SECURITAS AB Annual Report 2011

100 Annual Report
Notes and comments to the consolidated financial statements
GEOGRAPHICAL INfORMATION
Total sales from
external customers 1
Non-current
assets 2
MSEK 2011 2010 2011 2010
uSA 20 195 20 596 6 838 6 549
france – 3 6 257 2 016 1 954
Sweden4 4 133 4 038 1 020 1 007
Germany – 3 – 3 – 3 1 854
Netherlands – 3 – 3 – 3 1 788
All other countries5 39 729 30 449 9 762 4 350
Total countries
Non-current assets not
64 057 61 340 19 636 17 502
listed by country2 Total non-current
– – 1 701 1 559
assets – – 21 337 19 061
1 Based on the location of sales offices and corresponds in all material aspects to the geographical
location of the customers.
2 Financial instruments, deferred tax assets and post-employment benefit assets are not specified by
country. These are instead reported on the line Non-current assets not listed by country.
3 Not disclosed as amount is less than 10 percent of sales or non-current assets.
4 Disclosed as Sweden is the company’s country of domicile.
5 Including elimination of intra-group sales.
Note 10. Allocation of revenue
Sales
The Group’s revenue is generated mainly from various types of security
services. There is also, to a limited extent, revenue from the sale of alarm
products and cash handling services. The breakdown of sales by segment
is provided in note 9.
Other operating income
Other operating income 2011 mainly comprises dividend of MSEK 29.3
from the Group’s divested joint venture Securitas Direct S.A. in Switzerland
and a capital gain from the divestiture of this company of MSEK 20.3. It also
comprises trade mark fees from Securitas Direct AB of MSEK 10.1 and
other items MSEK 14.6. Other operating income 2010 and 2009 consists
in its entirety of trade mark fees from Securitas Direct AB.
Financial income
Interest income is accounted for in the statement of income in the period
to which it is attributable. Financial income and expenses are specified in
note 14.
Securitas Annual Report 2011
Note 11. Operating expenses
STATEMENT Of INCOME CLASSIfIED ACCORDING TO
TyPE Of COST IN SuMMARy
MSEK 2011 2010 2009
Total sales 64 057.1 61 339.8 62 666.7
Other operating income 74.3 12.7 11.3
Salaries (note 12) -42 368.2 -40 568.1 -41 435.0
Social benefits (note 12)
Depreciation and amortization
-9 550.5 -9 200.2 -9 283.2
(notes 13, 18, 19, 20) -1 120.2 -1 065.0 -1 065.8
Bad debt losses (note 25) -105.1 -54.2 -141.2
Other operating expenses -8 014.4 -6 994.7 -7 140.5
Total operating expenses -61 158.4 -57 882.2 -59 065.7
Operating income 2 973.0 3 470.3 3 612.3
EXCHANGE RATE DIFFERENCES, NET 1
MSEK
Exchange rate differences included in
2011 2010 2009
operating income amounted to: -3.1 3.9 -3.6
1 Exchange rate differences included in net financial items are stated in note 14.
CASH FLOW IMPACT FROM ITEMS AFFECTING COMPARABILITY
MSEK
Cash flow impact from items affecting
2011 2010 2009
comparability1 -23.7 -62.5 -12.0
1 For the 2011 cash flow MSEK -4.5 relates to premises in Germany, MSEK -17.5 to overtime compensation
in Spain and MSEK -1.7 to other items affecting comparability. For the 2010 cash flow MSEK -53.9
relates to the settlement with the trustee of the Heros bankruptcy estate and MSEK -8.6 to premises in
Germany. For the 2009 cash flow MSEK -9.3 relates to premises in Germany and MSEK -2.7 to other
items affecting comparability.
ACQUISITION RELATED COSTS
MSEK 2011 2010 2009
Restructuring and integration costs -135.3 -48.3 -5.9
Transaction costs1 -65.12 Revaluation of deferred
-41.3 –
considerations3 6.9 – –
Total acquisition related costs -193.5 -89.6 -5.9
1 Expensed from 2010 in accordance with IFRS 3 (revised).
2 Transaction costs for the major acquisitions are specified per acquisition in note 16.
3 Refers to contingent considerations and acquisition related option liabilities from 2010 in accordance
with IFRS 3 (revised).