Coor Service Management (COOR) investor relations material

Executive summary

• Q3 net sales were SEK 3,007m, broadly flat YoY; organic growth was -1.5%, with Danish contract losses offset by growth in Sweden and Finland.

• Adjusted EBITA rose 12% to SEK 149m and margin improved to 5.0% from 4.5%; Sweden delivered an all-time-high Q3 EBITA.

• Customer satisfaction reached 74 from 72, above the 70 target; customer NPS reached an all-time high.

Financial highlights

• Q3 net sales were SEK 3,007m versus SEK 3,005m; organic growth was -1.5% and FX contributed 1.6%.

• Q3 adjusted EBITA was SEK 149m versus SEK 134m; adjusted EBITA margin was 5.0% versus 4.5%.

• Q3 EBIT was SEK 101m versus SEK 98m; profit after tax was SEK 48m versus SEK 43m, and EPS was SEK 0.50 versus SEK 0.45.

• Jan–Sep net sales fell 1.3% to SEK 9,139m; adjusted EBITA increased to SEK 486m from SEK 443m and profit after tax rose to SEK 204m from SEK 158m.

• Q3 items affecting comparability were SEK 40m versus SEK 21m, including a SEK 27m Danish arbitration charge.

Outlook and guidance

• Positive development is expected to continue in Sweden, Finland and Norway; Denmark remains focused on stabilization, customer retention and restoring organic growth.

• Danish contract-loss effects are expected to weigh on Q4 and early-next-year comparisons; no specific forecast was provided.

• Priorities include cross-selling and upselling, new sales, productivity, efficient resource planning and scheduling, and gradual margin improvement.

• Mid-to-long-term targets: 4–5% organic growth over a business cycle, ~5.5% adjusted EBITA margin, cash conversion above 90%, leverage below 3.0x and dividends of ~50% of adjusted net profit.