Securitas AB Annual Report 2005

Financial statements – Consolidated fi nancial statements
Statement of income
MSEK NOTE IFRS 2005
IFRS 2004
Swedish GAAP
2004
Sales, continuing operations 63,939.3 63,939.3 58,167.6 58,167.6
Sales, acquired business 2,074.3
1,519.0 1,519.0
Total sales 8 66,013.6
59,686.6 59,686.6
Production expenses 10, 11, 12 –51,320.1
–46,013.7 –46,017.8
Gross income 14,693.5
13,672.9 13,668.8
Selling and administrative expenses 10, 11, 12 –10,399.9
–9,646.5 –9,674.5
Amortization of goodwill 16 –
– –1,149.7
Amortization of acquistion related intangible fi xed assets 17 –122.5
–99.6 –
Acquistion related restructuring costs –35.1
–26.5 –
Operating income 4,136.0
3,900.3 2,844.6
Financial income 13 318.1
189.5 189.5
Financial expense 13 –805.0
–706.1 –706.1
Share in income of associated companies 13, 20 11.8
– –
Income before taxes 3,660.9
3,383.7 2,328.0
Taxes 14 –948.3
–855.2 –860.4
Minority share in net income –
– –0.7
Net income for the year 2,712.6
2,528.5 1,466.9
Whereof attributable to:
Equity holders of the Parent Company 2,711.1
2,527.8 –
Minority interest 1.5
0.7 –
Average number of shares before dilution 365,058,897
365,058,897 365,058,897
Average number of shares after dilution 378,712,105
382,408,810 382,408,810
Earnings per share after taxes, before dilution attributable to equity
holders to the Parent Company (SEK) 2 7.43 7.43
6.92 4.02
Earnings per share after taxes, after dilution attributable to equity
holders to the Parent Company (SEK)
2 7.31
6.79 4.01
Supplementary information
Securitas’ fi nancial model – consolidated statement of income
MSEK IFRS 2005
IFRS 2004
Swedish GAAP
2004
Sales, continuing operations 63,939.3
58,167.6 58,167.6
Sales, acquired business 2,074.3
1,519.0 1,519.0
Total sales 66,013.6
59,686.6 59,686.6
Organic sales growth, % 5
3 3
Production expenses –51,320.1
–46,013.7 –46,017.8
Gross income 14,693.5
13,672.9 13,668.8
Gross margin, % 22.3
22.9 22.9
Expenses for branch offi ces –5,080.9
–5,084.5 –5,103.5
Other selling and administrative expenses –5,319.0
–4,562.0 –4,571.0
Total expenses –10,399.9
–9,646.5 –9,674.5
Operating income before amortization 4,293.6
4,026.4 3,994.3
Operating margin, % 6.5
6.7 6.7
Amortization of goodwill –
– –1,149.7
Amortization of acquisition related intangible fi xed assets –122.5
–99.6 –
Acquisition related restructuring costs –35.1
–26.5 –
Operating income after amortization 4,136.0
3,900.3 2,844.6
Financial income and expenses excluding revaluation of fi nancial instruments –523.1
–516.6 –516.6
Revaluation of fi nancial instruments 36.2
– –
Share in income of associated companies 11.8
– –
Income before taxes 3,660.9
3,383.7 2,328.0
Net margin, % 5.5
5.7 3.9
Taxes –948.3
–855.2 –860.4
Minority share in net income –
– –0.7
Net income for the year 2,712.6
2,528.5 1,466.9
Securitas’ fi nancial model is described on page 22–25. ■ Operating items. ■ Net debt-related items.
■ Goodwill, taxes and non-operating. ■ Items related to shareholders’ equity.
74 SECURITAS 2005