Annual Report 2008 - Securitas

Items affecting comparability
For the forthcoming twelve month period, the financial impact
of certain items affecting comparability and contingent liabilities,
as described above under Other Significant Events and in Note 4
and 38 respectively, may vary from the current financial estimates
and provisions made by management. This could affect the profitability
and the financial position of the Group.
The preparation of financial reports requires the Board of
Directors and Group Management to make estimates and judgments.
Estimates and judgments will impact both the statement
of income and the balance sheet as well as disclosures such as
contingent liabilities. Actual results may differ from these estimates
and judgments under different circumstances and conditions.
Further information regarding critical estimates and judgments
is provided in Note 4.
Personnel
with more than 240,000 employees in 37 countries, Securitas
number one responsibility is to be a good, trustful and stable
employer to our close to a quarter of a million employees, providing
them with favorable terms and possibilities for further development
and careers. Our basic requirement is to act within the framework
of laws and international conventions. This means that we
respect and comply with labor market laws, agreements and
safety requirements and other provisions that set the parameters
for our operations.
The foundation for Securitas work with responsibility issues is
our code of conduct, which upholds and promotes high ethical
business standards. The code of conduct is based on our three
fundamental values: Integrity, Vigilance and Helpfulness: Integrity
means being honest and thus earning trust to work unsupervised
on the customer’s premises and with valuables. vigilance entails
noticing things that others do not by seeing, hearing, and evaluating.
Helpfulness is about our employees lending assistance,
even if it is not directly related to his or her job.
Taking responsibility as an employer starts with the very
basics: Securitas will not use forced, involuntary or underage
labor and will respect the right of all employees to form and join
trade unions. Securitas is also an equal-opportunity employer
and does not tolerate bullying or harassment. we believe in
building relationships based on mutual respect and the dignity of
all employees, by far our most important resource. Securitas has
long been a driving force in raising the standards and level of professionalism
in the security industry improving the status of the
security officer profession as well as wage levels. Improved
status makes it easier to recruit and retain qualified employees
with experience and launch training.
There are numerous opportunities for career advancement at
Securitas, either by specializing in a particular discipline at the
local, regional, or national level or applying for an international
scholarship. There are several training programs in place. In some
areas of Europe and the USA there are specialized training programs
geared towards particular sectors, such as gated communities
or retail. In some countries, Securitas even run local training
centers. On a senior management level, Securitas has for many
years offered a one-year training program, tailored to the exchange
Annual report
report of the Board of Directors
of knowledge of business best practice and refinement of operations.
In addition to our social responsibility as an employer, we
work with social projects in some regions where we see a pressing
need of strengthening the local community.
Research and development
Securitas is a service company and does not carry out any
research activities as defined in IAS 38 Intangible assets. The
service offering of the Group is continuously being developed,
not least as an integrated item when carrying out the service
delivery to the customer. As of December 31, 2008 the Group
had no capitalized research expenditures.
Environment
Even though the Group’s and the Parent company’s operations
do not require a permit under the Swedish Environmental code,
Securitas acts within the framework of laws and international
conventions. This means that Securitas respects and complies
with environmental legislation and other provisions that set the
parameters for our operations.
Environmentally, Securitas’ most important responsibility is to
minimize emissions due to transportation. Performing our services
requires transportation in for example Mobile assignments. we also
purchase products, security uniforms being one large category,
thus creating an environmental impact from a lifecycle perspective.
In May 2008, a decision was taken by the Group to adopt and
implement an Environmental Policy. The policy states in short
that no new company cars (aimed to transport maximum five
people) and no new minivans (aimed for six or seven people) as
of May 2008 may exhaust more than 195 and 240 gram cO 2
per km respectively. Trucks, buses and specialist vehicles are not
defined as company cars or minivans. The environmental target is
set to decrease exhaust emissions year by year. Securitas emitted
on an average approximately 173 cO 2 gram per km 2008 for the
10,000 company cars and minivans that Securitas owns or leases
worldwide.
Information regarding the Securitas share
Information about the Securitas share regarding the number of
shares of Series A and Series B, differences between shares in
Series A and Series B as well as information on major shareholders’
can be found in Note 29. Further information regarding the Securitas
share can also be found under the heading The Securitas share
on pages 44–47.
There are no authorizations by the General Meeting to the
Board of Directors to issue new shares or to repurchase any
Securitas shares.
A shareholders’ agreement that among other items comprises
preemption rights for the sale of Series A shares by any part
exists among Gustaf Douglas, Melker Schörling and companies
closely related to them. Apart from this, the Board of Directors
of Securitas AB is not aware of any shareholders’ agreements
or other arrangements between shareholders of Securitas AB.
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