Annual Report 2008 - Securitas

138
Five year summary and quarterly data
quarterly data
Statement of income 2008
MSEK q1 2008 q2 2008 q3 2008 q4 2008
Continuing operations
Sales 12,777.6 13,078.3 13,839.0 15,553.0
Sales, acquired business 244.9 174.9 417.1 486.8
Total sales 13,022.5 13,253.2 14,256.1 16,039.8
Organic sales growth, % 7 6 6 4
Production expenses –10,730.8 –10,848.5 –11,638.7 –12,904.9
Gross income 2,291.7 2,404.7 2,617.4 3,134.9
Selling and administrative expenses –1,601.3 –1,676.9 –1,755.3 –2,162.8
Other operating income 6.1 4.6 5.8 2.2
Share in income of associated companies 0.3 0.3 –0.3 –0.7
Operating income before amortization 696.8 732.7 867.6 973.6
Operating margin, % 5.4 5.5 6.1 6.1
Amortization and impairment of acquisition related intangible assets –22.5 –22.3 –25.9 –31.5
Acquisition related restructuring costs – –0.8 –9.4 –42.4
Items affecting comparability – – – –29.3
Operating income after amortization 674.3 709.6 832.3 870.4
Financial income and expense –119.7 –103.6 –115.4 –133.6
Revaluation of financial instruments 0.7 1.4 – 0.6
Income before taxes 555.3 607.4 716.9 737.4
Net margin, % 4.3 4.6 5.0 4.6
current taxes –125.0 –136.7 –161.4 –228.7
Deferred taxes –29.0 –31.7 –37.4 22.8
Net income for the period, continuing operations 401.3 439.0 518.1 531.5
Net income for the period, discontinued operations 92.3 107.6 136.0 95.9
Net income for the period, all operations 493.6 546.6 654.1 627.4
Whereof attributable to:
Equity holders of the Parent company 493.3 546.4 653.1 630.8
Minority interests 0.3 0.2 1.0 –3.4
Earnings per share before dilution, continuing operations (SEK) 1.10 1.20 1.42 1.47
Earnings per share before dilution, discontinued operations (SEK) 0.25 0.30 0.37 0.26
Earnings per share before dilution, all operations (SEK) 1.35 1.50 1.79 1.73
Earnings per share after dilution, continuing operations (SEK) 1.10 1.20 1.42 1.47
Earnings per share after dilution, discontinued operations (SEK) 0.25 0.30 0.37 0.26
Earnings per share after dilution, all operations (SEK) 1.35 1.50 1.79 1.73
Statement of cash flow 2008
MSEK q1 2008 q2 2008 q3 2008 q4 2008
Continuing operations
Operating income before amortization 696.8 732.7 867.6 973.6
Investments in non-current tangible and intangible assets –218.4 –214.0 –179.1 –365.5
reversal of depreciation 190.7 192.0 192.1 265.1
change in accounts receivable –310.9 –153.1 17.5 454.3
change in other operating capital employed –155.1 97.1 100.1 65.2
Cash flow from operating activities 203.1 654.7 998.2 1,392.7
Cash flow from operating activities, % 29 89 115 143
Financial income and expenses paid –114.1 –56.5 –91.6 –171.2
current taxes paid –222.6 –196.8 –159.1 –225.0
Free cash flow –133.6 401.4 747.5 996.5
Free cash flow, % –30 82 127 163
Cash flow from investing activities, acquisitions –118.7 –453.2 –169.6 –280.0
Cash flow from items affecting comparability –0.6 –79.0 –0.8 –30.4
Cash flow from financing activities –1,027.1 –759.8 1,518.2 69.4
Cash flow for the period, continuing operations –1,280.0 –890.6 2,095.3 755.5
Cash flow for the period, discontinued operations 402.1 –13.6 –640.0 –539.0
Cash flow for the period, all operations –877.9 –904.2 1,455.3 216.5
Capital employed and financing 2008
MSEK March 31, 2008 June 30, 2008 September 30, 2008 December 31, 2008
Operating capital employed, continuing operations 3,552.7 3,781.3 3,422.8 2,959.4
Operating capital employed as % of sales, continuing operations 7 7 6 5
Return on operating capital employed, continuing operations, % 84 84 91 108
Goodwill, continuing operations 10,801.1 11,299.5 12,376.4 14,104.3
Acquisition related intangible assets, continuing operations 516.0 563.5 624.4 751.3
Shares in associated companies, continuing operations 94.6 91.6 95.3 104.9
Capital employed, continuing operations 14,964.4 15,735.9 16,518.9 17,919.9
Return on capital employed, continuing operations, % 19 18 18 18
capital employed, discontinued operations 3,945.6 4,328.9 4,761.1 –
Capital employed, all operations 18,910.0 20,064.8 21,280.0 17,919.9
Net debt, all operations –10,046.1 –11,721.3 –11,513.4 –9,412.6
Shareholders’ equity, all operations 8,863.9 8,343.5 9,766.6 8,507.3
Net debt equity ratio/multiple, all operations 1.13 1.40 1.18 1.11
Securitas Annual report 2008