21
Cash flow from operating activities as % of operating income (EBITA)	160	80	107	74
Segments
Europe
Revenue	2,214	2,113	8,384	8,332
Real growth, %	4	4	3	4
Organic growth, %	0	1	0	1
Operating income (EBITA)1)	324	295	1,119	1,055
Operating margin, %	14.6	14.0	13.4	12.7
USA
Revenue	1,968	1,708	7,325	6,428
Real growth, %	9	11	12	7
Organic growth, %	8	10	11	6
Operating income (EBITA)1)	239	200	842	692
Operating margin, %	12.1	11.7	11.5	10.8
International
Revenue	252	342	1,149	1,419
Real growth, %	–30	–12	–17	n/a
Organic growth, %	6	–12	0	n/a
Operating income (EBITA)1)	20	23	77	87
Operating margin, %	8.1	6.8	6.7	6.1

1) Earnings Before Interest, Taxes and 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 for the period 75,226,032. The number of Class B treasury was 53,797.

Operating margin (EBITA)

Operating margin(EBITA) rolling 12 months

Operating margin (EBITA)

Operating margin (EBITA) per quarter

Revenue and income

	2016	2015	2016	2015
SEK m	Oct– Dec	Oct– Dec	Full year	Full year
Revenue	4,421	4,144	16,800	16,097
Operating income (EBITA)1)	543	479	1,890	1,703
Operating income (EBIT)	512	445	1,852	1,575
Income before taxes	477	415	1,735	1,461
Net income for the period	342	299	1,258	1,069
KEY RATIOS
Real growth, %	4	5	5	7
Organic growth, %	4	3	5	2
Operating margin, %	12.3	11.6	11.2	10.6
Tax rate, %	28	28	27	27
Earnings per share after dilution, SEK	4.55	3.97	16.73	14.21

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

October – December 2016

Revenue for the fourth quarter amounted to SEK 4,421 million compared to SEK 4,144 million for the corresponding quarter the previous year. The organic growth of 4 percent (3) is mainly related to increased revenue from cash management services (CMS) and SafePoint in the USA. The real growth amounted to 4 percent (5) and includes revenue attributable to the acquisition implemented in August 2016 of Bankernes Kontantservice A/S (BKS) in Denmark and the acquisition completed in the USA in 2015. Real growth was negatively affected by the divestment of the general cargo operations at the beginning of July 2016.

The operating income (EBITA) amounted to SEK 543 million (479) and the operating margin improved to 12.3 percent (11.6). At comparable exchange rates the income improvement was around SEK 48 million. The improved profitability is mainly explained by organic growth in CMS and SafePoint in the USA, and by the ongoing efforts to improve efficiency, which continue to yield results in several countries.

The operating income (EBIT) for the quarter amounted to SEK 512 million (445), which includes amortization of acquisitionrelated intangible assets of SEK –15 million (–16) and acquisition-related costs of SEK –15 million (–18). The acquisitionrelated costs are mainly relating to the acquisition of BKS.

Income before tax of SEK 477 million (415) includes a net financial expense of SEK –35 million (–30).

The tax expense for the quarter amounted to SEK –135 million (–116), which represents a tax rate of 28 percent (28).

Earnings per share after dilution amounted to SEK 4.55 (3.97).

January – December 2016

Revenue for the full year 2016 amounted to SEK 16,800 million (16,097) and organic growth was 5 percent (2). The cash management contract implemented incrementally in the USA in 2015, increased revenue from SafePoint and higher sales in a number of European countries are the main explanations for the organic growth. The real growth amounted to 5 percent (7) and includes revenue attributable to the acquisition implemented in August in Denmark and the acquisitions in the USA and the UK in 2015. Real growth was negatively affected by the divestment of the general cargo operations at the beginning of the third quarter of 2016.

The operating income (EBITA) for the full year amounted to SEK 1,890 million compared to SEK 1,703 million the previous year. At comparable exchange rates the income improvement was around SEK 194 million. Organic growth in CMS and SafePoint in the USA, and the ongoing efforts to improve efficiency, which continue to yield results in both Europe and the USA, are the main explanations for the operating margin improvement to 11.2 percent (10.6).

The operating income (EBIT) amounted to SEK 1,852 million (1,575), which includes amortization of acquisition-related intangible assets of SEK –62 million (–62), acquisition-related costs of SEK –56 million (–79) and an item affecting comparability of SEK 81 million (12). The acquisition-related costs are mainly costs relating to the acquisition of BKS in Denmark. The item affecting comparability relates to a capital gain reported following the divestment of the general cargo operations.

Income before taxes of SEK 1,735 million (1,461) includes a net financial expense of SEK –117 million (–114).

The tax expense for the year amounted to SEK –477 million (–392), which represents a tax rate of 27 percent (27).

Earnings per share after dilution amounted to SEK 16.73 (14.21).

The segments

europe

	2016	2015	2016	2015
SEK m	Oct– Dec	Oct– Dec	Full year	Full year
Revenue	2,214	2,113	8,384	8,332
Real growth, %	4	4	3	4
Organic growth, %	0	1	0	1
Operating income (EBITA)1)	324	295	1,119	1,055
Operating margin, %	14.6	14.0	13.4	12.7

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 Europe October – December 2016

Revenue for Segment Europe amounted to SEK 2,214 million (2,113) and organic growth was 0 percent (1). Positive growth in a number of countries – primarily Spain, Turkey and Argentina – had a positive impact on organic growth. This growth was, however, offset by lower volumes in the Nordic countries and in the UK. The lower volumes in the UK are a result of the fact that a few retail customers, taken over in connection with the acquisition of Cardtronics' cash handling operations in the UK in 2015, have chosen other suppliers. The real growth amounted to 4 percent (4) and includes revenue attributable to the Danish company BKS which was acquired on August 22, 2016.

The operating income (EBITA) amounted to SEK 324 million (295) and the operating margin improved to 14.6 percent (14.0). The improved operating margin is explained by ongoing efforts to improve efficiency, which continue to yield results in several countries. Profitability improvement was most evident in the UK where initiatives taken to manage the increased volumes in 2015 continued to yield results in the form of improved service quality and higher operational efficiency. Action programs are currently in progress in the Nordic countries to compensate for the lower volumes.

January – December 2016

Revenue for the full year 2016 amounted to SEK 8,384 million compared to SEK 8,332 million the previous year. The organic growth for Segment Europe remained unchanged in 2016 amounting to 0 percent (1). Positive growth in a number of countries – mainly Spain, Turkey and Argentina – was offset by lower volumes in the Nordic countries and in the UK. The real growth of 3 percent (4) includes revenue from the acquisition of Cardtronics' cash handling operations in the UK implemented in 2015 as well as revenue from the acquisition of the Danish company BKS in August 2016.

The operating income (EBITA) amounted to SEK 1,119 million (1,055) million and the operating margin was 13.4 percent (12.7). The improvement is explained by continuing efforts to improve efficiency which continue to yield results in several countries. Profitability improvement has been most evident in the southern European countries and the UK. The initiatives taken in the UK to manage the increased volumes resulting from the above-mentioned acquisition and the contract signed with Tesco in 2014 have been successful in terms of both higher service quality and improved operational efficiency. Action programs are currently in place in the Nordic countries to compensate for the lower volumes, which have had a slightly negative effect on the operating margin.

USA

	2016	2015	2016	2015
SEK m	Oct– Dec	Oct– Dec	Full year	Full year
Revenue	1,968	1,708	7,325	6,428
Real growth, %	9	11	12	7
Organic growth, %	8	10	11	6
Operating income (EBITA)1)	239	200	842	692
Operating margin, %	12.1	11.7	11.5	10.8

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 October – December 2016

Revenue for Segment USA in the fourth quarter amounted to SEK 1,968 million compared to SEK 1,708 million for the corresponding quarter the previous year. Increased revenue relating to cash management services (CMS) and increased SafePoint revenue are the main explanations for the organic growth of 8 percent (10). Revenue from SafePoint during the quarter amounted to 11 percent of the segment's total revenue. The organic growth was also positively impacted by revenue relating to the cash in transit (CIT) contract signed with the State Employees' Credit Union in North Carolina at the beginning of 2016. The real growth amounted to 9 percent (11) and includes revenue from the acquisition of the Global Logistics' operations from Dunbar Armored Inc. in 2015. Changes in fuel fees, which Loomis passes on to its customers, had a marginally positive impact on growth for the quarter, but did not significantly affect the operating income.

Revenue from CMS amounted to 32 percent (32) of the segment's total revenue.

Operating income (EBITA) for the quarter amounted to SEK 239 million compared to SEK 200 million for the corresponding period the previous year and the operating margin improved to 12.1 percent (11.7). The main explanations for the improved profitability are economies of scale due to increased CMS and SafePoint volumes as well as the ongoing efforts to improve efficiency, which continue to yield results.

January – December 2016

Revenue for full year 2016 for Segment USA amounted to SEK 7,325 million (6,428). The organic growth, which was 11 percent (6), is mainly explained by revenue relating to the CMS contract implemented incrementally in 2015, as well as increased revenue from SafePoint which amounted to 11 percent of the segment's total revenue for the full year 2016. The organic growth was also impacted by revenue from the CIT contract signed with State Employees' Credit Union in North Carolina earlier in the year. The real growth of 12 percent (7) includes revenue from the acquisition of the Global Logistics' operations from Dunbar Armored Inc. in 2015. Changes in fuel fees, which Loomis passes on to its customers, reduced growth marginally for the full year, but did not significantly affect the operating income.

Revenue from CMS for the full year 2016 amounted to 33 percent (31) of the segment's total revenue.

The operating income (EBITA) amounted to SEK 842 million (692) and the operating margin was 11.5 percent (10.8). The improvement is mainly explained by organic growth in combination with the sustained increase in the proportion of revenue from CMS and SafePoint as well as the efforts to improve efficiency, which continue to yield results.

international

	2016	2015	2016	2015
SEK m	Oct– Dec	Oct– Dec2)	Full year	Full year2)
Revenue	252	342	1,149	1,419
Real growth, %	–30	–12	–17	n/a
Organic growth, %	6	–12	0	n/a
Operating income (EBITA)2)	20	23	77	87
Operating margin, %	8.1	6.8	6.7	6.1

1) Earnings Before Interest, Taxes and Amortization of acquisition-related intangible fixed assets, acquisition-related costs and revenue, and items affecting comparability. 2) The general cargo operations were divested as of July 1, 2016. The comparative figures have not been adjusted.

Revenue and operating income – Segment International October – December 2016

Revenue for Segment International was lower than the corresponding quarter the previous year and amounted to SEK 252 million (342). The general cargo operations were divested as of 1 July 2016, which explains the lower revenue and the negative real growth of –30 percent (–12). The organic growth amounted to 6 percent (–12) and is mainly explained by increased demand for cross-border transportation of bank notes. The growth was offset to some extent by a decline in demand for transportation of gold to India, one of the world's largest gold importers. The decline is a result of an increase in import taxes on gold and jewelry introduced in India at the beginning of the year.

The operating income (EBITA) amounted to SEK 20 million (23) and the operating margin was 8.1 percent (6.8). The comparative figures for 2015 include the general cargo operations which were divested on July 1, 2016. The remaining operations have higher profitability compared with the divested operations.

January – December 2016

Revenue for the full year 2016 for the segment amounted to SEK 1,149 million compared to SEK 1,419 million the previous year. The lower revenue and the negative real growth, which amounted to –17 percent (n/a), is mainly explained by the divestment of the general cargo operations on 1 July 2016. The organic growth, which was 0 percent (n/a), was positively impacted by increased demand for cross-border bank note transportation. The growth was, however, offset by low demand for gold transportation in India for most of the year. The imported volumes to India were greatly affected by India increasing its import taxes on gold and jewelry at the beginning of 2016. The volumes to India recovered slightly towards the end of the year. Demand for transportation of precious metals and transports to and from art exhibitions was also low, which had a negative impact on business volumes.

The operating income (EBITA) amounted to SEK 77 million (87) and the operating margin for the period was 6.7 percent (6.1). The comparative figures for 2015 include the general cargo operations which were divested during the year.

Cash flow

STATEMENT OF CASH FLOWS

	2016	2015	2016	2015
SEK m	Oct– Dec	Oct– Dec	Full year	Full year
Operating income (EBITA)1)	543	479	1,890	1,703
Depreciation	286	264	1,105	1,061
Change in accounts receivable	78	53	–53	–170
Change in other working capital and other items	261	53	192	48
Cash flow from operating activities before investments	1,168	850	3,134	2,642
Investments in fixed assets, net	–301	–465	–1,120	–1,379
Cash flow from operating activities	867	384	2,013	1,264
Financial items paid and received	–49	–39	–117	–118
Income tax paid	–57	–80	–326	–341
Free cash flow	762	265	1,570	805
Cash flow effect of items affecting comparability	1	–2	138	–14
Acquisition of operations2)	–23	–15	–201	–279
Acquisition-related costs / revenue, paid / received3)	–11	–20	–17	–52
Dividend paid	–	–	–527	–451
Change in interest-bearing net debt excl. liquid funds	–172	14	–623	–258
Issuance of bonds4)	–	549	–	549
Change in commercial papers issued and other long-term borrowing	–411	–745	–361	–225
Cash flow for the period	146	46	–20	74
Liquid funds at beginning of period	507	621	654	566
Exchange rate differences in liquid funds	10	–13	28	14
Liquid funds at end of period	663	654	663	654
KEY RATIOS
Cash flow from operating activities as a % of operating income (EBITA)	160	80	107	74
Investments in relation to depreciation	1.0	1.8	1.0	1.3
Investments as a % of total revenue	6.8	11.2	6.7	8.6

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 transaction costs.

3) Refers to acquisition-related restructuring and integration costs. For the full year 2016, this item includes an escrow repayment for the acquisition of Cardtronics´ cash handling operations in the UK in 2015.

4) Bond issue according to Loomis' MTN program.

Cash flow

October – December 2016

Cash flow from operating activities was SEK 867 million (384), equivalent to 160 percent (80) of operating income (EBITA).

Net investments in fixed assets for the period in amounted to SEK 301 million (465), which can be compared to depreciation of fixed assets of SEK 286 million (264). Investments of SEK 155 million (276) were made in vehicles, safety equipment and Safe-Point during the period. In 2016 the number of SafePoint units financed through leases increased and this had a positive impact on cash flow with respect to investments in fixed assets. In addition, investments totaling SEK 91 million (140) were made in buildings, machinery and similar equipment.

January – December 2016

Cash flow from operating activities was SEK 2,013 million (1,264), equivalent to 107 percent (74) of operating income (EBITA).

Net investments in fixed assets amounted to SEK 1,120 million (1,379), which can be compared to depreciation of fixed assets of SEK 1,105 million (1,061). Investments of SEK 601 million (811) were made in vehicles, safety equipment and SafePoint during the period. In 2016 the number of SafePoint units financed through leases increased and this had a positive impact on cash flow with respect to investments in fixed assets. In addition, investments totaling SEK 318 million (412) were made in buildings, machinery and similar equipment.

The cash flow effect of items affecting comparability includes cash received for the divestment of the general cargo operations.

During the year SEK 527 million (451) was paid out in dividends to shareholders.

Capital employed and financing

CAPITAL EMPLOYED AND FINANCING

	2016	2015
SEK m	Dec 31	Dec 31
Operating capital employed	4,615	4,352
Goodwill	5,626	5,437
Acquisition-related intangible assets	261	349
Other capital employed	74	130
Capital employed	10,576	10,268
Net debt	3,929	4,425
Shareholders' equity	6,647	5,843
Key ratios
Return on capital employed, %	18	17
Return on equity, %	19	18
Equity ratio, %	45	41
Net debt/EBITDA	1.31	1.60

Capital employed

Capital employed amounted to SEK 10,576 million (10,268). Return on capital employed amounted to 18 percent (17).

Equity and financing

Shareholders' equity amounted to SEK 6,647 million (5,843). The return on shareholders' equity was 19 percent (18) and the equity ratio was 45 percent (41). Shareholders' equity was positively affected by net income for the year, but negatively affected by dividends to shareholders and by actuarial revaluations of the pension liability.

Net debt amounted to SEK 3,929 million (4,425). The net debt/ EBITDA ratio amounted to 1.31 as of December 31, 2016 (1.60).

Acquisitions and divestments

Consolidated/ divested	Segment	Acquired/ divested share1) %	Annual revenue SEK m	Number of employees	Purchase price SEK m	Goodwill SEK m	Acquisition related intangible assets SEK m	Other acquired/ divested net assets SEK m
						5,437	349
August 22	Europe	100	4342)	358	1814)	147)	6	161
		–100	4993)	149	–1945)	–93	–41	–60
						–79	–35	101
						–	–62
						268	9
						5,626	261
		as of July 1 International

1) Refers to share of votes. In acquisitions of assets and liabilities, no share of votes is indicated.

2) Annual revenue in 2015 translated to SEK million at the acquisition date. Excluding a non-recurring security fee paid by the former owners of BKS.

3) Annual revenue in 2015.

4) Purchase price plus acquired net debt (Enterprise value) amounted to around SEK 316 million at the acquisition date.

5) Purchase price adjusted for disposed liquid funds (Enterprise value) amounted to around SEK 146 million.

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

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

Acquisitions and divestments January – December 2016

In July 2016 Loomis announced that it had entered into an agreement to divest the general cargo operations to Rhenus Alpina AG. Loomis took over these operations in connection with the acquisition of VIA MAT in 2014. The divested operations, which were not part of Loomis' core business, offered cross-border cargo services by air, sea, road and rail. The operations were transferred on July 1, 2016. Revenue from the divested operations amounted to CHF 57 million (equivalent to SEK 499 million) and operating income (EBITA) was CHF 1 million (equivalent to SEK 9 million) for the 2015 financial year. The general cargo operations were reported under Segment International. A capital gain before tax of SEK 81 million was recognized as an item affecting comparability in the third quarter of 2016.

In August 2016, it was announced that Loomis' Danish subsidiary had entered into an agreement to acquire all of the shares in Bankernes Kontantservice A/S (BKS). BKS had its head office in Copenhagen, Denmark. The enterprise value at the time of the acquisition amounted to around DKK 250 million, equivalent to around SEK 316 million. BKS had annual revenue in 2015 of around DKK 340 million (excluding a non-recurring security fee paid by the former owners of BKS). Annual revenue for Loomis Denmark amounted to around DKK 92 million in 2015. The acquisition enabled Loomis in Denmark to expand its customer portfolio and to provide services to banks, retailers and other

customers. The acquired operations are reported in Segment Europe and were consolidated in Loomis' accounts as of the date the transaction was completed, August 22, 2016. As a result of integration costs the acquisition has had a marginally negative impact on Loomis' earnings per share for 2016.

Events after the end of the reporting period

On January 27, 2017, it was announced that Loomis AB had entered into an agreement to acquire 100 percent of the shares in Cobelguard CIT NV. Cobelguard conducts domestic cash handling services and is based in Ghent, Belgium. The enterprise value, i.e. purchase price plus acquired net debt, is approximately EUR 12 million, corresponding to approximately SEK 114 million. There is also an agreed possible future earn-out of maximum EUR 5 million based on the future financial performance.

Cobelguard has approximately 170 employees and annual revenue in 2016 was approximately EUR 12 million.

The business will be reported in segment Europe and consolidated into Loomis as of closing date for the transaction, January, 30. The purchase price was paid on closing. Due to acquisition related costs and integration costs the acquisition is expected to have a marginal negative impact on earnings per share of Loomis in 2017.

A preliminary acquisition analysis will be reported in the interim report for the first quarter of 2017.

Significant events and number of full-time employees

Significant events during the period

The Annual General Meeting on May 2, 2016 voted in favor of the Board's proposal to introduce an Incentive Scheme (Incentive Scheme 2016). Similar to past incentive schemes, the proposed Incentive Scheme 2016 involves two thirds of the variable remuneration being paid out in cash the year after it is earned. The remaining one third will be allotted to participants in the form of Class B shares at the beginning of 2018. The allotment of shares is contingent upon the employee still being employed by the Loomis Group on the last day of February 2018, 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 individual will retain the right to receive bonus shares. The principles for performance measurement and other general principles that already apply to existing Incentive Schemes will still apply. Loomis AB will not issue any new shares or similar instruments in connection with this Incentive Scheme. To enable Loomis to allot these shares, the AGM voted in favor of Loomis AB entering 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 350 key individuals within the Loomis Group to become shareholders in Loomis AB over time. This will increase employee commitment to Loomis' development for the benefit of all shareholders.

On May 4, 2016, Patrik Andersson assumed the position as President and CEO of Loomis.

Similar to several other companies in Spain, Loomis' Spanish subsidiary has been under investigation by the Spanish competition authority (CNMC). In November 2016 the authority informed Loomis Spain of its decision. The decision is to impose a fine of EUR 7 million on Loomis Spain for alleged market sharing. Loomis maintains that it has acted in compliance with the laws in effect and, accordingly, disagrees with the content of the decision and the fine imposed. Loomis has appealed the decision in the Spanish courts. A possible negative outcome is not expected to have a negative impact on either the Group's income or financial position.

As previously communicated by Melker Schörling AB, Ulrik Svensson left his position as CEO of Melker Schörling AB at the end of 2016/beginning of 2017. In December he therefore also left his position as a member of the Board of Loomis AB.

Number of full-time employees

The average number of full-time employees in 2016 was around 22,000 (around 21,700 for the full year 2015). Acquisitions executed as well as appointments made as a result of contracts secured have increased the number of employees, while disposals have decreased the number of employees. The ongoing efficiency improvement programs have primarily 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 could 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 so 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 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 losses on investments.

Financial risk

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

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

Factors of uncertainty

The economic trend in 2016 had a negative impact on certain geographical areas and the risk of revenue and income being affected in 2017 cannot be ruled out. Changes in general economic conditions can have various effects on the cash handling services market. These include the ratio of cash purchases to credit card purchases, changes in consumption levels, the risk of robbery and bad debt losses, as well as the staff turnover rate.

Seasonal variations

Loomis' 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 these seasonal variations is that the need for cash handling services increases during the summer vacation period, July and August, and during the holiday season at the end of the year, i.e. in November and December.

Parent Company

SUMMARY STATEMENT OF INCOME

	2016	2015
SEK m	Full year	Full year1)
Revenue	443	367
Operating income (EBIT)	279	199
Income after financial items	443	565
Net income for the year	513	699

SUMMARY BALANCE SHEET

	2016	2015
SEK m	Dec 31	Dec 31
Fixed assets	9,564	9,409
Current assets	814	1,037
Total assets	10,378	10,446
Shareholders' equity2)	4,889	4,902
Liabilities	5,490	5,544
Total shareholders' equity and liabilities	10,378	10,446

1) Comparative figures have been restated due to an effect of a changed accounting principle, RFR 2 IAS 21. The effect of this on net income for the full year 2015 is SEK – 198 million. Total shareholders' equity was not affected by the changed accounting principle as it only involved a reclassification within non-restricted equity. For further information, please refer to the description of accounting principles on page 15.

2) The number of Class B treasury shares was 53,797.

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 in 2016 was 19 (22).

The Parent Company's revenue mainly consists of license fees and other revenue from subsidiaries. The decrease in dividends from subsidiaries is the main reason for the change in income after financial items.

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.

Other

For other general critical estimates and assessments, not described in this full year report, as well as contingent liabilities, please refer to pages 61 and 87 of the 2015 Annual 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 IFRS Interpretations Committee (formerly IFRIC).

This interim report has been prepared according to IAS 34 Interim Financial Reporting. The interim report is on pages 1–32, and pages 1–16 are thus an integrated part if this financial report. 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 54–60 of the 2015 Annual Report.

The Parent Company's financial statements have been prepared in accordance with the Swedish Annual Accounts Act and RFR 2 Accounting for Legal Entities. The Swedish Financial Reporting Board has amended the standard RFR 2 Accounting for Legal

Entities. The amendment is related to IAS 21 and states that exchange rate differences arising on a monetary item that forms part of the Parent Company's net investment in a foreign subsidiary should be accounted for in the Parent Company's statement of income. Before the amendment went into effect, RFR 2 stated that these exchange rate differences should be accounted for in other comprehensive income, which was not in line with IAS 21, paragraph 32. The amendment applies to financial years beginning on January 1, 2016 or later. The amendment affects financial income and expenses in the Parent Company's statement of income. It also affects the translation reserve in the Parent Company's shareholders' equity, as exchange rate differences no longer will be accounted for on this line. The comparative year, 2015, has been restated in the Parent Company's financial statements to reflect this amendment. The amendment has no effect on the Group's financial statements where these exchange rate differences, as previously, are recorded in the translation reserve in shareholders' equity.

The most important accounting principles applying to the Parent Company can be found in Note 36 on page 92 of the 2015 Annual Report.

Outlook for 2017

The Company is not providing any forecast information for 2017.

Stockholm, February 1, 2017

Patrik Andersson President and CEO, board member

Review Report

(Translation of the Swedish original)

Auditor's review report for interim financial information in summary (interim report) prepared in accordance with IAS 34 and Chapter 9 of the Swedish Annual Accounts Act.

Introduction

We have reviewed this summarized interim financial information (full year report) for Loomis AB (publ.) as of December 31, 2016 and the twelve-month period ending as of the same date. The Board of Directors and the President are responsible for the preparation and presentation of this interim financial information in accordance with IAS 34 and the Swedish Annual Accounts Act. Our responsibility is to express a conclusion on this full year report based on our review.

Focus and scope of the 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 has a different focus and is significantly limited in scope compared to the focus and scope of 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. The conclusion expressed based on a review does not have the same level of certainty as a review based on an audit.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the full year 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, February 1, 2017

PricewaterhouseCoopers AB

Patrik Adolfson Authorized Public Accountant

Statement OF INCOME

	2016	2015	2016	2015	2014
SEK m	Oct–Dec	Oct–Dec	Full year	Full year	Full year
Revenue, continuing operations	4,305	4,082	16,485	15,391	12,345
Revenue, acquisitions	115	62	315	706	1,166
Total revenue	4,421	4,144	16,800	16,097	13,510
Production expenses	–3,210	–3,077	–12,493	–12,163	–10,283
Gross income	1,211	1,067	4,307	3,934	3,227
Selling and administration expenses	–668	–588	–2,417	–2,231	–1,857
Operating income (EBITA)1)	543	479	1,890	1,703	1,370
Amortization of acquisition-related intangible assets	–15	–16	–62	–62	–46
Acquisition-related costs and revenue	–15	–18	–562)	–792)	–19
Items affecting comparability	–	–	814)	123)	–
Operating income (EBIT)	512	445	1,852	1,575	1,306
Net financial items	–35	–30	–117	–114	–66
Income before taxes	477	415	1,735	1,461	1,240
Income tax	–135	–116	–477	–392	–330
Net income for the period5)	342	299	1,258	1,069	910
Key ratios
Real growth, %	4	5	5	7	14
Organic growth, %	4	3	5	2	3
Operating margin (EBITA), %	12.3	11.6	11.2	10.6	10.1
Tax rate, %	28	28	27	27	27
Earnings per share before dilution, SEK6)	4.55	3.97	16.73	14.21	12.10
Earnings per share after dilution, SEK	4.55	3.97	16.73	14.21	12.10

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–December 2016, refer to transaction costs of SEK –13 million (–4), restructuring costs of SEK –33 million (–36) and integration costs of SEK –10 million (–39). Transaction costs for the period January–December 2016 amount to SEK –3 million for acquisitions in progress, to SEK –10 million for completed acquisitions and to SEK 0 million for discontinued acquisitions.

3) Items affecting comparability of SEK 12 million relates to a reversal of part of the provision of SEK 59 million which was made in 2007 attributable to overtime compensation in Spain. 4) Items affecting comparability of SEK 81 million relates to a reported capital gain from the divestment of the general cargo operations.

5) Net income for the period is entirely attributable to the owners of the Parent Company.

6) For further information please refer to page 23.

Statement of comprehensive income

	2016	2015	2016	2015	2014
SEK m	Oct–Dec	Oct–Dec	Full year	Full year	Full year
Net income for the period	342	299	1,258	1,069	910
Other comprehensive income
Items that will not be reclassified to the statement of income
Actuarial gains and losses after tax	187	117	–183	46	–278
Items that may be reclassified to the statement of income
Exchange rate differences	278	–33	402	507	831
Hedging of net investments, net of tax	–98	–4	–159	–198	–348
Other comprehensive income and expenses for the period, net after tax	367	80	61	355	205
Total comprehensive income for the period1)	709	378	1,319	1,424	1,115

1) Comprehensive income for the period is entirely attributable to the owners of the Parent Company.

Balance Sheet

	2016	2015	2014
SEK m	Dec 31	Dec 31	Dec 31
ASSETS
Fixed assets
Goodwill	5,626	5,437	4,897
Acquisition-related intangible assets	261	349	363
Other intangible assets	114	118	127
Tangible fixed assets	4,709	4,305	3,813
Non-interest-bearing financial fixed assets	454	572	601
Interest-bearing financial fixed assets1)	80	78	67
Total fixed assets	11,245	10,860	9,868
Current assets
Non-interest-bearing current assets2)	2,907	2,816	2,568
Interest-bearing financial current assets1)	54	84	25
Liquid funds	663	654	566
Total current assets	3,624	3,555	3,159
TOTAL ASSETS	14,869	14,415	13,027
SHAREHOL DERS' EQUITY AND LIA BILITIE S
Shareholders' equity3)	6,647	5,843	4,907
Long-term liabilities
Interest-bearing long-term liabilities	3,972	5,168	4,140
Non-interest-bearing provisions	729	806	852
Total long-term liabilities	4,701	5,974	4,992
Current liabilities
Tax liabilities	122	141	117
Non-interest-bearing current liabilities	2,645	2,384	2,273
Interest-bearing current liabilities	754	73	738
Total current liabilities	3,521	2,598	3,128
TOTAL SHAREHOL DERS' EQUITY AND LIA BILITIE S	14,869	14,415	13,027
Key ratios
Return of shareholders' equity, %	19	18	19
Return of capital employed, %	18	17	15
Equity ratio, %	45	41	38
Net debt	3,929	4,425	4,219
Net debt/EBITDA	1.31	1.60	1.88

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) Funds in the cash processing operations are reported net in the item "Non-interest-bearing current assets". For more information, please refer to page 79 and Note 23 in the Annual report 2015.

3) Shareholders' equity is entirely attributable to the owners of the Parent Company.

Change in shareholders' equity

	2016	2015	2014
SEK m	Full year	Full year	Full year
Opening balance	5,843	4,907	4,165
Actuarial gains and losses after tax	–183	46	–278
Exchange rate differences	402	507	831
Hedging of net investments, net of tax	–159	–198	–348
Total other comprehensive income	61	355	205
Net income for the period	1,258	1,069	910
Total comprehensive income	1,319	1,424	1,115
Dividend paid to Parent Company's shareholders	–527	–451	–376
Share-related remuneration1)	11	0	4
Revaluation of option liability with non-controlling interests2)	–	–37	–
Closing balance3)	6,647	5,843	4,907

1) Including the repurchase of warrants. 2) Refers to Loomis Turkey.

3) Shareholders' equity is entirely attributable to the owners of the Parent Company.

NUMBER OF SHARES AS OF DECEMBER 31, 2016

	Votes	No. of shares		No. of votes Quota value	SEK m
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

CONTINGENT LIABILITiES

	2016	2015	2014
SEK m	Dec 31	Dec 31	Dec 31
Securities and guarantees	3,262	2,617	2,353
Other contingent liabilities	14	13	9
Total contingent liabilities	3,276	2,630	2,362

CONTINGENT LIABILITIES, PARENT COMPANY

	2016	2015	2014
SEK m	Dec 31	Dec 31	Dec 31
Guaranteed committed bank facilities	1,802	1,196	738
Other contingent liabilities	1,298	1,173	1,194
Total contingent liabilities	3,100	2,369	1,932

Statement of cash flows

	2016	2015	2016	2015	2014
SEK m	Oct–Dec	Oct–Dec	Full year	Full year	Full year
Income before taxes	477	415	1,735	1,461	1,240
Items not affecting cash flow, items affecting comparability and acquisition-related costs1)	291	267	1,117	1,119	929
Income tax paid	–57	–80	–326	–341	–298
Change in accounts receivable	78	53	–53	–170	–40
Change in other operating capital employed and other items	261	53	192	48	–12
Cash flow from operations	1,051	708	2,665	2,118	1,819
Cash flow from investment activities	–323	–480	–1,175	–1,658	–2,569
Cash flow from financing activities	–582	–182	–1,510	–386	946
Cash flow for the period	146	46	–20	74	196
Liquid funds at beginning of the period	507	621	654	566	333
Translation differences in liquid funds	10	–13	28	14	37
Liquid funds at end of period	663	654	663	654	566

1) Adjusted for the divestment of operations which is reported in investment activities.

Statement of cash flows, Additional information

	2016	2015	2016	2015	2014
SEK m	Oct–Dec	Oct–Dec	Full year	Full year	Full year
Operating income (EBITA)1)	543	479	1,890	1,703	1,370
Depreciation	286	264	1,105	1,061	875
Change in accounts receivable	78	53	–53	–170	–40
Change in other operating capital employed and other items	261	53	192	48	–12
Cash flow from operating activities before investments	1,168	850	3,134	2,642	2,194
Investments in fixed assets, net	–301	–465	–1,120	–1,379	–1,033
Cash flow from operating activities	867	384	2,013	1,264	1,161
Financial items paid and received	–49	–39	–117	–118	–61
Income tax paid	–57	–80	–326	–341	–298
Free cash flow	762	265	1,570	805	803
Cash flow effect of items affecting comparability	1	–2	138	–14	–8
Acquisition of operations2)	–23	–15	–201	–279	–1,536
Acquisition-related costs / revenue, paid / received3)	–11	–20	–17	–52	–8
Dividend paid	–	–	–527	–451	–376
Change in interest-bearing net debt excluding liquid funds	–172	14	–623	–258	–333
Issuance of bonds4)	–	549	–	549	997
Change in commercial papers issued and other long-term borrowing	–411	–745	–361	–225	6585)
Cash flow for the period	146	46	–20	74	196
Key ratios
Cash flow from operating activities as % of operating income (EBITA)	160	80	107	74	85
Investments in relation to depreciation	1.0	1.8	1.0	1.3	1.2
Investments as a % of total revenue	6.8	11.2	6.7	8.6	7.6

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 transaction costs.

3) Refers to acquisition-related restructuring and integration costs. For the period January–December 2016, this item includes an escrow repayment for the acquisition of Cardtronics' cash handling operations in the UK in 2015.

4) Bond issue according to Loomis' MTN program.

5) For the period this includes a loan from Nordic Investment Bank.

Segment overview statement of income

	Europe	USA	International	Other1)	Eliminations	Total
SEK m	Jan–Dec 2016	Jan–Dec 2016	Jan–Dec 2016	Jan–Dec 2016	Jan–Dec 2016	Jan–Dec 2016
Revenue, continuing operations	8,151	7,243	1,149	–	–58	16,485
Revenue, acquisitions	233	82	–	–	–	315
Total revenue	8,384	7,325	1,149	–	–58	16,800
Production expenses	–6,150	–5,470	–970	–	98	–12,493
Gross income	2,234	1,854	179	–	40	4,307
Selling and administrative expenses	–1,114	–1,013	–102	–149	–40	–2,417
Operating income (EBITA)2)	1,119	842	77	–149	–	1,890
Amortization of acquisition-related intangible assets	–30	–14	–18	–	–	–62
Acquisition-related costs	–52	–2	–	–2	–	–56
Items affecting comparability	–	–	813)	–	–	81
Operating income (EBIT)	1,038	826	140	–151	–	1,852

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

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

3) The item affecting comparability of SEK 81 million relates to a reported capital gain from the divestment of the general cargo operations.

Segment overview statement of income

	Europe	USA	International	Other1)	Eliminations	Total
SEK m	Jan–Dec 2015	Jan–Dec 2015	Jan–Dec 2015	Jan–Dec 2015	Jan–Dec 2015	Jan–Dec 2015
Revenue, continuing operations	8,080	6,413	965	–	–66	15,391
Revenue, acquisitions	252	15	454	–	–15	706
Total revenue	8,332	6,428	1,419	–	–82	16,097
Production expenses	–6,229	–4,858	–1,199	–	123	–12,163
Gross income	2,103	1,570	221	–	41	3,934
Selling and administrative expenses	–1,048	–878	–133	–131	–41	–2,231
Operating income (EBITA)2)	1,055	692	87	–131	–	1,703
Amortization of acquisition-related intangible assets	–24	–15	–20	–1	–	–62
Acquisition-related costs	–72	–2	0	–4	–	–79
Items affecting comparability	123)	–	–	–	–	12
Operating income (EBIT)	970	675	67	–137	–	1,575

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

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

3) The items affecting comparability of SEK 12 million relates to a reversal of part of the provision of SEK 59 million which was made in 2007 attributable to overtime compensation in Spain.

Segment overview STATEMENT OF INCOME, ADDITIONAL INFORMATION

	2016	2015	2016	2015	2014
SEK m	Oct–Dec	Oct–Dec	Full year	Full year	Full year
Europe
Revenue	2,214	2,113	8,384	8,332	7,706
Real growth, %	4	4	3	4	6
Organic growth, %	0	1	0	1	2
Operating income (EBITA)1)	324	295	1,119	1,055	944
Operating margin (EBITA), %	14.6	14.0	13.4	12.7	12.3
USA
Revenue	1,968	1,708	7,325	6,428	4,933
Real growth, %	9	11	12	7	7
Organic growth, %	8	10	11	6	7
Operating income (EBITA)1)	239	200	842	692	488
Operating margin (EBITA), %	12.1	11.7	11.5	10.8	9.9
International2)
Revenue	252	342	1,149	1,419	9184)
Real growth, %	–30	–12	–17	n/a	n/a
Organic growth, %	6	–12	0	n/a	n/a
Operating income (EBITA)1)	20	23	77	87	674)
Operating margin (EBITA), %	8.1	6.8	6.7	6.1	7.3
Other 3)
Revenue	–	–	–	–	–
Operating income (EBITA)1)	–40	–40	–149	–131	–129
Eliminations
Revenue	–13	–19	–58	–82	–47
Operating income (EBITA)1)	–	–	–	–	–
Group total
Revenue	4,421	4,144	16,800	16,097	13,510
Real growth, %	4	5	5	7	14
Organic growth, %	4	3	5	2	3
Operating income (EBITA)1)	543	479	1,890	1,703	1,370
Operating margin (EBITA), %	12.3	11.6	11.2	10.6	10.1

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

2) International is a segment which was launched in connection with Loomis' acquisition of VIA MAT Holding AG. The acquisition was consolidated on May 5, 2014. The general cargo operations were divested as of July 1, 2016. The comparative figures have not been adjusted.

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

4) For the period May 5, 2014 – December 31, 2014.

ORGANIc and real growth

	2016	2015	2016	2015	2014
SEK m	Oct–Dec	Oct–Dec	Full year	Full year	Full year
Previous year's revenue	4,144	3,714	16,097	13,510	11,364
Organic growth1)	153	99	731	306	379
Acquired revenue	115	61	315	706	1,166
Divestments	–118	–	–257	–	–
Real growth	150	160	789	1,012	1,545
Change in foreign currency	127	270	–86	1,575	601
Revenue for the period	4,421	4,144	16,800	16,097	13,510

1) For definition of organic growth, see page 30.

Key ratios

	2016	2015	2016	2015	2014
	Oct–Dec	Oct–Dec	Full year	Full year	Full year
Real growth, %	4	5	5	7	14
Organic growth, %	4	3	5	2	3
Total growth,%	7	12	4	19	19
Gross margin,%	27.4	25.7	25.6	24.4	23.9
Selling and administration expenses in % of total revenue	–15.1	–14.2	–14.4	–13.9	–13.7
Operating margin (EBITA), %	12.3	11.6	11.2	10.6	10.1
Tax rate, %	28	28	27	27	27
Net margin, %	7.7	7.2	7.5	6.6	6.7
Return of shareholders' equity, %	19	18	19	18	19
Return of capital employed, %	18	17	18	17	15
Equity ratio, %	45	41	45	41	38
Net debt (SEK m)	3,929	4,425	3,929	4,425	4,219
Net debt/EBITDA	1.31	1.60	1.31	1.60	1.88
Cash flow from operating activities as % of operating income (EBITA)	160	80	107	74	85
Investments in relation to depreciation	1.0	1.8	1.0	1.3	1.2
Investments as a % of total revenue	6.8	11.2	6,7	8.6	7.6
Earnings per share before dilution, SEK	4.551)	3.971)	16.731)	14.211)	12.102)
Earnings per share after dilution, SEK	4.55	3.97	16.73	14.21	12.10
Shareholders' equity per share after dilution, SEK	88.36	77.67	88.36	77.67	65.24
Cash flow from operations per share after dilution, SEK	13.97	9.42	35.43	28.15	24.18
Dividend per share, SEK	–	–	7.00	6.00	5.00
Number of outstanding shares (millions)	75.2	75.2	75.2	75.2	75.2
Average number of outstanding shares (millions)	75.21)	75.21)	75.21)	75.21)	75.22)

1) The number of outstanding shares, which constitutes the basis for calculation of earnings per share before dilution, is 75,226,032. The number of treasury shares amount to 53,797.

2) The average number of outstanding shares, which constitutes the basis for calculation of earnings per share before dilution, is 75,237,915. The number of treasury shares was 53,797 as of December 31, 2014.

Statement of income – by quarter

			2016				2014
SEK m	Oct–Dec	Jul–Sep	Apr–Jun	Jan– Mar	Oct–Dec	Jul–Sep	Apr–Jun	Jan– Mar	Oct–Dec
Revenue, continuing operations	4,305	4,126	4,088	3,966	4,082	4,118	3,794	3,396	3,263
Revenue, acquisitions	115	75	59	66	62	49	150	446	451
Total revenue	4,421	4,200	4,147	4,032	4,144	4,167	3,944	3,842	3,714
Production expenses	–3,210	–3,075	–3,121	–3,087	–3,077	–3,134	–3,001	–2,952	–2,798
Gross income	1,211	1,126	1,026	944	1,067	1,033	943	891	916
Selling and administration expenses	–668	–598	–582	–569	–588	–550	–547	–546	–527
Operating income (EBITA)1)	543	528	444	376	479	483	397	345	389
Amortization of acquisition-related intangible assets	–15	–15	–16	–16	–16	–17	–14	–14	–13
Acquisition-related costs and revenue2)	–15	–32	–3	–5	–18	–9	–30	–22	4
Items affecting comparability	–	814)	–	–	–	123)	–	–	–
Operating income (EBIT)	512	561	424	355	445	469	352	308	380
Net financial items	–35	–28	–26	–28	–30	–24	–32	–27	–19
Income before taxes	477	533	398	327	415	445	320	281	361
Income tax	–135	–141	–112	–88	–116	–116	–84	–76	–102
Net income for the period5)	342	391	286	239	299	329	236	205	260
Key ratios
Real growth, %	4	2	8	7	5	4	6	17	18
Organic growth, %	4	3	6	5	3	3	1	2	2
Operating margin (EBITA), %	12.3	12.6	10.7	9.3	11.6	11.6	10.1	9.0	10.5
Tax rate, %	28	27	28	27	28	26	26	27	28
Earnings per share after dilution (SEK)	4.55	5.20	3.81	3.17	3.97	4.37	3.14	2.73	3.45

1) Earnings Before Interest, Tax, 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–December 2016, refer to transaction costs of SEK –13 million (–4), restructuring costs of SEK –33 million (–36) and integration costs of SEK –10 million (–39). Transaction costs for the period January–December 2016 amount to SEK –3 million for acquisitions in progress, to SEK –10 million for completed acquisitions and to SEK 0 million for discontinued acquisitions.

3) The item affecting comparability of SEK 12 million relates to a reversal of part of the provision of SEK 59 million which was made in 2007 attributable to overtime compensation in Spain.

4) The item affecting comparability of SEK 81 million relates to a reported capital gain from the divestment of the general cargo operations.

5) Net income for the period is entirely attributable to the owners of the Parent Company.

Balance Sheet – by quarter

		2016			2015				2014
SEK m	Dec 31	Sep 30	Jun 30	Mar 31	Dec 31	Sep 30	Jun 30	Mar 31	Dec 31
ASSETS
Fixed assets
Goodwill	5,626	5,474	5,459	5,286	5,437	5,439	5,232	5,386	4,897
Acquisition-related intangible assets	261	282	318	326	349	356	375	393	363
Other intangible assets	114	115	118	113	118	115	117	124	127
Tangible fixed assets	4,709	4,582	4,294	4,138	4,305	4,148	3,995	3,965	3,813
Non interest-bearing financial fixed assets	454	653	559	519	572	594	596	638	601
Interest-bearing financial fixed assets	80	96	88	77	78	69	69	69	67
Total fixed assets	11,245	11,202	10,836	10,458	10,860	10,720	10,385	10,576	9,868
Current assets
Non interest-bearing current assets	2,907	2,954	2,987	2,906	2,816	2,962	2,886	2,850	2,568
Interest-bearing financial current assets	54	26	32	98	84	66	78	20	25
Liquid funds	663	507	700	653	654	621	808	686	566
Total current assets	3,624	3,487	3,719	3,657	3,555	3,648	3,772	3,556	3,159
TOTAL ASSETS	14,869	14,690	14,555	14,115	14,415	14,368	14,157	14,132	13,027
SHAREHOL DERS' EQUITY AND LIA BILITIE S
Shareholders' equity1)	6,647	5,926	5,633	5,791	5,843	5,495	5,154	5,485	4,907
Long-term liabilities
Interest-bearing long-term liabilities	3,972	5,141	5,499	5,120	5,168	5,519	5,057	4,002	4,140
Non interest-bearing provisions	729	768	752	737	806	783	806	810	852
Total long-term liabilities	4,701	5,910	6,251	5,857	5,974	6,302	5,863	4,811	4,992
Current liabilities
Tax liabilities	122	117	136	145	141	99	135	125	117
Non interest-bearing current liabilities	2,645	2,464	2,397	2,220	2,384	2,395	2,295	2,335	2,273
Interest-bearing current liabilities	754	273	138	103	73	78	709	1,375	738
Total current liabilities	3,521	2,854	2,672	2,467	2,598	2,572	3,140	3,836	3,128
TOTAL SHAREHOL DERS' EQUITY AND LIA BILITIE S	14,869	14,690	14,555	14,115	14,415	14,368	14,157	14,132	13,027
Key ratios
Return of shareholders' equity, %	19	21	20	19	18	19	19	18	19
Return of capital employed, %	18	17	17	17	17	16	15	15	15
Equity ratio, %	45	40	39	41	41	38	36	39	38
Net debt	3,929	4,784	4,817	4,395	4,425	4,842	4,811	4,602	4,219
Net debt/EBITDA	1.31	1.65	1.68	1.57	1.60	1.83	1.91	1.91	1.88

1) Shareholders' equity is entirely attributable to the owners of the Parent Company.

Cash flow – By quarter

		2016 2015 2014
SEK m	Oct–Dec			Jul–Sep Apr–Jun Jan– Mar Oct–Dec			Jul–Sep Apr–Jun Jan– Mar		Oct–Dec
Additional information
Operating income (EBITA)1)	543	528	444	376	479	483	397	345	389
Depreciation	286	278	269	271	264	273	266	259	231
Change in accounts receivable	78	–74	–43	–14	53	–101	–141	19	61
Change in other operating capital employed and other items	261	87	164	–320	53	70	69	–144	128
Cash flow from operating activities before investments	1,168	818	834	313	850	725	589	479	809
Investments in fixed assets, net	–301	–282	–321	–217	–465	–346	–383	–184	–430
Cash flow from operating activities	867	536	513	96	384	379	206	295	379
Financial items paid and received	–49	–23	–24	–22	–39	–22	–26	–30	–15
Income tax paid	–57	–99	–118	–53	–80	–112	–77	–71	–94
Free cash flow	762	414	372	22	265	245	102	193	270
Cash flow effect of items affecting comparability	1	138	0	0	–2	–2	–9	–1	–2
Acquisition of operations2)	–23	–175	–2	–1	–15	–239	–4	–21	–3
Acquisition-related costs / revenue, paid /received3)	–11	4	–3	–7	–20	–12	–14	–6	–4
Dividend paid	–	–	–527	–	–	–	–451	–	–
Change in interest-bearing net debt excl. liquid funds	–172	–435	–59	43	14	–27	–7	–238	–1,796
Issuance of bonds4)	–	–	–	–	549	–	–	–	997
Change in commercial papers issued and other long-term borrowing	–411	–150	250	–50	–745	–149	519	150	5595)
Cash flow for the period	146	–204	31	7	46	–185	136	77	21
Key ratios
Cash flow from operating activities as % of operating income (EBITA)	160	102	116	26	80	78	52	85	97
Investments in relation to depreciation	1.0	1.0	1.2	0.8	1.8	1.3	1.4	0.7	1.9
Investments as a % of total revenue	6.8	6.7	7.7	5.4	11.2	8.3	9.7	4.8	11.6

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 transaction costs.

3) Refers to acquisition-related restructuring and integration costs. For the period July–September 2016, this item includes an escrow repayment for the acquisition of Cardtronics' cash handling operations in the UK in 2015.

4) Bond issue according to Loomis' MTN program.

5) For the period this includes a loan from Nordic Investment Bank.

Segment overview STATEMENT OF INCOME – By quarter

		2016				2015
SEK m	Oct–Dec	Jul–Sep	Apr–Jun	Jan– Mar	Oct–Dec	Jul–Sep	Apr–Jun	Jan– Mar	Oct–Dec
Europe
Revenue	2,214	2,162	2,035	1,974	2,113	2,179	2,058	1,983	2,017
Real growth, %	4	2	2	3	4	3	3	6	6
Organic growth, %	0	0	1	1	1	1	1	0	0
Operating income (EBITA) 1)	324	335	262	199	295	312	251	198	264
Operating margin (EBITA), %	14.6	15.5	12.9	10.1	14.0	14.3	12.2	10.0	13.1
USA
Revenue	1,968	1,826	1,774	1,757	1,708	1,637	1,566	1,516	1,349
Real growth, %	9	10	14	16	11	7	5	4	6
Organic growth, %	8	9	13	14	10	7	5	4	6
Operating income (EBITA) 1)	239	208	199	197	200	175	160	156	133
Operating margin (EBITA), %	12.1	11.4	11.2	11.2	11.7	10.7	10.2	10.3	9.8
International2)
Revenue	252	231	348	318	342	372	340	365	364
Real growth, %	–30	–38	6	–9	–12	1	n/a	n/a	n/a
Organic growth, %	6	–2	6	–9	–12	1	n/a	n/a	n/a
Operating income (EBITA) 1)	20	22	19	16	23	26	16	22	35
Operating margin (EBITA), %	8.1	9.3	5.5	5.1	6.8	6.9	4.7	6.0	9.5
Other 3)
Revenue	–	–	–	–	–	–	–	–	–
Operating income (EBITA) 1)	–40	–36	–36	–36	–40	–30	–30	–31	–42
Eliminations
Revenue	–13	–19	–10	–17	–19	–21	–21	–21	–16
Operating income (EBITA) 1)	–	–	–	–	–	–	–	–	–
Group total
Revenue	4,421	4,200	4,147	4,032	4,144	4,167	3,944	3,842	3,714
Real growth, %	4	2	8	7	5	4	6	17	18
Organic growth, %	4	3	6	5	3	3	1	2	2
Operating income (EBITA) 1)	543	528	444	376	479	483	397	345	389
Operating margin (EBITA), %	12.3	12.6	10.7	9.3	11.6	11.6	10.1	9.0	10.5

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

2) International is a segment which was launched in connection with Loomis' acquisition of VIA MAT Holding AG. The acquisition was consolidated on May 5, 2014. The general cargo operations were divested as of July 1, 2016. The comparative figures have not been adjusted.

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

SEGMENT OVERVIEW BALANCE SHEET – By quarter

		2016			2015				2014
SEK m	Dec 31	Sep 30	Jun 30	Mar 31	Dec 31	Sep 30	Jun 30	Mar 31	Dec 31
Europe
Assets	5,701	5,780	5,330	5,266	5,441	5,551	5,132	5,125	5,039
Liabilities	2,365	2,540	2,159	2,012	2,055	2,207	2,135	2,195	2,105
USA
Assets	6,719	6,482	6,371	5,996	6,117	5,938	5,730	5,776	5,118
Liabilities	733	574	622	459	626	553	542	544	566
International1)
Assets	1,241	1,242	1,460	1,427	1,424	1,478	1,642	1,691	1,513
Liabilities	216	236	398	353	311	388	388	413	343
Other 2)
Assets	1,208	1,186	1,394	1,426	1,433	1,401	1,653	1,540	1,357
Liabilities	4,908	5,414	5,743	5,500	5,580	5,725	5,938	5,495	5,106
Shareholder's equity3)	6,647	5,926	5,633	5,791	5,843	5,495	5,154	5,485	4,907
Group total
Assets	14,869	14,690	14,555	14,115	14,415	14,368	14,157	14,132	13,027
Liabilities	8,222	8,764	8,922	8,324	8,572	8,873	9,003	8,647	8,120
Shareholder's equity3)	6,647	5,926	5,633	5,791	5,843	5,495	5,154	5,485	4,907

1) International is a segment which was launched in connection with Loomis' acquisition of VIA MAT Holding AG. The acquisition was consolidated on May 5, 2014. The general cargo operations were divested as of July 1, 2016. The comparative figures have not been adjusted.

2) Other consists mainly of Group assets and liabilities that cannot be divided by segment.

3) Shareholders' equity is entirely attributable to the owners of the Parent Company.

Quarterly data

	2016			2015				2014
SEK m	Oct–Dec	Jul–Sep	Apr–Jun	Jan– Mar	Oct–Dec	Jul–Sep	Apr–Jun	Jan– Mar	Oct–Dec
Cash flow
Operations	1,051	692	690	232	708	577	463	370	694
Investment activities	–323	–311	–324	–217	–480	–585	–387	–205	–433
Financing activities	–582	–585	–335	–7	–182	–176	61	–88	–240
Cash flow for the period	146	–204	31	7	46	–185	136	77	21
Capital employed and financing
Operating capital employed	4,615	4,806	4,526	4,477	4,352	4,317	4,145	4,051	3,729
Goodwill	5,626	5,474	5,459	5,286	5,437	5,439	5,232	5,386	4,897
Acquisition-related intangible assets	261	282	318	326	349	356	375	393	363
Other capital employed	74	148	146	96	130	225	213	257	137
Capital employed	10,576	10,710	10,450	10,186	10,268	10,336	9,965	10,087	9,127
Net debt	3,929	4,784	4,817	4,395	4,425	4,842	4,811	4,602	4,219
Shareholders' equity1)	6,647	5,926	5,633	5,791	5,843	5,495	5,154	5,485	4,907
Key ratios
Return of shareholders' equity, %	19	21	20	19	18	19	19	18	19
Return of capital employed, %	18	17	17	17	17	16	15	15	15
Equity ratio, %	45	40	39	41	41	38	36	39	38
Net debt/EBITDA	1.31	1.65	1.68	1.57	1.60	1.83	1.91	1.91	1.88

1) Shareholders' equity is entirely attributable to the owners of the Parent Company.

Key ratios – By quarter

			2016		2015				2014
	Oct–Dec	Jul–Sep	Apr–Jun	Jan– Mar	Oct–Dec	Jul–Sep	Apr–Jun	Jan– Mar	Oct–Dec
Real growth, %	4	2	8	7	5	4	6	17	18
Organic growth, %	4	3	6	5	3	3	1	2	2
Total growth, %	7	1	5	5	12	16	19	34	27
Gross margin,%	27.4	26.8	24.7	23.4	25.7	24.8	23.9	23.2	24.7
Selling and administration expenses in % of total revenue	–15.1	–14.2	–14.0	–14.1	–14.2	–13.2	–13.9	–14.2	–14.2
Operating margin (EBITA), %	12.3	12.6	10.7	9.3	11.6	11.6	10.1	9.0	10.5
Tax rate, %	28	27	28	27	28	26	26	27	28
Net margin, %	7.7	9.3	6.9	5.9	7.2	7.9	6.0	5.3	7.0
Return of shareholders' equity, %	19	21	20	19	18	19	19	18	19
Return of capital employed, %	18	17	17	17	17	16	15	15	15
Equity ratio, %	45	40	39	41	41	38	36	39	38
Net debt (SEK m)	3,929	4,784	4,817	4,395	4,425	4,842	4,811	4,602	4,219
Net debt/EBITDA	1.31	1.65	1.68	1.57	1.60	1.83	1.91	1.91	1.88
Cash flow from operating activities as % of operating income (EBITA)	160	102	116	26	80	78	52	85	97
Investments in relation to depreciation	1.0	1.0	1.2	0.8	1.8	1.3	1.4	0.7	1.9
Investments as a % of total revenue	6.8	6.7	7.7	5.4	11.2	8.3	9.7	4.8	11.6
Earnings per share before dilution, SEK1)	4.55	5.20	3.81	3.17	3.97	4.37	3.14	2.73	3.45
Earnings per share after dilution, SEK	4.55	5.20	3.81	3.17	3.97	4.37	3.14	2.73	3.45
Shareholders' equity per share after dilution, SEK	88.36	78.77	74.88	76.98	77.67	73.04	68.51	72.92	65.24
Cash flow from operations per share after dilu tion, SEK	13.97	9.20	9.17	3.08	9.42	7.66	6.15	4.91	9.22
Dividend per share, SEK	–	–	7.00	–	–	–	6.00	–	–
Number of outstanding shares (millions)	75.2	75.2	75.2	75.2	75.2	75.2	75.2	75.2	75.2
Average number of outstanding shares (millions)1)	75.2	75.2	75.2	75.2	75.2	75.2	75.2	75.2	75.2

1) The number of outstanding shares, which constitutes the basis for calculation of earnings per share before dilution, is 75,226,032. The number of treasury shares amount to 53,797 shares.

Definitions

Use of key ratios not defined in IFRS

The Loomis Group's accounts are prepared in accordance with IFRS. See page 15 for more information on accounting principles. Only a few key ratios are defined in IFRS. As of the second quarter 2016, Loomis is applying the Alternative Performance Measures issued by ESMA (European Securities and Markets Authority). Briefly, an alternative key ratio is a financial measurement of historical or future earnings development, financial position or cash flow, not defined or specified in IFRS. To assist Group Management and other stakeholders in their analysis of the

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, Acquisition-related 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:

Oct–Dec 2016: 342/75,226,032 x 1,000,000 = 4.55 Oct–Dec 2015: 299/75,226,032 x 1,000,000 = 3.97 Jan –Dec 2016: 1,258/75,226,032 x 1,000,000 = 16.73 Jan –Dec 2015: 1,069/75,226,032 x 1,000,000 = 14.21 Group's performance, Loomis is reporting certain key ratios not defined by IFRS. Group Management believes that this information will facilitate an analysis of the Group's performance. This data supplements the IFRS information and does not replace the key ratios defined in IFRS. Loomis' definitions of measurements not defined in IFRS may differ from definitions used by other companies. All of Loomis' definitions are included below. Key ratio calculations that cannot be checked against items in the statement of income and balance sheet can be found on page 23.

Earnings per share after dilution

Calculation for:

Oct–Dec 2016: 342/75,226,032 x 1,000,000 = 4.55 Oct–Dec 2015: 299/75,226,032 x 1,000,000 = 3.97 Jan –Dec 2016: 1,258/75,226,032 x 1,000,000 = 16.73 Jan –Dec 2015: 1,069/75,226,032 x 1,000,000 = 14.21

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 as a percentage of the closing balance of shareholders' equity.

Return on capital employed, %

Operating income (EBITA) 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.

n/a

Not applicable.

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

Managing cash in society.

Financial targets

• Revenue: SEK 17 billion by 2017.
• Operating margin (EBITA): 10–12 percent.
• Net debt/EBITDA: Not exceeding 3.0.
• Dividend: 40–60 percent of net income.

Operations

Loomis offers secure and effective comprehensive solutions for the distribution, handling, storage and recycling of cash and other valuables. Loomis' customers are banks, retailers and other companies. Loomis operates through an international network of around 400 branches in more than 20 countries. Loomis employs around 24,000 people and had revenue in 2016 of SEK 16.8 billion. Loomis is listed on Nasdaq Stockholm Large-Cap list.

Information meeting

An information meeting will be held on February 1, 2017 at 09:30 a.m. (CET). This meeting will be held at Sveavägen 20, 9th floor, Stockholm.

To listen to the meeting proceedings by telephone (and to participate in the question and answer session), please call: UK: 08444933800 (LocalCall) or +44 (0) 1452 555566 (International) USA: 16315107498 (LocalCall) Sweden: 08-50336434 (LocalCall)

Provide conference ID number: Loomis, 51378737.

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

A recording of the webcast will be published at www.loomis.com/investors/reports&presentations after the information meeting, and a telephone recording of the meeting will be available until February 15, 2017 at 12:30 p.m. CET on number: UK: 08443386600 (LocalCall) or +44 (0) 1452550000 (International), USA: 1 (866) 247-4222, Sweden: 08-50635742 (LocalCall).

Conference ID number: 51378737.

Future reporting and meetings

Interim report	January – March	May 4, 2017
Interim report	January – June	July 27, 2017 (New date)
Interim report	January – September	November 8, 2017

Loomis' Annual General Meeting will be held on Thursday May 4, 2017 in Stockholm. The annual report for 2016 will be available at www.loomis.com in April 2017.

For further information

Patrik Andersson, President and CEO +46 76 111 34 00, e-mail: patrik.andersson@loomis.com Anders Haker, CFO +46 70 810 85 59, e-mail: anders.haker@loomis.com Questions can also be sent to: ir@loomis.com. Refer also to the Loomis website: www.loomis.com

This information is information that Loomis AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 8.00 a.m. CET on February 1, 2017.

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