Welcome to our dedicated page for Securitas news (Ticker: SCTBY), a resource for investors and traders seeking the latest updates and insights on Securitas stock.
Securitas AB reports developments tied to its global security services business, technology and solutions operations, and capital structure as an issuer of unsponsored ADRs under SCTBY. Company updates commonly cover interim financial reports, segment reporting changes, transformation and integration work following STANLEY Security, and operating themes such as aviation, critical infrastructure services, digitalization and artificial intelligence.
Recurring corporate news also includes debt refinancing, revolving credit facilities, Eurobond issuance, credit-rating actions, Investor Day targets, sustainability positioning, Annual General Meeting resolutions, dividends, board matters and share authorization decisions.
Securitas has successfully concluded a Schuldschein loan transaction, raising MEUR 300 in the international market. This marks the company's first venture into the Schuldschein market, establishing a new source of long-term funding. The issue was oversubscribed by more than three times the launch amount, with the majority of the funding structured for five years in both Euro and US dollar tranches. The proceeds will be utilized to refinance part of a MUSD 1,146 bridge facility linked to the acquisition of STANLEY Security, finalized on July 22, 2022.
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Securitas has secured a four-year term loan agreement of MEUR 1,100 with nine banks, aimed at refinancing a substantial portion of its MUSD 2,315 bridge facility linked to the acquisition of STANLEY Security, finalized on July 22, 2022. CFO Andreas Lindback stated that this long-term loan provides competitive terms and enhances the company's future funding flexibility. The participating banks include Danske Bank, SEB, and others. This refinancing aligns with Securitas' plans to manage existing debt effectively and streamline its financial obligations.
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Securitas has announced the completion of a rights issue of shares, resulting in significant changes to its share structure as of October 31, 2022. The total number of shares increased from 365,058,897 to 573,392,552, comprising 26,938,371 class A shares and 546,454,181 class B shares. This expansion led to a total vote increase from 519,342,297 to 815,837,891 votes. The issuance included 208,333,655 new shares, with 9,795,771 class A shares and 198,537,884 class B shares added. All new securities remain unregistered under U.S. law.
Securitas announced its trading update for the period July 1 - August 31, 2022, reporting total sales of MSEK 22,233, up from MSEK 17,593 in 2021. Organic sales growth stood at 6%. Notably, technology and solutions sales increased to MSEK 6,595, accounting for 30% of total sales. Operating income before amortization reached MSEK 1,437, a 27% increase, resulting in an operating margin of 6.5% compared to 5.9% in the previous year. The acquisition of STANLEY Security positively impacted sales and margins.
Securitas announced new financial targets following the acquisition of STANLEY Security, completed on July 22, 2022. The targets include annual average sales growth of 8-10% for technology and solutions, an 8% Group operating margin by 2025, and a net debt to EBITDA ratio below 3.0x. The previous earnings per share growth target has been replaced. STANLEY Security reported adjusted sales of MUSD 805 for the first half of 2022, with a 3% organic growth rate. Profitability is expected to improve due to implemented pricing and efficiency measures.
Securitas will host an online Investor Update on August 24, 2022, from 2:00 p.m. CEST to 4:00 p.m. CEST, featuring key executives including President and CEO Magnus Ahlqvist and CFO Andreas Lindback. The session will cover the company's strategy and new financial targets following the acquisition of Stanley Security. Participants can submit questions during the event, which will also include a Q&A session.
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Stanley Black & Decker (NYSE: SWK) has completed the sale of its Security assets to Securitas AB for $3.2 billion in cash. This divestiture, announced on December 8, 2021, will focus the company on its core businesses, including Tools and Outdoor and Industrial sectors. The sale is projected to reduce debt and fund a $2.3 billion share repurchase. In 2021, the Security division generated approximately $1.6 billion in revenue with a low double-digit adjusted EBITDA margin, highlighting the strategic transformation of the business.