Organic sales improved sequentially (0% vs -4% in Q2 20), in line with expectation, and the EBITA margin decreased to 5% of sales (-0.6pt), lower than expected. North America returned to organic growth. Inversely, Europe continued to be negatively impacted by lower activity in the Aviation segment but less so than in Q2 20. We expect the top-line to prove resilient in Q4 20 and onwards although the improvement in operating margin is unlikely to be significant before Q2 21.
03 Nov 2020
A margin rebound will require patience
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A margin rebound will require patience
Securitas AB Class B (SECU.B:OME), 0 | Securitas AB Class B (SCTBF:OTC), 0 | Securitas AB Class B (S7MB:FRA), 0 | Securitas AB Class B (0IAH:LON), 0
- Published:
03 Nov 2020 -
Author:
Hélène Coumes -
Pages:
3
Organic sales improved sequentially (0% vs -4% in Q2 20), in line with expectation, and the EBITA margin decreased to 5% of sales (-0.6pt), lower than expected. North America returned to organic growth. Inversely, Europe continued to be negatively impacted by lower activity in the Aviation segment but less so than in Q2 20. We expect the top-line to prove resilient in Q4 20 and onwards although the improvement in operating margin is unlikely to be significant before Q2 21.