Securitas AB delivers robust fourth‑quarter performance, surpasses margin targets
Securitas AB (ticker SEB: SEB) announced on 4 February 2026 that its fourth‑quarter operating margin reached 8.0 %, a slight lift to an adjusted 8.2 %. The result confirms the company’s ambition to hit an 8 % margin by the end of 2025, a target that the management team described as “ambitious but now achieved.” The achievement underscores Securitas’s strengthened focus and enhanced service quality across its global portfolio.
Earnings and cash flow
The quarter’s EBITA rose to SEK 3.063 bn, beating the consensus estimate of SEK 3.029 bn and generating an 8 % EBITA margin—higher than the expected 7.8 %. The company’s cash‑flow performance remains robust, with strong expansion in all service segments. SEB’s analysts noted that the earnings‑before‑interest‑tax‑depreciation‑and‑amortisation (EBITA) exceeded forecasts thanks in part to solid results in North America and Europe.
Revenue and growth
Total revenue for the quarter fell 8.1 % year‑over‑year to SEK 38.422 bn (from SEK 41.794 bn in the same period last year). Organic sales growth of 3 % was reported, and the company highlighted a 3 bn SEK EBITA increase relative to the prior year. While the headline figure shows a decline, management attributes this to a temporary dip in certain contracts, many of which are set to conclude in the first half of 2026.
Dividend upgrade
In light of the stronger-than‑expected EBITA, Securitas’ board has proposed an increase in the ordinary dividend. The adjustment reflects the company’s confidence in its cash‑generation capability and its commitment to delivering value to shareholders.
Leadership transition
Earlier in the day, the company announced that Chief Financial Officer Andreas Lindback will step down from the second quarter of 2026 to focus on family matters. Having served Securitas for 15 years, Lindback’s departure marks the end of a significant tenure. A search for a successor has begun, and the board remains committed to maintaining financial discipline during the transition.
Strategic focus on Europe
Securitas highlighted the ongoing evaluation of underperforming security contracts in Europe, a process slated for completion in the first half of 2026. The company’s CEO, Magnus Ahlqvist, emphasized that the firm’s European operations remain a key growth lever, while the North American market continues to deliver robust margins.
Market context
With a market capitalization of SEK 83.76 bn and a price‑earnings ratio of 16.63, Securitas trades around SEK 139.2 per share as of 9 October 2025, having reached a 52‑week high of SEK 159.8 on 12 February 2025 and a low of SEK 125.85 on 6 April 2025. The company’s global footprint—spanning North America, Europe, Latin America, Africa, the Middle East, Asia, and Australia—provides a diversified revenue base across a wide array of security services, including on‑site, mobile, and remote guarding, electronic security, fire and safety, and risk management.
Outlook
Securitas’ latest results reinforce its trajectory toward a stable, high‑margin business model. The company’s focus on contract optimization, operational efficiency, and geographic expansion positions it well for continued growth. Investors can expect continued dividend enhancements, provided the firm sustains its cash‑flow generation and margin expansion in the coming quarters.
