Securitas AB Interim Report January–March 2008
Wednesday, May 07, 2008
• Total sales amounted to MSEK 15,662 (15,218)
• Income before taxes amounted to MSEK 669 (694)
• Net income after tax amounted to MSEK 494 (518)
• Earnings per share amounted to SEK 1.35 (1.41)
COMMENTS FROM THE PRESIDENT AND CEO
“Income before taxes of MSEK 669 was an improvement compared to last year, considering the net positive impact from items affecting comparability of MSEK 24 last year and the weak US dollar. Since Easter occured the first quarter this year, higher costs for wages have also burdened the result.
In Security Services North America the organic sales growth remains in the 4 percent range, even though it reached 5 percent in the quarter because of the leap-day this year. The operating margin improved to 5.2 percent (5.0) as a result of a continued focus on profitability in the division.
Security Services Europe continued to show high organic sales growth, 8 percent (8). The operating margin in the first quarter was negatively impacted by increased costs for wages during Easter. A growing concern in most countries in Europe is the high inflation on wages, which requires more focus on pricing during 2008 which in turn could slow down the organic sales growth.
The operating margin in Loomis was flat compared to last year. Adjusted for the sold LCM business in the United Kingdom, the operating margin decreased by 1.5 percentage points. This is primarily due to a weak start in the USA and in the UK, for which actions have been taken in the quarter. However, the development in Loomis is on route to an operating margin of at least 8 percent at the latest in 2010 and 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 May 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
and follow instructions, or call +44 (0)20 7162 0125 or +46 (0) 8 505 201 14.
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 May 9 on: +44 (0)20 7031 4064 and +46 (0)8 505 203 33, access code: 792499.
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 Wednesday, May 7, 2008.