Loomis — Interim / Quarterly Report 2014

May 6, 2014

January–March 2014

Managing cash in society.

January – March 2014

• n Revenue SEK 2,877 million (2,706). Real growth 4 percent (–1) and organic growth 4 percent (–2).
• n Operating income (EBITA)1) SEK 242 million (218) and operating margin 8.4 percent (8.0).
• n Income before taxes SEK 210 million (234) and income after taxes SEK 151 million (165).
• n Earnings per share before dilution SEK 2.00 (2.24) and SEK 2.00 (2.19) after dilution.
• n Cash flow from operating activities SEK 11 million (57), equivalent to 5 percent (26) of operating income (EBITA).

1) Earnings before interest, taxes and amortization of acquisition-related intangible fixed assets, acquisition-related costs and revenue, and items affecting comparability.

Financial goals

0 25 50

2010 2011 2012 2013

Cash flow from operating activities in percent of EBITA

Annual dividend

40–60 % of the Group's net income

^*Dividend proposal for the 2014 Annual General Meeting.

This is a translation of the original Swedish interim report. In the event of differences between the English translation and the Swedish original, the Swedish interim report shall prevail.

Comments by the President and CEO

The improvement in operating income confirms my conviction that we will reach our most important financial goal, an operating margin of 10 percent for the full year 2014.

I am happy to announce that the growth we saw at the end of 2013 has continued into 2014 and that our operating income continues to improve. Our organic growth for the first quarter of 2014 was 4 percent (–2) and our operating margin was 8.4 percent (8.0). The improvement in operating income confirms my conviction that we will reach our most important financial goal, an operating margin of 10 percent for the full year 2014. This margin goal which we set at the end of 2010 excludes the recently announced acquisition of VIA MAT.

The Group's operating income (EBITA) amounted to SEK 242 million (218). The improvement is mainly attributable to an increase in the proportion of cash management services (CMS), the successful implementation of the contracts that were signed in 2013, and our continuous focus on improving efficiency in our operations.

Operations in Europe grew organically by 3 percent (–3). The growth came mainly from new contracts such as the previously announced DNB contract in Norway. Operating income (EBITA) amounted to SEK 160 million (148) and the operating margin was 9.1 percent (9.0). Most of the countries in Europe had improved profitability, although the increased cost of risk had a negative impact on earnings in Sweden. The long-term trend for the Group's total cost of risk remains positive even though earnings for an individual quarter may be affected by the cost of risk to a greater or lesser extent.

Organic growth in the USA amounted to 5 percent (0), the highest growth figure for the segment since the Company was listed on the stock exchange in December 2008. The growth is mainly explained by the successful implementation of the major cash management services assignment that was announced in 2013 and by increased revenue from Loomis SafePoint®. The operating income (EBITA) amounted to SEK 108 million (93) and the operating margin was 9.6 percent (8.7). The margin improvement was mainly the result of an increased proportion of revenues from cash management services and the ongoing efficiency improvements which continue to yield results.

Strategic acquisition after the end of the quarter

On April 4, 2014 we announced the acquisition of the Swiss VIA MAT Group, one of the world's leading international valuables logistics companies. This is the largest acquisition for Loomis since the listing on the stock exchange. It expands our service offering which, up to now, has consisted of Cash In Transit (CIT) and Cash Management Services (CMS), to now also include International Services. International Services consist of cross border transportation of cash and precious metals, storage of valuables and general logistics solutions. The acquisition also makes Loomis the market leader in cash handling in the Swiss market.

The acquisition gives Loomis a strong offering in international services, an area in which we have so far only had a limited offering. It also creates a platform for continued growth and we are now working intensely on integration planning. VIA MAT currently has an operating margin of around 6 percent, which is lower than Loomis' margin in existing operations. However, we believe that over time there is good potential to achieve margins in line with those in the rest of the Group.

In summary, our business developed well during the quarter, both in terms of growth and operating margin. It is also gratifying that we can now, through the VIA MAT acquisition expand our service offering to our customers. The acquisition will help us strengthen our position as one of the world's leading cash handling companies and I look forward to working with VIA MAT's management team and other employees on a successful integration and on further developing our new segment, International Services.

Jarl Dahlfors President and CEO

The Group and the segments in brief

	2014	2013	2013	R12
SEK m	Jan–Mar	Jan–Mar	Full year
Group total
Revenue	2,877	2,706	11,364	11,535
Real growth, %	4	–1	2	3
Organic growth, %	4	–2	2	3
Operating income (EBITA)1)	242	218	1,099	1,124
Operating margin, %	8.4	8.0	9.7	9.7
Earnings per share before dilution, SEK	2.002)	2.243)	9.834)	9.595)
Earnings per share after dilution, SEK	2.00	2.19	9.78	9.59
Cash flow from operating activities as a % of operating income (EBITA)	5	26	87	81
Segment
Europe
Revenue	1,753	1,641	7,005	7,116
Real growth, %	4	–1	2	3
Organic growth, %	3	–3	2	3
Operating income (EBITA)1)	160	148	794	806
Operating margin, %	9.1	9.0	11.3	11.3
USA
Revenue	1,124	1,065	4,359	4,419
Real growth, %	5	0	2	3
Organic growth, %	5	0	2	3
Operating income (EBITA)1)	108	93	414	429
Operating margin, %	9.6	8.7	9.5	9.7

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

2) The average number of outstanding shares, which constitutes the basis for calculation of earnings per share before dilution, is 75,273,755.

3) 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. 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, 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 75,266,277

Operating margin (EBITA)

Operating margin (EBITA)

Operating margin (EBITA) per quarter

Revenue and income

	2014	2013	2013	R 12
SEK m	Jan–Mar	Jan–Mar	Full year
Revenue	2,877	2,706	11,364	11,535
Operating income (EBITA)1)	242	218	1,099	1,124
Operating income (EBIT)	223	247	1,085	1,061
Income before taxes	210	234	1,038	1,014
Net income for the period	151	165	736	721
KEY RATIOS
Real growth, %	4	–1	2	3
Organic growth, %	4	–2	2	3
Operating margin, %	8.4	8.0	9.7	9.7
Tax rate, %	28	29	29	29
Earnings per share after dilution, SEK	2.00	2.19	9.78	9.59

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

January – March 2014

Revenue for the first quarter amounted to SEK 2,877 million (2,706) and both real growth and organic growth amounted to 4 percent (–1 and –2 respectively). The growth is mainly explained by the new contracts that went into effect in Europe and the USA in 2013.

Operating income (EBITA) amounted to SEK 242 million (218) and the operating margin was 8.4 percent (8.0). At comparable exchange rates the improvement was SEK 17 million. The improved profitability is mainly explained by strong organic growth within Cash Management Services (CMS) as well as by the contiuous efforts to improve efficiency which continue to yield results.

The operating income (EBIT) for the quarter amounted to SEK 223 million (247) and includes acquisition-related costs of SEK –12 million (36). The acquisition-related costs are mainly transaction costs relating to the acquisition of VIA MAT. The acquisition-related item reported in the first quarter of 2013 included a repayment installment of SEK 41 million of the purchase price for Pendum's cash handling operations.

Income before taxes of SEK 210 million (234) includes a net financial expense of SEK –13 million (–13).

The tax expense for the quarter amounted to SEK 59 million (69) and represents a tax rate of 28 percent (29).

Earnings per share after dilution amounted to SEK 2.00 (2.19). Adjusted for the repayment installment of SEK 41 million of the purchase price for Pendum's cash handling operations, the earnings per share after dilution amounted to SEK 1.86 for the first quarter of 2013.

The segments

LOOMIS EUROPE

	2014	2013	2013	R 12
SEK m	Jan–Mar	Jan–Mar	Full year
Revenue	1,753	1,641	7,005	7,116
Real growth %	4	–1	2	3
Organic growth, %	3	–3	2	3
Operating income (EBITA)1)	160	148	794	806
Operating margin, %	9.1	9.0	11.3	11.3

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

LOOMIS USA

	2014	2013	2013	R 12
SEK m	Jan–Mar	Jan–Mar	Full year
Revenue	1,124	1,065	4,359	4,419
Real growth %	5	0	2	3
Organic growth, %	5	0	2	3
Operating income (EBITA)1)	108	93	414	429
Operating margin, %	9.6	8.7	9.5	9.7

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 – Europe

January – March 2014

Revenue for the period amounted to SEK 1,753 million (1,641). The organic growth of 3 percent (–3) is mainly explained by increased revenue from the contract with DNB in Norway which went into effect in the third quarter of 2013. The real growth of 4 percent (–1) includes revenue attributable to the acquisition that took place in Slovakia in December 2013.

Operating income (EBITA) amounted to SEK 160 million (148) and the operating margin was 9.1 percent (9.0). The contract with DNB which is now integrated has had a positive impact on operating income and several of the European operations have enjoyed positive earnings growth due to the continuous and group-wide efforts to improve efficiency. The positive earnings growth was partially offset by an increased cost of risk in Sweden.

Revenue and operating income – USA January – March 2014

Revenue in the USA amounted to SEK 1,124 million (1,065) and both real growth and organic growth amounted to 5 percent (0 and 0 respectively). The growth is mainly explained by revenue from the CMS contract signed in 2013 with one of the biggest banks in the USA as well as increased revenue from Loomis SafePoint®.

Operating income (EBITA) for the quarter amounted to SEK 108 million (93) and the operating margin was 9.6 percent (8.7). The positive development is mainly explained by a continuing increase in the proportion of revenue from CMS as well as continuous efforts to improve efficiency, which continue to yield results. The proportion of revenue from CMS amounted to 27 percent (26) of the segment's total revenue for the quarter.

Cash flow

STATEMENT OF CASH FLOWS

	2014	2013	2013	R 12
SEK m	Jan–Mar	Jan–Mar	Full year
Operating income (EBITA)1)	242	218	1,099	1,124
Depreciation	201	186	758	773
Change in accounts receivable	–45	–5	6	–34
Change in other operating capital employed and other items	–236	–256	–186	–166
Cash flow from operating activities before investments	162	143	1,677	1,696
Investments in fixed assets, net	–150	–86	–720	–785
Cash flow from operating activities	11	57	957	911
Financial items paid and received	–17	–15	–49	–50
Income tax paid	–32	–31	–319	–319
Free cash flow	–37	11	590	542
Cash flow effect of items affecting comparability	–1	–0	–7	–8
Acquisition of operations2)	–2	–2	–29	–30
Acquisition-related costs and revenue, paid and received3)	–2	41	40	–2
Dividend paid	–	–	–338	–338
Repayment of leasing liabilities	–11	–9	–40	–41
Change in interest-bearing net debt excl. liquid funds	22	201	–512	–691
Change in commercial paper issued	–	–	248	248
Cash flow for the period	–31	242	–48	–320
Liquid funds at beginning of the period	333	380	380	620
Translation differences in liquid funds	–1	–3	1	3
Liquid funds at end of the period	302	620	333	302
KEY RATIOS
Cash flow from operations as a % of operating income (EBITA)	5	26	87	81
Investments in relation to depreciation	0.7	0.5	1.0	1.0
Investments as a % of total revenue	5.2	3.2	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

January – March 2014

Cash flow from operating activities of SEK 11 million (57) corresponded to 5 percent (26) of operating income (EBITA). Like the previous year, the cash flow effect of the change in other operating capital employed and other items was negative in the first quarter. This item is subject to seasonal variations and, over the past few years, the effects on cash flow of the changes in operating working capital during the latter part of the year have been positive. Increased investments compared to the same period the previous year, as well as higher accounts receivable due to increased revenue, are the main explanations for the lower cash flow.

Net investments in fixed assets during the period amounted to SEK 150 million (86), which can be compared to depreciation of fixed assets of SEK 201 million (186). During the period, SEK 64 million (37) was invested in vehicles and security equipment, which are the two main categories of recurring investments.

Capital employed and financing

CAPITAL EMPLOYED AND FINANCING

	2014	2013	2013	2012
MSEK	31 Mar	31 Mar	31 Dec	31 Dec
Operating capital employed	3,057	2,685	2,834	2,631
Goodwill	3,344	3,291	3,346	3,317
Acquisition-related intangible assets	119	144	126	153
Other operating capital	–26	–87	–16	–31
Capital employed	6,494	6,033	6,290	6,070
Net debt	2,197	2,153	2,125	2,475
Shareholders' equity	4,297	3,880	4,165	3,595
Key ratios
Return of shareholders' equity, %	17	17	17	17
Return of capital employed, %	17	18	18	18
Equity ratio, %	46	43	45	40
Net debt/EBITDA	1.16	1.23	1.14	1.43

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

Capital employed

Capital employed amounted to SEK 6,494 million (6,290 as of December 31, 2013). Return on capital employed amounted to 17 percent (17 as of December 31, 2013).

Shareholders' equity and financing

Shareholders' equity amounted to SEK 4,297 million (4,165 as of December 31, 2013). The return on shareholders' equity was 17 percent (18 as of December 31, 2013) and the equity ratio was 46 percent (45 as of December 31, 2013).

Net debt amounted to SEK 2,197 million (2,125 as of December 31, 2013) and the net debt/EBITDA amounted to 1.16 (1.14 as of December 31, 2013).

Significant events and number of full-time employees

Significant events during the period

The Board of Directors has decided to propose that a resolution be passed at the 2014 Annual General Meeting regarding an incentive scheme (Incentive Scheme 2014). Similar to Incentive Scheme 2013, the proposed scheme will involve two thirds of the variable remuneration being paid out in cash after the year it is earned. The remaining one third will be in the form of Class B shares in Loomis AB which will be allotted to the participants 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 as a result of this Incentive Scheme. To enable Loomis to allot these shares, it is proposed 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.

Significant events after the end of the reporting period

In April 2014 it was announced that Loomis had signed an agreement on the acquisition of all of the shares in the Swiss group VIA MAT Holding AG ("VIA MAT"). The enterprise value is approxmately CHF 200 million, corresponding to approximately SEK 1,450 million.

The acquisition enables Loomis to expand its service offering beyond the existing service offering, Cash In Transit and Cash Management Services, to include International Services as well. 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 will give Loomis access to several new geographies and add new growth opportunities. The expected annual revenue will be approximately CHF 290 million, of which approximately CHF 240 million will come from International Services and approximately CHF 50 million from domestic cash handling operations in Switzerland.

The acquisition is expected to have a marginally positive impact on Loomis' earnings per share for 2014.

The operations were taken over on May 5, 2014 and will be consolidated into Loomis as of the same date.

A preliminary acquisition analysis will be issued in the interim report for January-June 2014.

In May 2014 Loomis AB signed a five year loan, a Multi-Currency Revolving Credit Facility, of USD 100 million. The facility will be used for refinancing an existing facility which matures in 2014 and for general business purposes.

Number of full-time employees

The average number of full-time employees for the rolling twelve-month period was 19,576 (19,442 for the full year 2013). The acquisition which took place in 2013 as well as the contracts secured have resulted in an increase in the number of employees. The ongoing cost-saving programs have, however, 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 can 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 the Company 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 risk 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 quarter 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. November – December.

Parent Company

SUMMARY STATEMENT OF INCOME

	2014	2013	2013
SEK m	Jan–Mar	Jan–Mar	Full year
Gross profit	75	74	292
Operating income (EBIT)	42	48	154
Income after financial items	66	56	609
Net income for the period	56	44	494

SUMMARY BALANCE SHEET

	2014	2013	2013
SEK m	31 Mar	31 Mar	31 Dec
Fixed assets	7,441	7,324	7,426
Current assets	694	827	541
Total assets	8,135	8,151	7,967
Shareholders' equity	4,894	4,707	4,832
Liabilities	3,241	3,444	3,134
Total shareholders' equity and liabilities	8,135	8,151	7,967

1) As of March 31, 2014 there were 53,797 Class B treasury shares.

2) As of March 31, 2013 there were 117,813 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 quarter 2014 was 19 (17).

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 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.

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, May 6, 2014

Jarl Dahlfors President and CEO

This report has not been subject to a review by the Company's auditors.

STATEMENT OF INCOME

	2014	2013	2013	2012	R12
SEK m	Jan–Mar	Jan–Mar	Full year	Full year
Revenue, continuing operations	2,864	2,668	11,321	10,983	11,516
Revenue, acquisitions	13	38	43	376	19
Total revenue	2,877	2,706	11,364	11,360	11,535
Production expenses	–2,245	–2,111	–8,730	–8,781	–8,865
Gross income	632	595	2,634	2,579	2,670
Selling and administration expenses	–390	–378	–1,534	–1,560	–1,547
Operating income (EBITA)1)	242	218	1,099	1,019	1,124
Amortization of acquisition-related intangible assets	–7	–7	–28	–28	–28
Acquisition-related costs and revenue2)	–12	36	28	–18	–20
Items affecting comparability	–	–	–143)	164)	–14
Operating income (EBIT)	223	247	1,085	988	1,061
Net financial items	–13	–13	–47	–56	–47
Income before taxes	210	234	1,038	932	1,014
Income tax	–59	–69	–302	–282	–293
Net income for the period5)	151	165	736	650	721
KEY RATIOS
Real growth, %	4	–1	2	3	3
Organic growth, %	4	–2	2	0	3
Operating margin (EBITA), %	8.4	8.0	9.7	9.0	9.7
Tax rate, %	28	29	29	30	29
Earnings per share before dilution, SEK6)	2.00	2.24	9.83	8.90	9.59
Earnings per share after dilution, SEK	2.00	2.19	9.78	8.60	9.59

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 - March 2014, refer to transaction costs of SEK –9 million (–5), restructuring costs of SEK –2 million (0) and integration costs of SEK –1 million (0) 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 - March 2014 amount to SEK –9 million for acquisitions in progress, to SEK 0 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) Net income for the period is entirely attributable to the owners of the Parent Company.

6) For further information please refer to page 14.

STATEMENT OF COMPREHENSIVE INCOME

	2014	2013	2013	2012	R12
SEK m	Jan–Mar	Jan–Mar	Full year	Full year
Net income for the period	151	165	736	650	721
Other comprehensive income
Items that will not be reclassified to the statement of income
Actuarial gains and losses after tax	–12	10	–9	–34	–31
Items that may be reclassified to the statement of income
Exchange rate differences	–5	–39	17	–144	51
Cash flow hedges	–	–	–	3	–
Other revaluation2)	–	–	–	–	–
Other comprehensive income and expenses for the period, net after tax	–17	–29	8	–175	20
Total comprehensive income for the period1)	134	136	744	474	741

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

2) 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.

BALANCE SHEET

	2014	2013	2013	2012
SEK m	Mar 31	Mar 31	Dec 31	Dec 31
ASSETS
Fixed assets
Goodwill	3,344	3,291	3,346	3,317
Acquisition-related intangible assets	119	144	126	153
Other intangible assets	92	88	93	93
Tangible fixed assets	2,933	2,711	2,972	2,865
Non-interest-bearing financial fixed assets2)	391	374	447	414
Interest-bearing financial fixed assets1) 2)	61	67	61	66
Total fixed assets	6,940	6,674	7,045	6,907
Current assets
Non-interest-bearing current assets3)	2,062	1,765	1,879	1,689
Interest-bearing financial current assets1)	0	1	10	10
Liquid funds	302	620	333	380
Total current assets	2,364	2,386	2,222	2,079
TOTAL ASSETS	9,304	9,060	9,267	8,986
SHAREHOLDERS' EQUITY AND LIABILITIES
Shareholders' equity4)	4,297	3,880	4,165	3,595
Long-term liabilities
Interest-bearing long-term liabilities2)	1,858	2,457	1,849	2,883
Non-interest-bearing provisions2)	584	639	674	663
Total long-term liabilities	2,442	3,096	2,523	3,547
Current liabilities
Tax liabilities	96	86	80	74
Non-interest-bearing current liabilities	1,767	1,615	1,819	1,722
Interest-bearing current liabilities	702	383	680	48
Total current liabilities	2,565	2,084	2,579	1,845
TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES	9,304	9,060	9,267	8,986
KEY RATIOS
Return of shareholders' equity, %	17	18	18	18
Return of capital employed, %	17	17	17	17
Equity ratio, %	46	43	45	40
Net debt	2,197	2,153	2,125	2,475
Net debt/EBITDA	1.16	1.23	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) Shareholders' equity in its entirety is attributable to the owners of the Parent Company.

CHANGE IN SHAREHOLDERS' EQUITY

	2014	2013	2013	2012	R12
SEK m	Jan–Mar	Jan–Mar	Full year	Full year
Opening balance	4,165	3,595	3,595	3,397	3,880
Actuarial gains and losses after tax	–12	10	–9	–34	–31
Exchange rate differences	–5	–39	17	–144	51
Cash flow hedges	–	–	–	3	–
Total other comprehensive income	–17	–29	8	–175	20
Net income for the period	151	165	736	650	721
Total comprehensive income	134	136	744	474	741
Dividend paid to Parent Company's shareholders	–	–	–338	–273	–338
Share-related remuneration1)	–2	–10	0	–4	9
New share issue related to warrants	–	160	164	–	4
Other revaluation2)	–	–	–	–	–
Closing balance	4,297	3,880	4,165	3,595	4,297

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.

STATEMENT OF CASH FLOWS

2014	2013	2013	2012	R12
Jan–Mar	Jan–Mar	Full year	Full year
210	234	1,038	932	1,014
213	154	762	687	822
–32	–31	–319	–252	–319
–45	–5	6	54	–34
–236	–256	–186	–182	–166
110	96	1,302	1,239	1,316
–153	–47	–709	–1,003	–815
12	192	–641	–261	–822
–31	242	–48	–24	–320
333	380	380	413	620
–1	–3	1	–8	3
302	620	333	380	302

STATEMENT OF CASH FLOWS, ADDITIONAL INFORMATION

	2014	2013	2013	2012	R12
SEK m	Jan–Mar	Jan–Mar	Full year	Full year
Operating income (EBITA)1)	242	218	1,099	1,019	1,124
Depreciation	201	186	758	717	773
Change in accounts receivable	–45	–5	6	54	–34
Change in other operating capital employed and other items	–236	–256	–186	–182	–166
Cash flow from operating activities before investments	162	143	1,677	1,607	1,696
Investments in fixed assets, net	–150	–86	–720	–747	–785
Cash flow from operating activities	11	57	957	860	911
Financial items paid and received	–17	–15	–49	–63	–50
Income tax paid	–32	–31	–319	–252	–319
Free cash flow	–37	11	590	545	542
Cash flow effect of items affecting comparability	–1	–0	–7	–10	–8
Acquisition of operations2)	–2	–2	–29	–289	–30
Acquisition-related costs and revenue, paid and received3)	–2	41	40	–10	–2
Dividend paid	–	–	–338	–273	–338
Repayments of leasing liabilities	–11	–9	–40	–21	–41
Change in interest-bearing net debt excluding liquid funds	22	201	–512	34	–691
Change in commercial paper issued	–	–	248	–	248
Cash flow for the period	–31	242	–48	–24	–320
KEY RATIOS
Cash flow from operating activities as % of operating income (EBITA)	5	26	87	84	81
Investments in relation to depreciation	0.7	0.5	1.0	1.0	1.0
Investments as a % of total revenue	5.2	3.2	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

	2014	2013	2013	2012	R12
SEK m	Jan–Mar	Jan–Mar	Full year	Full year
Europe
Revenue	1,753	1,641	7,005	6,955	7,116
Real growth, %	4	–1	2	2	3
Organic growth, %	3	–3	2	0	3
Operating income (EBITA)1)	160	148	794	736	806
Operating margin (EBITA), %	9.1	9.0	11.3	10.6	11.3
USA
Revenue	1,124	1,065	4,359	4,405	4,419
Real growth, %	5	0	2	5	3
Organic growth, %	5	0	2	0	3
Operating income (EBITA)1)	108	93	414	400	429
Operating margin (EBITA), %	9.6	8.7	9.5	9.1	9.7
Other 2)
Revenue	–	–	–	–	–
Operating income (EBITA)1)	–26	–23	–109	–117	–112
Group total
Revenue	2,877	2,706	11,364	11,360	11,535
Real growth, %	4	–1	2	3	3
Organic growth, %	4	–2	2	0	3
Operating income (EBITA)1)	242	218	1,099	1,019	1,124
Operating margin (EBITA), %	8.4	8.0	9.7	9.0	9.7

KEY RATIOS

	2014	2013	2013	2012	R12
	Jan–Mar	Jan–Mar	Full year	Full year
Real growth, %	4	–1	2	3	3
Organic growth, %	4	–2	2	0	3
Total growth,%	6	–4	0	4	3
Gross margin,%	22.0	22.0	23.2	22.7	23.1
Selling and administration expenses in % of total revenue	–13.6	–14.0	–13.5	–13.7	–13.4
Operating margin (EBITA), %	8.4	8.0	9.7	9.0	9.7
Tax rate, %	28	29	29	30	29
Net margin, %	5.2	6.1	6.5	5.7	6.3
Return of shareholders' equity, %	17	18	18	18	17
Return of capital employed, %	17	17	17	17	17
Equity ratio, %	46	43	45	40	46
Net debt (SEK m)	2,197	2,153	2,125	2,475	2,197
Net debt/EBITDA	1.16	1.23	1.14	1.43	1.16
Cash flow from operating activities as % of operating income (EBITA)	5	26	87	84	81
Investments in relation to depreciation	0.7	0.5	1.0	1.0	1.0
Investments as a % of total revenue	5.2	3.2	6.3	6.6	6.8
Earnings per share before dilution, SEK	2.001)	2.242)	9.833)	8.904)	9.595)
Earnings per share after dilution, SEK	2.00	2.19	9.78	8.60	9.59
Shareholders' equity per share after dilution, SEK	57.12	51.54	55.32	47.57	57.12
Cash flow from operating activities per share after dilution, SEK	1.47	1.28	17.29	16.40	17.50
Dividend per share, SEK	–	–	4.50	3.75	4.50
Number of outstanding shares (millions)	75.2	75.2	75.3	73.0	75.2
Average number of outstanding shares (millions)	75.31)	73.52)	74.83)	73.04)	75.35)

1) The average number of outstanding shares, which constitutes the basis for calculation of earnings per share before dilution, is 75,273,755.

2) 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. 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 75,266,277.

STATEMENT OF INCOME – BY QUARTER

	2014	2013					2012
SEK m	Jan–Mar	Oct–Dec	Jul–Sep	Apr–Jun	Jan–Mar	Oct–Dec	Jul–Sep	Apr–Jun	Jan–Mar
Revenue, continuing operations	2,864	2,923	2,897	2,832	2,668	2,798	2,734	2,787	2,665
Revenue, acquisitions	13	5	–	–	38	55	53	111	158
Total revenue	2,877	2,928	2,897	2,832	2,706	2,852	2,788	2,898	2,822
Production expenses	–2,245	–2,238	–2,209	–2,172	–2,111	–2,150	–2,131	–2,278	–2,222
Gross income	632	690	688	660	595	702	657	620	600
Selling and administration expenses	–390	–395	–378	–384	–378	–393	–384	–395	–388
Operating income (EBITA)1)	242	295	311	276	218	310	272	225	212
Amortization of acquisition-related intangible assets	–7	–7	–7	–7	–7	–7	–8	–7	–6
Acquisition-related costs and revenue2)	–12	–2	–0	–7	36	30	–14	–30	–5
Items affecting comparability	–	–	–	–143)	–	–	–	164)	–
Operating income (EBIT)	223	286	303	248	247	333	251	204	201
Net financial items	–13	–12	–9	–13	–13	–11	–18	–16	–11
Income before taxes	210	274	294	236	234	321	234	188	190
Income tax	–59	–77	–87	–69	–69	–99	–70	–56	–57
Net income for the period5)	151	197	207	166	165	222	164	131	133
KEY RATIOS
Real growth, %	4	3	4	2	–1	2	0	3	9
Gross margin, %	4	3	4	2	–2	0	–2	–1	3
Operating margin (EBITA), %	8.4	10.1	10.7	9.8	8.0	10.9	9.8	7.8	7.5
Tax rate, %	28	28	29	29	29	31	30	30	30
Earnings per share before dilution (SEK)	2.00	2.62	2.76	2.21	2.19	2.93	2.17	1.74	1.76

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 - March 2014, refer to transaction costs of SEK –9 million (–5), restructuring costs of SEK –2 million (0) and integration costs of SEK –1 million (0) 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 - March 2014 amount to SEK –9 million for acquisitions in progress, to SEK 0 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) Net income for the period is entirely attributable to the owners of the Parent Company.

BALANCE SHEET – BY QUARTER

	2014		2013				2012
SEK m	Mar 31	Dec 31	Sep 30	Jun 30	Mar 31	Dec 31	Sep 30	Jun 30	Mar 31
ASSETS
Fixed assets
Goodwill	3,344	3,346	3,296	3,414	3,291	3,317	3,310	3,505	3,360
Acquisition-related intangible assets	119	126	131	142	144	153	159	172	163
Other intangible assets	92	93	90	91	88	93	86	77	87
Tangible fixed assets	2,933	2,972	2,779	2,807	2,711	2,865	2,822	2,919	2,891
Non interest-bearing financial fixed assets1)	391	447	399	352	374	414	409	463	440
Interest-bearing financial fixed assets1)	61	61	71	86	67	66	65	63	143
Total fixed assets	6,940	7,045	6,766	6,892	6,674	6,907	6,850	7,198	7,084
Current assets
Non interest-bearing current assets	2,062	1,879	1,846	1,889	1,765	1,689	1,849	2,006	1,965
Interest-bearing financial current assets	0	10	19	3	1	10	17	3	7
Liquid funds	302	333	388	243	620	380	264	211	298
Total current assets	2,364	2,222	2,253	2,135	2,386	2,079	2,130	2,220	2,270
TOTAL ASSETS	9,304	9,267	9,020	9,027	9,060	8,986	8,980	9,417	9,354
SHAREHOLDERS' EQUITY AND LIABILITIES
Shareholders' equity2)	4,297	4,165	3,914	3,837	3,880	3,595	3,371	3,341	3,446
Long-term liabilities
Interest-bearing long-term liabilities1)	1,858	1,849	2,042	2,088	2,457	2,883	3,035	3,461	3,016
Non interest-bearing provisions1)	584	674	590	598	639	663	621	605	611
Total long-term liabilities	2,442	2,523	2,632	2,686	3,096	3,547	3,655	4,067	3,626
Current liabilities
Tax liabilities	96	80	88	89	86	74	214	176	192
Non interest-bearing current liabilities	1,767	1,819	1,708	1,696	1,615	1,722	1,710	1,782	1,920
Interest-bearing current liabilities	702	680	677	719	383	48	29	52	169
Total current liabilities	2,565	2,579	2,473	2,503	2,084	1,845	1,954	2,010	2,281
TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES	9,304	9,267	9,020	9,027	9,060	8,986	8,980	9,417	9,354
KEY RATIOS
Return of shareholders' equity, %	17	18	19	19	18	18	18	18	16
Return of capital employed, %	17	17	18	17	17	17	16	15	15
Equity ratio, %	46	45	43	43	43	40	38	35	37
Net debt	2,197	2,125	2,241	2,475	2,153	2,475	2,717	3,237	2,737
Net debt/EBITDA	1.16	1.14	1.21	1.37	1.23	1.43	1.62	1.94	1.70

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

CASH FLOW – BY QUARTER

	2014		2013				2012
SEK m		Jan–Mar Okt – Dec		Jul–Sep Apr–Jun Jan–Mar Okt – Dec				Jul–Sep Apr–Jun Jan–Mar
Additional information
Operating income (EBITA)1)	242	295	311	276	218	310	272	225	212
Depreciation	201	195	190	187	186	179	181	183	173
Change in accounts receivable	–45	42	32	–63	–5	51	16	34	–47
Change in other operating capital employed and other items	–236	51	17	3	–256	–5	116	–174	–120
Cash flow from operating activities before investments	162	582	549	403	143	534	585	269	219
Investments in fixed assets, net	–150	–262	–181	–192	–86	–222	–223	–142	–161
Cash flow from operating activities	11	321	368	211	57	313	362	127	58
Financial items paid and received	–17	–12	–11	–10	–15	–11	–26	–8	–18
Income tax paid	–32	–69	–131	–88	–31	–70	–9	–97	–76
Free cash flow	–37	239	227	112	11	232	328	22	–36
Cash flow effect of items affecting comparability	–1	–4	–1	–1	–0	–0	–3	–7	–0
Acquisition of operations2)	–2	–19	–3	–5	–2	–3	–7	–76	–203
Acquisition-related costs and revenue, paid and received3)	–2	–	–0	–1	41	29	–9	–29	–1
Dividend paid	–	–	–	–338	–	–	–	–273	–
Repayments of leasing liabilities	–11	–16	–6	–9	–9	–0	–7	–5	–9
Change in interest-bearing net debt excl. liquid funds	22	–259	–63	–142	201	–142	–237	274	139
Cash flow for the period	–31	–60	154	–385	242	116	64	–94	–110
KEY RATIOS
Cash flow from operating activities as % of operating income (EBITA)	5	109	119	76	26	101	133	56	27
Investments in relation to depreciation	0.7	1.3	1.0	1.0	0.5	1.2	1.2	0.8	0.9
Investments as a % of total revenue	5.2	8.9	6.2	6.8	3.2	7.8	8.0	4.9	5.7

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 – BY QUARTER

	2014	2013				2012
SEK m		Jan–Mar Okt – Dec	Jul–Sep	Apr–Jun		Jan–Mar Okt – Dec	Jul–Sep	Apr–Jun	Jan–Mar
Europe
Revenue	1,753	1,831	1,800	1,733	1,641	1,762	1,710	1,764	1,720
Real growth, %	4	3	4	2	–1	2	0	2	5
Organic growth, %	3	3	4	2	–3	0	–2	–2	3
Operating income (EBITA) 1)	160	219	246	181	148	219	206	158	152
Operating margin (EBITA), %	9.1	12.0	13.7	10.4	9.0	12.4	12.1	9.0	8.8
USA
Revenue	1,124	1,097	1,098	1,099	1,065	1,091	1,077	1,134	1,102
Real growth, %	5	2	4	2	0	1	–1	3	18
Organic growth, %	5	2	4	2	0	0	–2	–1	3
Operating income (EBITA) 1)	108	107	87	127	93	125	92	95	88
Operating margin (EBITA), %	9.6	9.8	7.9	11.6	8.7	11.5	8.5	8.4	8.0
Other 2)
Revenue	–	–	–	–	–	–	–	–	–
Operating income (EBITA) 1)	–26	–32	–22	–31	–23	–34	–26	–28	–28
Group total
Revenue	2,877	2,928	2,897	2,832	2,706	2,852	2,788	2,898	2,822
Real growth, %	4	3	4	2	–1	2	0	3	9
Organic growth, %	4	3	4	2	–2	0	–2	–1	3
Operating income (EBITA) 1)	242	295	311	276	218	310	272	225	212
Operating margin (EBITA), %	8.4	10.1	10.7	9.8	8.0	10.9	9.8	7.8	7.5

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

2) The category 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	Mar 31	Dec 31	Sep 30	Jun 30	Mar 31	Dec 31	Sep 30	Jun 30	Mar 31
Europe
Assets	4,466	4,399	4,229	4,177	3,974	4,107	4,077	4,302	4,328
Liabilities	1,560	1,588	1,517	1,491	1,372	1,553	1,496	1,583	1,653
USA
Assets	4,163	4,089	4,031	4,231	4,095	4,052	4,066	4,314	4,105
Liabilities	472	527	555	540	540	596	598	608	601
Other
Assets	675	779	759	619	990	827	838	802	921
Liabilities	2,975	2,988	3,033	3,159	3,268	3,242	3,515	3,886	3,653
Shareholder's equity	4,297	4,165	3,914	3,837	3,880	3,595	3,371	3,341	3,446
Group total
Assets	9,304	9,267	9,020	9,027	9,060	8,986	8,980	9,417	9,354
Liabilities	5,007	5,103	5,105	5,190	5,180	5,391	5,609	6,076	5,908
Shareholder's equity	4,297	4,165	3,914	3,837	3,880	3,595	3,371	3,341	3,446

QUARTERLY DATA

	2014	2013				2012
SEK m	Jan–Mar	Oct–Dec	Jul–Sep	Apr–Jun	Jan–Mar	Oct–Dec	Jul–Sep	Apr–Jun	Jan–Mar
Cash flow
Operations	110	496	407	302	96	450	538	128	123
Investment activities	–153	–281	–184	–197	–47	–192	–230	–218	–363
Financing activities	12	–275	–69	–490	192	–142	–244	–4	130
Cash flow for the period	–31	–60	154	–385	242	116	64	–94	–110
Capital employed and financing
Operating capital employed	3,057	2,834	2,743	2,818	2,685	2,631	2,618	2,868	2,712
Goodwill	3,344	3,346	3,296	3,414	3,291	3,317	3,310	3,505	3,360
Acquisition-related intangible assets	119	126	131	142	144	153	159	172	163
Other capital employed	–26	–16	–14	–62	–87	–31	2	33	–52
Capital employed	6,494	6,290	6,156	6,312	6,033	6,070	6,089	6,578	6,184
Net debt	2,197	2,125	2,241	2,475	2,153	2,475	2,717	3,237	2,737
Shareholders' equity	4,297	4,165	3,914	3,837	3,880	3,595	3,371	3,341	3,446
Key ratios
Return of shareholders' equity, %	17	18	19	19	18	18	18	18	16
Return of capital employed, %	17	17	18	17	17	17	16	15	15
Equity ratio, %	46	45	43	43	43	40	38	35	37
Net debt/EBITDA	1.16	1.14	1.21	1.37	1.23	1.43	1.62	1.94	1.70

KEY RATIOS – BY QUARTER

	2014		2013			2012
SEK m	Jan–Mar	Oct–Dec	Jul–Sep	Apr–Jun	Jan–Mar	Oct–Dec	Jul–Sep	Apr–Jun	Jan–Mar
Real growth, %	4	3	4	2	–1	2	0	3	9
Organic growth, %	4	3	4	2	–2	0	–2	–1	3
Total growth, %	6	3	4	–2	–4	–1	–3	8	12
Gross margin,%	22.0	23.6	23.8	23.3	22.0	24.6	23.6	21.4	21.3
Selling and administration expenses in % of total revenue	–13.6	–13.5	–13.0	–13.5	–14.0	–13.8	–13.8	–13.6	–13.7
Operating margin (EBITA), %	8.4	10.1	10.7	9.8	8.0	10.9	9.8	7.8	7.5
Tax rate, %	28	28	29	29	29	31	30	30	30
Net margin, %	5.2	6.7	7.2	5.9	6.1	7.8	5.9	4.5	4.7
Return of shareholders' equity, %	17	18	19	19	18	18	18	18	16
Return of capital employed, %	17	17	18	17	17	17	16	15	15
Equity ratio, %	46	45	43	43	43	40	38	35	37
Net debt (SEK m)	2,197	2,125	2,241	2,475	2,153	2,475	2,717	3,237	2,737
Net debt/EBITDA	1.16	1.14	1.21	1.37	1.23	1.43	1.62	1.94	1.70
Cash flow from operating activities as % of op erating income (EBITA)	5	109	119	76	26	101	133	56	27
Investments in relation to depreciation	0.7	1.3	1.0	1.0	0.5	1.2	1.2	0.8	0.9
Investments as a % of total revenue	5.2	8.9	6.2	6.8	3.2	7.8	8.0	4.9	5.7
Earnings per share before dilution, SEK	2.001)	2.622)	2.763)	2.214)	2.245)	3.046)	2.247)	1.808)	1.829)
Earnings per share after dilution, SEK	2.00	2.62	2.76	2.21	2.19	2.93	2.17	1.74	1.76
Shareholders' equity per share after dilution, SEK	57.12	55.32	52.00	50.97	51.54	47.57	44.62	45.21	45.61
Cash flow from operating activities per share after dilution, SEK	1.47	6.60	5.40	4.02	1.28	5.95	7.12	1.70	1.63
Dividend per share, SEK	–	–	–	4.50	–	–	–	3.75	–
Number of outstanding shares (millions)	75.2	75.3	75.3	75.2	75.2	73.0	73.0	73.0	73.0
Average number of outstanding shares (mil lions)	75.31)	75.32)	75.33)	75.24)	73.55)	73.06)	73.07)	73.08)	73.09)

1) The average number of outstanding shares, which constitutes the basis for calculation of earnings per share before dilution, is 75,273,755.

2) 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.

3) 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.

4) 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.

5) 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.

6) 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.

7) 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.

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 June 30, 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 111,113 shares that were held as treasury shares as of March 31, 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:

Jan –Mar 2014: 151/75,273,755 x 1,000,000 = 2.00 Jan –Mar 2013: 165/73,548,751 x 1,000,000 = 2.24

Earnings per share after dilution

Calculation for: Jan –Mar 2014: 151/75,226,032 x 1,000,000 = 2.00 Jan –Mar 2013: 165/75,288,003 x 1,000,000 = 2.19

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 percetage 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 ration, %

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 (April 2013 up to and including March 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.

Strategies and Operational goals

Strategies

Cost effectiveness

• Price Price increase percentages to exceed wage increase percentages.
• Branch 85 percent of the branches to be profitable.
• Risk The cost of risk management to be below 4 percent of revenue.

Expansion

• Be number 1 or 2 in every market where Loomis operates.
• Controlled, acquisition-based expansion into new countries.
• Stronger market position in existing countries.

Product mix

• At least 30 percent of revenue to come from Cash Management Services.

Operational goals

• Good profitability and sustainable growth.

Loomis offers safe and effective comprehensive solutions for the distribution, handling and recycling of cash for banks, retailers and other commercial companies via an international network of almost 400 branches in 16 countries. The Group has 20,000 employees and annual revenue of SEK 11 billion. Loomis is a Mid-Cap listed company on the NASDAQ OMX Stockholm.

Information meeting

An information meeting will be held on May 7, 2014 09:30 a.m. (CEST). This meeting will be held at Sveavägen 20, 2nd 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=007175&Conf=215811 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 May 21, 2014 on telephone number +46(0)8 505 203 33, +44 (0)20 7031 4064 and + 1 954 334 0342, access code 943988.

Future reporting and meetings

Interim report	January – June	July 31, 2014
Interim report	January – September	November 6, 2014

Loomis´ Annual General Meeting will be held on Tuesday, May 6, 2014 in Stockholm.

For further information

Jarl Dahlfors, CEO +46 (0)70 607 20 51, e-mail: jarl.dahlfors@loomis.com Anders Haker, CFO +46 (0)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

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 Tuesday, May 6, 2014 at 3.00 p.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