Securitas Direct AB: First quarter report January

KEY OPERATING TARGETS UNDER PRESSURE
* Net customer portfolio growth was 19.3% (24.7)
* Cancellation rate of 6.4% (5.5)
* Payback period for investments in new customers totalled 4.1 years
(3.7)
Net growth and the cancellation rate are based on 12-month rolling
figures, while the payback period is for the year to date.

FIRST QUARTER 1 JANUARY - 31 MARCH 2007,
NOTE THAT COMPARATIVE FIGURES ARE PRO FORMA
* Net sales totalled SEK 911,907 thousand (779,759)
* Adjusted for currency effects, net sales rose 19% (25)
* Operating profit was SEK 70,619 thousand (56,719)
* The operating margin was 7.7% (7.3)
* Profit after tax totalled SEK 44,994 thousand (37,166)
* Earnings per share were SEK 0.12 (0.10)

PRESIDENT'S COMMENTS
In the first quarter of 2007 the trends from 2006 continued to hold
sway. The operating margin strengthened, while reaching our operating
targets remains a challenge.

Close to 30,000 new customers joined the portfolio during the
quarter, taking the client stock to 860,039 customers. The
cancellation rate is above our target maximum and is expected to
remain at about the present level for the rest of the year. Measures
to reduce the cancellation rate have high priority and focus largely
on increasing levels of proactivity and service in connection with
changes in the portfolio and in improving our understanding of
customer needs in new segments.

The mix between new installations of alarm equipment with GSM modems
and camera detectors on the one hand and new installations of
traditional alarm equipment on the other remained at the same level
as in the previous quarter. Because of this, investments in new
customers did not rise, as previously, but instead decreased
slightly. However, our focus on sales and new markets is projected to
have an impact in future quarters and means we do not expect further
decreases.

Investment in new technology has strengthened our product offering
and competitiveness. Voice and image verification linked to a defined
response service makes it easier to compete against low cost
alternatives in our sales contacts with customers. At the same time,
sales and marketing activities continue to drive volume growth in the
market and low prices remain a key tool for alarm companies in this
regard. Our challenge in growing sales is to expand our sales
channels rather than take up positions vis-à-vis our competitors.

Securitas Direct's focus is on creating value for our customers,
which generates long-term value for shareholders. I believe the
cancellation rate and the payback period for new customers have now
stabilised and will, in the long run, be in line with our operating
targets.

We are currently adding around 30,000 new customers per quarter to
the portfolio, which would suggest net customer portfolio growth of
14% for 2007 as a whole. However, I expect the full-year figure to be
15-17%.

GROUP KEY DATA

OPERATING 31 March 31 March
2007 2006
Net customer portfolio growth, % 19.31[1] 24.7
Customer portfolio 860,039 725,231
Cancellation rate, % 6.4 5.5
Payback period, years 4.1 3.7

1) Adjusted for sale of 4,174 monitored alarms to Securitas.
Net growth and the cancellation rate are based on 12-month rolling
figures, while the payback period is for the year to date.

FINANCIAL
januari-mars
SEK thousand 2007 2006
Net sales 911 907 779 759
Sales growth adjusted for currency effects, % 19 25
Operating profit 70 619 56 719
Operating margin, % 7,7 7,3
Profit before tax 67 277 55 423
Earnings per share, SEK 0,12 0,10
Capital employed 1 641 650 1 317 901
Net debt 117 749 796 713
Return on capital employed, % 14 16
Free cash flow 34 591 108 351

Note that comparative figures are pro forma. Details of the
adjustments in the pro forma accounts are published on page 36 of the
Prospectus for Distribution and Listing of Shares 2006. The
prospectus can be downloaded from www.securitas-direct.com. The
balance sheet and cash flow data relate to actual outcomes.

TARGETS AND FUTURE PROSPECTS
Securitas Direct has three operating targets to measure and evaluate
Group performance:
* Annual net customer portfolio growth exceeding 20%
* Cancellation rate of less than 6% on annual basis
* Payback period for investments in new customers of less than 4
years

Management's assessment is that the underlying trend for the payback
period for new customers and the cancellation rate will be in line
with Securitas Direct's operating targets by the end of 2007. Net
growth in the customer portfolio is projected to be 15-17% for the
full year.
BRIEFING AND CONFERENCE CALL
A briefing on the first quarter results will be held on 10 May 2007
at 09.30 CET at the Radisson SAS
Strand Hotel, Nybrokajen 9, Stockholm.

If you wish to follow a webcast of the briefing, please visit the"Investors and Media" section at
www.securitas-direct.com.

If you wish to follow the briefing by phone and participate in the
Q&A session, call +44 (0)20 7162 0125. Please call in 10 minutes
beforehand to allow yourself time to register.

Conference call at 16.00 CET
Securitas Direct's management will give a short presentation of the
first quarter report and answer questions. If you wish to
participate, please call +44 (0) 20 7162 0025 and allow yourself 10
minutes for registration.

A full agenda was published in a press release on 2 May 2007.

Recordings
Recordings of the briefing and conference call will be published on
the Securitas Direct website.

FOR FURTHER INFORMATION CONTACT
Dick Seger, President and CEO, tel +46 (0)708 218817
Lars Andersson, CFO, tel +46 (0)706 327580
Michael Peterson, Investor and Media Relations Manager,
tel +46 (0)733 221814

e-mail: ir@securitas-direct.com
www.securitas-direct.com

Securitas Direct AB: First quarter report January - March 2007

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