The Gabelli International Small Cap Fund on Loomis AB
Thesis
Loomis holds number one or number two positions in the cash-in-transit and cash-management markets where it operates. Gabelli sees steady earnings growth from volume, efficiency, mix, and the company's ability to pass through inflation. Acquisitions, precious-metals logistics, strong cash generation, and an inexpensive valuation support attractive medium-term shareholder returns.
“Coupled with strong cash generation and inexpensive shares, we see scope for attractive shareholder returns in the medium term.”
Key risks
- Oil-price inflation from the Iran War