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

Q2 2019 Securitas AB Earnings Call Transcript

Jul 31, 2019 / 12:30PM GMT

Release Date Price: $16.75

Transcript

Magnus Ahlqvist

Securitas AB - President & CEO

All right. So good afternoon, everyone, and welcome to our Q2 call. I'm glad it's usual to be here with our CFO, Bart Adam. And so let us turn to the view on the Q2 results. We had healthy growth of 5% during the quarter, and we grew faster than the market. The operating margin in the quarter of 5% was stable compared to last year, and we had very strong support from North America, while Europe and Ibero-America had weaker performance in the quarter. In Europe, we had a slightly negative price wage balance in 2 countries, and we will come back to this in more detail later on. From a cash flow perspective, we see an operating cash flow of SEK 950 million, which is an improvement versus last year. And all in all, a stronger first half in terms of cash collection and operating cash flow. And during the quarter, we also announced some leadership changes and the creation of 3 expertise units, and I will talk more about this after the review of the financials.

So let us now turn to Security Solutions and Electronic Security. Delivering solutions and

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