Loomis reorganizes segment International
Since the acquisition of VIA MAT in 2014 Loomis has managed and reported its business in three separate segments; Europe, USA, and International. In order to enhance future growth opportunities and create further cost synergies, segment International will no longer be a separate segment. The new organization will become effective January 1, 2019. As a result of the new organization, financial data for segment International will not be separately reported starting the first quarter of 2019.
International’s American operations will be included in segment USA and all other operations will be part of segment Europe. The Regional President for USA and the Regional President for Europe will be responsible for the respective operations.
For the period January to September 2018 the revenues for International were approximately 5 percent of the revenues of the group and the operating result (EBITA) was approximately 3 percent of the group’s operating result.
Loomis offers safe and effective comprehensive solutions for the distribution, handling, storage, and recycling of cash and other valuables. Loomis customers are banks, retailers, and other operators. Loomis operates through an international network of more than 400 branches in more than 20 countries. Loomis employs around 24,000 people and had revenue in 2017 of SEK 17.2 billion. Loomis is listed on Nasdaq Stockholm Large-Cap list.
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