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    SECU B   SE0000163594

SECURITAS AB (PUBL)

(SECU B)
  Report
Delayed Nasdaq Stockholm  -  11:29 2022-09-29 am EDT
76.14 SEK   -1.07%
09/23Securitas publishes supplement to prospectus regarding the rights issue
AQ
09/21Securitas announces trading update for the period July 1-August 31, 2022
AQ
09/19SECURITAS AB (PUBL) : RIGHTS ISSUE: 4 new shares @ 46 SEK for 7 existing shares
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Securitas profit up on airport, electronic security demand

07/28/2022 | 08:15am EDT
FILE PHOTO: Securitas CEO Ahlqvist poses for a picture in Stockholm

STOCKHOLM (Reuters) - Securitas on Thursday reported a slightly bigger than expected rise in second quarter profit helped by demand for electronic security and further recovery in airport security in Europe.

The world's biggest listed security services provider posted a 28% rise in operating profit to 1.46 billion Swedish crowns ($142 million), topping the 1.42 billion expected by analysts polled by Refinitiv.

"The good business conditions accelerated in the second quarter with organic sales growth of 6%," CEO Magnus Ahlqvist said in a statement.

Securitas' European operations saw good momentum in electronic security services and a continued rebound in demand for airport security. Big price hikes boosted margins in the region, the group said.

Shares were up 8% at 1212 GMT in the company, whose biggest competitor is privately held U.S. group Allied Universal after it bought G4S last year.

Organic sales in Securitas' high-margin electronic security products - a segment it aims to grow - rose 13%, helping profitability reach an all-time high.

Securitas last week bought Stanley Black & Decker's electronic security solutions business Stanley Security for $3.2 billion in its biggest acquisition to date.

It had sold the same business in 2011.

In North America, organic sales edged down, as flagged earlier, falling by 1% due to the termination of low-margin contracts and lower extra sales.

"However, the underlying business in North America is developing very well and we expect organic sales growth to return to positive in the third quarter," Ahlqvist said.

($1 = 10.2856 Swedish crowns)

(Reporting by Anna Ringstrom, editing by Terje Solsvik and Jason Neely)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
SECURITAS AB (PUBL) -1.07% 76.14 Delayed Quote.-25.75%
STANLEY BLACK & DECKER, INC. -2.99% 77.21 Delayed Quote.-57.80%
All news about SECURITAS AB (PUBL)
09/23Securitas publishes supplement to prospectus regarding the rights issue
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09/21Securitas announces trading update for the period July 1-August 31, 2022
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Analyst Recommendations on SECURITAS AB (PUBL)
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Financials
Sales 2022 127 B 11 360 M 11 360 M
Net income 2022 3 975 M 355 M 355 M
Net Debt 2022 35 232 M 3 145 M 3 145 M
P/E ratio 2022 7,95x
Yield 2022 5,67%
Capitalization 27 759 M 2 478 M 2 478 M
EV / Sales 2022 0,49x
EV / Sales 2023 0,44x
Nbr of Employees 320 850
Free-Float 94,1%
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Mean consensus HOLD
Number of Analysts 14
Last Close Price 76,14 SEK
Average target price 106,41 SEK
Spread / Average Target 39,8%
EPS Revisions
Managers and Directors
Magnus Ahlqvist President & Chief Executive Officer
Andreas Lindback Chief Financial Officer
Jan Olof Svensson Chairman
Hillevi Agranius Chief Information Officer
Kerstin Sofia M. Sch÷rling-H÷gberg Independent Director
Sector and Competitors