Securitas AB Interim Report January–March 2010
4 May 2010
- Total sales MSEK 14,870 (16,425)
- Organic sales growth –1 percent (1)
- Operating margin 5.5 percent (5.3)
- Earnings per share SEK 1.24 (1.40)
- Free cash flow/net debt 0.35 (0.21)
COMMENTS FROM THE PRESIDENT AND CEO
The security industry has proven to be resilient in the recession, and to the extent it has been affected, it tends to be late cyclical. In the slow and fragile recovery in many of the world ¬economies, the demand for security services has not yet increased but it seems to have stabilized at present levels.
The Securitas strategy – to focus on profitability and to differentiate from competition by added value in optimizing the security solutions for the customers – has been ¬successful in different business cycles during the past few years. During the first quarter of 2010 the real improvement of the operating income continued, excluding exchange rate fluctuations, and amounted to 5 percent compared to the same period last year. Operating margins in all business segments were either flat or improved.
The organic sales growth in Security Services North America remained negative and is expected to stay weak during the first half year of 2010, due to reductions and losses of a few large contracts during primarily the second half of last year.
The opportunities for acquisitions continue to be favorable in both mature and new markets and we intend to remain active during 2010 and selectively take advantage of opportunities as they occur.
President and Chief Executive Officer
PRESENTATION OF THE INTERIM REPORT
Analysts and media are invited to participate in a telephone conference at 2 p.m. (CET) where ¬Securitas CEO Alf Göransson will present the report and answer questions. The telephone ¬conference will also be audio cast live via Securitas web. Please note! As the date for the Interim report coincides with the Annual General Meeting, no information meeting will take place at ¬Securitas headquarters at Lindhagensplan in Stockholm.
To follow the telephone conference (and participate in Q&A session), please register via the link:
https://eventreg2.conferencing.com/webportal3/reg.html?Acc=441461&Conf=201211 and follow instructions, or call +44 (0)20 7162 0177 or +46 (0) 8 505 201 14.
To follow the audio cast of the telephone conference via the web, please follow the link www.securitas.com/webcasts
A recorded version of the audio cast will be available at www.securitas.com/webcasts after the telephone conference and a recorded version of the telephone conference will be available until midnight on May 6 on: +44 (0)20 7031 4064 and +46 (0)8 505 203 33, access code: 861100.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Micaela Sjökvist, Head of Investor Relations,
+46 10 470 3013
Gisela Lindstrand, Senior Vice President
Corporate Communications and Public Affairs,
+46 10 470 3011