First Read Securitas: New targets announced ahead of CMD

研报英文原文证据摘录

First Read Securitas: New targets announced ahead of CMD

Global Research

15 June 2026ab

First Read

EquitiesSecuritas

New targets announced ahead of CMD Sweden

Industrial Services

12-month rating Neutral

Strategy 2030: new financial targets announced ahead of tomorrow's CMD

Ahead of its CMD in London tomorrow, Securitas has published a press release outlining 12m price target SKr145.00

its 2030 strategy and new financial targets. Under the new strategy, Securitas aims to

'accelerate its transformation into a technology and intelligence-led security partner',

Price (15 Jun 2026) SKr154.90

with the following key financial targets: i) 10% p.a. average EPS growth over the cycle,

excluding 'items affecting comparability' and at constant FX; ii) >10% group operating RIC: SECUb.ST BBG: SECUB SS

margin ambition over the 'long-term', iii) 80-90% operating cash conversion; iv) Net Trading data and key metrics

Debt/EBITDA <2.5x; v) dividend payout of 50-60% of net income over the cycle.

52-wk range SKr172.00-137.10

Securitas notes that the targets reflect 'a stronger emphasis on earnings growth and

Market cap. SKr88.8b/US$9.46b

cash generation', with the new introduction of an EPS growth target and raised targets

Shares o/s 556m (BFREE)

on cash conversion (previously 70-80%). The release also highlights a 'disciplined

approach to capital structure and shareholder returns', with the leverage target trimmed Free float 100%

from <3.0x but dividend policy unchanged. Avg. daily volume ('000) 1,399

Avg. daily value (m) SKr219.8

Investors likely to focus on building blocks of >10% long-term margin ambition Common s/h equity (12/25E) SKr58.5b

Details on the building blocks of the new strategy are limited for now, with full slides for P/BV (12/25E) 1.5x