Securitas AB, a world leader in safety and security solutions, recently announced its results for the quarter ending December 31, 2023. The company reported total sales of MSEK 39,542, reflecting a 6 percent organic sales growth. Operating income before amortization was reported at MSEK 2,683. Furthermore, the operating margin for this quarter was reported at 6.8 percent.
For the full year 2023, Securitas reported a total sales amount of MSEK 157,249, reflecting a 9 percent organic sales growth. The operating income before amortization for the entire year was reported at MSEK 10,247. The company also proposed a dividend of SEK 3.80 per share for the year 2023.
Magnus Ahlqvist, the President and CEO, commented on the results, stating, “Strong Q4 cash flows and margin improvement from technology and solutions.” He attributed the 6.8 percent operating margin in the fourth quarter to the technology and solutions business. The organic sales growth in the technology and solutions business was also 6 percent.
Ahlqvist also provided an update on the ongoing integration of STANLEY Security, stating that the company has achieved the synergy target of MUSD 50. He also highlighted that the company is working on identifying additional cost synergies for execution in 2024. Furthermore, the company is focusing on improving the profitability of its client portfolio and plans to continue its strategic transformation.
Securitas is hosting a telephone conference on February 7, 2024, at 9:30 am (CET) to present the full-year report. Additionally, the conference will be audio cast live via Securitas’ website. A recorded version of the audio cast will also be made available after the conference.
For further details, individuals can contact Micaela Sjökvist, Vice President, Investor Relations, at +46 76 116 7443.
Securitas has four financial targets, including a 8–10 percent technology and solutions annual average real sales growth, a net debt to EBITDA ratio below 3.0x, and an operating cash flow representing 70–80 percent of the operating income before amortization. The company’s corporate registration number is 556302–7241, and it can be visited at Lindhagen plan 70 in Stockholm, Sweden.
For additional details, the full submition is available online.
Source link