Securitas AB-New financial targets ahead of CMD-06/16/2026

研报英文原文证据摘录

Securitas AB-New financial targets ahead of CMD-06/16/2026

Securitas AB

NEWSFLASH | 16 JUN 2026

New financial targets ahead of CMD

Ahead of today’s CMD in London, Securitas released updated financial targets through 2030, including a new headline target

of 10% average annual EPS growth, a raised operating cash flow target to 80-90% (70-80%) of EBITA, a leverage ratio below

2.5x (3.0x) and a dividend policy of 50-60% of net profit. 10% annual EPS growth is broadly in line with cons (9% CAGR 2025-

28E). However, we argue that this signals a shift from management’s previous focus on TNS growth towards capital returns

and cash flow, indicating less confidence in the commercial ability of its TNS solutions but higher likelihood of more

buybacks. CMD starts today at 09:30 CEST.

New financial targets

• Average annual EPS adj. growth of 10% over a business cycle, with a >10% EBITA margin ambition long-term

• Dividend policy of 50-60% of annual net income over a business cycle, with excess capital returned to shareholders once strategic growth

priorities are met

• Net debt/EBITDA below 2.5x

• Operating cash flow of 80-90% of EBITA

Prior financial targets

• 8-10% technology & solutions average annual real sales growth

• 8% group EBITA adj. margin in H2’25, with a >10% long-term ambition

• Net debt/EBITDA below 3.0x

• Operating cash flow of 70-80% of EBITA

Expectations into the CMD

• The CMD’s key focus will be on the company’s ongoing shift towards a technology- and intelligence-led security firm; hopefully indirectly

addressing TNS growth. Recent moves within the space include the Security Risk Management (SRM) unit launch and Liferaft acquisition

(~SEK 138m ARR)