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

Q3 2020 Securitas AB Earnings Call Transcript

Nov 03, 2020 / 01:30PM GMT

Release Date Price: $14.19

Transcript

Magnus Ahlqvist

Securitas AB - President & CEO

So good afternoon, everyone, and welcome to our Q3 update. The Securitas team has shown strong resilience in the handling of COVID-19 situation in working closely with our partners and our clients during the last 10 months. And before we look at the performance, I would just like to express my deep respect and gratitude to every great colleague in the Securitas team.

So let us now shift to the performance in Q3. And I should mention that I am in Stockholm; and Bart, our CFO, is dialing in from Brussels today. So coming from a challenging quarter in Q2, we have seen clear improvement during Q3. Organic sales growth was flat versus last year, and a significant sequential improvement versus the negative 4% that we had in Q2. And we had a positive development during the quarter, which I think is also important to highlight where the organic sales growth, if you look in the quarter, we had around minus 1% in July, and then 1% positive in August and about 1.5% positive in the month of September. So clearly ended the quarter on a more positive note.

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