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Securitas (SECU) investor relations material
Securitas Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved a record Q3 operating margin of 8.1%, surpassing the 8% target, with adjusted margin at 8.3% and strong contributions from all segments.
Organic sales growth was 3% in Q3, with North America and Ibero America leading, and adjusted organic growth at 4%.
EPS before items affecting comparability increased 19% year-over-year, with operating cash flow at 106% of operating income.
Net debt to EBITDA improved to 2.2, supporting deleveraging and a strong balance sheet.
Business optimization and SCIS government business close-down are progressing as planned, expected to enhance long-term profitability.
Financial highlights
Q3 sales were SEK 38,521 million, down 2–4% year-over-year; 9M sales SEK 116,691 million, down 3%.
Operating income before amortization rose 11% in Q3 to SEK 3,107 million.
Free cash flow reached SEK 2.7 billion, supported by strong operating cash flow and lower interest payments.
Finance net reduced by SEK 158 million year-over-year, with full-year finance net expected at SEK 1.8–1.9 billion.
Full-year forecasted tax rate is 29.2%, adjusted to 26.8% excluding closedown costs.
Outlook and guidance
On track to achieve and potentially exceed the 8% operating margin target for 2025, with further portfolio optimization and business transformation expected.
Real sales growth in Technology and Solutions below expectations; improvement is a priority.
Active Portfolio Management in Europe and Ibero America to be completed by 2026, with growth expected to recover post-completion.
Majority of positive tax timing impacts in cash flow expected to reverse in Q4, with a negative impact of $30–40 million.
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