Securitas AB Interim Report January - June 2007
• Total sales amounted to MSEK 30,800 (29,973)
• Income before taxes amounted to MSEK 1,097 (913)
• Net income after tax amounted to MSEK 465 (629)
• Earnings per share amounted to SEK 1.27 (1.72)
Total Total
MSEK Q2 2007 Q2 2006 change % H1 2007 H1 2006 change %
Sales 15,583 15,026 4 30,800 29,973 3
Organic sales 4 6 5 6
growth, %
Operating 783 829 -6 1,606 1,638 -2
income before
amortization
Operating 5.0 5.5 5.2 5.5
margin, %
Real change, -3 4 2 1
%
Income before 622 647 -4 1,292 1,312 -2
taxes and
items
affecting
comparability
Real change, -2 0 2 -3
%
Income before 403 258 56 1,097 913 20
taxes
Real change, 61 -59 26 -33
%
Net income -53 178 - 465 629 -26
for the
period,
continuing
operations
Earnings per
share, before 1.12 1.53 -27 2.50 2.78 -10
items
affecting
compara-
bility,
continuing
operations
(SEK)
Earnings per -0.14 0.48 - 1.27 1.72 -26
share,
continuing
operations
(SEK)
Comments from the President and CEO Alf Göransson:
“In the USA, guarding operation margins are continuing to improve
compared to the first half year last year, and Security Services Europe
has improved its market position thanks to a high organic sales growth.
Mobile and Monitoring continues to invest in sales resources in order to
speed up the organic sales growth and expand its business
geographically.
Securitas strategy for the future is now set. The three key elements in
the strategy are a higher degree of specialization in the services
provided to the customers driven by more customer segmentation,
expansion of the Mobile and Monitoring concept and increased
international presence.
Our financial objectives going forward will be an annual average
increase in Earnings Per Share (EPS) of 10 percent and the financial
stability target will be a free cash flow in relation to net debt of a
minimum of 0.20.
Securitas, HSBC and Barclays have signed a Head of Terms agreement
regarding the intention of Securitas cash handling division Loomis to
exit Loomis Cash Management (LCM) in the United Kingdom during the
fourth quarter of 2007.
The first half year operating result has been burdened by the
difficulties in the Loomis UK cash management operation. In addition, it
has also come to the attention of management that for some time LCM has
been making declarations that did not comply with the Note Circulation
Rules in the United Kingdom. Loomis has made a provision of MSEK 206.
This is an estimate and the value will be finally determined during the
second half of 2007.”
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, Investor Relations Manager, +46 8 657 7443
Information meeting
An information meeting will be held today on August 7, 2007, 9.30 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/inv/reg.html?Acc=123598&Conf=179021 and
follow the instructions or call +44 (0)20 7162 0125.
The meeting is also web casted at www.securitas.com
For a recorded version of the information meeting please dial
+44 (0)20 7031 4064 and +46 (0)8 505 203 33, access code: 760517.
The full report including tables can be downloaded from the enclosed
link:
Securitas AB Interim Report January - June 2007
| Source: Securitas AB
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