Securitas AB Annual Report 2005

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Introduction – Securitas in society Securitas’ employees play an important societal role by making people’s lives safer. Their dedication and professionalism rest on the Group’s values and Code of Conduct as well as on continuous training that stresses that this responsibility to society is an integral part of business operations. We invest in people and build trust in our communities Securitas’ mission to protect homes, workplaces and society and thereby make people’s lives safer is of fundamental importance to a functioning society with safety and respect for all individuals. Social responsibility is an integral aspect of the Group’s operations. As guidance for all employees, the Board of Directors has adopted a Code of Conduct. Securitas follows the laws and regulations in every country in which it operates. Furthermore, Securitas teams with local communities by helping to shape the laws, rules and norms that impact the security industry and govern working conditions for employees. Code of Conduct As a framework for Securitas and all its employees, the Group’s Board of Directors has adopted a Code of Conduct based on the United Nations’ Universal Human Rights Declaration and the International Labour Organisation’s fundamental principles and rights at work. The Code reaffi rms the cultural values that have been put into practice over a very long time at Securitas. The Board of Directors has stated that social responsibility is an integral aspect of corporate governance at Securitas, which encompasses the Group’s risk management policies, procedures and oversight. Refer also to the Report of the Board of Directors – Corporate governance on page 124. Social responsibility is a line responsibility for all managers. They must support and monitor their staff’s compliance with the code of conduct. All employees are encouraged to report violations of the Code to a superior offi cer for further investigation. Human rights Securitas supports and respects basic human rights and recognizes the responsibility for their application in the organization’s day-to-day work. Securitas protects and encourages freedom of religion, thought and expression, freedom from discrimination based on race, religion, gender, sexual orientation, ethnic background, marital status or physical limitation, and freedom of association. Securitas upholds and promotes the highest ethical business standards based on honesty, integrity and fairness in every part of its operations. Securitas believes that corruption and cartels distort the market and impede economic and social growth, and it therefore prohibits such unfair practices. Objective basis for decisions Securitas complies with antitrust and competition laws and has built its competitive strength on honesty, integrity, product quality, price and customer service. Bribes are not accepted in any form. Business decisions must always be based on objective grounds and criteria. All employees must avoid confl icts of interest between their personal lives and Securitas’ business. Maintaining the respect of citizens and society is imperative to Securitas’ success. The Group therefore strives to maintain transparency and open communication with all those who are affected by its operations, whether they be employees, customers, investors or the public or its representatives. 8 SECURITAS 2005
The wheel of fortune Rationalization Refi nement Standards Quality services The demand for higher quality and more specifi c security services is driving the development of standards, which in turn raises wage levels and attracts more qualifi ed people. This in turn helps to reduce employee turnover and leads to employees with longer experience and better training. Having more experienced and qualifi ed people makes it possible to further refi ne and specialize services. The higher cost of qualifi ed guards can be partly offset by rationalizing security solutions with the help of technologies such as intrusion alarms, access control, fi re systems, CCTV and remote-control systems. Creating professional jobs – an important contribution to society Securitas’ businesses play an important role in the advancement of individuals and society. By driving development in the security industry, Securitas maintains its competitive strength and long-term profi tability, while at the same time advancing the profession through training and higher wages and creating good job and career opportunities in an industry long known for temporary, untrained labor and low wages. When Securitas enters an undeveloped market, demand in the industry is tied to basic guarding services with temporary labor and high employee turnover. Usually they are regarded as “unqualifi ed jobs you can’t live on”. Development of wage levels Employee turnover Wages Thanks to Securitas’ initiatives to create a dialogue with the industry and unions, we are now seeing a trend in which training is raising the competence of employees. This creates more qualifi ed services with higher quality and better prices. This in turn is providing a foundation for better wages and further training, so that fewer employees can perform more services enhanced by sophisticated technology. Employee turnover is reduced and more employees feel that their jobs offer development potential, career opportunities and wages they can live on. Human resource management and employee development play a prominent role in Securitas’ operations. The relationship with employees must be based on mutual respect. There is a critical link between the competence of employees and Securitas’ fi nancial development that contributes signifi cantly to the success of individuals and the positive development of society. The Group achieves its fi nancial objectives by being an attractive employer that offers good working conditions, fair wages and suitable training. Wages and other benefi ts must meet the legal minimum or the lowest level in the industry. The basic principle on setting wages is to raise them to a level that meets or exceeds what is considered “enough to live on”. The Group follows applicable rules on working hours as stipulated by national laws or industry standards. Cooperation with employees A key factor in Securitas’ market responsibility is to cooperate with trade organizations, unions, government authorities and the police, in order to raise the standard of security services, rules and norms. Securitas recognizes unions and respects the right of all employees to unionize or become members of the unions they choose and to negotiate collectively in accordance with local laws and regulations. Since 1996, the Group has had a European Group Council, which serves as a forum for information and collaboration between Group Management and employees in European operations. The European Group Council met twice in 2005. Securitas in society SECURITAS 2005 9
Page 1 and 2: Securitas AB Annual Report 2005
Page 3 and 4: Sales per region A world
Page 5 and 6: A positive 2005 lays the foundation
Page 7: A history of growth Securitas was f
Page 11 and 12: Koncernen 12 Comments by the CEO 14
Page 13 and 14: and customers have been convinced t
Page 15 and 16: The Securitas Group - sales growth,
Page 17 and 18: From multi-service providers to sec
Page 19 and 20: The entire organization supports th
Page 21 and 22: Our values Our values - Integrity,
Page 23 and 24: New sales of customer contracts tha
Page 25 and 26: 25 20 15 10 5 0 Return on capital e
Page 27 and 28: Risk business plans Each division a
Page 29 and 30: Swedish GAAP IFRS MSEK 2001 2002 20
Page 31 and 32: Income 2004 MSEK IFRS Q1 2004 IFRS
Page 33 and 34: Market capitalization & Enterprise
Page 36 and 37: Report of the Board of Directors -
Page 38 and 39: Financial overview BDM, Switzerland
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Page 44 and 45: Security Services USA Security Offi
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Securitas Systems Bell Security, ac
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Report of the Board of Directors -
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Direct Mikael Sundberg holds the fr
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Direct Directs model for expansion
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Cash Handling Services Route Superv
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Cash Handling Services One of the s
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Annual Report - Financial statement
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Statement of cash fl ow MSEK NOTE I
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Supplementary information Securitas
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Financial statements - Notes and co
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net assets, and qualify for the hed
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Recognition and subsequent measurem
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NOTE 3 CRITICAL ESTIMATES AND JUDGE
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Table 3A. Maturity structure of iss
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a certain percentage of the fi nal
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NOTE 10 OPERATING EXPENSES Income s
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Notes and comments to the consolida
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Goodwill is tested on an annual bas
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NOTE 28 CHANGES IN SHAREHOLDERS’
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Pension cost MSEK IFRS 2005 Notes a
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Table 1A. Adjusted Consolidated Sta
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Free cash fl ow was not impacted by
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elating to the tax calculated on th
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Table 5. Consolidated Balance Sheet
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NOTE A GOODWILL MSEK Jan 1, 2004 De
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Statement of income MSEK NOTE Paren
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Parent Company changes in sharehold
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NOTE 42 PERSONNEL Average number of
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NOTE 50 LIQUID ASSETS Liquid assets
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To the Annual General Meeting of th
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Corporate Governance - Board of Dir
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Corporate governance - Report of th
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Corporate Governance - Report of th
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Corporate Information
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Corporate Information - Financial i
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Securitas Services Ltd. Berkshire H
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Securitas AB Annual Report 2005

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