Securitas AB (OTCPK:SCTBF)

$ 10.5 0 (0%) Market Cap: 5.92 Bil Enterprise Value: 9.90 Bil PE Ratio: 42.00 PB Ratio: 1.67 GF Score: 85/100

Q3 2023 Securitas AB Earnings Call Transcript

Nov 07, 2023 / 01:30PM GMT

Release Date Price: $7.87

Transcript

Magnus Ahlqvist;publ;President;CEO

Securitas AB

()-&

Good afternoon, everyone, and welcome to our Q3 update. We are maintaining a steady focus in executing on our strategy and this is visible in the financial performance. And in Q3, we're seeing margin improvements in all 3 business segments. We recorded 8% organic sales growth. And on the services side, the main driver of the growth was price increases and portfolio growth of the aviation business. But we also had good growth in technology and solutions.

The operating margin improved to 6.9% versus 6.5% last year and technology and solutions business line is the main driver of the margin improvement. We are on par in terms of price/wage in the first 9 months. And I just want to make a comment here that similar to Q2, we have seen some improvement in the labor market with improved availability of qualified people, but the market is still fairly tight.

The operating cash flow was 84%, which is below our internal targets for the quarter and generating a strong cash flow in Q4 is an

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