Securitas total sales for the first quarter of 2013 was US$2.39 billion (SEK15.86 billion), slightly down from the $2.45 billion from the same period last year. Organic sales growth was 0 percent, while operating income before amortization was $112.71 million (SEK 749 million).Operating margin was 4.7 percent compared to 4.4 percent in the same period in 2012.
Financial highlights for January–March 2013
1. Total sales US$2.39 billion (SEK15.86 billion) (Same period in 2012: $2.45 billion)
2. Organic sales growth 0 percent (1)
3. Operating income before amortization $112.71 million (SEK 749 million) (Same period in 2012: $108.35 million)
4. Operating margin 4.7 percent (4.4)
5. Earnings per share $0.16 (SEK 1.04) ($0.14)
6. Free cash flow/net debt 0.20 (0.12)
Comments from Alf Goransson, President and CEO of Securitas
The organic sales growth was flat and reflected the challenging macroeconomic situation that prevails in Europe, as important markets such as France, Portugal and Spain continues to deteriorate. The U.S. economy is in a slow and gradual recovery mode, while Latin America continued to show strong organic sales growth.
Margin improvement driven by cost savings
The operating margin improved in all divisions compared to the first quarter previous year, mainly driven by the various restructuring and cost savings actions taken in 2012. We achieved cost savings in the first quarter according to our restructuring plan.
Sales of security solutions and technology gradually increases
In 2012 the sales of security solutions and technology represented approximately six percent of Securitas sales. The company aims to triple this share of sales by the end of 2015. The company continued to increase investments in resources within security solutions and technology, reaching 6.5 percent in the first quarter of 2013.