The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Sylvia Pavlova Barker - JPMorgan Chase & Co, Research Division - Analyst
: 3 questions for me, please. Firstly, on North American organic or the group organic, which is easier to answer. Just again, trying to understand the
volume versus price, apologies, but obviously, it's very important in this environment. So clearly, that's where we've seen a bigger delta on the
volume.
If I give you my numbers, maybe that's the easiest way to comment. So I had kind of minus 4 for volumes in North America in Q4, probably reducing
to about minus 6% in Q1 this year. And then for the group, the equivalent is minus 1% volume in Q4 and minus 2% for Q1. Can you maybe just
comment versus these numbers and give us a feel if they're right?
Then the second question I have is around airport security. A lot of the catch-up in Q1 has understandably been from higher airport volumes. And
obviously, we're seeing a large recovery in that segment going forward. But could you just comment where your airport security revenue stands
today versus 2019? And maybe if you can make a comment across the different regions as well where you have a bigger airport business?
And then finally, my final question was just on the benefits of the European cost savings program and how much that benefited the margin in Q1
'22.
Question: Sylvia Pavlova Barker - JPMorgan Chase & Co, Research Division - Analyst
: Yes. I mean I guess it would be helpful if you could let us know whether in North America, I guess, the price impact has changed from Q4 into Q1
because that's obviously not hyperinflation driven, that's driven by your pricing actions? And I guess I'm just assuming there's about a 4% price
element within North America kind of Q4 '21, maybe 5% in Q1. This year, it would just be interesting if you could clarify that at all, but I don't know
if you can give that level of detail.
Question: Karl-Johan Bonnevier - DNB Markets, Research Division - Analyst
: Just a couple of follow-ups on the announcements you have already given. Looking at labor shortages, I noticed that you are not commenting
about it really related to North America or Iberia-America. Is it not an issue for you there?
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MAY 04, 2022 / 12:30PM, SECUb.ST - Q1 2022 Securitas AB Earnings Call
Question: Karl-Johan Bonnevier - DNB Markets, Research Division - Analyst
: Excellent color. And on that portfolio management, I noticed in the report that you stopped giving the retention rates for customer retentions in
the different regions. Is there anything specific happening there? And why would you have chosen not to give that data anymore?
Question: Karl-Johan Bonnevier - DNB Markets, Research Division - Analyst
: At the group level, you will still be around 90%, 91%, then basically?
Question: Karl-Johan Bonnevier - DNB Markets, Research Division - Analyst
: And one final for me. Given what's happening in Turkey, are you looking to turn over to hyperinflation accounting in coming quarters?
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