Securitas AB Interim Report January-March 2009

Securitas AB Interim Report January-March 2009

• Total sales MSEK 16,425 (13,022) 
• Income before taxes MSEK 714 (555)
• Net income, continuing operations, MSEK 509 (401)
• Earnings per share, continuing operations, SEK 1.40 (1.10)


COMMENTS FROM THE PRESIDENT AND CEO 

The present global recession can not be recognized nor predicted by using recent
history as a pattern of reference. In this economic environment not even
Securitas is recession proof but still reasonably resistant, achieving an
organic sales growth in the first quarter of 1 percent (7), which we estimate to
be in line with the security market development. A number of our customers are
facing increasing cost cutting demands fueled by the global recession. We
consider it to be crucial to support our customers in optimizing their total
spending in security services and to be creative and ¬proactive in finding the
most cost efficient security solutions. We also aim to defend the profitability
in our contract portfolio. 

The organic sales growth in Security Services North America in the first quarter
was -2 percent. Adjusting for the leap day in February last year, the organic
sales growth would have been close to zero, which is only marginally lower than
the fourth quarter of 2008. The recession generates increased opportunities for
acquisitions in North America, and in the first quarter we acquired two
competitors. We foresee further opportunities, which we intend to exploit
selectively as they occur. The organic sales growth during the first quarter in
Security Services Europe declined to 2 percent due to negative organic sales
growth in some major markets caused by reductions in existing contracts and
lower extra sales. Mobile and Monitoring maintained good organic sales growth,
achieving 5 percent in the quarter (8). In all business segments the price
increases were approximately on par with wage cost development during the
period.

The operating result improved to MSEK 872 (697) in the first quarter of the
year, primarily supported by the weaker Swedish krona but also by a positive
real change of 2 percent. The income before taxes improved 4 percent in real
terms (6). The operating margin in the Group was 5.3 percent (5.4). In Security
Services North America, the positive trend of portfolio refinement and improving
the operating margin during the last two years continued, achieving 5.4 percent
in the first quarter compared to 5.2 percent in the same period last year. In
Security Services Europe the operating margin declined from 5.2 percent to 5.1
percent in the respective periods, due to increased bad debts, lower extra sales
and investments in ¬security training, expertise and security solutions. In
Mobile and Monitoring, the operating margin improved in the first quarter as
sales investments gradually have been optimized.

Alf Göransson
President and Chief Executive Officer

FOR FURTHER INFORMATION, PLEASE CONTACT:
Alf Göransson, President and CEO, 
+46 10 470 3000
Gisela Lindstrand, Senior Vice President 
Corporate Communications and Public Affairs, 
+46 10 470 3011
Micaela Sjökvist, Head of Investor Relations, 
+46 10 470 3013
INFORMATION MEETING
An information meeting will be held on May 7, 2009, at 9.30 a.m. CET. 
The information meeting will take place at Securitas' head office,
Lindhagensplan 70, Stockholm.

To follow the information meeting via telephone (and participate in Q&A
session), please register via the link
https://eventreg1.conferencing.com/webportal3/reg.html?Acc=589833&Conf=165885 
and follow instructions, or call +44 (0)20 7162 0025 or +46 (0) 8 505 201 10.

The meeting will be webcasted at www.securitas.com/webcasts

A recorded version of the web cast will be available on
www.securitas.com/webcasts after the information meeting and a telephone
recorded version of the information meeting will be available until midnight on
May 21 on: +44 (0)20 7031 4064 and +46 (0)8 505 203 33, access code: 832398.

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 Thursday, May 7, 2009.