SECURITAS AB Annual Report 2011

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138 Quarterly data Statement of income 2011 1 MSEK Q1 2011 Q2 2011 Q3 2011 Q4 2011 Sales 13 846.6 14 210.1 15 258.2 15 680.7 Sales, acquired business 928.3 1 417.5 1 370.5 1 345.2 Total sales 14 774.9 15 627.6 16 628.7 17 025.9 Organic sales growth, % 3 3 4 2 Production expenses -12 232.5 -12 957.4 -13 718.7 -14 068.8 Gross income 2 542.4 2 670.2 2 910.0 2 957.1 Selling and administrative expenses -1 832.3 -1 924.0 -1 965.7 -2 044.9 Other operating income 2.8 1.1 3.1 67.3 Share in income of associated companies -0.5 0.0 -0.4 -1.5 Operating income before amortization 712.4 747.3 947.0 978.0 Operating margin, % 4.8 4.8 5.7 5.7 Amortization of acquisition related intangible assets -44.3 -53.2 -56.4 -64.3 Acquisition related costs -31.6 -47.2 -21.5 -93.2 Operating income after amortization 636.5 646.9 869.1 820.5 financial income and expenses -109.3 -120.8 -129.2 -133.7 Income before taxes 527.2 526.1 739.9 686.8 Net margin, % 3.6 3.4 4.4 4.0 Current taxes -136.6 -139.5 -194.0 -210.0 Deferred taxes -21.0 -17.8 -27.2 4.7 Net income for the period 369.6 368.8 518.7 481.5 Whereof attributable to: Equity holders of the Parent Company 368.6 367.9 517.5 481.7 Non-controlling interests 1.0 0.9 1.2 -0.2 Earnings per share before dilution (SEK) 1.01 1.01 1.42 1.32 Earnings per share after dilution (SEK) 1.01 1.01 1.42 1.32 Statement of cash flow 2011 1 MSEK Q1 2011 Q2 2011 Q3 2011 Q4 2011 Operating income before amortization 712.4 747.3 947.0 978.0 Investments in non-current tangible and intangible assets -216.7 -263.7 -208.9 -320.5 Reversal of depreciation 218.6 228.6 221.8 233.0 Change in accounts receivable -258.5 -484.0 -52.6 72.5 Change in other operating capital employed -647.1 -107.4 165.6 142.0 Cash flow from operating activities -191.3 120.8 1 072.9 1 105.0 Cash flow from operating activities, % -27 16 113 113 financial income and expenses paid -61.3 -274.1 -81.0 -58.7 Current taxes paid -108.4 -333.2 -103.8 -218.5 Free cash flow -361.0 -486.5 888.1 827.8 Free cash flow, % -78 -100 143 130 Cash flow from investing activities, acquisitions -137.2 -839.7 -355.4 -549.7 Cash flow from items affecting comparability -7.3 -3.2 -2.0 -11.2 Cash flow from financing activities 1 319.9 134.4 -297.1 -188.3 Cash flow for the period 814.4 -1 195.0 233.6 78.6 Capital employed and financing 2011 1 MSEK March 31, 2011 June 30, 2011 September 30, 2011 December 31, 2011 Operating capital employed 3 250.8 4 016.8 3 551.2 3 144.6 Operating capital employed as % of sales 5 6 5 5 Return on operating capital employed, % 124 106 113 118 Goodwill 12 808.8 13 717.8 14 645.3 14 727.4 Acquisition related intangible assets 1 051.2 1 335.7 1 381.7 1 574.1 Shares in associated companies 114.5 114.3 113.6 108.2 Capital employed 17 225.3 19 184.6 19 691.8 19 554.3 Return on capital employed, % 21 18 18 17 Net debt -8 384.4 -10 924.2 -10 724.6 -10 348.8 Shareholders’ equity 8 840.9 8 260.4 8 967.2 9 205.5 Net debt equity ratio / multiple 0.95 1.32 1.20 1.12 1 For definitions and calculation of key ratios refer to note 3. Securitas Annual Report 2011
Statement of income 2010 1 MSEK Q1 2010 Q2 2010 Q3 2010 Q4 2010 Sales 14 538.3 15 000.3 14 758.6 14 800.3 Sales, acquired business 332.2 423.9 568.3 917.9 Total sales 14 870.5 15 424.2 15 326.9 15 718.2 Organic sales growth, % –1 0 2 4 Production expenses -12 176.9 -12 655.7 -12 521.5 -12 721.9 Gross income 2 693.6 2 768.5 2 805.4 2 996.3 Selling and administrative expenses -1 878.9 -1 912.4 -1 818.0 -1 942.0 Other operating income 2.8 2.8 2.7 4.4 Share in income of associated companies 0.1 -0.1 1.6 -2.6 Operating income before amortization 817.6 858.8 991.7 1 056.1 Operating margin, % 5.5 5.6 6.5 6.7 Amortization of acquisition related intangible assets -37.9 -39.4 -39.6 -47.4 Acquisition related costs -4.9 -19.8 -8.4 -56.5 Operating income after amortization 774.8 799.6 943.7 952.2 financial income and expenses -132.3 -128.6 -123.5 -117.9 Income before taxes 642.5 671.0 820.2 834.3 Net margin, % 4.3 4.4 5.4 5.3 Current taxes -169.2 -181.4 -215.2 -169.9 Deferred taxes -22.9 -19.3 -29.9 -79.4 Net income for the period 450.4 470.3 575.1 585.0 Whereof attributable to: Equity holders of the Parent Company 451.5 471.3 574.8 585.5 Non-controlling interests -1.1 -1.0 0.3 -0.5 Earnings per share before dilution (SEK) 1.24 1.29 1.57 1.60 Earnings per share after dilution (SEK) 1.24 1.29 1.57 1.60 Statement of cash flow 2010 1 MSEK Q1 2010 Q2 2010 Q3 2010 Q4 2010 Operating income before amortization 817.6 858.8 991.7 1 056.1 Investments in non-current tangible and intangible assets -221.5 -203.8 -188.0 -288.6 Reversal of depreciation 228.4 225.3 222.8 224.2 Change in accounts receivable -291.0 -353.7 -357.4 233.7 Change in other operating capital employed 185.4 -184.9 104.3 208.0 Cash flow from operating activities 718.9 341.7 773.4 1 433.4 Cash flow from operating activities, % 88 40 78 136 financial income and expenses paid -86.2 -316.7 -65.4 -53.4 Current taxes paid -108.5 -295.0 -123.0 -208.6 Free cash flow 524.2 -270.0 585.0 1 171.4 Free cash flow, % 101 -49 90 152 Cash flow from investing activities, acquisitions -102.6 -347.1 -197.3 -712.0 Cash flow from items affecting comparability -1.1 -1.0 -55.1 -5.3 Cash flow from financing activities -269.9 152.7 -9.4 -297.9 Cash flow for the period 150.6 -465.4 323.2 156.2 Capital employed and financing 2010 1 MSEK March 31, 2010 June 30, 2010 September 30, 2010 December 31, 2010 Operating capital employed 2 511.3 3 371.9 3 098.0 2 586.5 Operating capital employed as % of sales 4 5 5 4 Return on operating capital employed, % 144 123 130 143 Goodwill 13 352.7 13 982.7 12 816.7 13 338.8 Acquisition related intangible assets 859.8 868.1 890.0 1 096.5 Shares in associated companies 135.2 141.5 126.2 125.6 Capital employed 16 859.0 18 364.2 16 930.9 17 147.4 Return on capital employed, % 22 20 22 22 Net debt -7 798.7 -9 699.8 -8 685.4 -8 208.9 Shareholders’ equity 9 060.3 8 664.4 8 245.5 8 938.5 Net debt equity ratio / multiple 0.86 1.12 1.05 0.92 1 For definitions and calculation of key ratios refer to note 3. Quarterly data Securitas Annual Report 2011 139
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Annual Report 2011
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Operating income before by business
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“ Specialization rather than dive
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2. Acquisitions Approximately half
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The key to success lies in “ work
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Knowledge Leader in Security Securi
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We specialize in customer segments
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12 Presentation of our business Ove
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14 Presentation of our business Sec
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18 Presentation of our business Mob
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22 Presentation of our business New
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· Increased use of technology. Inc
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Europe, 4-6 % market growth Growth:
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Greater customer value when investi
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A Challenging Year At year-end, the
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LARGEST SHAREHOLDERS AT DECEMBER 31
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Governance and Management
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Clear and Effective Structure for G
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The work of the Board of Directors
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Employee representatives 1 Annika F
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Supervisory Board (Finansinspektion
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Enterprise risk management process
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all risks related to the infrastruc
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tions deemed to be risk areas, for
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Board of Directors The activities o
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income and expenses in the statemen
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Volume-related factors The first tw
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Aimé Lyagre b. 1959 Chief Operatin
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60 The formal annual accounts and t
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62 Annual Report Report of the Boar
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70 Annual Report Consolidated finan
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76 Annual Report Notes and comments
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Page 146: Securitas AB P.O. Box 12307 SE-102
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SECURITAS AB Annual Report 2011

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