Securitas AB Interim Report January–June 2008
Thursday, August 07, 2008
• Total sales MSEK 31,578 (30,800)
• Income before taxes MSEK 1,409 (1,097)
• Items affecting comparability MSEK 0 (–195)
• Net income after tax MSEK 1,040 (465)
• Earnings per share SEK 2.85 (1.27)
COMMENTS FROM THE PRESIDENT AND CEO
“The organic sales growth in the Group was 6 percent (5). The guarding operations showed continued good organic sales growth in the USA as well as in Europe. The organic sales growth in Security Services North America remains in the 4 percent range. Our growth in the US is presently in line with the market which is showing signs of lower growth. The organic sales growth of 8 percent in Security Services Europe was positively impacted by the European Football Championship and the leap-day in February. The inflation in Europe is increasing and thus the necessity of price adjustments remains a focus area.
The operating margin increased to 5.5 percent (5.2) in the first six months and to 5.6 percent (5.0) in the second quarter. The improvement in the operating margin is primarily driven by Security Services North America and by Loomis.
In Loomis, the operating margin was 5.7 percent (5.1). Adjusted for the sold Loomis Cash Management (LCM) business in the United Kingdom, the operating margin was 6.9 percent in the first half 2007. The reduced operating margin in Loomis, when excluding LCM from the comparatives, is primarily due to the US and UK operations, where actions have been taken in order to improve the profitability. However, the operating margin is improving quarter by quarter and Loomis is on route to an operating margin of at least 8 percent at the latest in 2010. Loomis is expected to be listed on the OMX Nordic Exchange in December 2008.”
President and Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT:
Alf Göransson, President and CEO,
+46 10 470 3000
Gisela Lindstrand, Senior Vice President
Corporate Communications and Public Affairs,
+46 10 470 3011
Micaela Sjökvist, Head of Investor Relations,
+46 10 470 3013
An information meeting will be held on August 7, 2008, at 9.30 a.m. CET.
The information meeting will take place at Securitas’ head office, Lindhagensplan 70, Stockholm.
To follow the information meeting via telephone (and participate in Q&A session), please register via the link https://eventreg3.conferencing.com/webportal3/reg.html?Acc=906716&Conf=457424
and follow instructions, or call +44 (0)20 7162 9961 or +46 (0) 8 505 203 37.
The meeting will be webcasted at www.securitas.com
A recorded version of the web cast will be available on Securitas’ website after the information meeting and a telephone recorded version of the information meeting will be available until August 8 on: +44 (0)20 7031 4064 and +46 (0)8 505 203 33, access code: 805237.
Securitas AB discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication
at 8.00 a.m. (CET) on Thursday, August 7, 2008.