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

Q2 2023 Securitas AB Earnings Call Transcript

Jul 28, 2023 / 12:30PM GMT

Release Date Price: $8.75 (-0.79%)

Transcript

Magnus Ahlqvist;publ;President;CEO

Securitas AB

()-&

Good afternoon, everyone, and welcome to our Q2 update. We are going through extensive transformation of our business, and I'm glad to say that we are progressing well with that work and delivering improved performance across the board.

So looking at some of the highlights from the second quarter. We have continued with good organic sales growth momentum at 11%. And our technology solutions business is an important driver with 12% real sales growth. And this, as previously communicated, is excluding STANLEY Security until 22nd of July this year. But we're looking at the totality, while the primary driver of the organic growth was price increases, we recorded good volume growth in technology solutions and within the airport security business. And the operating margin improved to 6.6% versus 5.8% last year.

Technology and solutions business line is the main driver, including significant margin accretion from the STANLEY acquisition. And we are on par in terms of price wage in the first

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