Loomis AB (LOOMIS.ST): 2Q’26 preview: Focus on growth trajectory and margin progression

研报英文原文证据摘录

Loomis AB (LOOMIS.ST): 2Q’26 preview: Focus on growth trajectory and margin progression

Equity Research

15 June 2026 | 6:31PM BST

Loomis AB (LOOMIS.ST): 2Q’26 preview: Focus on growth trajectory and

margin progression

Ahead of Loomis’s 2Q’26 earnings release on July 24th, we update our estimates to Suhasini Varanasi

+44(20)7774-3722 |

incorporate recent FX moves and operating changes. We expect near-term organic suhasini.varanasi@gs.com

Goldman Sachs International

growth to hold steady at c.6% for 2Q’26 (in line with 1Q’26), helped by continuing

Harshita Bhatter, CFA

tailwinds in the International and FX divisions, but expect it to moderate to c.4% in +1(332)245-7830 |

2H’26 as these temporary benefits subside. We believe the company’s focus on harshita.bhatter@gs.comGoldman Sachs India SPL

margins through restructuring efforts within Europe and Latin America as well as the

continued solid execution in the US should help support a steady expansion through

the year, helping drive strong profit growth.

Over the medium term, we view Loomis as a highly resilient business capable of

delivering a 4% organic revenue CAGR over 2026-30 - we see this resilience linked to

the company’s diversification efforts (e.g. Safepoints) which has enabled it to grow

well despite concerns around cash usage in society. When combined with strategic

M&A, share buybacks, and steady margin expansion, we see the topline growth

supporting high-single to low-double-digit EPS CAGR.

At current levels, the stock trades at c.13x 2026E P/E and c.12x 2027E P/E, broadly

inline with its historical 10-year median multiple of c.12x. As such we see the

risk-reward as fairly balanced at current levels.

Estimate Changes

We make minor changes to our estimates, mainly reflecting lower FX headwinds for