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 2020 Securitas AB Earnings Call Transcript

Jul 29, 2020 / 12:30PM GMT

Release Date Price: $14.49

Transcript

Magnus Ahlqvist

Securitas AB - President & CEO

Good afternoon, everyone, and welcome to our Q2 call. I'm Magnus Ahlqvist, and I'm here today in Stockholm, while our CFO, Bart Adam, is in Brussels.

First, I would like to start by highlighting the tremendous contributions by our people, together with our clients, in the last few months. These have been very challenging times and a very different quarter, and the Securitas team has shown incredible resilience and ability and adding important value and helping our clients and society at large.

But let us now turn to performance in the quarter and the overall situation, which is heavily impacted by COVID-19. So like I said, this has been a different and a challenging quarter. Organic sales growth was a negative 4%. And there was a COVID-19 impact on all segments, the most significant impact in Europe, mostly related to our larger aviation presence. While we had more negative growth in April and May, we recorded minus 2% organic sales growth in the month of June.

The operating income and margin were impacted by COVID-19, and we

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