Securitas AB (OTCPK:SCTBF)

$ 13.3 0.55 (4.31%) Market Cap: 7.34 Bil Enterprise Value: 11.03 Bil PE Ratio: 15.98 PB Ratio: 2.06 GF Score: 82/100

Q4 2023 Securitas AB Earnings Call Transcript

Feb 07, 2024 / 08:30AM GMT

Release Date Price: $9.71 (+1.25%)

Transcript

Magnus Ahlqvist Securitas AB;President;CEO

&

Good morning, everyone, and a warm welcome to the Q4 and the full year 2023 updates. We have delivered decent results in the quarter and strong cash flows and margin improvements from technology and solutions are two clear highlights of the quarter.

We recorded 6% organic sales growth in services, the price increases were the main driver of the growth. But we also had volume coming from the aviation business. The growth in Technology and Solutions was 6%. The operating margin improved to 6.8% in the fourth quarter and all three business segments contributed. And the technology and solutions business line was the main driver of the margin improvement.

We have balanced price wage in the group for the full year and similar to the previous quarter, I would say that we have seen some improvement in the labor market. The operating cash flow was 166% in the quarter and 80% for the full year. And with SEK5 billion of free cash flow in combination with favorable FX developments contributed to solid deleveraging.

And

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