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Interim Report January - June 2020 Coor Service Management Holding AB

STOCKHOLM, July 17, 2020 /PRNewswire/ -- Second quarter of 2020A A A A 

Net sales in the second quarter amounted to SEK 2,265 (2,556) million. Organic growth was -11 per cent and growth from acquisitions 2 per cent, while exchange rate effects accounted for -2 per cent.



Adjusted EBITA amounted to SEK 141 (140) million and the operating margin was 6.2 (5.5) per cent.



EBIT was SEK 86 (78) million. Profit after tax was SEK 52 (44) million.



Earnings per share were SEK 0.5 (0.5).



Operating cash flow was SEK -11A (38) million. There was a negative impact during the quarter from a strong drop in cash payments from restaurant guests. Cash conversion for the most recent 12-month period amounted to 107 (100) per cent.



Leverage in relation to adjusted EBITDA was 2.2 (2.7).

First half of 2020

Net sales in the first half of the year amounted to SEK 4,806 (5,091) million. Organic growth was -7 per cent and growth from acquisitions 2 per cent, while exchange rate effects accounted for -1 per cent.



Adjusted EBITA amounted to SEK 263 (271) million and the operating margin was 5.5 (5.3) per cent.



EBIT was SEK 147 (154) million. Profit after tax was SEK 83 (87) million.



Earnings per share were SEK 0.9 (0.9).



Operating cash flow was SEK 173 (162) million.



The first half of the year was marked by the spread of COVID-19 in the Nordic region, which had a negative impact on the company. For a summary of the impact of and Coor's actions linked to COVID-19, refer to page 3 in the report.



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