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Loomis Interim / Quarterly Report 2026
2940_10-q_2026-05-07_2cadd605-4b72-47f3-8986-f3208f3b8973.pdf
Interim / Quarterly Report
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LOOMIS
Interim report
January-March 2026
Q1
Strong currency-adjusted growth and margin expansion
Comments on quarter 1
- Revenue for the quarter was SEK 7,491 million (7,665). The currency-adjusted growth was 9.3 percent (4.5), of which organic growth was 5.9 percent (4.4) and acquisitions contributed 3.4 percent (0.1). Including the exchange rate effect, the total growth was -2.3 percent (5.7).
- Operating income (EBITA) for the quarter was SEK 946 million (886) and the operating margin (EBITA) increased to 12.6 percent (11.6).
- Operating income (EBIT) before items affecting comparability for the quarter was SEK 896 million (823) and operating margin (EBIT) before items affecting comparability was 12.0 percent (10.7).
- Income before taxes for the quarter was SEK 757 million (531) and net income was SEK 530 million (382).
- Basic earnings per share for the quarter were SEK 7.91 (5.57) and diluted earnings per share were SEK 7.88 (5.56).
- Cash flow from operating activities was SEK 797 million (898) in the quarter. The cash flow from operating activities for the rolling twelve months was 95 percent (121) of operating income (EBITA).
- Loomis has set new near-term science-based GHG reduction targets within Scope 1, 2 and 3 which have been validated by the Science Based Targets initiative. Read more on page 7.
- Loomis enters Peru through the intended acquisition of Hermes Transportes Blindados via a public tender offer. Read more on page 9.
| KEY RATIOS | 2026 | 2025 | 2025 |
|---|---|---|---|
| SEK m | Quarter 1 | Quarter 1 | Change (%) |
| Revenue | 7,491 | 7,665 | -2.3 |
| Of which: | |||
| Organic growth | 450 | 320 | 1,227 |
| Acquisitions and divestments | 261 | 4 | 600 |
| Exchange rate effects | -886 | 88 | -1,842 |
| Total growth | -174 | 412 | -15 |
| Operating income (EBITA) | 946 | 886 | 3,851 |
| Operating margin (EBITA), % | 12.6 | 11.6 | 12.7 |
| Operating income (EBIT) before items affecting comparability | 896 | 823 | 3,597 |
| Operating margin (EBIT) before items affecting comparability, % | 12.0 | 10.7 | 11.8 |
| Income before tax | 757 | 531 | 2,381 |
| Profit for the period | 530 | 382 | 1,582 |
| Basic earnings per share, SEK | 7.91 | 5.57 | 23.29 |
| Tax rate, % | 30 | 28 | 34 |
| Cash flow from operating activities | 797 | 898 | 3,826 |
| Cash flow from operating activities as % of operating income (EBITA) | 84 | 101 | 99 |
Explanation and reconciliation of alternative performance measures can be found on pages 23-24 and under Definitions on page 25.
This is a translation of the Swedish original report. In the event of differences between the English translation and the Swedish report, the Swedish report shall prevail.
Loomis Interim Report January- March 2026
Strong start to the year
+9.3% 12.6%
Currency-adjusted growth, Q1 Operating margin (EBITA) Q1
Our performance in the first quarter was strong. Revenue reached SEK 7.5 billion despite significant currency headwinds and we achieved an organic growth of 5.9 percent and a currency-adjusted growth of 9.3 percent. Both segment USA and segment Europe and Latin America contributed to the positive development with notably strong performance within our International and Automated Solutions business lines. We increased our EBITA margin by 1 percentage point year-over-year to 12.6 percent by successfully growing our business and executing our operational efficiency measures.
We continue to have a strong operating cash flow and balance sheet, which has enabled us to invest in the business, pursue acquisitions, and deliver the highest dividend in our history to shareholders. The cash flow from operating activities in relation to our EBITA for the latest twelve months was 95 percent.
Strong performance in Europe and Latin America
Segment Europe and Latin America delivered a strong performance in the quarter with revenues of SEK 3.6 billion. We achieved an organic growth of 6.6 percent, which was particularly strong considering the communicated revenue decline in the ATM business line. The uncertain geopolitical climate has increased global demand for secure logistics and the management of physical assets such as precious metals. This has positively impacted both our International and FXGS business lines, with the International business line growing by over 30 percent in the quarter compared to prior year. We also achieved double-digit growth within our Automated Solutions. The operating margin (EBITA) increased close to 1 percentage point to 10.2 percent.
Another record quarter for segment USA
Segment USA reported revenue of SEK 3.9 billion with a strong organic growth of 5.3 percent for the first quarter. The currency-adjusted growth was 10.8 percent. The volume growth in the Automated Solutions and International business lines, combined with improved efficiency, contributed to an increased operating result. Despite the significant currency headwinds of -15.2 percent, the business achieved record high operating profit (EBITA) above SEK 700 million. The operating margin reached 17.9 percent, which is a new record for us.
Early stages within segment SME/Pay
Revenues in segment SME/Pay increased to SEK 72 million in the first quarter. More than 45 percent of revenues now come from new SME customers within our core and adjacent business lines, demonstrating that our strategic focus on SMEs is delivering results. The operating loss (EBITA) decreased year over year, in line with our strategic priorities.
Entering Peru through strategic acquisition
We have reached a significant milestone with the intended acquisition of Hermes Transportes Blindados, marking our entry into Peru and expanding our presence in Latin America. Hermes' strong position in the SME segment provides a solid platform to expand our Automated Solutions offering in Peru. We also see strong potential to complement their established valuables logistics within the mining sector with Loomis International's service offering. I look forward to welcoming more than 3,200 new colleagues to Loomis.
Supporting customers as payments landscape evolves
Cash remains indispensable for societal resilience, and its continued relevance is increasingly recognized by governments and authorities through legislation that safeguards payment rights and access to cash. Most recently, New York has passed a new state law requiring stores to accept cash payments while in Switzerland a referendum was approved to enshrine cash in the constitution, with the Swiss National Bank guaranteeing the supply of cash. Such legislation underscores the societal value of a resilient cash infrastructure in an increasingly digital economy. Cash-acceptance laws reaffirm that access to cash and payment choice remain essential to financial inclusion, particularly in communities where cash is the primary means of payment.
In this context, Loomis plays a central role as a partner to the financial system, safeguarding continuity of cash infrastructure and access to cash while supporting merchants in meeting regulatory requirements safely and efficiently. Through our automated cash-handling solutions and our integrated cash and digital payment offerings for small and medium-sized enterprises, we are well prepared to help retailers accept cash seamlessly while adopting digital solutions, ensuring business continuity as payment ecosystems continue to evolve.
Delivering on our strategic priorities
Overall, we delivered a strong performance in the first quarter, and we are well on track to achieving our targets and priorities for the strategic period 2025 to 2027. On a rolling twelve-month basis, we achieved a currency-adjusted growth of 7.2 percent and an operating margin (EBITA) of 12.9 percent. Our new climate targets, which have been validated by the Science Based Targets initiative, is a milestone in our journey to lead sustainability in our industry. I would like to thank our coworkers for their dedication and our customers for their continued trust in us, and I look forward to our journey ahead.
Stockholm, Sweden
May 7, 2026
Aritz Larrea,
President and CEO
Loomis Interim Report January-March 2026
Revenue and Profitability
| 2026 | 2025 | 2026 | 2025 | |
|---|---|---|---|---|
| SEK m | Quarter 1 | Quarter 1 | R12 | Full year |
| Revenue | 7,491 | 7,665 | 30,253 | 30,427 |
| Revenue growth, % | -2.3 | 5.7 | -1.9 | -0.1 |
| - of which organic growth, % | 5.9 | 4.4 | 4.4 | 4.0 |
| - of which acquisitions / divestments, % | 3.4 | 0.1 | 2.8 | 2.0 |
| - of which exchange rate effects, % | -11.6 | 1.2 | -9.1 | -6.1 |
| Operating income (EBITA) | 946 | 886 | 3,911 | 3,851 |
| Operating margin (EBITA), % | 12.6 | 11.6 | 12.9 | 12.7 |
Q1 Highlights
- Strong currency-adjusted growth and organic growth
- Highest operating margin (EBITA %) in a first quarter
- Negative impact from changes in exchange rates
Comments on quarter 1 2026
Revenue for the quarter amounted to SEK 7,491 million (7,665) with an organic growth of 5.9 percent. Acquisitions contributed to revenue growth while changes in exchange rates had a material negative impact. Notably, the high demand for movements and trading of precious metals had a positive impact on the growth in the quarter within the International and FXGS business lines. The Automated Solutions business line also delivered strong growth in the quarter. For revenue per business line, see note 3.
The operating income (EBITA) amounted to SEK 946 million (886), corresponding to a margin of 12.6 percent (11.6). The restructuring plans executed during 2025 delivered a positive impact in the quarter.
Net financial expenses decreased to SEK -139 million (-176) in the quarter, mainly due to lower interest rates.
Income before tax was SEK 757 million (531). The tax expense for the quarter was SEK -227 million (-149), which represents a tax rate of 30 percent (28). Net income for the period amounted to SEK 530 million (382).
Basic earnings per share and diluted earnings per share amounted to SEK 7.91 (5.57) and 7.88 (5.56) respectively.
Revenue, SEK m and operating margin (EBITA), %
Revenue, SEK m
Operating margin (EBITA), %
Revenue share per business line, Q1 2026
- CIT, 32% (35%)
- CMS, 15% (17%)
- International, 9% (7%)
- ATM, 18% (20%)
- Aut. Solutions, 21% (19%)
- FXGS, 3% (2%)
- Loomis Pay, 1% (0%)
- Other, 1% (0%)
Loomis Interim Report January-March 2026
Segment Europe and Latin America
| 2026 | 2025 | 2026 | 2025 | |
|---|---|---|---|---|
| SEK m | Quarter 1 | Quarter 1 | R12 | Full year |
| Revenue | 3,584 | 3,587 | 14,611 | 14,614 |
| Revenue growth, % | -0.1 | 3.4 | -2.0 | -1.2 |
| - of which organic growth, % | 6.6 | 4.1 | 3.7 | 3.1 |
| - of which acquisitions / divestments, % | 0.8 | - | 0.4 | 0.2 |
| - of which exchange rate effects, % | -7.5 | -0.8 | -6.1 | -4.5 |
| Operating income (EBITA) | 367 | 333 | 1,752 | 1,717 |
| Operating margin (EBITA), % | 10.2 | 9.3 | 12.0 | 11.8 |
Q1 Highlights
- Strong organic growth
- Negative impact from changes in exchange rates
- Strong performance within the International, FXGS and Automated Solutions business lines
- Increased operating margin (EBITA %) in line with strategic priorities
Comments on quarter 1 2026
Revenue within segment Europe and Latin America reached SEK 3,584 million (3,587). The organic growth was 6.6 percent with solid performance across most business lines. Acquisitions contributed to the revenue growth by 0.8 percent, while the exchange rate effect was -7.5 percent.
The increased demand for cross-border movement and storage of precious metals had a positive impact on the performance within the International and FXGS business lines. Notably, the International business line reported more than 30 percent total growth in the quarter compared to prior year, despite the currency headwinds. The performance within Automated Solutions was also strong, with double-digit growth despite the currency headwinds. The ATM business line declined compared to the previous year due to the previously communicated events. Refer to note 3 for the revenue per business line.
The operating profit (EBITA) amounted to SEK 367 million (333), corresponding to an increased margin of 10.2 percent (9.3). The margin expansion was supported by volume growth within the International, FXGS, and Automated Solutions business lines. In addition, the restructuring plans implemented during 2025 contributed positively to the performance in the quarter.
Revenue, SEK m and operating margin (EBITA), %
Revenue share per business line, Q1 2026
CIT, $31\%$ (34%)
CMS, $18\%$ (20%)
International, $13\%$ (10%)
ATM, $16\%$ (19%)
Aut. Solutions, $14\%$ (13%)
FXGS, $6 \%$ (5%)
Other, $1\%$ (1%)
Loomis Interim Report January-March 2026
Segment USA
| 2026 | 2025 | 2026 | 2025 | |
|---|---|---|---|---|
| SEK m | Quarter 1 | Quarter 1 | R12 | Full year |
| Revenue | 3,919 | 4,104 | 15,666 | 15,850 |
| Revenue growth, % | -4.5 | 8.0 | -2.1 | 1.0 |
| - of which organic growth, % | 5.3 | 4.9 | 5.1 | 5.0 |
| - of which acquisitions / divestments, % | 5.5 | - | 4.8 | 3.5 |
| - of which exchange rate effects, % | -15.2 | 3.0 | -12.0 | -7.5 |
| Operating income (EBITA) | 703 | 679 | 2,652 | 2,628 |
| Operating margin (EBITA), % | 17.9 | 16.6 | 16.9 | 16.6 |
Q1 Highlights
- Record revenue and operating profit (EBITA) in local currency
- Record-high operating margin (EBITA %)
- Strong currency-adjusted growth and organic growth
- Negative impact from changes in exchange rates
Comments on quarter 1 2026
Revenue in segment USA amounted to SEK 3,919 million (4,104) with an organic growth of 5.3 percent in the quarter. Acquisitions contributed to the revenue growth by 5.5 percent, while the exchange rate effect was -15.2 percent. Notably, the International business line had a strong performance in the quarter, impacted by an increased demand for cross-border movement of precious metals. The Automated Solutions business line continued to have strong organic growth. Price indexation related to higher fuel costs in March, following developments in Iran, also contributed positively to revenue in the first quarter. Refer to note 3 for the revenue per business line.
The operating income (EBITA) increased to a record of SEK 703 million (679), corresponding to a record high margin of 17.9 percent (16.6).
The implemented operational efficiency programs continue to drive margin expansion, enabling higher service quality and the capture of business growth without increasing headcount. Volume growth within the International and Automated Solutions business lines has further supported margin improvement.
The precious metals storage facility in Canada, which was acquired at the end of 2025, has been successfully integrated during the quarter and positively contributed to profitability. In addition, the sale of a facility and the relocation to a new leased facility had a slightly positive and non-recurring impact on the margin.
Revenue, SEK m and operating margin (EBITA), %
Revenue share per business line, Q1 2026
CIT, $33\%$ (36%)
CMS, $13\%$ (14%)
International, $4 \%$ (4%)
ATM, $20\%$ (21%)
Aut. Solutions, $26\%$ (24%)
Other, $4 \%$ (1%)
Loomis Interim Report January–March 2026
Segment SME/Pay
| 2026 | 2025 | 2026 | 2025 | |
|---|---|---|---|---|
| SEK m | Quarter 1 | Quarter 1 | R12 | Full year |
| Revenue | 72 | 30 | 251 | 208 |
| Revenue growth, % | 143.4 | 86.1 | 108.9 | 95.9 |
| – of which organic growth, % | 130.1 | 62.6 | 98.1 | 84.1 |
| – of which acquisitions / divestments, % | 24.4 | 23.4 | 17.4 | 16.3 |
| – of which exchange rate effects, % | -11.1 | 0.1 | -6.6 | -4.5 |
| Operating income (EBITA) | -39 | -52 | -148 | -161 |
Q1 Highlights
- Strong revenue growth
- Reduction in operating loss (EBITA)
- Positive contribution from acquisitions within Loomis Pay
Comments on quarter 1 2026
Revenue within segment SME/Pay amounted to SEK 72 million (30) in the quarter, with an organic growth of 130.1 percent compared to the previous year. Acquisitions contributed with a strong growth of 24.4 percent. More than 45 percent of the segment's revenues are coming from new SME customers in the CIT, CMS and Automated Solutions business lines. Within Loomis Pay, the migration from Loomis in-house POS (Point-of-Sale) platform to locally tailored partnership solutions is ongoing which has a slight negative impact on revenue. Refer to Note 3 for the revenue per business line.
The operating income (EBITA) amounted to SEK -39 million (-52). The reduction in the operating loss compared to the previous year is in line with the strategic priorities for the segment.
Revenue, SEK m
Revenue share per business line, Q1 2026
- CIT, 21% (7%)
- CMS, 7% (3%)
- Aut. Solutions, 18% (3%)
- Loomis Pay, 54% (87%)
Loomis Interim Report January-March 2026
Sustainability
Sustainability at Loomis
Loomis is part of the infrastructure that is critical for society, and thereby, the Group contributes to an inclusive and resilient society. Consequently, this requires Loomis to take long-term responsibility for the business and the impact of the Group's operations on society, people, and the environment. The starting point of Loomis' sustainability work is the Group's double materiality analysis which sets the foundation for sustainability initiatives. Loomis' sustainability ambitions are aligned with the Group's long-term business needs and ambitions. Loomis structures its sustainability topics into three areas: environmental sustainability, social responsibility and governance and compliance.
Environmental sustainability
New climate targets validated by SBTi
Loomis has set new near-term science-based GHG reduction targets within Scope 1, 2 and 3 and has become the first company in its industry to receive validation from the Science Based Targets initiative (SBTi). The validation demonstrates Loomis' commitment to reducing the Group's negative impact on the climate by adopting climate targets that conform to the IPCC's recommendation to limit global warming to well below 2 °C.
Loomis climate targets cover Scope 1, 2 and 3 and include both the company's direct and indirect emissions across the value chain. Loomis has chosen to set near-term targets to ensure that its emission reduction commitments are achievable, realistic, and grounded in operational realities.
The targets that have been validated by the SBTi are:
- reduce absolute scope 1 and 2 GHG emissions 48.0 percent by 2030 from the base year 2019
- reduce absolute scope 3 GHG emissions from capital goods, fuel- and energy-related activities, business travel, downstream transportation and distribution and downstream leased assets with 37.5 percent by 2035 from base year 2024
Loomis already has a strategic target to reach a 34 percent absolute reduction in Scope 1 and 2 by 2027 compared to the 2019 base year. This target remains and is an important milestone to reaching the 2030 target.
Comments on the performance January-March 2026
Loomis is making progress against its carbon emissions reduction plan. The usage of the biofuel HVO has increased by 10 percent in the first quarter compared to the previous year. 40 percent of the Group's electricity usage now comes from renewable sources. The combined Scope 1 and 2 emissions have increased slightly year-over-year as a result of the acquisitions completed in 2025. Compared to the fourth quarter 2025, Loomis has reduced its Scope 1 and 2 emissions by 3 percent.
Continuing to decrease emissions while growing the business is challenging, but something that the company is fully committed to. Initiatives are ongoing to align Burroughs with Loomis's carbon emissions reduction plan by introducing hybrid options in the vehicle fleet.
Social responsibility
Loomis Adopts New Operational Health and Safety Policy
Loomis has adopted a new Operational Health and Safety Policy, reinforcing the company's commitment to the safety and wellbeing of its employees. The policy was adopted by the Loomis Board of Directors in February 2026 and marks an important step in strengthening health and safety practices across the Group. The policy sets out Loomis' commitment to providing and maintaining a secure, healthy, and respectful working environment for employees, contractors, visitors, and other stakeholders. Implementation of the policy will begin during 2026 as part of a structured rollout across the Loomis Group.
Progress against injury reduction target
Loomis has a target to reduce the recordable work-related injury rate by 10 percent by 2027 compared with 2024. On a rolling twelve-months basis, the injury rate is slightly below this level. Continuing to keep employees safe and further reducing injuries is a key priority for the company.
Sustainability Report 2025
More information on Loomis' sustainability initiatives and KPIs is available in the Annual and Sustainability Report for 2025, which was published at the end of March 2026.
The 2025 Sustainability Report is the Group's first to be reported in accordance with the Corporate Sustainability Reporting Directive (CSRD) in alignment with the European Sustainability Reporting Standards (ESRS).
Scope 1 & 2 emissions (tCO₂e) and Revenue (SEK m)
Note: related injury rate
Loomis Interim Report January-March 2026
Cash flow and investments
January-March 2026
Cash flow from operating activities, excluding the IFRS 16 effects, amounted to SEK 797 million (898) in the first quarter. The cash flow was equivalent to 84 percent (101) of operating income (EBITA). On a rolling twelve-month basis the cash flow from operating activities in relation to the operating income (EBITA) was 95 percent.
Free cash flow for the first quarter amounted to SEK 642 million (343). The period in the previous year was negatively impacted by higher taxes paid, where tax payments in the US were postponed from 2024 to 2025.
Net investments in fixed assets for the quarter amounted to SEK -299 million (-345), which can be compared with depreciation (excluding the effect of IFRS 16) of SEK 383 million (410). Investments made during the quarter were mainly in buildings, vehicles, machinery and equipment and correspond to 4.0 percent (4.5) of revenue. Investments in relation to depreciation (excluding IFRS 16) for the year amounted to 0.8 (0.8).
Capital employed and financial position
Capital employed
The capital employed as of March 31, 2026 amounted to SEK 23,292 million (22,700 as of December 31, 2025), which is equivalent to 77 percent (74) of revenue. Higher operating results and continued optimization of capital employed resulted in an improved return of capital employed of 16.7 percent (16.1).
Shareholders' equity and financing
Shareholders' equity increased during the quarter by SEK 969 million, amounting to SEK 12,970 million as of March 31, 2026 (12,001 as of December 31, 2025). The difference is largely explained by translation differences of SEK 375 million and net profit for the period of SEK 530 million. The return on shareholders' equity was 13.8 percent (12.7) and the equity ratio was 33.7 percent (34.4).
Net debt amounted to SEK 10,322 million as of March 31, 2026 (10,699 as of December 31, 2025). Net debt/EBITDA improved to 1.49 (1.55 as of December 31, 2025), which is well below Loomis' ambition of being below 2.00.
As of March 31, 2026, the long-term loan facilities totaled SEK 10.6 billion and the short-term loan facilities totaled SEK 0.9 billion. Unutilized loan facilities amounted to SEK 4.8 billion, of which none are used as back-up for outstanding commercial paper. Available liquid funds amounted to SEK 3.4 billion (see Note 7).
Employees
The number of full-time equivalent employees (FTEs) as of March 31, 2026 was approximately 23,500 (24,100).
Loomis Interim Report January-March 2026
Other events
Events during the period, January-March 2026
On March 26 it was announced that Johan Wilsby has resigned from his role as Loomis's Chief Financial Officer and member of Group Management. Johan Wilsby continues in his current role until September 25, 2026. The recruitment process for a new Chief Financial Officer is ongoing.
Events after the end of the period
On April 27 it was announced that Loomis has set new near-term science-based GHG reduction targets within Scope 1, 2 and 3 and has become the first company in its industry to receive validation from the Science Based Targets initiative (SBTi). The targets that have been validated by the SBTi are:
- Loomis commits to reduce absolute scope 1 and 2 GHG emissions 48.0 percent by 2030 from the base year 2019.
- Loomis also commits to reduce absolute scope 3 GHG emissions from capital goods, fuel- and energy-related activities, business travel, downstream transportation and distribution and downstream leased assets with 37.5 percent by 2035 from the base year 2024.
On May 5 it was announced that Loomis Loomis has entered a Tender Offer Agreement ("TOA") with CVC Capital Partners and other minority shareholders representing 99.49 percent of the outstanding shares in the Peru-based cash and valuables management company Hemes Transportes Blindados S.A. ("Hermes"), publicly listed on the Lima Stock Exchange. Under the TOA, Loomis will launch a public tender offer ("Oferta Pública de Adquisición") for up to 100 percent of the shares of Hermes, at an enterprise value of approximately SEK 4 billion on a cash and debt free basis. The public tender offer is expected to be launched during the second or third quarter, with closing anticipated in the third quarter of 2026.
Loomis AB held its annual general meeting (AGM) on May 6, 2026. For information on the decisions made at the AGM, please refer to the General Meeting section on Loomis' website, https://www.loomis.com/en/about-us/corporate-governance/general-meetings
Loomis Interim Report January–March 2026
10
Financial reports
Condensed consolidated income statement
| SEK m | Note | 2026 Quarter 1 | 2026 Quarter 1 | 2025 R12 | 2025 Full year |
|---|---|---|---|---|---|
| Revenue | 3,4 | 7,491 | 7,665 | 30,253 | 30,427 |
| Production expenses | -5,275 | -5,518 | -21,418 | -21,661 | |
| Gross income | 2,216 | 2,147 | 8,835 | 8,765 | |
| Selling and administration expenses | -1,304 | -1,294 | -5,068 | -5,058 | |
| Other income and expenses | -16 | -29 | -97 | -110 | |
| Items affecting comparability | 6 | - | -117 | -451 | -568 |
| Operating income (EBIT) | 896 | 706 | 3,219 | 3,029 | |
| Finance income | 21 | 24 | 99 | 102 | |
| Finance costs | -159 | -197 | -702 | -740 | |
| Loss on monetary net assets/liabilities | -1 | -3 | -8 | -11 | |
| Income before taxes | 757 | 531 | 2,607 | 2,381 | |
| Income tax | -227 | -149 | -877 | -799 | |
| Net income for the period 1) | 530 | 382 | 1,730 | 1,582 | |
| Other comprehensive income | |||||
| Items that will not be reclassified to profit and loss | |||||
| Actuarial gains and losses, net of tax | 55 | 91 | -47 | -10 | |
| Items that may be reclassified to profit and loss | |||||
| Translation differences | 375 | -1,096 | -157 | -1,628 | |
| Other comprehensive income for the period, net after tax | 430 | -1,005 | -204 | -1,639 | |
| Total comprehensive income for the period 2) | 960 | -623 | 1,525 | -57 | |
| Earnings per share, SEK | |||||
| Basic earnings per share | 7.91 | 5.57 | 25.60 | 23.29 | |
| Diluted earnings per share | 7.88 | 5.56 | 25.51 | 23.21 | |
| Number of shares | |||||
| Number of shares outstanding (million) | 10 | 66.9 | 68.5 | 66.9 | 66.9 |
| Average number of shares outstanding before dilution (million) | 66.9 | 68.5 | 67.6 | 67.9 | |
| Average number of shares outstanding after dilution (million) | 67.2 | 68.6 | 67.8 | 68.2 |
1) Net income for the period is entirely attributable to the owners of the Parent company.
2) Comprehensive income is entirely attributable to the owners of the Parent company.
Loomis Interim Report January-March 2026
Financial reports
Consolidated balance sheet
| Note | 2026 | 2025 | 2025 | |
|---|---|---|---|---|
| SEK m | Mar 31 | Mar 31 | Dec 31 | |
| ASSETS | ||||
| Non-current assets | ||||
| Goodwill | 8,856 | 8,918 | 8,629 | |
| Intangible assets | 1,597 | 1,381 | 1,589 | |
| Buildings and land | 1,081 | 1,083 | 1,050 | |
| Machinery and equipment | 4,760 | 5,041 | 4,708 | |
| Right-of-use assets | 6,113 | 5,978 | 5,911 | |
| Contract assets | 487 | 419 | 432 | |
| Deferred tax assets | 568 | 383 | 553 | |
| Pension plan assets | 268 | 279 | 204 | |
| Interest-bearing financial assets | 8 | 5 | 33 | 11 |
| Other non-current receivables | 352 | 372 | 320 | |
| Total non-current assets | 24,087 | 23,887 | 23,405 | |
| Current assets | ||||
| Inventory | 663 | 448 | 587 | |
| Trade receivables | 3,647 | 3,253 | 3,478 | |
| Other current receivables | 373 | 338 | 361 | |
| Current tax assets | 262 | 206 | 346 | |
| Prepaid expenses and accrued income | 1,592 | 1,424 | 1,353 | |
| Interest-bearing financial assets | 8 | 34 | 691 | 16 |
| Cash and cash equivalents | 7 | 7,822 | 7,622 | 7,491 |
| Total current assets | 14,393 | 13,983 | 13,632 | |
| TOTAL ASSETS | 38,480 | 37,869 | 37,037 | |
| EQUITY AND LIABILITIES | ||||
| Equity | 10 | |||
| Share capital | 376 | 376 | 376 | |
| Other capital contributed | 4,594 | 4,594 | 4,594 | |
| Other reserves1) | 217 | 936 | -167 | |
| Retained earnings including net income for the year1) | 7,782 | 7,106 | 7,198 | |
| Total equity | 12,970 | 13,012 | 12,001 | |
| Non-current liabilities | ||||
| Interest-bearing non-current lease liabilities | 4,835 | 4,512 | 4,618 | |
| Loans payable | 8 | 6,117 | 6,837 | 6,081 |
| Deferred tax liabilities | 412 | 242 | 381 | |
| Provisions for claims reserves | 635 | 629 | 515 | |
| Provisions for pensions and similar commitments | 538 | 516 | 547 | |
| Other provisions | 251 | 194 | 234 | |
| Other non-current liabilities | 374 | 348 | 345 | |
| Total non-current liabilities | 13,162 | 13,278 | 12,721 | |
| Current liabilities | ||||
| Interest-bearing current lease liabilities | 1,768 | 1,871 | 1,753 | |
| Loans payable | 8 | 802 | 26 | 783 |
| Trade payables | 1,206 | 896 | 1,086 | |
| Provisions for claims reserves | 211 | 407 | 304 | |
| Current tax liabilities | 331 | 346 | 277 | |
| Liabilities, cash processing operations | 4,361 | 4,706 | 4,612 | |
| Accrued expenses and deferred income | 2,508 | 2,143 | 2,250 | |
| Other provisions | 159 | 213 | 226 | |
| Other current liabilities | 1,002 | 972 | 1,024 | |
| Total current liabilities | 12,348 | 11,579 | 12,315 | |
| TOTAL EQUITY AND LIABILITIES | 38,480 | 37,869 | 37,037 |
Loomis Interim Report January-March 2026
12
Financial reports
Consolidated statement of changes in equity
| SEK m | Quarter 1 | Quarter 1 | Full year |
|---|---|---|---|
| Opening balance | 12,001 | 13,631 | 13,631 |
| Actuarial gains and losses after tax | 55 | 91 | -10 |
| Exchange differences | 375 | -1,096 | -1,628 |
| Total other comprehensive income | 430 | -1,005 | -1,639 |
| Net income for the period | 530 | 382 | 1,582 |
| Total comprehensive income for the period^{1)} | 960 | -623 | -57 |
| Dividend paid to Parent Company’s shareholders | - | - | -959 |
| Share-based payment | 9 | 5 | -14 |
| Acquisition and cancellation of own shares | - | - | -600 |
| Closing balance | 12,970 | 13,012 | 12,001 |
1) Total comprehensive income is entirely attributable to the owners of the Parent company.
Consolidated statement of cash flows
| SEK m | Quarter 1 | Quarter 1^{2)} | Full year |
|---|---|---|---|
| Operating activities | |||
| Income before taxes | 757 | 531 | 2,381 |
| Depreciation and amortization | 782 | 802 | 3,186 |
| Other non-cash items | 129 | 273 | 973 |
| Financial items received | 17 | 20 | 101 |
| Financial items paid | -140 | -215 | -757 |
| Income tax paid | -88 | -416 | -1,255 |
| Change in trade receivables | -81 | 12 | -291 |
| Change in other working capital and other items | -108 | -19 | 270 |
| Cash flow from operating activities | 1,267 | 987 | 4,609 |
| Investing activities | |||
| Investments in non-current assets | -299 | -345 | -1,406 |
| Disposals of non-current assets | - | - | 0 |
| Acquisitions of operations | -1 | - | -693 |
| Cash flow from investing activities | -300 | -345 | -2,099 |
| Financing activities | |||
| Dividend paid | - | - | -959 |
| Acquisition of own shares | - | - | -600 |
| Issuance of bonds | - | - | 1,800 |
| Redemption of commercial papers and other long-term borrowing | - | - | -1,844 |
| Short-term interest-bearing deposits | - | -300 | 307 |
| Change in other interest-bearing liabilities | -420 | -443 | -1,295 |
| Cash flow from financing activities | -420 | -743 | -2,590 |
| Cash flow for the period | 547 | -100 | -80 |
| Cash and cash equivalents at beginning of period^{1)} | 2,853 | 3,074 | 3,074 |
| Translation differences in cash and cash equivalents | 29 | -89 | -142 |
| Cash and cash equivalents at end of period^{1)} | 3,429 | 2,886 | 2,853 |
1) Excluding funds within cash processing operations. See also Note 7 Cash and cash equivalents.
2) The Consolidated Statement of Cash flows for Quarter1 2025 is restated. For more information see quarterly report January-June 2025
Loomis Interim Report January–March 2026
13
Financial reports
Consolidated Statement of cash flows excluding IFRS 16 effects, Additional information
| 2026 | 2025 | 2026 | 2025 | |
|---|---|---|---|---|
| SEK m | Quarter 1 | Quarter 1^{3)} | R12 | Full year |
| Operating income (EBITA)^{1)} | 899 | 837 | 3,740 | 3,678 |
| Depreciation and amortization^{1)} | 383 | 410 | 1,550 | 1,576 |
| Change in trade receivables | -81 | 12 | -384 | -291 |
| Change in other working capital and other items^{1)} | -105 | -18 | 181 | 269 |
| Cash flow from operating activities before investments | 1,096 | 1,242 | 5,086 | 5,232 |
| Investments in non-current assets, net | -299 | -345 | -1,361 | -1,406 |
| Cash flow from operating activities | 797 | 898 | 3,726 | 3,826 |
| Financial items paid and received^{1)} | -67 | -139 | -358 | -430 |
| Income tax paid | -88 | -416 | -926 | -1,255 |
| Free cash flow | 642 | 343 | 2,441 | 2,142 |
| Cash flow effect of items affecting comparability | -11 | -22 | -174 | -184 |
| Acquisition of operations | -1 | - | -694 | -693 |
| Acquisition-related costs and revenue, paid and received^{2)} | -16 | -27 | -158 | -169 |
| Dividend paid | - | - | -959 | -959 |
| Acquisition of own shares | - | - | -600 | -600 |
| Issuance of bonds | - | - | 1,800 | 1,800 |
| Redemption of commercial papers, and other long-term borrowing | - | - | -1,844 | -1,844 |
| Short-term interest-bearing deposits | - | -300 | 607 | 307 |
| Change in other interest-bearing liabilities^{1)} | -67 | -93 | 146 | 119 |
| Cash flow for the period | 547 | -100 | 567 | -80 |
1) Excluding IFRS 16 effects.
2) Refers to the cash flow effect of acquisition-related transaction-, restructuring and integration costs.
3) The Consolidated Statement of Cash flows for Quarter1 2025 is restated. For more information quarterly report January-June 2025.
Loomis Interim Report January-March 2026
Notes
Note 1 – Accounting policies
The Group's financial reports are prepared in accordance with 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 (IFRIC). This interim report has been prepared according to IAS 34 Interim Financial Reporting.
The most important accounting policies in accordance with IFRS, which constitute the accounting standard for the preparation of this interim report, can be found in the annual report for 2025.
New or changed standards and interpretations that entered into force on January 1, 2026 did not have a material effect on the Group's financial statements.
Critical estimates and assessments
For critical estimates and assessments as well as contingent liabilities, please refer to pages 130 and 160 of the 2025 Annual Report. There have been no other significant changes compared to what is described in the Annual Report.
Parent Company – Loomis AB
The Parent Company's financial statements have been prepared in accordance with the Swedish Annual Accounts Act and RFR 2 Accounting for Legal Entities.
Note 2 – Risks and uncertainties
Risk management and key risks
A robust and effective risk management program is one of Loomis' most important success factors. Given its history and the nature of its service offering, Loomis has extensive experience managing risk and takes a structured and proactive approach throughout the organization—at both the local and central levels. Well-managed risk can create opportunities and add value to the business, while risk that is not efficiently managed can cause negative impacts and losses.
Loomis' Enterprise Risk Management (ERM) program provides a framework for the Group's risk activities. The purpose of the ERM framework is to proactively manage the portfolio of risks identified throughout the organization. The ERM activities are conducted holistically and proactively to support the achievement of Loomis' mission, strategy and business objectives.
Loomis classifies its risks into six categories: strategic risks, operational risks, compliance and legal risks, hazard risks, information and technology risks and financial risks. There are risks that pertain to Loomis itself and the industry as well as risks that are more general in nature.
Risks that have been identified to be of key significance include payment market changes, data privacy, health and safety, attracting and retaining employees, fraud and corruption, information security/cyber risk, physical security, climate change, compliance, money laundering and financial risks.
For further information on Loomis ERM framework as well as risks and the risk management approach, see pages 51–57 of Loomis' Annual and Sustainability Report 2025.
Uncertainty factors
Changes in general economic conditions and market trends have various effects on demand for cash handling services. These include cash usage trends, changes in consumption levels, the risk of robbery and bad debt losses, and the staff turnover rate.
The preparation of financial reports requires the Board of Directors and Group Management to make estimates and judgments. Estimates and judgments affect both the income statement and the balance sheet as well as disclosures of items like contingent liabilities. Actual outcomes may deviate from these estimates and judgments depending on other circumstances or conditions.
In 2026, the actual financial outcome of certain previously reported items affecting comparability, provisions and contingent liabilities, as described in the Annual and Sustainability Report 2025 and where applicable, under the heading "Critical accounting estimates and judgments" in Note 1 of this report, may deviate from the financial assessments and provisions made by management. This may impact the Group's profitability and financial position.
Seasonal variations
Loomis' earnings fluctuate across the seasons and this should be taken into consideration when making assessments based on interim financial information. The primary reason for these seasonal variations is that the number of payment transactions increases during the vacation periods.
Loomis Interim Report January-March 2026
15
Note 3 – Revenue by business line
Revenue per business line, quarter
| SEK m | Quarter 1 2026 | Quarter 1 2025 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Europe and Latin America | USA | SME/Pay | Group-wide functions and eliminations | Total | Europe and Latin America | USA | SME/Pay | Group-wide functions and eliminations | Total | |
| Cash in transit (CIT) | 1,127 | 1,289 | 15 | – | 2,431 | 1,206 | 1,482 | 2 | – | 2,690 |
| Cash management services (CMS) | 658 | 497 | 5 | – | 1,160 | 700 | 587 | 1 | – | 1,287 |
| ATM | 564 | 800 | – | – | 1,364 | 678 | 861 | – | – | 1,539 |
| Automated Solutions | 507 | 1,024 | 13 | – | 1,544 | 453 | 992 | 1 | – | 1,446 |
| International | 473 | 164 | – | – | 637 | 360 | 146 | – | – | 506 |
| FXGS | 203 | – | – | – | 203 | 149 | – | – | – | 149 |
| Loomis Pay | – | – | 39 | – | 39 | – | – | 26 | – | 26 |
| Other and internal sales | 51 | 147 | – | –84 | 113 | 41 | 35 | – | –55 | 22 |
| Total revenue | 3,584 | 3,919 | 72 | –84 | 7,491 | 3,587 | 4,104 | 30 | –55 | 7,665 |
Timing of revenue recognition, external
| At a point in time | 784 | 219 | – | – | 1,003 | 590 | 112 | – | – | 702 |
|---|---|---|---|---|---|---|---|---|---|---|
| Over time | 2,772 | 3,644 | 72 | – | 6,488 | 2,978 | 3,956 | 30 | – | 6,963 |
| Total external revenue | 3,556 | 3,863 | 72 | – | 7,491 | 3,567 | 4,068 | 30 | – | 7,665 |
Revenue per business line, full year
| SEK m | Full year 2025 | ||||
|---|---|---|---|---|---|
| Europe and Latin America | USA | SME/Pay | Group-wide functions and eliminations | Total | |
| Cash in transit (CIT) | 4,730 | 5,378 | 33 | – | 10,140 |
| Cash management services (CMS) | 2,818 | 2,242 | 9 | – | 5,070 |
| ATM | 2,707 | 3,310 | – | – | 6,016 |
| Automated Solutions | 2,004 | 4,038 | 22 | – | 6,064 |
| International | 1,468 | 561 | – | – | 2,029 |
| FXGS | 689 | – | – | – | 689 |
| Loomis Pay | – | – | 144 | – | 144 |
| Other and internal sales | 198 | 320 | – | –245 | 274 |
| Total revenue | 14,614 | 15,850 | 208 | –245 | 30,427 |
Timing of revenue recognition, external
| At a point in time | 2,665 | 629 | – | – | 3,294 |
|---|---|---|---|---|---|
| Over time | 11,843 | 15,082 | 208 | – | 27,133 |
| Total external revenue | 14,508 | 15,711 | 208 | – | 30,427 |
Revenue by significant geographical market
| 2026 | 2025 | 2025 | |
|---|---|---|---|
| SEK m | Quarter 1 | Quarter 1 | Full year |
| USA | 3,845 | 4,073 | 15,716 |
| France | 909 | 919 | 3,817 |
| Spain | 452 | 448 | 1,888 |
| Switzerland | 510 | 463 | 1,877 |
| UK | 283 | 329 | 1,156 |
| Sweden | 162 | 219 | 778 |
| Other countries | 1,331 | 1,213 | 5,195 |
| Total revenue | 7,491 | 7,665 | 30,427 |
External revenue is reported per significant geographical market.
Loomis Interim Report January-March 2026
Note 4 - Segment overview
Loomis has operations in a number of countries, with country presidents being responsible for each country. Segment presidents supervise operations in a number of countries and also support the respective country president. Operating segments are reported in accordance with Loomis' internal reporting, provided to the Loomis' CEO who has been identified as the most senior executive operating decision-maker within Loomis. Loomis has the following segments: Europe and Latin America, USA, SME/Pay and Group-wide functions. Presidents for the
segments are responsible for following up the Segments' revenue, operating income (EBITA) as well as operating income (EBIT) before items affecting comparability, according to the manner in which Loomis reports its consolidated income statement. This then forms the basis for how the CEO monitors development, allocates resources etc. Loomis has therefore chosen this structure for its segment reporting. For definitions of these measures, refer to definitions on page 25 as well as the alternative performance measures on pages 24.
Revenue
| 2025 | 2026 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SEK m | Q1 | Q2 | Q3 | Q4 | Full year | Q1 | Q2 | Q3 | Q4 | Full year |
| Europe and Latin America | 3,587 | 3,620 | 3,680 | 3,727 | 14,614 | 3,584 | - | - | - | - |
| USA | 4,104 | 3,811 | 3,956 | 3,979 | 15,850 | 3,919 | - | - | - | - |
| SME/Pay | 30 | 43 | 65 | 71 | 208 | 72 | - | - | - | - |
| Group-wide functions | - | - | - | - | - | - | - | - | - | - |
| Eliminations | -55 | -67 | -57 | -66 | -245 | -84 | - | - | - | - |
| Total revenue | 7,665 | 7,407 | 7,644 | 7,711 | 30,427 | 7,491 | - | - | - | - |
Operating income (EBITA)
| 2025 | 2026 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SEK m | Q1 | Q2 | Q3 | Q4 | Full year | Q1 | Q2 | Q3 | Q4 | Full year |
| Europe and Latin America | 333 | 445 | 473 | 467 | 1,717 | 367 | - | - | - | - |
| USA | 679 | 623 | 643 | 682 | 2,628 | 703 | - | - | - | - |
| SME/Pay | -52 | -41 | -32 | -36 | -161 | -39 | - | - | - | - |
| Group-wide functions | -73 | -83 | -78 | -97 | -332 | -85 | - | - | - | - |
| Operating income (EBITA) | 887 | 944 | 1,006 | 1,014 | 3,851 | 946 | - | - | - | - |
Operating income (EBIT)
| 2025 | 2026 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SEK m | Q1 | Q2 | Q3 | Q4 | Full year | Q1 | Q2 | Q3 | Q4 | Full year |
| Europe and Latin America | 300 | 412 | 440 | 430 | 1,582 | 339 | - | - | - | - |
| USA | 674 | 595 | 634 | 672 | 2,575 | 695 | - | - | - | - |
| SME/Pay | -52 | -41 | -32 | -36 | -161 | -39 | - | - | - | - |
| Group-wide functions | -99 | -85 | -81 | -135 | -400 | -98 | - | - | - | - |
| Operating income (EBIT) before items affecting comparability | 823 | 882 | 961 | 930 | 3,597 | 896 | - | - | - | - |
| Items affecting comparability | -117 | -68 | -23 | -360 | -568 | - | - | - | - | - |
| Operating income (EBIT) | 706 | 814 | 938 | 570 | 3,029 | 896 | - | - | - | - |
Loomis Interim Report January-March 2026
17
Segment overview income statement
Quarter 1 2026
| SEK m | Europe and Latin America | USA | SME/Pay | Group-wide functions | Eliminations | Total |
|---|---|---|---|---|---|---|
| Revenue | 3,555 | 3,694 | 65 | – | –84 | 7,230 |
| Revenue, acquisitions | 29 | 225 | 7 | – | – | 261 |
| Total revenue | 3,584 | 3,919 | 72 | – | –84 | 7,491 |
| Production expenses | –2,644 | –2,636 | –79 | – | 84 | –5,275 |
| Gross income | 939 | 1,283 | –7 | – | – | 2,216 |
| Selling and administrative expenses | –598 | –588 | –32 | –85 | – | –1,304 |
| Other income and expenses | –2 | –1 | – | –13 | – | –16 |
| Items affecting comparability | – | – | – | – | – | – |
| Operating income (EBIT) | 339 | 695 | –39 | –98 | – | 896 |
| Net financial items | – | – | – | –139 | – | –139 |
| Loss on monetary net assets/liabilities | – | – | – | –1 | – | –1 |
| Income before taxes | 339 | 695 | –39 | –238 | – | 757 |
Segment overview income statement
Quarter 1 2025
| SEK m | Europe and Latin America | USA | SME/Pay | Group-wide functions | Eliminations | Total |
|---|---|---|---|---|---|---|
| Revenue | 3,587 | 4,104 | 26 | – | –55 | 7,661 |
| Revenue, acquisitions | – | – | 4 | – | – | 4 |
| Total revenue | 3,587 | 4,104 | 30 | – | –55 | 7,665 |
| Production expenses | –2,713 | –2,823 | –38 | – | 55 | –5,518 |
| Gross income | 874 | 1,281 | –8 | – | – | 2,147 |
| Selling and administrative expenses | –572 | –605 | –44 | –73 | – | –1,294 |
| Other income and expenses | –2 | –2 | – | –25 | – | –29 |
| Items affecting comparability | –117 | – | – | – | – | –117 |
| Operating income (EBIT) | 182 | 674 | –52 | –99 | – | 706 |
| Net financial items | – | – | – | –173 | – | –173 |
| Loss on monetary net assets/liabilities | – | – | – | –3 | – | –3 |
| Income before taxes | 182 | 674 | –52 | –274 | – | 531 |
Segment overview balance sheet
| 2026 | 2025 | 2025 | |
|---|---|---|---|
| SEK m | Mar 31 | Mar 31 | Dec 31 |
| Europe and Latin America | |||
| Assets | 19,507 | 19,641 | 18,879 |
| Liabilities | 8,498 | 8,442 | 8,054 |
| USA | |||
| Assets | 15,726 | 14,865 | 14,198 |
| Liabilities | 3,974 | 3,630 | 2,796 |
| Other 1) | |||
| Assets | 3,247 | 3,364 | 3,960 |
| Liabilities | 13,038 | 12,785 | 14,187 |
| Equity | 12,970 | 13,012 | 12,001 |
| Group total | |||
| Assets | 38,480 | 37,869 | 37,037 |
| Liabilities | 25,510 | 24,857 | 25,036 |
| Equity | 12,970 | 13,012 | 12,001 |
1) Segment Other includes Group-wide functions and SME/Pay.
Loomis Interim Report January–March 2026
18
Note 5 – Acquisitions
No acquisitions have been completed during the period.
For acquisitions completed during 2025, refer to Note 12 in the 2025 Annual Report.
Note 6 – Items affecting comparability
| 2026 | 2025 | 2025 | |
|---|---|---|---|
| SEK m | Quarter 1 | Quarter 1 | Full year |
| Provision for litigation and claims 1) | – | – | –42 |
| Impairment of goodwill within segment Europe and Latin America | – | – | –314 |
| M&A related IAC 2) | – | – | 39 |
| Restructuring costs within segment Europe and Latin America | – | –117 | –251 |
| Total items affecting comparability | – | –117 | –568 |
1) Related to the ongoing legal dispute in Denmark. Refer to page 9 as well as Note 28 in the Annual and Sustainability Report 2025 for details.
2) Mainly related to the reversal of earnout provisions.
Note 7 – Cash and cash equivalents
| 2026 | 2025 | 2025 | |
|---|---|---|---|
| SEK m | Mar 31 | Mar 31 | Dec 31 |
| Cash and cash equivalents | 7,822 | 7,622 | 7,491 |
| Adjusted for inventory of cash within the cash processing operations | –3,597 | –3,455 | –3,727 |
| Adjusted for prepayments from customers | –796 | –1,281 | –912 |
| Cash and cash equivalents excluding funds for cash processing activities | 3,429 | 2,886 | 2,853 |
Loomis Interim Report January-March 2026
19
Note 8 – Financial instruments
Fair value estimations
Fair value measurement of financial instruments is performed with guidance from the most reliable market prices available. The fair values of instruments that are listed, for example on the largest bond and interest markets, are measured using the actual spot rates. Conversion of market values to Swedish krona has been performed at the spot rate. For instruments where there is no readily available price on the market, the cash flows have been discounted with the help of a deposit/swap rate for the cash flow currency. Fair values of financial liabilities are calculated by discounting future cash flows with actual market rates for similar financial instruments. The Group's financial assets and liabilities are measured at fair value in accordance with the following hierarchy:
Financial Instruments; reported values by measurement category:
| SEK m | IFRS 9 Category | Mar. 31, 2026
Carrying amount/ Fair value | Dec. 31, 2025
Carrying amount/ Fair value |
| --- | --- | --- | --- |
| Financial assets | | | |
| Interest-bearing financial fixed assets | 1 | 5 | 11 |
| Accounts receivable | 1 | 3,647 | 3,478 |
| Interest-bearing financial current assets | 2 | 34 | 16 |
| Liquid funds^{1)} | 1 | 3,429 | 2,853 |
| Financial liabilities | | | |
| Current loans payable | 4 | 199 | 128 |
| Current loans payable | 3 | 2,370 | 2,408 |
| Long-term loans payable | 4 | 34 | 32 |
| Long-term loans payable | 3 | 10,918 | 10,667 |
| Accounts payable | 3 | 1,206 | 1,086 |
1) Excluding liquid funds in the cash processing operations. For more information about funds in the cash processing operations, refer to Note 7 Liquid funds.
Categories of financial instruments
- Financial assets at amortized cost
- Financial assets at fair value through profit or loss
- Financial liabilities at amortized cost
- Financial liabilities at fair value through profit or loss
Loomis' financial instruments are measured in accordance with the following levels:
- Level 1: Fair value is based on quoted prices on an active market for identical assets or liabilities.
- Level 2: Fair value is based on inputs other than what is available under level 1. Measurement of assets and liabilities is based on direct or indirect market data such as interest rates and currency rates.
- Level 3: Measurement of assets and liabilities is based entirely on unobservable market data.
| SEK m | Mar. 31, 2026 | |||
|---|---|---|---|---|
| Level 1 | Level 2 | Level 3 | Total | |
| Financial assets | ||||
| - Derivative instruments held for trading | - | 1 | - | 1 |
| - Derivative instruments used for hedging | - | - | - | - |
| Total assets | - | 1 | - | 1 |
| SEK m | Mar. 31, 2026 | |||
| --- | --- | --- | --- | --- |
| Level 1 | Level 2 | Level 3 | Total | |
| Financial liabilities | ||||
| - Derivative instruments held for trading | - | 25 | - | 25 |
| - Derivative instruments used for hedging | - | 41 | - | 41 |
| - Deferred consideration | - | - | 166 | 166 |
| Total liabilities | - | 67 | 166 | 233 |
Loomis Interim Report January-March 2026
Note 9 - Transactions with related parties
Transactions between Loomis and related parties are described in Note 31 of the 2025 Annual Report. There have been no transactions with related parties during the period that have materially impacted the Company's earnings and financial position.
Note 10 - Number of shares as of March 31, 2026
| No. of shares | No. of votes | Quota value | SEK m | |
|---|---|---|---|---|
| Shares | 68,500,000 | 68,500,000 | 5 | 376 |
| Total no. of shares | 68,500,000 | 68,500,000 | 376 | |
| Total treasury shares 1) | -1,577,753 | -1,577,753 | ||
| Total no. of shares outstanding | 66,922,247 | 66,922,247 |
1) Loomis has not repurchased any shares during quarter 1, 2026.
Note 11 - Contingent liabilities, group
| 2026 | 2025 | 2025 | |
|---|---|---|---|
| SEK m | Mar 31 | Mar 31 | Dec 31 |
| Guarantees and other commitments | 2,767 | 2,268 | 2,718 |
For details of the Group's contingent liabilities, see Note 28 in the Annual and Sustainability Report 2025.
Loomis Interim Report January-March 2026
Key ratios
| 2026 | 2025 | 2026 | 2025 | |
|---|---|---|---|---|
| Quarter 1 | Quarter 1 | R12 | Full year | |
| Currency-adjusted growth, % | 9.3 | 4.5 | 7.2 | 6.0 |
| Organic growth, % | 5.9 | 4.4 | 4.4 | 4.0 |
| Total growth, % | -2.3 | 5.7 | -1.9 | -0.1 |
| Gross margin, % | 29.6 | 28.0 | 29.2 | 28.8 |
| Selling and administration expenses a % of total revenue | -17.4 | -16.9 | -16.8 | -16.6 |
| Operating margin (EBITA), % | 12.6 | 11.6 | 12.9 | 12.7 |
| Tax rate, % | 30.0 | 28.1 | 33.6 | 33.5 |
| Net margin, % | 7.1 | 5.0 | 5.7 | 5.2 |
| Return on equity, %3) | 13.8 | 12.7 | 13.8 | 12.5 |
| Return on capital employed, %1) | 16.7 | 16.1 | 16.7 | 16.3 |
| Equity ratio, % | 33.7 | 34.4 | 33.7 | 32.4 |
| Cash and cash equivalents excluding funds within cash processing operations (SEK m) | 3,429 | 2,886 | 3,429 | 2,853 |
| Net debt (SEK m) | 10,322 | 9,873 | 10,322 | 10,699 |
| Net debt/EBITDA | 1.49 | 1.46 | 1.49 | 1.55 |
| Cash flow from operating activities2) as % of operating income (EBITA) | 84 | 101 | 95 | 99 |
| Investments in relation to depreciation 3) | 0.8 | 0.8 | 0.9 | 0.9 |
| Investments as % of total revenue | 4.0 | 4.5 | 4.5 | 4.6 |
| Basic earnings per share, SEK | 7.91 | 5.57 | 25.60 | 23.29 |
| Equity per share, SEK | 193.81 | 190.00 | 193.81 | 179.33 |
| Cash flow from operating activities per share, SEK | 18.85 | 15.82 | 72.08 | 67.69 |
| Dividend per share, SEK | - | - | 14.00 | 14.00 |
| Number of shares outstanding (millions) | 66.9 | 68.5 | 66.9 | 66.9 |
| Average number of shares outstanding before dilution (millions) | 66.9 | 68.5 | 67.6 | 67.9 |
1) Return ratios are calculated on R12.
2) Excluding IFRS 16 effects.
3) Historically calculated on cash flow including IFRS 16 effects, adjusted to be calculated on cash flow excluding IFRS 16 effects. Comparable figures have been restated for quarter 1, 2025.
Loomis Interim Report January–March 2026
22
Parent Company
Parent company summary statement of income
| 2026 | 2025 | 2025 | |
|---|---|---|---|
| SEK m | Quarter 1 | Quarter 1 | Full year |
| Revenue | 300 | 291 | 1,095 |
| Operating income (EBIT) | 133 | 128 | 343 |
| Income after financial items | 110 | 85 | 1,961 |
| Net income for the period | 87 | 67 | 1,940 |
The Parent Company's revenue consists mainly of revenue from subsidiaries in the form of management, trademark and IT fees.
Parent company condensed balance sheet
| 2026 | 2025 | 2025 | |
|---|---|---|---|
| SEK m | Mar 31 | Mar 31 | Dec 31 |
| Non-current assets | 12,637 | 8,649 | 8,922 |
| Current assets | 4,204 | 7,099 | 7,494 |
| Total assets | 16,841 | 15,748 | 16,416 |
| Equity | 6,886 | 6,494 | 6,790 |
| Untaxed reserves | 1 | 1 | 1 |
| Non-current liabilities | 6,201 | 6,680 | 6,076 |
| Current liabilities | 3,753 | 2,573 | 3,550 |
| Total equity and liabilities | 16,841 | 15,748 | 16,416 |
The Parent Company's non-current assets consist mainly of shares in subsidiaries. The liabilities are mainly external liabilities and liabilities to subsidiaries.
Contingent liabilities, parent company
| 2026 | 2025 | 2025 | |
|---|---|---|---|
| SEK m | Mar 31 | Mar 31 | Dec 31 |
| Guarantees and other commitments | 8,527 | 8,010 | 9,060 |
Loomis Interim Report January–March 2026
23
Alternative performance measures
Use of alternative performance measures
To support Group Management and other stakeholders in analyzing the Group's financial performance, Loomis reports certain performance measures that are not defined under IFRS. Group Management believes that this information facilitates analysis of the Group's performance. The Loomis Group primarily uses the following alternative performance measures (see also Definitions for a full list of measures):
- Currency-adjusted growth and Organic growth in sales
- Operating income (EBITA) and Operating margin (EBITA), %
- Cash flow from operating activities as % of operating income (EBITA)
- Net debt and Net debt/EBITDA
- Equity ratio, %
- Capital employed and Return on capital employed
- Return on equity
Cash flow from operating activities as % of operating income (EBITA)
Loomis' main measure of cash flow (cash flow from operating activities) focuses on the current cash flow from operating activities based on EBITA adding back amortization/depreciation and the effect of changes in trade receivables, as well as changes in other working capital and other items. Cash flow from operating activities reflects the cash flow that operating activities generate before payments of financial items, income tax, items affecting comparability, acquisitions and divestments, as well as dividends and changes in the Group's net debt. Cash flow from operating activities as a percentage of operating income (EBITA) illustrates the cash conversion that Loomis has, i.e. how recognized earnings have resulted in cash flow.
Loomis provides an alternative presentation of cash flow which includes cash flow from operating activities adjusted for the impact of IFRS 16 Leases. This is presented in the section Financial Reports in this report.
Currency-adjusted growth and Organic growth in sales
Since Loomis generates most of its revenue in currencies other than the reporting currency (i.e. Swedish kronor, SEK) and exchange rates have historically proved to be relatively volatile, and since the Group has made a number of acquisitions, sales growth is presented both as exchange rate adjusted and adjusted for both exchange rate fluctuations and effects from acquisitions. This makes it possible to analyze and explain growth, excluding exchange rate effects and acquisitions.
| SEK m | Quarter 1 | Quarter 1 | Growth | Growth, % |
|---|---|---|---|---|
| Recognized revenue | 7,491 | 7,665 | -174 | -2.3 |
| Organic growth | 450 | 5.9 | ||
| Revenue, acquisitions | 261 | 3.4 | ||
| Currency-adjusted growth | 711 | 9.3 | ||
| Exchange rate effects | -886 | -11.6 |
Operating income (EBIT) before items affecting comparability, Operating income (EBITA) and Operating margin (EBITA), %
Loomis' internal control of operating activities is focused on the operating income that is created within and can be impacted by local operating activities. For this reason Loomis has chosen to focus on earnings and margins before interest, taxes, amortization of acquisition-related intangible assets, acquisition-related costs and revenue, and items affecting comparability.
| SEK m | Quarter 1 | Quarter 1 | Full year |
|---|---|---|---|
| Operating income (EBIT) | 896 | 706 | 3,029 |
| Adding back items affecting comparability | - | 117 | 568 |
| Operating income (EBIT) before items affecting comparability | 896 | 823 | 3,597 |
| Adding back acquisition-related costs | 16 | 29 | 110 |
| Adding back amortization of acquisition-related intangible assets | 34 | 34 | 144 |
| Operating income (EBITA) | 946 | 886 | 3,851 |
| Calculation of operating margin (EBITA), % | |||
| EBITA | 946 | 886 | 3,851 |
| Total revenue | 7,491 | 7,665 | 30,427 |
| EBITA/Total revenue, % | 12.6 | 11.6 | 12.7 |
Loomis Interim Report January-March 2026
24
Alternative performance measures
Net debt and Net debt/EBITDA
Net debt is an important concept for understanding a Company's financing structure and leverage. Net debt is the net of interest-bearing liabilities and assets, and is used together with equity to finance the Group's capital employed. Loomis excludes funds within cash processing operations and financing of funds within cash processing operations (stock funding) from the definition of net debt. The financial leverage is measured by calculating net debt as percentage of operating income after adding back amortization and depreciation, i.e. net debt/EBITDA.
Reconciliation of Net debt and calculation of Net debt/EBITDA
| 2026 | 2025 | 2025 | |
|---|---|---|---|
| SEK m | Mar 31 | Mar 31 | Dec 31 |
| Short-term loans | 802 | 26 | 783 |
| Long-term loans | 6,117 | 6,837 | 6,081 |
| Total loans payable | 6,919 | 6,863 | 6,864 |
| Cash and cash equivalents excluding funds in cash processing operations | -3,429 | -2,886 | -2,853 |
| Other interest-bearing assets | -39 | -724 | -26 |
| Financial net debt | 3,450 | 3,253 | 3,985 |
| Lease liabilities | 6,602 | 6,383 | 6,371 |
| Pension net, assets (-) liabilities (+) | 270 | 237 | 343 |
| Net debt | 10,322 | 9,873 | 10,699 |
| 2026 | 2025 | 2025 | |
| --- | --- | --- | --- |
| SEK m | Quarter 1 | Quarter 1 | Full year |
| Operating income (EBITA), R12 | 3,911 | 3,774 | 3,851 |
| Adding back depreciation/amortization, R12 | 3,021 | 3,009 | 3,042 |
| EBITDA, R12 | 6,932 | 6,783 | 6,894 |
| Net debt/EBITDA (times) | 1.49 | 1.46 | 1.55 |
Equity ratio, %
The equity ratio is a measure that shows the ratio of equity financing in relation to the company's total assets. The measure is used as an indication of financial strength and resilience to losses.
Reconciliation equity ratio, %
| 2026 | 2025 | 2025 | |
|---|---|---|---|
| SEK m | Mar 31 | Mar 31 | Dec 31 |
| Equity | 12,970 | 13,012 | 12,001 |
| Total assets | 38,480 | 37,869 | 37,037 |
| Equity ratio, % | 33.7 | 34.4 | 32.4 |
Capital employed and Return on capital employed, %
Capital employed is a measure of how much capital is tied up in operating activities and is therefore expected to generate returns in the form of operating income. Capital employed is equivalent to the sum of all financing in the form of net debt and equity. Loomis includes funds within cash processing operations and financing of funds within cash processing operations (stock funding) in the definition of capital employed.
Reconciliation of capital employed and return on capital employed, %
| 2026 | 2025 | 2025 | |
|---|---|---|---|
| SEK m | Mar 31 | Mar 31 | Dec 31 |
| Non-current assets | |||
| Goodwill | 8,856 | 8,918 | 8,629 |
| Acquisition-related intangible assets | 791 | 687 | 799 |
| Other intangible assets | 806 | 693 | 790 |
| Land and buildings | 1,081 | 1,083 | 1,050 |
| Machinery and equipment | 4,760 | 5,041 | 4,708 |
| Right-of-use assets | 6,113 | 5,978 | 5,911 |
| Other operating assets1) | 1,407 | 1,175 | 1,304 |
| Current assets | |||
| Inventory | 663 | 448 | 587 |
| Trade receivables | 3,647 | 3,253 | 3,478 |
| Other operating assets2) | 2,227 | 1,969 | 2,060 |
| Funds in cash processing operations | 4,393 | 4,736 | 4,639 |
| Non-current liabilities | |||
| Deferred tax liability | -412 | -242 | -381 |
| Provisions for claims reserves | -635 | -629 | -515 |
| Other provisions | -251 | -194 | -234 |
| Other non-current liabilities | -374 | -348 | -345 |
| Current liabilities | |||
| Trade payables | -1,206 | -896 | -1,086 |
| Liabilities in cash processing operations | -4,361 | -4,706 | -4,612 |
| Accrued expenses and deferred income | -2,508 | -2,143 | -2,250 |
| Other operating liabilities3) | -1,704 | -1,938 | -1,832 |
| Capital employed | 23,292 | 22,885 | 22,700 |
| Capital employed (average) | 23,379 | 23,442 | 23,576 |
| Operating income (EBITA), R12 | 3,911 | 3,774 | 3,851 |
| Return on capital employed, % | 16.7 | 16.1 | 16.3 |
1) Includes the items Contract assets, Deferred tax assets and Other non-current receivables.
2) Includes the items Other current receivables, Current tax assets, and Prepaid expenses and accrued income.
3) Includes the items Provisions for claims reserves, Current tax liabilities, Other provisions and Other current liabilities.
Return on equity
Return on equity is an important concept for understanding a Company's return on the capital that the shareholders have injected and earned. The return is calculated as earnings for the period (rolling 12 months) in relation to average equity for the period.
| 2026 | 2025 | 2025 | |
|---|---|---|---|
| SEK m | Quarter 1 | Quarter 1 | Full year |
| Net income for the period, R12 | 1,730 | 1,664 | 1,582 |
| Equity (average) | 12,513 | 13,141 | 12,645 |
| Return on equity, % | 13.8 | 12.7 | 12.5 |
Loomis Interim Report January-March 2026
Definitions
| Gross margin, % | Gross income as a percentage of total revenue. |
|---|---|
| Operating income (EBITA) | Earnings Before Interest, Taxes, Amortization of acquisition-related intangible assets, Acquisition-related costs and revenue and items affecting comparability. |
| Operating margin (EBITA), % | Earnings Before Interest, Taxes, Amortization of acquisition-related intangible 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 assets, Acquisition-related costs and revenue and items affecting comparability. |
| Operating income (EBIT) | Earnings Before Interest and Taxes. |
| Operating income (EBIT before items affecting comparability) | Earnings Before Interest, Taxes and items affecting comparability. |
| Items affecting comparability | Items affecting comparability are reported events and transactions whose effects on profit and loss are important to note when the period's results are compared with previous periods, such as capital gains and losses on disposals of significant cash generating units, material impairment losses or other significant items affecting comparability. |
| Currency-adjusted growth, % | Increase in revenue for the period, adjusted for changes in exchange rates, as a percentage of the previous year's revenue. Also referred to as currency-adjusted growth. |
| Organic growth, % | Increase in revenue for the period, adjusted for acquisition/divestments and changes in exchange rates, as a percentage of the previous year's revenue adjusted for divestments. |
| 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. |
| Basic earnings per share | Net income for the period in relation to the average number of shares outstanding during the period. |
| Diluted earnings per share | Net income for the period in relation to the average number of shares outstanding after dilution during the period. |
| Cash flow from operations per share | Cash flow from operations for the period in relation to the number of shares after dilution. |
| Investments in relation to depreciation | Net investments in non-current assets, for the period, in relation to depreciation, excluding IFRS 16 effects. |
| Investments as % of total revenue | Net investments in non-current assets for the period as a percentage of total revenue. |
| Equity per share | Equity in relation to the number of shares outstanding before dilution. |
| Cash flow from operating activities as % of operating income (EBITA) | Operating income, EBITA, (excluding IFRS 16), adjusted for depreciation (excluding IFRS 16), changes in trade receivables and other items (excluding IFRS 16) and net investments in non-current assets as a percentage of operating income, EBITA. |
| Return on equity, % | Net income for the period (rolling 12 months) as a percentage of the average balance of equity. |
| Return on capital employed, % | Operating income EBITA (rolling 12 months) as a percentage of the average balance of capital employed. |
| Equity ratio, % | Equity as a percentage of total assets. |
| Capital employed | Equity with the addition of net debt. |
| Net debt | Interest-bearing liabilities less interest-bearing assets and cash and cash equivalents excluding funds for cash processing activities. |
| Net debt/EBITDA | Net debt as percentage of operating income after adding back depreciation and amortization. |
| R12 | Rolling 12 months. |
| Scope 1 | Greenhouse Gas (GHG) emissions from sources that an organization own or controls directly. |
| Scope 2 | Greenhouse Gas (GHG) emissions that an organization causes indirectly when the energy it purchases, and uses is produced. |
| Recordable work-related injury rate | The number of work-related injuries that arise from exposure to hazards at work, resulting in fatalities, days away from work, restricted work or transfer to another job, medical treatment beyond first aid, loss of consciousness, fractures or other work-related chronic irreversible conditions per million of hours worked. |
| 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 Interim Report January–March 2026
26
Outlook
The company is not providing any forecast information for 2026.
Stockholm, May 7, 2026
Aritz Larrea
President and CEO
This interim report has not been subject
to a review by the Company's auditors
Loomis Interim Report January–March 2026
27
Loomis in brief
Financial targets 2025–2027
- Revenue: Compounded annual growth rate, currency adjusted, of 5–7 percent per year
- Operating margin EBITA: 12–14 percent during the entire strategic period
Sustainability targets 2025–2027
- Reduction of CO₂e (scope 1 and 2) by 34 percent compared with 2019
- Reduction of the recordable work-related injury rate by 10 percent compared with 2024
Dividend policy
- 40–60 percent of net income for the year
Operations
Loomis offers secure and efficient high-security logistics and comprehensive payments management, including transportation, processing and storage of cash and valuables. The company serves financial institutions, retailers, and governmental authorities globally. Loomis employs 24,000 people, operates around 400 branches in more than 25 countries, and had revenue of more than SEK 30 billion in 2025. Loomis AB is listed on the Nasdaq Stockholm Large-Cap list.
Telephone conference and audiocast
A conference call will be held on May 7, 2026 at 10:00 a.m. (CEST).
To follow the conference call via telephone and participate in the Q&A session please call (local call):
United Kingdom: +44 (0) 161 2508 206
USA: +1 (0) 561 771 1427
Sweden: +46 (0)8 505 100 39
International: +39 02 304 64 867
The audiocast can be followed at our website www.loomis.com.
A recorded version of the audiocast will be available at www.loomis.com after the conference.
Upcoming reporting dates
| Interim Report | January–June 2026 | July 24, 2026 |
|---|---|---|
| Interim Report | January–September 2026 | October 30, 2026 |
For further information
Jenny Bostrom, Head of Sustainability and IR, +46 (0)79 006 45 92, e-mail: [email protected]
Further information can also be found on 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 person set out above, at 07:30 a.m. (CEST) on May 7, 2026.
LOOMIS
Loomis AB (publ.) Corporate Identity Number 556620-8095, PO Box 702, SE-101 33 Stockholm, Sweden.
Telephone: +46 8-522 920 00, www.loomis.com