SECURITAS AB Annual Report 2011

Operating income before
by business History segment, %
Total sales*, MSEK Financial targets amortization*, MSEK
%
%
Earnings per share*, SEK
Free cash flow
The founder of Securitas, Erik 60 000 Philip-Sørensen, 10.0 Securitas focuses 4 000 on two financial targets. 10.0 The first 5.00
0.30
established the company in southern 48 000 Sweden in target 8.0 relates to 3 the 200statement
of income: 8.0 an average 4.00
0.24
1934 when he bought Hälsingborgs 36 000 Nattvakt, a growth 6.0 of earnings 2 400per
share of 10 percent 6.0annually.
3.00
0.18
small guarding company with 24 three 000 guards and a The 4.0 second target 1 600 relates to the balance 4.0 sheet: free 2.00
0.12
contract portfolio of SEK 534 per 12 000 month. The com- cash 2.0 flow in relation 800 to net debt of at least 2.0 0.20. In 1.00
0.06
pany quickly grew organically and through 0 acquisi- 2011, 0 earnings per 0 share amounted to SEK 0 4.75, 0
0.00
urity tions Services of smaller, regional companies. In 1972, the –2.0 which represented a decrease 07 08 09of 10–17 11 percent com-
07 08 09 10 11 07 0
rth America 35%
Group adopted the name Securitas and 07established 08 09 10 11
urity Services
its logotype with the three red dots. Organic sales growth*, %
rope 41%
Operating income before
sales*, bile and MSEK Monitoring After almost 10% 50 years in the amortization*, hands of the MSEK
%
Philip-
Operating margin*, %
pared with 2010. Adjusted for a stronger Swedish
* Continuing operations
krona during 2011, earnings per share decreased
–11 percent compared Earnings per with share*, 2010. SEK
%
The relation
* Continuing operations
Free cash flow to net debt*
* All operations
urity Sørensen Services
0
family, 10.0 the company 4 000 was sold and in
ro-America 14%
0 1991, Securitas was listed on the Stockholm Stock
er 0%
8.0
3 200
Exchange (NASDAQ OMX Stockholm).
0
6.0
2 400
International expansion started cautiously in the
0
4.0
1 600
late 1980s and increased rapidly from the mid-
0
2.0
800
1990s, with Europe as the primary market. The
0
0
0
company entered North America in 1999, followed
–2.0 07 08 09 10 11
by Latin America in 2000. In 2007, the first steps
07 08 09 10 11
Operating margin*, %
ganic were sales growth*, taken in % the Middle East, Asia and Africa.
* Continuing operations
As part of the increased specialization and refinement
of its business, Securitas distributed Securitas
Systems (now the Niscayah Group) and Securitas
Direct to its shareholders in 2006, followed by
Loomis in 2008.
10.0 between free cash 5.00flow
and net debt was 0.08 at
year-end.
8.0
4.00
Read 6.0 more on pages 3.00 54–55 and 84–85
4.0
2.00
2.0
1.00
The 0 share 0
07 08 09 10 11
The share price decreased 24 percent during 2011.
* Continuing operations
The number of shareholders in Securitas was
27 011. Institutional investors and other corporate
entities accounted for 97 percent of the total share
capital. Shareholders outside Sweden accounted for
37 percent (31) of the capital and 26 percent (22) of
the votes.
The principal shareholders in Securitas are
0.30
0.24
0.18
0.12
0.06
0.00
07 08 09 10 11
* All operations
Read more on our website at
Gustaf Douglas and Melker Schörling who, through
www.securitas.com / history
their companies and families, hold 11.5 percent
and 5.6 percent of the capital respectively.
Read more on pages 31–34