Securitas AB (OTCPK:SCTBF)

$ 10.5 0 (0%) Market Cap: 5.85 Bil Enterprise Value: 9.82 Bil PE Ratio: 45.25 PB Ratio: 1.57 GF Score: 83/100

Q1 2022 Securitas AB Earnings Call Transcript

May 04, 2022 / 12:30PM GMT

Release Date Price: $11.59

Transcript

Magnus Ahlqvist

Securitas AB - President & CEO

Good afternoon, everyone, and welcome to our Q1 2022 Conference Call. We delivered a robust performance in Q1, top line growth and continued margin improvement versus last year.

The organic sales growth in the quarter was 4%, and this was driven by strong growth in Europe and Ibero-America. Momentum in solutions, electronic security is improving with 9% sales growth, and the quality and profitability of the portfolio is our highest priority, and we continue to win more business at improved margins versus the same period last year.

We are now starting to see some normalization of the business. COVID-related government grants and support are now at low levels, and event to date at extra sales are starting to pick up again.

The labor market is challenging, and we have seen rising inflation, but we have been successful in working with our clients to manage this situation and have increased prices at significantly higher levels versus in the last 10 years.

The operating margin improved to 5.1%, with 8% real change in the

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