Annual Report 2008 - Securitas

DATA PER SHARE
SEK/share 2008 2007 2006 2005 2004
Earnings per share before dilution 5.24 1 4.82 1 4.60 1 4.93 1 4.39 1
Earnings per share after dilution 5.24 1 4.82 1 4.60 1 4.90 1 4.37 1
Dividend 2.90 2 3.10 3 3.10 3 3.50 3 3.00 3
Dividend as % of earnings per share 55 64 67 71 69
Yield, % 4.5 4 3.4 2.9 3.9 3.9
Free cash flow per share 5.51 5 6.19 5 4.11 5 4.08 5 4.41 5
Share price at end of period 64 5 75 5 88 5 78 5 67 5
Highest share price 76 5 95 5 95 5 81 5 72 5
Lowest share price 51 5 63 5 68 5 62 5 51 5
Average share price 64 5 81 5 81 5 71 5 60 5
P/E ratio 12 5 16 5 19 5 16 5 15 5
Number of shares outstanding (000s) 365,059 365,059 365,059 365,059 365,059
Average number of shares outstanding, after dilution (000s) 365,059 369,366 376,165 378,712 382,409
Number of shares outstanding, after dilution (000s) 365,059 6 365,059 6 379,615 375,015 382,409
1 Calculated before items affecting comparability and for continuing operations.
2 Proposed dividend.
3 Including Loomis and for 2005 and 2004 also Niscayah Group and Securitas Direct.
4 Calculated on proposed dividend.
DEVELOPMENT OF SHARE CAPITAL
Year Transaction
DEFINITIONS
Number
of shares SEK
1989 Non-cash issue 285,714 28,571,400
1989 New issue 342,856 34,285,600
1989 Split 50:1 17,142,800 34,285,600
1989 Stock dividend 17,142,800 85,714,000
1992 New issue 22,142,800 110,714,000
1993 Conversion 23,633,450 118,167,250
1994
Non-cash issue
(Spain) 24,116,450 120,582,250
1996 Split 3:1 1 72,349,350 120,582,250
1996 Stock dividend 1 72,349,350 144,698,700
1996 Conversion 72,697,739 145,395,478
1997 Conversion 73,206,315 146,412,630
1998 Conversion 73,439,693 146,879,386
1998 Stock dividend 2 73,439,693 293,758,772
1998 Split 4:1 2 293,758,772 293,758,772
1 A 3:1 split was executed in 1996, as was a stock dividend, changing the par value
of the share from SEK 5 to SEK 2.
2 A 4:1 split was executed in 1998, as was a stock dividend, changing the par value
of the share from SEK 2 to SEK 1.
yield: Dividend relative to share price at the end of each year. For 2008, the
proposed dividend is used.
Free cash flow per share: Free cash flow in relation to the number of shares
outstanding before dilution.
P/E ratio (Price/Earnings): The share price at the end of each year relative to
earnings per share after taxes.
5 Excluding Loomis and for 2005 and 2004 also Niscayah Group and Securitas
Direct.
6 Convertible debenture loan 2002/2007 matured in May 2007 and there is
currently no potential dilution.
Year Transaction
1998
Number
of shares SEK
New issue
Raab Karcher 308,114,828 308,114,828
1998 New issue Proteg 325,104,472 325,104,472
1998 Conversion 325,121,812 325,121,812
1999 Conversion 327,926,707 327,926,707
1999 New issue Pinkerton 355,926,707 355,926,707
1999 Conversion 356,318,317 356,318,317
2001 Conversion 3 361,081,321 361,081,321
2002 Conversion 363,055,906 363,055,906
2003 Conversion 4 365,058,897 365,058,897
2004 n/a 365,058,897 365,058,897
2005 n/a 365,058,897 365,058,897
2006 n/a 365,058,897 365,058,897
2007 n/a 365,058,897 365,058,897
2008 n/a 365,058,897 365,058,897
3 148,200 refers to interim shares registered with the Swedish Patent and Registration
Office on January 11, 2002.
4 The 1998/2003 convertible debenture loan was converted on March 31, 2003
except for MSEK 5 that was not converted.
EBITA multiple: The company’s market capitalization and liabilities relative to
operating income before amortization, net financial items and taxes.
Turnover rate: Turnover during the year relative to the average market capitalization
during the same period.
Market capitalization: The number of shares outstanding times the market price
of the share price at year-end.
Enterprise value: Market capitalization + net debt.
The Securitas share
The past year
Securitas Annual Report 2008
47