Annual Report 2008 - Securitas

98 Annual report
Notes and comments to the consolidated financial statements
aCquIsItION Of thE busINEss IN EuRECa aNd luxtRaCING
SUMMAry BALANcE SHEET AS OF AcqUISITION
DATE JULy 4 AND OcTOBEr 1, 2008
MSEK
Book
value of
acquisition
balance
Fair value
adjustment
and
purchase
price alloc.
Fair value
acquisition
balance
Operating non-current assets 2.5 – 2.5
Accounts receivable 23.4 – 23.4
Other assets 21.6 – 21.6
Other liabilities –53.2 –13.7 –66.9
Total operating capital employed –5.7 –13.7 –19.4
Goodwill from the acquisition – 84.5 84.5
Other acquisition related intangible
assets 16.4 – 16.4
Total capital employed 10.7 70.8 81.5
Net debt –6.4 – –6.4
Total acquired net assets 4.3 70.8 75.1
Purchase price 1 – – –75.1
Liquid funds in accordance with
acquisition analysis – – 6.1
Total impact on the Group’s liquid
funds – – –69.0
1 whereof acquisition costs of MSEK 1.3.
All the shares in Eureca and Luxtracing were acquired.
The acquisitions have contributed to Total sales with MSEK 27.2 and to Net income for the year with
MSEK 3.7. The acquisitions would, if they had been consolidated from January 1, 2008, have contributed
to Total sales with MSEK 59.1 and to Net income for the year with MSEK 2.3.
S.O.B Objektschutz, Germany
Securitas has acquired S.O.B Objektschutz in Stuttgart, Germany. The company,
which specializes in security for fairs and exhibitions, had at the time
of acquisition estimated annual sales of MSEK 84 and 500 employees.
Goodwill, which amounts to MEUr 1.5 (MSEK 16.0), is mainly related to
synergies in the customer contract portfolio.
aCquIsItION Of thE busINEss IN s.O.b. ObjEktsChutz
SUMMAry BALANcE SHEET AS OF AcqUISITION DATE DEcEMBEr 2, 2008
MSEK
Book
value of
acquisition
balance
Fair value
adjustment
and
purchase
price alloc.
Fair value
acquisition
balance
Operating non-current assets 3.1 – 3.1
Accounts receivable 11.9 – 11.9
Other assets 2.9 – 2.9
Other liabilities –10.3 –15.4 –25.7
Total operating capital employed 7.6 –15.4 –7.8
Goodwill from the acquisition – 16.0 16.0
Other acquisition related intangible
assets – 22.4 22.4
Total capital employed 7.6 23.0 30.6
Net debt –2.8 – –2.8
Total acquired net assets 4.8 23.0 27.8
Purchase price 1 – – –27.8
Liquid funds in accordance with
acquisition analysis – – –2.8
Total impact on the Group’s
liquid funds – – –30.6
1 whereof acquisition costs of MSEK 1.4.
All the shares in S.O.B. Objektschutz were acquired.
The acquisition has contributed to Total sales with MSEK 3.9 and to Net income for the year with MSEK –0.7.
The acquisition would, if it had been consolidated from January 1, 2008, have contributed to Total sales
with MSEK 74.6 and to Net income for the year with MSEK 2.6.
Securitas Annual report 2008
Agency of Security Fenix, Czech Republic and Slovakia
Securitas has acquired the security services company Agency of Security
Fenix (ASF) in the Czech Republic and Slovakia. The company had at the
time of acquisition estimated annual sales of approximately MSEK 164 and
about 1,250 employees. ASF is the third largest market player in the Czech
republic and with this acquisition Securitas will be the market leader in
security services in the Czech Republic. Goodwill, which amounts to MCZK
169.4 (MSEK 69.4), is mainly related to synergies in the customer contract
portfolio and geographical expansion.
aCquIsItION Of thE busINEss IN aGENCy Of sECuRIty fENIx
SUMMAry BALANcE SHEET AS OF AcqUISITION DATE DEcEMBEr 19, 2008
MSEK
Book
value of
acquisition
balance
Fair value
adjustment
and
purchase
price alloc.
Fair value
acquisition
balance
Operating non-current assets 2.4 – 2.4
Accounts receivable 32.0 – 32.0
Other assets 1.0 – 1.0
Other liabilities –44.7 –1.9 –46.6
Total operating capital employed –9.3 –1.9 –11.2
Goodwill from the acquisition – 69.4 69.4
Other acquisition related intangible
assets – 8.9 8.9
Total capital employed –9.3 76.4 67.1
Net debt –19.2 – –19.2
Total acquired net assets –28.5 76.4 47.9
Purchase price 1 – – –47.9
Liquid funds in accordance with
acquisition analysis – – 1.8
Total impact on the Group’s
liquid funds – – –46.1
1 whereof acquisition costs of MSEK 4.4.
All the shares in Agency of Security Fenix were acquired.
The acquisition has contributed to Total sales with MSEK 5.7 and to Net income for the year with MSEK 0.0.
The acquisition would, if it had been consolidated from January 1, 2008, have contributed to Total sales
with MSEK 153.5 and to Net income for the year with MSEK 2.2.
OthER aCquIsItIONs aNd adjustmENts
SUMMAry BALANcE SHEET
MSEK
Book
value of
acquisition
balance
Fair value
adjustment
and
purchase
price alloc.
Fair value
acquisition
balance
Operating non-current assets 0.1 – 0.1
Accounts receivable 3.3 – 3.3
Other assets 1.5 – 1.5
Other liabilities –3.9 –3.1 –7.0
Total operating capital employed 1.0 –3.1 –2.1
Goodwill from the acquisition 1 – 61.4 61.4
Other acquisition related intangible
assets 2 – 19.5 19.5
Shares in associated companies – 2.0 2.0
Total capital employed 1.0 79.8 80.8
Net debt 3.1 – 3.1
Total acquired net assets 4.1 79.8 83.9
Purchase price – – –83.9
Liquid funds in accordance with
acquisition analysis – – 4.4
Total impact on the Group’s
liquid funds – – –79.5
1 Mainly related to the acquisition of the remaning outstanding shares in cPI Security Group, romania,
and the acquisition of Globe Partner Services, Egypt.
2 Mainly related to the update of the acquisition calculation for Seguridad Argentina and acquisition of
contract portfolios in Skandinaviska Bevakning, Sweden, and GSP, Switzerland.