Securitas AB (FRA:S7MB)
€ 9.034 -0.09 (-0.99%) Market Cap: 5.32 Bil Enterprise Value: 8.95 Bil PE Ratio: 44.86 PB Ratio: 1.56 GF Score: 81/100
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Q4 2019 Securitas AB Earnings Call Transcript

Feb 06, 2020 / 01:30PM GMT
Release Date Price: €11.81 (-5.11%)
Magnus Ahlqvist
Securitas AB - President & CEO

Good afternoon, everyone, and welcome to our Q3 -- Q4 and 2019 conference call. I am here today, as usual, with our CFO, Bart Adam, to go through the performance in the quarter, followed by a Q&A session.

So let us start with the performance on a group level. We had 2% organic growth in the quarter, and this was below our expectations. But looking at the full year, with 4% growth, we grew faster than the market. Q4 was not a strong quarter from a margin perspective. The operating margin of 5.3% was lower than the same period last year. And this was primarily related to some temporary factors in North America and a weaker Q4 in Europe. The price/wage balance was slightly behind in 2019, and this remains a key focus area as we enter 2020.

But we had a strong cash flow in the quarter. On a full year basis, we achieved almost SEK 4.9 billion in operating cash flow. And in terms of dividend, the Board will propose increasing the dividend from SEK 4.40 to SEK 4.80. 2019 was also an important year because this was the year when we

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