Securitas AB (OTCPK:SCTBY)

$ 10.985 0 (0%) Market Cap: 6.29 Bil Enterprise Value: 10.26 Bil PE Ratio: 45.25 PB Ratio: 1.57 GF Score: 83/100

Q2 2021 Securitas AB Earnings Call Transcript

Jul 29, 2021 / 12:30PM GMT

Release Date Price: $17.4

Transcript

Magnus Ahlqvist

Securitas AB - President & CEO

Good afternoon, everyone, and a warm welcome to our Q2 call. We are on the right path as a company, and implementing our strategy with full force. And today, we are proud to present a solid set of results for the second quarter.

Q2 is a strong quarter with solid results. We have been working quite hard over the last 18 months. We're sharpening the business. And the transformation programs are running according to plan, and this work is generating results. Organic sales growth was 8% in the quarter, and the comparatives from Q2 were obviously weak. But we have increased commercial activity like we commented after Q1 as well. And momentum in the last 6 months is also improving. The operating margin improved to 5.6%, which is a substantial improvement versus the same period last year, but also when comparing with 2019.

And the margin was supported by strong performance improvement in all business segments and by returning to more normal levels of provisioning. And we are on par in terms of price/wage balance, despite the more challenging

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