Securitas AB Interim Report Q2 2024 | January-June
Securitas AB (SCTBY) reported solid Q2 2024 performance with total sales of MSEK 40,638, a 5% organic sales growth. The operating margin improved to 6.9% from 6.6% in Q2 2023. Earnings per share increased to SEK 2.28 from SEK 2.05. The company saw strong growth in technology and solutions, with real sales growth of 7%. Cash flow from operating activities improved to 60% from 46% last year.
CEO Magnus Ahlqvist highlighted the company's progress in shaping for long-term sustainable shareholder value, focusing on growth in technology and solutions, portfolio profitability in security services, and digital innovation. Securitas remains committed to achieving an 8% operating margin target by the end of 2025.
Securitas AB (SCTBY) ha riportato una solida performance nel secondo trimestre del 2024, con vendite totali di MSEK 40.638, registrando una crescita organica delle vendite del 5%. Il margine operativo è migliorato al 6,9% rispetto al 6,6% del secondo trimestre del 2023. Utili per azione sono aumentati a SEK 2,28 rispetto a SEK 2,05. L'azienda ha registrato una forte crescita nella tecnologia e nelle soluzioni, con una crescita reale delle vendite del 7%. Il flusso di cassa dalle attività operative è migliorato al 60% rispetto al 46% dell'anno scorso.
Il CEO Magnus Ahlqvist ha sottolineato i progressi dell'azienda nel creare un valore sostenibile a lungo termine per gli azionisti, concentrandosi sulla crescita nella tecnologia e nelle soluzioni, sulla redditività del portafoglio nei servizi di sicurezza e sull'innovazione digitale. Securitas rimane impegnata a raggiungere un obiettivo di margine operativo dell'8% entro la fine del 2025.
Securitas AB (SCTBY) informó sobre un rendimiento sólido en el segundo trimestre de 2024, con ventas totales de MSEK 40,638, lo que representa un crecimiento orgánico de las ventas del 5%. El margen operativo mejoró al 6.9% desde el 6.6% en el segundo trimestre de 2023. Las ganancias por acción aumentaron a SEK 2.28 desde SEK 2.05. La compañía experimentó un fuerte crecimiento en tecnología y soluciones, con un crecimiento real de ventas del 7%. El flujo de efectivo de las actividades operativas mejoró al 60% desde el 46% del año pasado.
El CEO Magnus Ahlqvist destacó el progreso de la empresa en la creación de un valor sostenible a largo plazo para los accionistas, centrándose en el crecimiento en tecnología y soluciones, la rentabilidad de la cartera en servicios de seguridad y la innovación digital. Securitas sigue comprometida a alcanzar un objetivo de margen operativo del 8% para finales de 2025.
Securitas AB (SCTBY)는 2024년 2분기에 총 매출 40,638 MSEK을 기록하며 5%의 유기적 매출 성장을 보고했습니다. 운영 마진은 2023년 2분기 6.6%에서 6.9%로 개선되었습니다. 주당순이익은 SEK 2.05에서 SEK 2.28로 증가했습니다. 회사는 기술 및 솔루션에서 강력한 성장을 경험하며 실제 매출 성장률이 7%에 달했습니다. 운영 활동에서의 현금 흐름은 작년 46%에서 60%로 개선되었습니다.
CEO인 Magnus Ahlqvist는 주주에게 장기적으로 지속 가능한 가치를 창출하기 위한 회사의 진행 상황을 강조하며, 기술 및 솔루션의 성장, 보안 서비스의 포트폴리오 수익성 및 디지털 혁신에 집중하고 있다고 언급했습니다. Securitas는 2025년 말까지 8% 운영 마진 목표를 달성하기 위해 노력하고 있습니다.
Securitas AB (SCTBY) a annoncé une solide performance pour le deuxième trimestre 2024, avec des ventes totales de 40 638 MSEK, soit une croissance organique des ventes de 5%. La marge opérationnelle est passée de 6,6% au deuxième trimestre 2023 à 6,9%. Le bénéfice par action a augmenté, atteignant SEK 2,28 contre SEK 2,05. L'entreprise a enregistré une forte croissance dans la technologie et les solutions, avec une croissance réelle des ventes de 7%. Le flux de trésorerie provenant des activités opérationnelles s'est amélioré, passant de 46% à 60% par rapport à l'année dernière.
Le PDG Magnus Ahlqvist a souligné les progrès de l'entreprise pour créer une valeur durable à long terme pour les actionnaires, en mettant l'accent sur la croissance dans la technologie et les solutions, la rentabilité du portefeuille dans les services de sécurité et l'innovation numérique. Securitas reste engagée à atteindre un objectif de marge opérationnelle de 8% d'ici fin 2025.
Securitas AB (SCTBY) berichtete über eine solide Leistung im 2. Quartal 2024 mit einem Gesamtumsatz von 40.638 MSEK, was einem organischen Umsatzwachstum von 5% entspricht. Die Betriebsrendite verbesserte sich von 6,6% im 2. Quartal 2023 auf 6,9%. Der Gewinn pro Aktie stieg von SEK 2,05 auf SEK 2,28. Das Unternehmen verzeichnete starkes Wachstum im Bereich Technologie und Lösungen mit einem realen Umsatzwachstum von 7%. Der Cashflow aus den operativen Tätigkeiten verbesserte sich auf 60% von 46% im Vorjahr.
CEO Magnus Ahlqvist hob die Fortschritte des Unternehmens bei der Schaffung eines langfristig nachhaltigen Wertes für die Aktionäre hervor und konzentrierte sich auf Wachstum im Bereich Technologie und Lösungen, die Rentabilität des Portfolios im Sicherheitsdienst und digitale Innovation. Securitas verpflichtet sich, bis Ende 2025 ein Ziel von 8% Betriebsrendite zu erreichen.
- Organic sales growth of 5% in Q2 2024
- Operating margin improved to 6.9% from 6.6% year-over-year
- Earnings per share increased to SEK 2.28 from SEK 2.05
- Real sales growth in technology and solutions of 7%
- Cash flow from operating activities improved to 60% from 46%
- Strong performance in global Technology business with 8% organic sales growth
- Organic sales growth slowed to 5% compared to 11% in the same period last year
- Net debt/EBITDA ratio at 2.9, though improved from 3.3 in the previous year
April–June 2024
- Total sales MSEK 40 638 (39 909)
- Organic sales growth 5 percent (11)
- Real sales growth within technology and solutions 7 percent (73)
- Operating income before amortization MSEK 2 801 (2 620)
- Operating margin 6.9 percent (6.6)
- Earnings per share
SEK 2.28 (2.05)
- Earnings per share before IAC,
SEK 2.60 (2.46)
- Cash flow from operating activities 60 percent (46)
January–June 2024
- Total sales MSEK 79 898 (77 660)
- Organic sales growth 6 percent (11)
- Real sales growth within technology and solutions 7 percent (75)
- Operating income before amortization MSEK 5 158 (4 800)
- Operating margin 6.5 percent (6.2)
- Earnings per share
SEK 4.12 (3.71)
- Earnings per share before IAC,
SEK 4.72 (4.49)
- Net debt/EBITDA ratio 2.9 (3.3*)
- Cash flow from operating activities 26 percent (29)
* The comparative is adjusted and includes STANLEY Security's 12 months adjusted estimated EBITDA.
Comments from the President and CEO
Solid performance in all business segments
We delivered good performance throughout the business with an operating margin of 6.9 percent (6.6) in the second quarter, with an improved margin development in our European operations. In accordance with our strategy, the Group's operating margin was supported by strong improvement both in security services and in technology and solutions.
Organic sales growth was 5 percent. Real sales growth in our technology and solutions business was good at 8 percent excluding the impact from the divestment of Securitas Argentina, supporting the mix change into higher margin business lines.
Operating cash flow in the second quarter improved compared to last year in line with our expectations after the weaker first quarter. We are in a solid position to deliver a strong full-year 2024 outcome.
SHAPING SECURITAS FOR LONG-TERM SUSTAINABLE SHAREHOLDER VALUE
We are shaping Securitas for long-term sustainable shareholder value, and the core of that execution is operational value creation through growth in technology and solutions, portfolio profitability in security services, cost efficiency and digital innovation.
Our portfolio management activities are generating good traction, as evidenced by the profitability development of our security services portfolio. New business continue to come in at higher margins. The recovery in the airport security business in
Two years after the acquisition of STANLEY Security our global Technology business is stronger than ever before. Based on our leading global market position and our unique client offering, we delivered healthy organic sales growth of 8 percent in Technology in the second quarter. Today, we have more than BSEK 1.25 of recurring monthly revenue in the strategically important and high-margin monitoring and maintenance business which, together with effectively driving best practices and executing cost synergies, have supported a significantly increased operating margin since the closing of the acquisition.
With the majority of the integration activities completed in
UNIQUE VALUE PROPOSITION PARTNERING WITH OUR CLIENTS
We are driving a client-centric transformation of Securitas to provide the most compelling value proposition in the security industry. With elevated global uncertainty and an increased threat environment, clients are looking for a future-oriented partner with deep security expertise who can support in shaping their security programs for the years to come. Our long-term partnership approach combined with our presence, technology and digital capabilities are important differentiators that make us the partner of choice for our clients.
Last month, we signed the first global vested contract in the industry with a technology company where we together will develop their security program leveraging our full offering.
To sharpen our performance and competitive position further we also continue to assess our business mix and presence.
Our performance in the second quarter and the confidence from our clients confirm that we are on the right path, and we remain committed to achieve the target of 8 percent operating margin by the end of 2025.
Magnus Ahlqvist
President and CEO
PRESENTATION OF THE INTERIM REPORT
Analysts and media are invited to participate in a telephone conference on July 30, 2024, at 2.30 p.m. (CEST) where President and CEO Magnus Ahlqvist and CFO Andreas Lindback will present the report and answer questions. The telephone conference will also be audio cast live via Securitas' website www.securitas.com
To follow the audio cast of the telephone conference via the web, please follow the link
www.securitas.com/en/investors/financial-reports-and-presentations/
A recorded version of the audio cast will be available at
www.securitas.com/en/investors/financial-reports-and-presentations/ after the telephone conference.
For further information, please contact:
Micaela Sjökvist, Vice President, Investor Relations +46 76 116 7443
ABOUT SECURITAS
Securitas is a world-leading safety and security solutions partner that helps make your world a safer place. Nine decades of deep experience means we see what others miss. By leveraging technology in partnership with our clients, combined with an innovative, holistic approach, we're transforming the security industry. With approximately 341 000 employees in 44 markets, we see a different world and create sustainable value for our clients by protecting what matters most – their people and assets.
Group financial targets
Securitas has four financial targets:
- 8–10 percent technology and solutions annual average real sales growth
- 8 percent Group operating margin by year-end 2025, with a >10 percent long-term operating margin ambition
- A net debt to EBITDA ratio below 3.0x
- An operating cash flow of 70–80 percent of operating income before amortization
Securitas AB (publ.)
P.O. Box 12307, SE-102 28
Visiting address:
Lindhagensplan 70
Telephone: +46 10 470 30 00
Corporate registration number: 556302–7241
This is information that Securitas AB is obliged to make public pursuant to the EU Market Abuse Regulation.
The information was submitted for publication, through the agency of the contact person set out above,
at 1.00 p.m. (CEST) on Tuesday, July 30, 2024.
This information was brought to you by Cision http://news.cision.com
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SOURCE Securitas
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