Securitas has entered into an agreement to divest its German cash handling operation to the German company Heros. The agreement is effective from November 28, 2005. Securitas main activity in Germany, which is not affected by the agreement, is Security Services and Security Systems with total sales 2005 of MSEK 4,100 (MEUR 430).
Securitas entered the German cash handling market through the acquisition of Protectas in 1992. The German cash handling operation has total sales of MSEK 590 (MEUR 62) and has never reached sufficient size or profitability.
"The agreement puts an end to Securitas losses in Germany in Cash Handling Services and enables us to further increase focus on the cash handling business in other European countries and in the USA", says President and CEO Thomas Berglund.
After the divestment Securitas Cash Handling Services has total annual sales of MSEK 11.000 (MEUR 1,150) and activities in 10 countries in Europe and in USA.
The transaction will result in a net capital loss estimated to MSEK 150 (MEUR 16). This excludes the operating loss for Cash Handling Services activities in Germany which is estimated to MSEK 60 (MEUR 6).
Further information can be obtained from:
Thomas Berglund, President and CEO +44 (0) 20 8432 6500
Håkan Winberg, Executive Vice President and CFO +44 (0) 20 8432 6500
Henrik Brehmer, Senior Vice President Investor Relations +44 (0) 20 8432 6523
+44 (0) 7884 117 192
The press release is also available on: www.securitasgroup.com
Notes to Editors:
Securitas is a world leader in security, active in more than 20 countries in Europe and North America. Securitas employs over 200,000 people and the operations are organized in five specialized divisions; Security Services USA and Security Services Europe for guarding solutions, Security Systems for integrated and high end security systems, Direct for professional and consumer alarm concepts and Cash Handling Services for cash processing, transport and ATM services. Over the past 15 years, Securitas has grown to be the world's largest security company with a market share of 8 percent of the total world market. Securitas' annual sales are approximately MSEK 60,000.
Securitas Cash Handling Services offers transport, cash management and ATM services in 10 countries in Europe and the USA. Customers are mainly banks and retailers and through nationwide infrastructures with high density, Securitas can offer complete cash services to customers covering the entire flow of cash. As a whole, Securitas has a market share in Europe of about 20 percent and in the USA the market share is 22 percent. The division has total sales of approximately MSEK 11,000 (MEUR 1,150) and 20,500 employees.
Securitas in Germany are active within Security Services and Security Systems. Security Services provide specialized guarding solutions for large and small customers and for high security environments like Air and Seaports. The operation is organized in 20 geographical areas and 105 local branches creating a nationwide infrastructure. Total sales are MSEK 3,800 (MEUR 400) with 13,600 employees. Security Systems offers high security systems for Banks and retail chain customers. Security Systems has through organic growth and recent acquisitions built a leading position within the bank security segment. Total sales are MSEK 260 (MEUR 27) with 250 employees.
The press release can be downloaded from the following link:
Securitas divests German cash handling operation
Published
28 November 2005 08:00
