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 2021 Securitas AB Earnings Call Transcript

May 05, 2021 / 01:00PM GMT

Release Date Price: $17.2

Transcript

Magnus Ahlqvist

Securitas AB - President & CEO

Good afternoon, everyone, and a warm welcome to our Q1 2021 call. Our CFO, Bart Adam; and I are doing this call today, as in the previous quarters, from Stockholm and Brussels.

We are still living in challenging times, but from a Securitas perspective, we keep working with clear direction and priorities, and we've had a good start of 2021.

If we're looking at the highlights from a group perspective. Organic sales growth was flat in the quarter, but we recorded positive growth in all divisions in the month of March. The operating margin improved to 4.9%, and this was a substantial improvement versus last year but also an improvement versus the same period in 2019. The operating margin was supported by strong performance improvement in all business segments. And we took a number of initiatives to sharpen the business and reduce costs in 2020 and these actions contribute to the positive margin development, but at this point in time, we have 4,000 people on temporary unemployment. But government grants help offset the negative impact,

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