Securitas AB Annual Report 2005

Income 2004
MSEK
IFRS
Q1 2004
IFRS
Q2 2004
IFRS
Q3 2004
IFRS
Q4 2004
Sales, continuing operations 14,195.9 14,535.3 14,856.5 14,579.9
Sales, acquired business 257.0 294.3 325.6 642.1
Total Sales 14,452.9 14,829.6 15,182.1 15,222.0
Organic sales growth, % 2 2 4 3
Production expenses –11,241.3 –11,461.1 –11,691.1 –11,620.2
Gross income 3,211.6 3,368.5 3,491.0 3,601.8
Selling and administrative expenses –2,326.7 –2,413.7 –2,420.1 –2,486.0
Operating income before amortization 884.9 954.8 1,070.9 1,115.8
Operating margin, % 6.1 6.4 7.1 7.3
Amortization of acquisition related intangible fi xed assets –23.6 –24.1 –26.0 –25.9
Acquisition related restructuring costs –3.6 0.6 –1.4 –22.1
Operating income after amortization 857.7 931.3 1,043.5 1,067.8
Financial income and expense –134.2 –127.4 –132.2 –122.8
Revaluation of fi nancial instruments – – – –
Share in income of associated companies – – – –
Income before taxes 723.5 803.9 911.3 945.0
Net margin, % 5.0 5.4 6.0 6.2
Current taxes –158.3 –171.3 –229.9 –235.5
Deferred taxes –14.4 –29.1 –4.8 –11.9
Net income for the period 550.8 603.5 676.6 697.6
Whereof attributable to:
Equity holders of the Parent Company 550.7 603.3 676.5 697.3
Minority interests 0.1 0.2 0.1 0.3
Earnings per share after taxes, before dilution (SEK) 1.51 1.65 1.85 1.91
Earnings per share after taxes, after dilution (SEK) 1.49 1.62 1.81 1.87
Cash fl ow 2004
MSEK
IFRS
Q1 2004
IFRS
Q2 2004
IFRS
Q3 2004
IFRS
Q4 2004
Operating activities
Operating income before amoritzation 884.9 954.8 1,070.9 1,115.8
Investment in fi xed assets –418.2 –445.5 –395.9 –710.3
Reversal of depreciation 382.2 391.0 405.9 433.9
Change in accounts receivable –76.0 96.7 –186.9 –318.9
Changes in other operating capital employed –624.6 233.0 –37.8 875.0
Cash fl ow from operating activities 148.3 1,230.0 856.2 1,395.5
Cash fl ow from operating activities, % 17 129 80 125
Financial income and expenses paid –84.7 –107.0 –199.2 –127.5
Current taxes paid –50.5 –136.5 –144.9 –249.6
Free cash fl ow 13.1 986.5 512.1 1,018.4
Free cash fl ow, % 2 150 72 134
Free cash fl ow net debt ratio 0.14 0.19 0.21 0.24
Cash fl ow from investing activities, acquisitions –124.7 –1,735.3 –17.4 –484.9
Cash fl ow from fi nancing activities –277.1 –742.7 467.6 –943.1
Cash fl ow for the period –388.7 –1,491.5 962.3 –409.6
Capital employed and fi nancing 2004
MSEK
IFRS
March 31, 2004
IFRS
June 30, 2004
IFRS
September 30, 2004
Quarterly data
IFRS
December 31, 2004
Operating capital employed 7,092.9 6,883.5 7,032.8 6,740.9
Operating capital employed as % of sales 12 11 12 11
Return on operating capital employed, % 55 57 59 61
Goodwill 15,245.5 16,456.5 16,176.2 15,301.9
Acquisition related intangible fi xed assets 294.6 500.8 472.0 433.2
Shares in associated companies – – – –
Capital employed 22,633.0 23,840.8 23,681.0 22,476.0
Return on capital employed, % 16 16 17 18
Net debt –11,053.5 –12,493.2 –11,838.9 –10,633.1
Shareholders’ equity 11,579.5 11,347.6 11,842.1 11,842.9
Net debt equity ratio/multiple 0.95 1.10 1.00 0.90
SECURITAS 2005 31