In Q3 19, organic sales growth (+4% vs +6% in Q3 18) was in line with consensus. Securitas was affected by low organic growth in Europe (+1%) due to the loss of some large guarding contracts in France and the UK, effective since Q2 19. The operating margin before amortisation was stable at 5.6% of sales and would have declined by 0.1pt excluding IFRS 16. In Europe, wage increases were not offset by price increases in France and the Netherlands.
06 Nov 2019
Difficult trading conditions in Europe
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Difficult trading conditions in Europe
Securitas AB Class B (S7MB:FRA) | 0 0 0.6% | Mkt Cap: 47,995m
- Published:
06 Nov 2019 -
Author:
Hélène Coumes -
Pages:
3
In Q3 19, organic sales growth (+4% vs +6% in Q3 18) was in line with consensus. Securitas was affected by low organic growth in Europe (+1%) due to the loss of some large guarding contracts in France and the UK, effective since Q2 19. The operating margin before amortisation was stable at 5.6% of sales and would have declined by 0.1pt excluding IFRS 16. In Europe, wage increases were not offset by price increases in France and the Netherlands.