The acquisition of Stanley Security is the most transformative in Securitas’ history, according to Magnus Ahlqvist, Securitas President and CEO, giving the multi-national’s Interim Report for January to September 2022.
He was reporting on the third quarter of the year – a major milestone, Ahlqvist, pictured, said as it is the first report as one company with Stanley Security. He said that bringing together the two companies gave a leading position in the industry. “Combining our talent and expertise sets us up for stronger growth thanks to an outstanding client offering and we expect significant margin enhancement opportunities going forward. Together we have great potential to provide tech-enabled security solutions that create long-term value for our clients and shareholders.”
As for Securitas geographically, its business in Europe improved with support from Stanley, despite continued pressure from cost related to labour shortage and sickness, according to the report. Ahlqvist said that the company had managed ‘a positive price and wage balance in the Group and a continued dynamic price increase approach is key to ensure quality delivery to our clients’.
In Europe (where it does business in 22 countries) for the year so far, the company reported that the post-coronavirus recovery was continuing, particularly in the airport security business. Its client retention rate in the region remained the same at 91 per cent.
Overall for the quarter from July to September, the firm reported organic sales growth of seven per cent, and an operating margin of 6.5 per cent. In its Latin American and Iberian peninsula arm, the firm had organic sales growth of 16 per cent for the third quarter. The firm noted hyper-inflation in Argentina, and Turkey.
