Cash Industry Leaders – What a Difference a Year Makes

January and February are when six of the leading listed companies in cash report their annual results for the previous year. The time last year, all but one reported strong results and optimistic outlooks.

But, as the saying goes, ‘that was then, this is now’ and the pandemic has taken its toll on all of them. That said, all have shown remarkable resilience given the overall picture of lower consumer activity and cash usage.

Loomis – US better than Europe

Loomis’ year, unsurprisingly, was negatively impacted by COVID-19.

Revenue for 2020 of SEK 18.8 billion was 10.6% lower than in 2019 and operating profit (EBITA) fell by 31.7% to SEK 1.7 billion, resulting in the operating margin falling from 12.4% to 9.4%. Pre tax income fell by 50.4% to SEK 1 billion.