Securitas AB (OTCPK:SCTBF)

$ 13.3 0.55 (4.31%) Market Cap: 7.18 Bil Enterprise Value: 10.98 Bil PE Ratio: 16.67 PB Ratio: 2.15 GF Score: 74/100

Q1 2020 Securitas AB Earnings Call Transcript

May 07, 2020 / 12:00PM GMT

Release Date Price: $11.29

Transcript

Magnus Ahlqvist

Securitas AB - President & CEO

Good afternoon, everyone. And warm welcome to our Q1 conference call. I'm here today, I should highlight virtually with our CFO, Bart Adam due to the current circumstances with COVID-19. Bart is dialing in from home in Belgium and I am in Stockholm at the location where we have our annual general meeting after this session. Today, we'll go through the Q1 performance as usual, but we will also share more information and context related to COVID-19. So let us start with the performance on a group level and some of the highlights. We had a decent start in January and February from a growth perspective, but after lower growth in the month of March, our organic sales growth landed at 2% in the quarter. The operating income and margin were impacted by COVID-19. And we had a negative impact in all business segments, but the largest impact in continental Europe. And when I say that, that's prevented then within the European division, but also in Spain and Portugal. We had an operating margin of 3.8% compared with 4.8% last year. But in terms of the important

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