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Securitas AB Interim Report Q1 2024 January–March

08 May 2024 08:00

January–March 2024

  • Total sales MSEK 39 260 (37 751)
  • Organic sales growth 7 percent (12)
  • Real sales growth within technology and solutions 7 percent (77)
  • Operating income before amortization MSEK 2 357 (2 180)
  • Operating margin 6.0 percent (5.8)
  • Earnings per share SEK 1.84 (1.66)
  • Earnings per share before IAC, SEK 2.12 (2.03)
  • Net debt/EBITDA ratio 2.9 (3.3*)
  • Cash flow from operating activities –15 percent (9)

*  The comparative is adjusted and includes STANLEY Security’s 12 months adjusted estimated EBITDA.

Comments from the President and CEO

 “Continued operating margin improvement in line with strategy”

The operating margin improvement continued in the first quarter to 6.0 percent (5.8), driven by a strong performance in our North American operations. Ibero-America also developed well, while Europe was weak primarily due to challenges within the airport security business. The Group’s operating margin improved both in security services and in technology and solutions. 

Organic sales growth was 7 percent. Real sales growth in our technology and solutions business was also 7 percent in the first quarter, negatively impacted by the divestment of Securitas Argentina in July 2023. 

The integration of STANLEY Security continued to progress, realizing further cost synergies although these were partly offset by operational cost increases from the ongoing system and support transitions that are progressing according to plan. Our combined offering is gaining increased interest and appreciation from both existing and new clients, which presents good opportunities for deeper client partnerships and commercial synergies in our business. 

The first quarter is our weakest cash flow quarter due to seasonality. As ­expected, the operating cash flow was lower than last year due to the strong net working capital position at year-end 2023, and as the quarter ended with the Easter holiday impacting collections. We remain with strong cash flow focus across the organization to ensure a strong 2024 outcome.


The overall message at our recent Investor Day in March was how we shape Securitas for long-term sustainable shareholder value. The core to that execution is operational value creation through growth in technology and solutions, security services portfolio profitability, cost efficiency and digital innovation. 

We have invested substantially in our technology capabilities and in the transformation programs in the past few years to support the value creation, and we will continue to invest in a balanced way to ensure that our business has the capability to execute on the strategy. Another part of our strategy execution is to continuously assess our business mix and presence to further sharpen our performance and competitive position. 

I have met with a number of local and global clients in the US, Asia and Europe during the last few months and have received very positive feedback on the new Securitas we are creating. The clients are looking for a security partner with strong presence, tech­nol­ogy and data capabilities. In addition to recent contract wins, the pipeline of commercial opportunities is very promising. We are piloting a new integrated Technology and Guarding services concept for broader roll-out together with one global client. 

The strategic transformation of Securitas is on the right path and we are committed to achieve our target of 8 percent operating margin by the end of 2025. With our strong offering we will solidify our position as the leading security solutions company. 

Magnus Ahlqvist
President and CEO


Analysts and media are invited to participate in a telephone conference on May 8, 2024, at 9.30 a.m. (CEST) where President and CEO Magnus Ahlqvist and CFO Andreas Lindback will present the report and answer questions. The ­telephone conference will also be audio cast live via Securitas’ website

To follow the audio cast of the telephone conference via the web, please follow the link

A recorded version of the audio cast will be available at
after the ­telephone conference.

For further information, please contact:
Micaela Sjökvist, Vice President, Investor Relations + 46 76 116 7443


Securitas is a world-leading safety and security solutions partner that helps make your world a safer place. Almost nine decades of deep experience means we see what others miss. By leveraging technology in partnership with our clients, ­combined with an innovative, holistic approach, we’re transforming the security ­industry. With approximately 341 000 employees in 44 markets, we see a different world and ­create sustainable value for our clients by protecting what matters most – their people and assets.

Group financial targets
Securitas has four financial targets:

  • 8–10 percent technology and solutions annual average real sales growth
  • 8 percent Group operating margin by year-end 2025, with a >10 percent ­long-term operating margin ambition
  • A net debt to EBITDA ratio below 3.0x
  • An operating cash flow of 70–80 percent of operating income before ­amortization

Securitas AB (publ.)
P. O. Box 12307, SE-102 28 Stockholm, Sweden

Visiting address:
Lindhagensplan 70

Telephone: + 46 10 470 30 00 

Corporate registration number: 556302–7241

This is information that Securitas AB is obliged to make public pursuant to the EU Market Abuse Regulation.
The information was submitted for publication, through the agency of the contact person set out above,
at 8.00 a.m. (CEST) on Wednesday, May 8, 2024.


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