Securitas AB

Securitas AB
Type Publicly traded Aktiebolag (OMXSECU B)
Industry Security
Founded 1934
Headquarters Stockholm, Sweden
Area served North America, Europe, South America, Asia and Africa
Key people Melker Schörling (Chairman), Alf Göransson (President and CEO)
Services Security services (security guarding and mobile patrolling), monitoring, consulting and investigation[1]
Revenue SEK 61.340 billion (2010)[2]
Operating income SEK 3.724 billion before amortization (2010)[2]
Profit SEK 2.081 billion (2010)[2]
Total assets SEK 32.885 billion (end 2010)[2]
Total equity SEK 8.938 billion (end 2010)[2]
Employees 300,000 (November 2011)[3]
Website www.securitas.com

Securitas AB is a security services (security guarding and mobile patrolling), monitoring, consulting and investigation group, based in Stockholm, Sweden.[1] The group has approximately 300,000 employees in 50 countries in North America, Europe, Latin America, Asia, the Middle East and Africa.[4][3] Securitas AB is listed at Nasdaq OMX Stockholm, large cap segment. In 2010, the group had total sales of 61,340 MSEK and an operating income of 3,724 MSEK.[2]

Contents

History

Securitas AB was founded in 1934 in Helsingborg, Sweden, as AB Hälsingborgs Nattvakt, when Erik Philip-Sörensen bought a small guarding company. In 1935, the name was changed to Förenade Svenska Vakt AB. The company expanded through acquisitions of several small security companies, initially in southern Sweden.[5]

In 1949, AB Securitas Alarm was founded as the company's security-technology subsidiary, and during the following decade, the company started expanding internationally.[5]

In 1972, the group was rebranded as Securitas, the Roman goddess of security and stability[6], with a logotype consisting of three red dots and the word "Securitas." The dots are described as representing the group's core values of "Integrity, Vigilance and Helpfulness."[7][1]

In 1976, Erik Philip-Sörensen sold the Securitas group to his sons Jörgen Philip-Sörensen and Sven Philip-Sörensen,[5] and in 1981, the group was divided between the sons, with the international operations developing into what is today G4S and the Swedish operations retaining the Securitas brand.[8]

In 1983, Securitas was sold to the holding company Skrinet, and in 1985, it was acquired by Investment AB Latour, controlled by Gustaf Douglas. Under the new ownership, the group focused on security, and in 1989, an international expansion was initiated, with acquisitions in Norway, Denmark and Portugal, and establishment in Hungary.[8][9]

In 1991, Securitas was listed at the Stockholm Stock Exchange. In 1994, the group distributed ASSA AB (acquired in 1988) to its shareholders. Throughout the 1990s, foreign acquisitions were made in 11 European countries and in the United States.[9]

In 1999, Securitas acquired Pinkerton,[10] and in 2000, Burns Security,[11] and several regional security companies in the United States. These acquisitions made Securitas one of the largest security companies in the world. In 2001, a new organization took effect, with five business areas according to types of services offered, and Loomis Fargo & Company was acquired.[9][12]

In 2003, the group's security services in the United States were integrated under the Securitas brand, and the group's cash handling services were completely divisionalized, with a joint management for U.S. and European operations.[13]

In 2006, the divisions Securitas Systems (alarm, monitoring, and access control systems), and Securitas Direct (solutions for homes and small businesses) were distributed to the group's shareholders and listed at the Stockholm Stock Exchange. In the same year, the divisions Mobile (small and medium-sized customers), and Alert Services (electronic surveillance of homes and businesses) were created (as of 2007 constituting the business segment Mobile and Monitoring).[12][14][15]

In 2007, the United Kingdom cash handling services of the division Loomis were sold to Vaultex Ltd, owned by HSBC and Barclays.[15]

In 2008, the division Loomis (cash handling) was distributed to the group's shareholders and listed at Nasdaq OMX Stockholm.[16]

In 2010, Securitas acquired the security-services operations of Reliance Security Group in the United Kingdom.[17][18]

In 2011, Securitas acquired Chubb Security Personnel in the United Kingdom.[19]

Operations

Securitas is divided into four main business segments, "Security Services North America," "Security Services Europe," "Security Services Ibero-America," and "Mobile and Monitoring." Operations outside of the Americas and Europe are reported in a separate category called "Other," which also includes central expenses.[1][3]

In general, the group operates under the brand Securitas for all business segments. Specialized services including due diligence, background checks, security assessments, brand protection, intellectual property protection, executive protection, investigations, cyber surveillance, computer forensics, social compliance and IT security are performed worldwide under the brand "Pinkerton Consulting & Investigations." These operations are reported as part of the North American business segment.[1] The Danish and Swiss markets are exceptions, in that general security services are provided under the brands Dansikring and Protectas, respectively.[20]

Securitas emphasizes the importance of values to the corporation. The fundamental values are defined as "Integrity, Vigilance and Helpfulness." The organized use of values for managing the group began in 1958, when a number of workshop meetings with employees took place. One of the aims was to reach consensus on the everyday implications of integrity, vigilance and helpfulness, which were by then already established as corporate keywords. The result was the document "Basic Values for Guards" (Handlingsnorm för väktare), a list of 20 theses describing how a security guard should act, which over the years has evolved into the group's current basic values for employees guide.[5][9][12][1][21]

Market

For guarding and mobile security services in 2009, Securitas had a global market share of 11 percent and the following regional market shares:[1]

Region Market share
Europe including Turkey 18 percent
North America (Canada, Mexico and United States) 16 percent
Latin America excluding Mexico 3 percent
Other markets Less than one percent

As of November 9, 2011, Securitas was present in the following 50 countries:[4][3]

Argentina, Austria, Belgium, Bosnia and Herzegovina, Canada, Chile, China (with Hong Kong), Colombia, Croatia, Czech Republic, Denmark (under the brand Dansikring), Ecuador, Egypt, Estonia, Finland, France, Germany, Hungary, India, Indonesia, Ireland, Jordan, Latvia, Luxembourg, Mexico, Montenegro, Morocco, the Netherlands, Norway, Peru, Poland, Portugal, Romania, Saudi Arabia, Serbia, Singapore, Slovakia, South Africa, Spain, Sri Lanka, Sweden, Switzerland (under the brand Protectas), Taiwan, Thailand, Turkey, the United Arab Emirates, the United Kingdom, the United States, Uruguay, and Vietnam.

Key people

Alf Göransson (born 1957) is president and CEO of Securitas.

As of the annual general meeting 2011, Securitas had the following board of directors:[22][1]

Name Year of birth Position Year elected
Melker Schörling 1947 Chairman of the board 1987
Fredrik Cappelen 1957 Board member 2008
Carl Douglas 1965 Board member 1992
Marie Ehrling 1955 Board member 2006
Annika Falkengren 1962 Board member 2003
Alf Göransson 1957 Board member, president and CEO 2007
Fredrik Palmstierna 1946 Board member 1985
Sofia Schörling Högberg 1978 Board member 2005
Åse Hjelm 1962 Employee representative 2008
Susanne Bergman Israelsson 1958 Employee representative 2004
Jan Prang 1959 Employee representative 2008

Ownership

As of December 2010, according to Euroclear Sweden, these were the 10 largest shareholders of Securitas:[23]

Shareholder A shares B shares Percent of capital Percent of votes
Gustaf Douglas, including holdings of family members, Investmentaktiebolaget Latour, Karplaunds Ångbryggeri AB, SäkI AB and Förvaltnings AB Wasatornet 12,642,600 29,470,000 11.54 30.02
Melker Schörling, including holdings of family members and Melker Schörling AB 4,500,000 16,008,700 5.62 11.75
Didner & Gerge Fonder Aktiebolag 0 15,872,295 4.35 3.06
Swedbank Robur funds 0 14,501,803 3.97 2.79
Lannebo funds 0 13,234,000 3.63 2.55
SEB Investment Management 0 11,034,379 3.02 2.12
HQ funds 0 9,183,500 2.52 1.77
AMF funds 0 8,266,172 2.26 1.59
Handelsbanken funds incl XACT 0 8,256,534 2.26 1.59
CACEIS/Crédit Agricole CIB 0 8,000,000 2.19 1.54
Sum 17,142,600 133,827,383 41.35 58.78

See also

References

  1. ^ a b c d e f g h "Annual Report 2009" (PDF). Securitas. http://www.securitas.com/Global/_DotCom/Annual%20reports/SECURITAS_AR2009_Printed_ENGLISH_240301.pdf. Retrieved 2010-12-22. 
  2. ^ a b c d e f "Full Year Report January–December 2010" (PDF). Securitas. February 8, 2011. http://www.securitas.com/Global/_DotCom/Interim%20Reports/2010-Q4/Full%20year%20report%20Jan-Dec%202010.pdf.pdf. Retrieved 2011-02-21. 
  3. ^ a b c d "Interim Report January–September 2011" (PDF). Securitas. 2011-11-09. http://www.securitas.com/Global/_DotCom/Interim%20Reports/2011-Q3/Final_Q3_ENG_2011.pdf. Retrieved 2011-11-23. 
  4. ^ a b "Annual Report 2010" (PDF). Securitas. http://www.securitas.com/Global/_DotCom/Annual%20reports/Annual_Report_2010.pdf. Retrieved 2011-11-24. 
  5. ^ a b c d Söderberg, Sten (1979) (in Swedish). Vakt av värde [Guard of value]. Stockholm: Securitas (printed by Kugel Tryckeri AB). 
  6. ^ Dictionary of Roman Religion, Lesley Adkins and Roy A. Adkins, 2001, Oxford Univ Press, ISBN 9780195142334
  7. ^ "Annual Report 2005" (PDF). Securitas. http://www.securitas.com/Global/_DotCom/Annual%20reports/AR%2005.pdf. Retrieved 2011-02-28. 
  8. ^ a b "Our History". Securitas. http://www.securitas.com/en/About-Securitas/Our-History/. Retrieved 2011-02-21. 
  9. ^ a b c d "Annual Report 2000" (PDF). Securitas. http://www.securitas.com/Global/_DotCom/Annual%20reports/AR%2000.pdf. Retrieved 2011-02-21. 
  10. ^ "Securitas - press release". Cision Wire. 2009-02-22. http://www.cisionwire.com/securitas/securitas-and-pinkerton-to-form-world-leader-in-security-2. Retrieved 2011-02-22. 
  11. ^ "Securitas - press release". Cision Wire. 2000-08-03. http://www.cisionwire.com/securitas/securitas-to-acquire-burns-2. Retrieved 2011-02-22. 
  12. ^ a b c "Annual Report 2001" (PDF). Securitas. http://www.securitas.com/Global/_DotCom/Annual%20reports/AR%2001.pdf. Retrieved 2011-02-21. 
  13. ^ "Annual Report 2003" (PDF). Securitas. http://www.securitas.com/Global/_DotCom/Annual%20reports/AR%2003.pdf. Retrieved 2011-02-21. 
  14. ^ "Annual Report 2006" (PDF). Securitas. http://www.securitas.com/Global/_DotCom/Annual%20reports/AR%2006.pdf. Retrieved 2011-02-21. 
  15. ^ a b "Annual Report 2007" (PDF). Securitas. http://www.securitas.com/Global/_DotCom/Annual%20reports/AR%2007.pdf. Retrieved 2011-02-21. 
  16. ^ "Annual Report 2008" (PDF). Securitas. http://www.securitas.com/Global/_DotCom/Annual%20reports/AR%2008.pdf. Retrieved 2011-02-21. 
  17. ^ "Securitas to acquire Reliance Security Services in the United Kingdom". Securitas. 2010-09-30. http://www.securitas.com/en/News/Press-Releases/2010/Securitas-to-acquire-Reliance-Security-Services-in-the-United-Kingdom/. Retrieved 2011-04-06. 
  18. ^ "Approval of Securitas’ acquisition of Reliance Security Services in the United Kingdom". Securitas. 2010-11-10. http://www.securitas.com/en/News/Press-Releases/2010/Approval-of-Securitas-acquisition-of-Reliance-Security-Services-in-the-United-Kingdom/. Retrieved 2011-04-06. 
  19. ^ "Securitas completes acquisition of Chubb Security Personnel Limited in the United Kingdom". Securitas. 2010-04-01. http://www.securitas.com/en/News/Press-Releases/2011/Securitas-completes-acquisition-of-Chubb-Security-Personnel-Limited-in-the-United-Kingdom/. Retrieved 2011-11-23. 
  20. ^ "Annual Report 1999" (PDF). Securitas. http://www.securitas.com/Global/_DotCom/Annual%20reports/AR%2099.pdf. Retrieved 2011-11-23. 
  21. ^ "Securitas Code of Conduct" (PDF). Securitas. http://www.securitas.com/Global/_DotCom/Securitas%20Code%20of%20Conduct.pdf. Retrieved 2011-02-21. 
  22. ^ "Minutes of Annual General Meeting of shareholders in Securitas AB" (PDF). Securitas. http://www.securitas.com/Global/_DotCom/AGM%202011/Minutes%20AGM%202011.pdf. Retrieved 2011-11-23. 
  23. ^ "Shareholders". Securitas. http://www.securitas.com/en/Investor-relations/The-Share/Shareholders/. Retrieved 2011-02-28. 

External links