Securitas tops Q4 core profit expectations driven by European business (updated)

Securitas AB

06/02/2025 07:17

(Adds details and context from paragraph 2)
       Feb 6 (Reuters) - Sweden's Securitas  SECUb.ST  reported
fourth quarter core profit above market expectations on
Thursday, mainly driven by its security services business in
Europe.
    The group, one of the world's largest security services
providers, said its quarterly operating earnings before
amortisation (EBITA) rose to 3.04 billion Swedish crowns ($278.5
million) from 2.68 billion crowns a year earlier.
    That beat analysts' average forecast of 2.98 billion crowns
in a poll provided by the company. 
    Securitas said it was on track with its strategic plan and
remained committed to its operating margin target of 8% by the
end of 2025.
    The acquisition of Stanley Security, which Securitas closed
in 2022, added technology solutions exposure to its
staff-intensive offering, but also loaded it with significant
debt that it has been seeking to reduce in recent quarters. 
    "Late in the fourth quarter, we signed a put option
agreement to divest our airport security business in France due
to the limited opportunity to pursue our long term strategy at a
healthy financial performance," CEO Magnus Ahlqvist said in the
statement.
($1 = 10.9149 Swedish crowns)

 (Reporting by Jesus Calero and Agnieszka Olenska in Gdansk;
Editing by Milla Nissi)
 ((jesus.calero@thomsonreuters.com))