Securitas has brought out its interim report for the first three months of 2011.
Alf Göransson, President and Chief Executive Officer, said that in Europe in general, price pressure remains high “and even though winning and losing contracts is the normal course of the business, the losses have been exceptionally high in the first quarter and are consequently causing a negative impact on the operating margin. Actions are taken to improve the situation, short term as well as in longer term.”
He also said: “The positive sales trend from the last quarter of 2010 continued in the first quarter of this year, and the organic sales growth amounted to 3 percent, and including acquisitions, the real sales growth was 10 percent. Eight major acquisitions have been completed so far in 2011, adding an annual sales value of approximately MSEK 2,700 and approximately 14,500 employees.
In North America the security market is recovering well. The sales of security solutions, with the added value tools and services that gradually have been introduced to existing and new customers, continued to increase its share of total sales.
In Europe, the growth was good in macro-economically better performing countries, while the organic sales growth was more modest in countries still struggling with their financial situation.
In the short perspective, focus and attention is paid to labor markets recovering under competitive market conditions, and thus managing the price and wage cost balance. In the longer perspective, we continue to pursue our strategy of specialisation and segmentation, strengthening our capabilities in technology and added value tools and services, and to selectively make acquisitions in mature and new markets with the target to be present in approximately 60 countries within three years.
