Securitas had a mitigated Q1 21 with flat organic sales due to weaknesses in the Security Services Europe and Ibero-America and a strong increase in the operating margin (+1.1pt to 4.9% of sales) thanks to cost savings related to the programme launched in 2020, lower provisions for bad debts and the improvement in profitability of the airport security activities on the back of contract reviews. This release does not lead us to change our 2021 estimates.
05 May 2021
Mitigated start to the year
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Mitigated start to the year
- Published:
05 May 2021 -
Author:
Hélène Coumes - Pages:
Securitas had a mitigated Q1 21 with flat organic sales due to weaknesses in the Security Services Europe and Ibero-America and a strong increase in the operating margin (+1.1pt to 4.9% of sales) thanks to cost savings related to the programme launched in 2020, lower provisions for bad debts and the improvement in profitability of the airport security activities on the back of contract reviews. This release does not lead us to change our 2021 estimates.