Annual Report 2008 - Securitas

More documents

Recommendations

Info

20 Presentation of our business Security Services North America Securitas Annual Report 2008 The Largest Footprint in North America Organization Security Services North America provides specialized guarding services in the USA, Canada and Mexico and consists of 17 business units: one organization for national and global accounts, 10 geographical regions and three specialty customer segments (Automotive, Government Services and Energy) in the USA, plus Canada, Mexico and Pinkerton Consulting & Investigations (C&I). In total, there are 97 geographical areas, over 600 branch offices and more than 100,000 employees. Strategy and objectives The overall, longterm financial objective for Security Services North America is to grow in line with the market for private security while improving yearonyear profitability. To develop the business further, Securitas is committed to continuing working with each client to develop the optimal security solution. Analyzing their security needs and understanding what the client is really looking for will give us the necessary foundation to build our so-called service wheel, a tool that helps us focus on our people, procedures, tools, training and feedback. This work for each individual client is the base of our strategy. We will strive to maintain our strong leadership, raise industry standards, increase the level of specialization, introduce value-added services and solutions, and continue to maintain a high client retention rate. Market and competition The U.S. market for contracted or outsourced security has been relatively stable over the past three years and currently stands at 55 percent. In Canada and Mexico, most of the market is outsourced – almost 80 percent in Canada and nearly 90 percent in Mexico. The Securitas market share remains stable at 18 percent in the USA and 12 percent in Canada. The main competitors in the USA are Allied Barton and G4S through Wackenhut Corp. In the U.S. security market, there are seven major players that have a combined market share of 56 percent. The rest of the U.S. security market is very fragmented. In Canada, the market is more consolidated with the top four companies holding 70 percent of the market. The Mexican security market is very fragmented. Service offering and customers In North America, Securitas has the largest footprint. Through our organization, we have the ability to provide a wide range of services, from more standardized guarding to highly specialized services. The service offering ranges from security consulting, mobile patrols, specialized guarding, receptionist services, console operations, alarm response and event security to complete security solutions. The customer base represents many industries and sectors, including banking and finance, manufacturing, education, high-tech, health care, residential areas, utilities, entertainment and retail. In addition, the National Accounts team has a high level of specialization in such customer segments as high-tech, telecom and banking. Securitas’ wholly owned subsidiary Pinkerton Consulting & Investigations provides security consulting and such investigative services as fraud investigations, due diligence, computer forensics, and intellectual property and brand protection services. It operates from 32 branch offices throughout the world, serving customers in the pharmaceutical, electronics, consumer goods and financial sectors among others. Multi-country contracts play a significant role in the process of increasing longterm and regular business, and C&I is therefore seeking an even larger international presence. Our employees Our security officers and branch managers are the cornerstones of our operations. To improve the efficiency of our hiring process for security officers, we have initiated an automated hiring process that helps to ensure quality hires through customized assessment and to guarantee compliance using appropriate screenings before a person can be hired. This was rolled out in the USA in 2007 and in Canada in 2008, and while it cannot be completely attributable to our automated hiring process, we have seen our employee turnover drop and retention rate improve. In 2009, we will introduce an updated version of our online training academy to provide continuous training for our officers. Learning plans are developed based on client needs and expectations. In 2004, we introduced the Branch Manager Training Program in the USA tailored towards client service, human resources and the financial aspects of our business. The primary purpose of this training
Events and key figures for 2008 · Grupo Guardias Blancas was acquired in Mexico and has annual sales of approximately MSEK 69 and 1,500 employees. The company specializes in security services for the tourism industry in the south-east Mexico, but also has operations in the retail, commercial and maritime segments. With this acquisition Securitas will be the second largest security services company in Mexico. · Several initiatives for competence development: Initiation of an automated hiring process, updated version of our online training, manager training program launched in Canada and Mexico. Santiago Galaz, Divisional President, Security Services North America SALES MSEK 20,000 15,000 10,000 5,000 0 OPERATING INCOME MSEK 1,000 750 500 250 0 04 05 04 05 06 07 08 06 07 08 Presentation of our business Security Services North America Tony Mack, a Field Services Manager at Securitas USA, talking to a colleague through his walkie talkie during the Verizon Heritage Golf Tournament on Hilton Head Island, South Carolina, USA. FINANCIAL kEy RATIOS MSEK 2008 2007 Total sales 21,327 20,933 Organic sales growth, % 3 4 Operating income before amortization 1,218 1,080 Operating margin, % 5.7 5.2 Real change, % 13 8 Cash flow from operating activities 1,104 1,036 Cash flow from operating activities, % 91 96 Operating capital employed 734 952 Operating capital employed as % of sales 3 5 Total capital employed 7,454 6,513 Return on capital employed, % 16 17 Securitas Annual Report 2008 21
Page 1 and 2: Annual Report 2008
Page 3 and 4: Securitas in short Sales by busines
Page 5 and 6: ” Business relationships are loca
Page 7 and 8: during the second half of the year.
Page 9 and 10: The cornerstones of our strategy Hi
Page 11 and 12: The Business model for Specialized
Page 13 and 14: Industry/Manufacturing - Case #1 pa
Page 15 and 16: Our Security officer Andy Price per
Page 17 and 18: Estuardo Turcios, one of Securitas
Page 19 and 20: Euclides Vieira, a mobile services
Page 21 and 22: Our security officer Marc Jessen he
Page 23: Security Services North America pro
Page 27 and 28: Leading the Specialization in Europ
Page 29 and 30: Events and key figures for 2008 Acq
Page 31 and 32: Events and key figures for 2008 Acq
Page 33 and 34: Growing in New Markets A cornerston
Page 35 and 36: services. Asia is the third-largest
Page 37 and 38: Securitas’ monitoring services ar
Page 39 and 40: work with independent and strong lo
Page 41 and 42: Volume-related factors The first tw
Page 43 and 44: Business Risk Evaluation Model Secu
Page 45 and 46: A Securitas risk management case to
Page 47 and 48: an environmental impact from a life
Page 49 and 50: Turnover The turnover of Securitas
Page 51 and 52: DATA PER SHARE SEK/share 2008 2007
Page 53 and 54: Taxes, net income and earnings per
Page 55 and 56: Acquisitions have increased acquisi
Page 57 and 58: GRB Security, United Kingdom Securi
Page 59 and 60: Germany - U.S. Army Securitas Germa
Page 61 and 62: Items affecting comparability For t
Page 63 and 64: Proposed allocation of earnings The
Page 65 and 66: Securitas’ financial model - cons
Page 71 and 72: Note 1 General corporate informatio
Page 73 and 74: IFRS 8 Operating segments The Group
Page 75 and 76:
Joint ventures (IAS 31) The proport
Page 77 and 78:
Items affecting comparability This
Page 79 and 80:
Employee benefits (IAS 19) The Grou
Page 81 and 82:
Free cash flow in relation to net d
Page 83 and 84:
After the services had been substan
Page 85 and 86:
Interest rate fixing It is the poli
Page 87 and 88:
AccOUNTS rEcEIvABLE AND AGEING ANAL
Page 89 and 90:
are transferred from the individual
Page 91 and 92:
Shareholdings The Board of Director
Page 93 and 94:
JANUAry - DEcEMBEr 2007 MSEK Income
Page 95 and 96:
AUDIT FEES AND rEIMBUrSEMENTS MSEK
Page 97 and 98:
DEFERRED TAx ASSETS WERE ATTRIBUTAB
Page 99 and 100:
Acquisitions GRB Security, United K
Page 101 and 102:
Purzeczko, Poland Securitas has acq
Page 103 and 104:
Impairment testing For the purpose
Page 105 and 106:
Note 20. Tangible non-current asset
Page 107 and 108:
Note 29. Changes in shareholders’
Page 109 and 110:
Note 32. Provisions for pensions an
Page 111 and 112:
MAIN AcTUArIAL ASSUMPTIONS 2008 200
Page 113 and 114:
Globe and other Securitas companies
Page 115 and 116:
Annual report Parent Company financ
Page 117 and 118:
Balance sheet MSEK Note 2008 2007 2
Page 119 and 120:
Note 40. Accounting principles The
Page 121 and 122:
Note 44. Personnel AvErAGE NUMBEr O
Page 123 and 124:
cHANGE ANALySIS OF SHArES IN SUBSID
Page 125 and 126:
To the annual meeting of the shareh
Page 127 and 128:
Significant Shareholders The princi
Page 129 and 130:
The Work of the Board of Directors
Page 131 and 132:
Insider Policy and Records The Boar
Page 133 and 134:
3. Financial Reporting controllers
Page 135 and 136:
E. Management Assurance - Function
Page 137 and 138:
Sofia Schörling Högberg b. 1978 D
Page 139 and 140:
Bart Adam Bart Adam b. 1965 Divisio
Page 141 and 142:
MSEK 2004 2005 2006 2007 2008 CAPIT
Page 143 and 144:
Statement of income 2007 MSEK q1 20
Page 146:
Securitas AB Box 12307 SE-102 28 St
show all

Annual Report 2008 - Securitas

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?