Annual Report 2008 - Securitas

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86 Annual report Notes and comments to the consolidated financial statements REmuNERatION tO GROup maNaGEmENt REMUNERATION RELATED TO 2008: KSEK Base Salary/Fee Other benefits Short-term bonus Long-term bonus 2 Pension Total remuneration Melker Schörling, chairman of the Board 1 1,100 – – – – 1,100 carl Douglas, vice chairman 725 – – – – 725 Fredrik cappelen 1 550 – – – – 550 Marie Ehrling 1 650 – – – – 650 Annika Falkengren 450 – – – – 450 Stuart E. Graham 450 – – – – 450 Berthold Lindqvist 1 600 – – – – 600 Fredrik Palmstierna 450 – – – – 450 Sofia Schörling Högberg 450 – – – – 450 Subtotal Board of Directors 5,425 – – – – 5,425 President and cEO 10,763 90 5,250 – 3,152 19,255 Other members of Group Management (10 persons) 3 34,458 2,155 18,712 8,223 4,809 68,357 Subtotal President and CEO and Group Management 45,221 2,245 23,962 8,223 7,961 87,612 Total 50,646 2,245 23,962 8,223 7,961 93,037 Above information refers to full year remuneration for the Group Management, unless stated otherwise. Other benefits include customary expatriate benefits. The Board of Directors have no pension benefits. 1 Including remuneration for committee work. 2 Refer to the cost for 2008, please find further reference below under section long-term incentive. 3 The compensation for one member who joined the Group Management on May 1, 2008 relates as from this date. REMUNERATION RELATED TO 2007: KSEK Base Salary/Fee Other benefits Short-term bonus Long-term bonus Pension Total remuneration Melker Schörling, chairman of the Board 1 1,000 – – – – 1,000 Gustaf Douglas, vice chairman 1 850 – – – – 850 carl Douglas 400 – – – – 400 Marie Ehrling 1 500 – – – – 500 Annika Falkengren 400 – – – – 400 Stuart E. Graham 400 – – – – 400 Berthold Lindqvist 1 550 – – – – 550 Fredrik Palmstierna 400 – – – – 400 Sofia Schörling Högberg 400 – – – – 400 Subtotal Board of Directors 4,900 – – – – 4,900 President and cEO 2 8,308 71 2,000 – 2,478 12,857 Other members of Group Management (10 persons) 3 29,531 4,148 16,159 16,938 2,860 69,636 Subtotal President and CEO and Group Management 37,839 4,219 18,159 16,938 5,338 82,493 Total 42,739 4,219 18,159 16,938 5,338 87,393 Above information refers to full year remuneration for the Group Management, unless stated otherwise. Other benefits include customary expatriate benefits. The Board of Directors have no pension benefits. 1 Including remuneration for committee work. 2 remuneration to the President and cEO Alf Göransson as from March 5, 2007. 3 The compensation for 2007 refer to Santiago Galaz, William Barthelemy, Tore K. Nilsen, Bart Adam, Morten rønning, Lucien Meeus, Olof Bengtsson, Bengt Gustafson, Gisela Lindstrand and Jan Lindström, whereof for the six members who joined the Group Management on May 14 and September 1, 2007 respectively, it refer as from these dates. Securitas Annual report 2008
Shareholdings The Board of Director’s and the Group Management’s shareholdings through acquisitions on the stock market are detailed in the table below. BOArD OF DIrEcTOrS’ AND GrOUP MANAGEMENT’S HOLDINGS OF SEcUrITAS SErIES A AND B SHArES 1 A-shares A-shares B-shares B-shares 2008 2007 2008 2007 Melker Schörling, chairman of the Board 2 4,500,000 4,500,000 16,001,500 12,701,500 Gustaf Douglas 3, 4 – 12,642,600 – 29,590,000 carl Douglas, vice chairman 4 12,642,600 – 29,509,080 100,000 Fredrik cappelen 6 – – 0 – Marie Ehrling – – 4,000 4,000 Annika Falkengren – – 7,500 7,500 Stuart E. Graham – – 5,000 5,000 Berthold Lindqvist – – 10,000 10,000 Fredrik Palmstierna – – 17,200 17,200 Sofia Schörling Högberg – – 2,400 2,400 Alf Göransson, President and cEO – – 30,000 30,000 Santiago Galaz – – 58,000 50,000 william Barthelemy – – 17,000 17,000 Tore K. Nilsen 5 – – – 223,479 Bart Adam – – 4,500 4,500 Erik-Jan Jansen 6 – – 0 – Morten rønning – – 152,337 130,837 Lucien Meeus – – 5,500 0 Olof Bengtsson – – 26,756 26,756 Bengt Gustafson – – 0 0 Gisela Lindstrand – – 1,000 1,000 Jan Lindström – – 2,500 2,500 Total Holdings 17,142,600 17,142,600 45,854,273 42,923,672 1 Information refers to shareholdings as of December 31, 2008 and 2007. 2 Holdings through Melker Schörling AB. 3 Gustaf Douglas, previous vice chairman, left the Board of Directors at the Annual General Meeting April 17, 2008. Note 9. Segment reporting Segment structure The Group’s operations are divided into three primary segments, Security Services North America, Security Services Europe and Mobile and Monitoring, that provide the operational structure for governance, monitoring and reporting. The previous primary segment Loomis is included in the Securitas Group up to December 8, 2008 and reported as Discontinued operations. Further information is found in Note 39. All segments apply the accounting principles explained in Note 2. Segment reporting follows the format of the Securitas’ financial model, which provides a foundation for financial planning and reporting from branch office level up to the Board of Directors. Acquisitions of subsidiaries are therefore excluded from the operating cash flow. All material acquisitions are stated at divisional level in the financial overview under acquisitions. Security Services North America Security Services North America provides specialized guarding services in the USA, canada and Mexico and comprises 17 business units; one organization for national and global accounts, ten geographical regions and three specialty customer segments (Automotive, Government Services and Energy) in the USA plus canada, Mexico and Pinkerton consulting & Investigations. In total, there are 97 geographical areas, over 600 branch offices and more than 100,000 employees. Security Services North America’s service offering covers all segments in most industries. 4 Holdings private and through Investment AB Latour, SÄKI AB, Förvaltnings AB wasatornet and Karpalunds Ångbryggeri AB. company share holdings represented in 2007 by Gustaf Douglas. 5 Tore K. Nilsen left the Group Management in 2008. 6 Fredrik cappelen was elected to the Board of Directors and Erik-Jan Jansen has joined the Group Management during 2008 which is why an earlier holding is not stated. Security Services Europe Securitas’ European guarding operation compromises Security Services Europe, providing specialized guarding services for large and medium-sized customers in 23 countries, and Aviation, providing airport security in twelve countries. The organization has more than 800 branch offices and over 110,000 employees. The customers’ operations and businesses range from financial services, retail, energy, healthcare and the public sector to special events. Aviation offers specialized services for airports, authorities and airlines. Mobile and Monitoring Mobile provides mobile security services for small and medium-sized businesses, such as beat patrol and call-out services, while Monitoring provides electronic alarm surveillance services. Mobile operates in eleven countries across Europe and has approximately 8,900 employees in 37 areas and 270 branches. Monitoring, also called Securitas Alert Services, operates in ten countries across Europe and has approximately 900 employees. Other Other consists of general administrative costs, head office costs, and other costs that arise at Group level and relate to the Group as a whole. The guarding operations in Latin America, India, china, South East Asia and Middle East as well as the Group’s joint venture Securitas Direct S.A. (Switzerland) are also included in Other. Secondary segments Annual report Notes and comments to the consolidated financial statements The geographical split represents various levels of market development in terms of wages, employee turnover, product mix, market growth and profitability. The geographical split of sales is based on the location of sales offices, and corresponds in all material aspects to the geographical location of the customers. Securitas Annual report 2008 87
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Annual Report 2008
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Securitas in short Sales by busines
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” Business relationships are loca
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during the second half of the year.
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The cornerstones of our strategy Hi
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The Business model for Specialized
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Industry/Manufacturing - Case #1 pa
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Our Security officer Andy Price per
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Estuardo Turcios, one of Securitas
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Euclides Vieira, a mobile services
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Our security officer Marc Jessen he
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Security Services North America pro
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Events and key figures for 2008 ·
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Leading the Specialization in Europ
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Events and key figures for 2008 Acq
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Events and key figures for 2008 Acq
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Growing in New Markets A cornerston
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services. Asia is the third-largest
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Securitas’ monitoring services ar
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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
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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
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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
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MSEK 2004 2005 2006 2007 2008 CAPIT
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Statement of income 2007 MSEK q1 20
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Securitas AB Box 12307 SE-102 28 St
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Annual Report 2008 - Securitas

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