Securitas AB Q3 2021 Earnings Call Transcript - Thomson StreetEvents

Securitas AB Q3 2021 Earnings Call Transcript

Securitas AB Q3 2021 Earnings Call Transcript - Thomson StreetEvents
Securitas AB Q3 2021 Earnings Call Transcript
Published Oct 29, 2021
15 pages (10743 words) — Published Oct 29, 2021
Price US$ 54.00  |  Buy this Report Now

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Abstract:

Edited Transcript of SECUb.ST earnings conference call or presentation 29-Oct-21 12:30pm GMT

  
Brief Excerpt:

...Good afternoon, everyone, and welcome to our Q3 call. I am here today with our CFO, Andreas Lindback, to share some of the highlights of the business in the third quarter. We continue to execute on our strategy, and this is generating results. The work we have been undertaking during the last 18 months to sharpen the business together with firm execution of the transformation programs is resulting in a stronger business. And we're now delivering an operating margin which is well above pre-COVID levels. The organic sales growth in the quarter was 4%. We are winning more business at stable or improved margins versus last year, and the improving sales have helped offset the reduction in corona related extra sales. The operating margin improved to 5.9%, and this means another quarter with substantial improvement not only versus 2020, but also in the same period of 2019. The operating margin was supported by strong performance improvement in all business segments. We are on par in terms of price/wage,...

  
Report Type:

Transcript

Source:
Company:
Ticker
SECUb.ST
Time
12:30pm GMT
Format:
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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: Katherine Somerville - UBS Investment Bank, Research Division - Analyst : My first question is on North America. Given that you've delivered a margin above 7% in 2 quarters this year, would you ever revise up your target for 2022? And then secondly, in terms of your own employee turnover, how has that trended over the course of last year and this year, please?


Question: Andrew Charles Grobler - CrTdit Suisse AG, Research Division - Analyst : Just 3 for me as well. Firstly, just on the U.S. transformation program as that comes to an end. Can you quantify the benefits you've -- from a margin or an absolutely corona basis that you have generated from that program. I know there's lots of moving parts within the U.S. It would be good to know on that score. Secondly, central costs in Q3 were up quite significantly. Could you talk us through why that is? And then lastly, just to go back to wage growth in North America. And you talked about kind of price and wage being imbalanced. Could you just say what level of wage increase you are seeing through Q3?


Question: Andrew Charles Grobler - CrTdit Suisse AG, Research Division - Analyst : It does. Can I just go back to the -- to a very quick one on the nonrecurring item, why was that not split out into items affecting comparability? Can you quantify how big it was? I know it's a small topic, but it'd be good to know.


Question: Johan Eliason - Kepler Cheuvreux, Research Division - Analyst : This is Johan. I was just -- some tidbits on the cash flow. You mentioned here that you have paid roughly SEK 600 million of the relief measures in North America in the quarter. How much was that in the full year? And then do I understand you correctly that there's nothing more to be paid in the fourth quarter, but rather sort of at the end of next year instead?


Question: Johan Eliason - Kepler Cheuvreux, Research Division - Analyst : Sounds a bit lower than I thought in my numbers at least. But anyhow, how should I think about the fourth quarter cash flow pattern? Is there any particular seasonality or things that will happen then in the fourth quarter? Obviously, not including this VAT repayment anymore.


Question: Oscar Val Mas - JPMorgan Chase & Co, Research Division - Analyst : Most of my questions have been asked, but there's 2 follow-ups -- sorry, 2 additional questions. The first one on, just could you comment on your exposure to fleet or fuel costs? And if that is significant, can you pass that through to customers? And then the second question is on government grants. So you say you have 800 people in Europe. You had SEK 100 million benefit in Q3. What's your initial thinking of that benefit in Q4? Do you think that will drop off further?


Question: Oscar Val Mas - JPMorgan Chase & Co, Research Division - Analyst : And question just on provision releases. So you haven't released any to date. When do you think you will assess the ability to release your provisions?

Table Of Contents

Securitas AB Investor Day Transcript – 2022-08-24 – US$ 54.00 – Edited Transcript of SECUb.ST corporate analyst meeting</ 24-Aug-22 12:00pm GMT

Securitas AB Q2 2022 Earnings Call Transcript – 2022-07-28 – US$ 54.00 – Edited Transcript of SECUb.ST earnings conference call or presentation 28-Jul-22 12:30pm GMT

Securitas AB Q1 2022 Earnings Call Transcript – 2022-05-04 – US$ 54.00 – Edited Transcript of SECUb.ST earnings conference call or presentation 4-May-22 12:30pm GMT

Securitas AB Q4 2021 Earnings Call Transcript – 2022-02-08 – US$ 54.00 – Edited Transcript of SECUb.ST earnings conference call or presentation 8-Feb-22 8:30am GMT

Securitas AB to Acquire Stanley Security from Stanley Black & Decker Inc Call Transcript – 2021-12-08 – US$ 54.00 – Edited Transcript of SECUb.ST M&A conference call or presentation 8-Dec-21 9:30am GMT

Securitas AB Q2 2021 Earnings Call Transcript – 2021-07-29 – US$ 54.00 – Edited Transcript of SECUb.ST earnings conference call or presentation 29-Jul-21 12:30pm GMT

Securitas AB Q1 2021 Earnings Call Transcript – 2021-05-05 – US$ 54.00 – Edited Transcript of SECUb.ST earnings conference call or presentation 5-May-21 1:00pm GMT

Securitas AB Q4 2020 Earnings Call Transcript – 2021-02-04 – US$ 54.00 – Edited Transcript of SECUb.ST earnings conference call or presentation 4-Feb-21 8:30am GMT

Securitas AB Q3 2020 Earnings Call Transcript – 2020-11-03 – US$ 54.00 – Edited Transcript of SECUb.ST earnings conference call or presentation 3-Nov-20 1:30pm GMT

Securitas AB Q2 2020 Earnings Call Transcript – 2020-07-29 – US$ 54.00 – Edited Transcript of SECUb.ST earnings conference call or presentation 29-Jul-20 12:30pm GMT

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Thomson StreetEvents. "Securitas AB Q3 2021 Earnings Call Transcript" Oct 29, 2021. Alacra Store. May 16, 2025. <http://www.alacrastore.com/thomson-streetevents-transcripts/Q3-2021-Securitas-AB-Earnings-Call-T15010995>
  
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