Securitas AB Full Year Report January – December 2007
• Total sales amounted to MSEK 62,908 (60,523)
• Income before taxes amounted to MSEK 1,397 (883)
• Net income after tax amounted to MSEK 526 (513)
• Earnings per share amounted to SEK 1.44 (1.41)
• Total impact from impairment losses of goodwill and items affecting comparability amounted to MSEK -1,068 (-2,060)
• Proposed dividend SEK 3.10 (3.10)
Comments from the President and CEO, Alf Göransson:
“The fourth quarter in the Security Services businesses showed continued good organic sales growth and stable operating margins.
In Security Services North America the organic sales growth increased in the fourth quarter, 5 percent compared to 3 percent in the fourth quarter 2006, as a result of several large new contracts starting up in the quarter. The strategy to primarily focus on profitability resulted in a continued positive development of the operating margin during the year.
Security Services Europe continued to show high organic sales growth, 8 percent compared to 7 percent for the full year 2006, and a stable operating margin. New contracts were, however, coming in at a lower gross margin than the average contract portfolio, and this therefore remains a focus area and is addressed in the strategic plan rolled out throughout the Securitas Group during the second half of 2007.
Securitas result is negatively impacted by the problems Loomis has been facing during the year, primarily the Loomis Cash Management (LCM) operation in the United Kingdom. LCM sold its assets and operation to Vaultex UK Ltd owned by HSBC Bank and Barclays Bank on November 24, 2007. The result of the final stock take of all cash meant that no further provisions for historic variances were necessary beyond the provision of MSEK 824 established as of December 31, 2006. Related to the sale of the fixed assets and operations, a provision of MSEK 160 was made in the fourth quarter. Securitas has also made a total provision for non-compliant declarations under the Note Circulation Rules of MSEK 375, including the previous made provision of MSEK 206, for possible additional claims and related costs. The final amount is under discussion between Securitas and the Bank of England.”
For further information, please contact:
Alf Göransson, President and CEO, +46 8 657 7400
Gisela Lindstrand, Senior Vice President Corporate Communications and Public Affairs, +46 8 657 7332
Micaela Sjökvist, Head of Investor Relations, +46 8 657 7443
An information meeting will be held on February 12, 2008, at 9.30 a.m. CET. The information meeting will take place at Securitas’ head office, Lindhagensplan 70, Stockholm.
To follow the presentation via telephone (and participate in the Q&A session), please register in advance via the link
https://eventreg2.conferencing.com/webportal3/reg.html?Acc=226943&Conf=183741 and follow the instructions or call +44 (0)20 7162 0125.
The meeting will be web casted at www.securitas.com
For a recorded version of the information meeting please call +44 (0)20 7031 4064 and +46 (0)8 505 203 33, access code: 780257
The full report including tables can be downloaded from the enclosed link.
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 Tuesday, February 12, 2008.