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 2022 Securitas AB Earnings Call Transcript

Jul 28, 2022 / 12:30PM GMT

Release Date Price: $8.65

Transcript

Magnus Ahlqvist;publ;President;CEO

Securitas AB

()-&

Good afternoon, everyone, and welcome to our second quarter call. We continue to execute on our strategy, and this is generating results. When looking at the quarter, we increased the business momentum, continued margin improvement and profit growth. The organic sales growth increased to 6% with strong growth in Europe and Ibero-America. We had negative growth as expected in North America, but are now turning the corner and expecting to return to positive growth in the third quarter. The operating margin increased to 5.8%, and we're now almost 1% higher margin when comparing with the pre-COVID years.

North America and Ibero-America are the main contributors and the margin in Europe was stable when comparing to the same period last year. But the external environment continues to be challenging in terms of labor scarcity and inflation, but we are managing well and have a positive price/wage balance year-to-date. And given the circumstances, we will continue to work with dynamic price increases

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