Securitas AB Full Year Report January–December 2010
OCTOBER–DECEMBER 2010<br/><br/><br/><br/>Total sales MSEK 15,718 (15,233)<br/><br/><br/><br/>Organic sales growth 4 percent (–2)<br/><br/><br/><br/>Operating margin 6.7 percent (7.0)<br/><br/><br/><br/>Earnings per share SEK 1.60 (1.67)<br/><br/><br/><br/>JANUARY–DECEMBER 2010<br/><br/><br/><br/>Total sales MSEK 61,340 (62,667)<br/><br/><br/><br/>Organic sales growth 1 percent (–1)<br/><br/><br/><br/>Operating margin 6.1 percent (6.0)<br/><br/><br/><br/>Earnings per share SEK 5.71 (5.80)<br/><br/><br/><br/>Free cash flow/net debt 0.24 (0.26)<br/><br/><br/><br/>Proposed dividend SEK 3.00 (3.00)
COMMENTS FROM THE PRESIDENT AND CEO
The security services market is recovering, even though the development in a few countries in Europe remains stagnant. In the fourth quarter organic sales growth was 4 percent. Including acquisitions, the real sales growth was 10 percent in the final quarter of 2010.
In 2010 the real improvement in operating income continued and reached 6 percent. The operating margin improved compared to previous year, in spite of a few major acquisitions diluting the margin during the latter part of 2010.
During 2010 we have made 15 major acquisitions with total annual sales of approximately MSEK 4,100 and 19,500 employees. Among others, the acquisition of Reliance in the United Kingdom was closed in the fourth quarter. The agreement to acquire Chubb in the United Kingdom was recently signed, subject to customary closing conditions and approval from the United Kingdom Office of Fair Trading. Favorable acquisition opportunities continue to present themselves in both mature and new markets and we intend to remain active and selectively take advantage of such opportunities as they arise.
Through acquisitions and start ups, Securitas is now present in 45 countries and we intend to strengthen our position in the countries we are, but also continue to expand geographically in order to serve our global customers, with the target to be present in approximately 60 countries within three years.
President and Chief Executive Officer
PRESENTATION OF THE INTERIM REPORT
An information meeting will be held on February 8, 2011, at 9.30 a.m. CET.
The information meeting will take place at Securitas‘ head office, Lindhagensplan 70, Stockholm.
The meeting will be webcast at www.securitas.com/webcasts
To participate in the telephone conference during the information meeting, please dial in five minutes prior to the start of the conference call, from:
The United States: + 1 866 458 40 87
Sweden: + 46 (0) 8 505 598 53
United Kingdom: + 44 (0) 203 043 24 36
A recorded version of the webcast will be available at www.securitas.com/webcasts after the meeting.
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
Securitas is a knowledge leader in security, focusing on providing security solutions to fit each customer‘s needs in 45 countries in North America, Europe, Latin America, Asia, Middle East and Africa. Everywhere from small stores to airports, our 280,000 employees are making a difference.
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 8, 2011.