SECURITAS AB Annual Report 2011

124
Annual Report
Notes and comments to the consolidated financial statements
Note 38. Financial five year overview 1
MSEK 2007 2008 2009 2010 2011
INCOME
• Total sales 51 536.1 56 571.6 62 666.7 61 339.8 64 057.1
of which acquired business 1 065.6 1 323.7 1 450.0 2 242.3 5 061.5
• Acquired sales growth, % 2 3 3 4 8
• Organic sales growth, % 6 6 -1 1 3
• Real sales growth, % 8 9 2 5 11
Operating income before amortization 2 888.8 3 270.7 3 756.5 3 724.2 3 384.7
• Operating margin, % 5.6 5.8 6.0 6.1 5.3
Amortization and impairment of acquisition related intangible assets -439.8 -102.2 -138.3 -164.3 -218.2
Acquisition related costs -2.1 -52.6 -5.9 -89.6 -193.5
Items affecting comparability -78.1 -29.3 – – –
financial income and expenses -481.9 -469.6 -589.8 -502.3 -493.0
Share in income of associated companies 2.2 – – – –
• Income before taxes 1 889.1 2 617.0 3 022.5 2 968.0 2 480.0
Taxes -535.1 -727.1 -904.5 -887.2 -741.4
Net income for the year, continuing operations 1 354.0 1 889.9 2 118.0 2 080.8 1 738.6
Net income for the year, discontinued operations -828.0 431.8 – – –
Net income for the year, all operations 526.0 2 321.7 2 118.0 2 080.8 1 738.6
– whereof attributable to non-controlling interests, continuing operations 1.6 -1.9 1.8 -2.3 2.9
Average number of shares after dilution (‘000) 369 366 365 059 365 059 365 059 365 059
• Earnings per share after dilution, continuing operations (SEK) 3.70 5.18 5.80 5.71 4.75
CASH FLOW
Operating income before amortization 2 888.8 3 270.7 3 756.5 3 724.2 3 384.7
Investments in non-current tangible and intangible assets -838.1 -977.0 -950.7 -901.9 -1 009.8
Reversal of depreciation 775.6 839.9 927.5 900.7 902.0
Change in accounts receivable -780.6 7.8 197.6 -768.4 -722.6
Changes in other operating capital employed 1 069.1 107.3 -556.4 312.8 -446.9
Cash flow from operating activities 3 114.8 3 248.7 3 374.5 3 267.4 2 107.4
• as % of operating income before amortization 108 99 90 88 62
financial income and expenses paid -396.2 -433.4 -481.6 -521.7 -475.1
Current taxes paid -457.6 -803.5 -728.2 -735.1 -763.9
• Free cash flow, continuing operations 2 261.0 2 011.8 2 164.7 2 010.6 868.4
as % of adjusted income 114 94 88 81 39
Acquisition of subsidiaries including acquisition related costs paid -584.4 -1 021.5 -757.7 -1 359.0 -1 882.0
Cash flow from items affecting comparability -15.1 -110.8 -12.0 -62.5 -23.7
Cash flow from financing activities 372.1 -199.3 -2 775.5 -424.5 968.9
Cash flow for the year, continuing operations 2 033.6 680.2 -1 380.5 164.6 -68.4
Cash flow for the year, discontinued operations 658.9 -790.5 – – –
Cash flow for the year, all operations 2 692.5 -110.3 -1 380.5 164.6 -68.4
Interest-bearing net debt at beginning of year -9 734.6 -9 878.0 -9 412.6 -8 387.7 -8 208.9
Change in loans -2 877.6 -469.6 1 716.8 -670.7 -2 064.1
Revaluation of financial instruments -35.2 -178.2 76.7 67.6 7.5
Translation differences on interest-bearing net debt 76.9 -1 313.1 611.9 617.3 -14.9
Impact from dividend of discontinued operations – 2 536.6 – – –
Interest-bearing net debt at year-end -9 878.0 -9 412.6 -8 387.7 -8 208.9 -10 348.8
Securitas Annual Report 2011