Artificial Intelligence

Securitas AB Full Year Report January-December 2020

Published

3 years ago

February 4, 2021

Wladimir P.

OCTOBER-DECEMBER 2020

Total sales MSEK 26 477 (28 257)
Organic sales growth 1 percent (2)
Operating income before amortization MSEK 1 404 (1 497)
Operating margin 5.3 percent (5.3)
Items affecting comparability (IAC) MSEK -422 (-83), relating to transformation programs and the cost-savings program in the Group
Earnings per share SEK 1.45 (2.38)
Earnings per share, before IAC, SEK 2.38 (2.54)
Cash flow from operating activities 109 percent (124)

JANUARY-DECEMBER 2020

Total sales MSEK 107 954 (110 899)
Organic sales growth 0 percent (4)
Operating income before amortization MSEK 4 892 (5 738)
Operating margin 4.5 percent (5.2)
Items affecting comparability (IAC) MSEK -640 (-209), relating to transformation programs and the cost-savings program in the Group
Earnings per share SEK 6.63 (9.20)
Earnings per share, before IAC, SEK 8.02 (9.61)
Net debt/EBITDA 2.1 (2.2)
Cash flow from operating activities 147 percent (85)
Proposed dividend for 2020 of SEK 4.00 (4.80) per share
Launch of business transformation program in Europe and Ibero-America

Comments from the President and CEO
The Group continued to show resilience in the face of the ongoing corona pandemic and ended this challenging year with positive organic sales growth of 1 percent (2) in the fourth quarter, driven by Security Services North America. The negative impact of the corona pandemic on the airport security business remains to be significant, primarily in Security Services Europe. Increased extra sales, focus on helping our clients with their security needs related to the corona pandemic, have offset some of the corona-related sales reductions in the contract portfolio. Organic sales growth for the full year was 0 percent (4).

Security solutions and electronic security sales was 22 percent (22) of total Group sales in the fourth quarter. The installation business within electronic security was negatively impacted by the corona pandemic throughout the year.

The Group’s operating margin in the fourth quarter was on par with the preceding year at 5.3 percent (5.3). For the full year the operating margin was 4.5 percent (5.2), negatively impacted by the corona pandemic and the related increased provisioning to reflect the enhanced risk in the business environment. The negative impact was partly offset by cost-saving actions and government grants mostly as a compensation for temporary unemployment costs. The price and wage balance was on par in the year.

The operating result, adjusted for changes in exchange rates, increased by 4 percent in the fourth quarter while it declined by 10 percent over the full year.

The Group delivered a strong cash flow during the year, even when excluding the effects of corona-related government support measures. Supported by the Group’s improving financial performance and solid financial position, the Board of Directors decided to reinstate the dividend proposal for 2019 of SEK 4.80 (4.40) per share which was resolved by an EGM in December.

Taking the next steps

At the beginning of the pandemic, we set an ambition to come out of this challenging period stronger and more focused. The corona pandemic presented all of us with an unprecedented challenge in 2020, but the Securitas team faced this demanding situation with great resilience and agility. During 2020, we executed on our transformation programs and took several actions to improve our focus and profitability.

In 2020 we initiated a cost-savings program in the Group, addressing profitability in parts of our business impacted by the corona pandemic. We previously estimated a range of restructuring costs of MSEK 350-500 with a payback period of two years. The first savings began to have an impact in the fourth quarter and will gradually increase going forward. The final amount of restructuring will largely depend on changes related to government grants and the performance of the airport security business. We expect to finalize the program at the end of the second quarter of 2021.

The business transformation in North America and the global IS/IT transformation initiated in 2019 are progressing well and are expected to be finalized according to plan by the end of 2021, in line with achieving the financial benefits of the programs by 2022. We are now taking the next major step by launching a business transformation program in our two other segments – Europe and Ibero-America. These activities represent significant investments in the execution of our strategy, and we expect to see important benefits as a result. We will enhance the value proposition to our clients and our people. We will be able to benefit more from our scale and from common ways of working. These programs are driven by our strong ambition to change the business mix and to improve our margins.

During 2020, we acquired electronic security companies in eight focus markets. The integration of the five companies acquired from Stanley is progressing well and in December we announced the acquisition of the high-quality FE Moran business in the US. These acquisitions will greatly enhance our offering to our clients and contribute to our ambition to double our security solutions and electronic security business.

We have decided to leave 11 smaller countries where we deem the current and future business opportunities to be limited. We have by now already exited or are close to exiting from nine countries and expect this to be finalized by mid 2021.While we continue to face high-level of uncertainty related to the corona pandemic at the beginning of 2021, we enter the year stronger and more focused and with a clear agenda for pursuing the next steps of our transformation.

Artificial Intelligence

HER HIGHNESS SHEIKHA MOZA FORMALLY LAUNCHES QATAR PRECISION HEALTH INSTITUTE

Published

30 mins ago

May 1, 2024

CISION (PR Newswire)

her-highness-sheikha-moza-formally-launches-qatar-precision-health-institute

Institute builds on 10 years of genomics research to address the under-representation of the Arab genome and unravel a more representative map of the human race
DOHA, Qatar, May 1, 2024 /PRNewswire/ — Her Highness Sheikha Moza bint Nasser, Chairperson of Qatar Foundation, officially launched the Qatar Precision Health Institute, a national body aimed at leveraging the country’s advanced genomics research to accelerate personalized healthcare – leading to more precise treatments and improved health outcomes for people in the Arab world and beyond.

The Qatar Precision Health Institute builds on the groundbreaking work of Qatar Biobank and Qatar Genome Programme, uniting the efforts of Qatar Foundation’s research institutes to provide insights that reveal the effects of lifestyle, environment, and genetics on the Arab population.
Her Highness, Sheikha Moza bint Nasser, spoke at the formal launch event, emphasizing the importance of raising public awareness on the benefits of precision health. She said:
“I am proud that Qatar was the first country in the region to establish a population-based genome program, and has played a pioneering role in ensuring that Arab genomes are included in global genomic databases. Qatar’s efforts have led to faster and more accurate diagnoses of multiple diseases for people from the region. QPHI is building on those successes and taking our knowledge forward to implement clinical solutions that will lead to a healthier future not only for our citizens but for people around the world.”
Qatar Foundation’s work in the field of precision health led to the creation of the Qatari genome catalog, comprising more than 88 million variants, 24 million of which had never been reported previously in international databases.
Dr. Said Ismail, Acting President of QPHI, said:
“The Middle East is home to more than 400 million people, and is one of the world’s oldest inhabited regions, yet it is the most underrepresented in genome sequencing, as over 95% of available genome data comes from Western Europe and North America. Through research and clinical trials conducted at QPHI, we aim to improve the representation of Arab genomes in these datasets, empowering scientists to unravel the complete map of genomes that define the allelic spectrum of the human race, including Africa, East and Southeast Asia.”
QPHI will advance the study of the Arab genome through recruiting Qataris and long-time residents in large numbers, analyzing their biological samples, as well as information about their health and lifestyle. In doing so, it will make vital data accessible for researchers across the region and the world. Partnerships with leading global genomics institutes, including The Global Alliance for Genomics and Health, as well as the Health Institutes of Turkey will ensuring the transferability of discoveries, and strengthen genomics research on a global scale.
To date, Qatar Genome Programme has sequenced the genomes of over 40,000 Qataris or long-term Qatar residents, generating a wealth of data that has helped to inform diagnoses and treatments that have saved lives.
Through the use of precision medicine, a great number of diseases can be detected early, or avoided altogether. Interventions such as rapid genetic screening for heart patients has led to targeted treatment and a reduction in the number of days patients need to stay in hospital, while mandatory newborn screening through heel prick tests screens for over 80 disorders, giving doctors and parents the ability to detect treatable diseases before clinical presentation.
By seamlessly integrating cutting-edge research with clinical applications, QPHI will equip healthcare providers with the means to provide personalized treatment and elevate the standard of care while cementing Qatar’s position as a frontrunner in precision medicine on the global stage.
For more about Qatar Foundation, please visit qf.org.qa.
For more about QPHI, please visit qphi.org.qa
Photo: https://mma.prnewswire.com/media/2401712/Qatar_Foundation.jpg

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Artificial Intelligence

ION LookOut named “Most Innovative Trade Surveillance Solution” at A-Team Innovation Awards 2024

Published

30 mins ago

May 1, 2024

CISION (PR Newswire)

LONDON, May 1, 2024 /PRNewswire/ — ION, a global leader in trading and workflow automation software, high-value analytics and insights, and strategic consulting to financial institutions, central banks, governments, and corporates, announces that ION LookOut has been named “Most Innovative Trade Surveillance Solution” at the A-Team Innovation Awards 2024.

The A-Team Innovation Awards recognize innovative projects and teams across the vendor and practitioner communities that leverage new and emerging technologies to deliver cutting-edge solutions for financial institutions in capital markets. The awards focus on data management, trading technology, ESG, and regtech suppliers whose contributions are advancing these areas.
ION LookOut, developed by LIST – an ION company, is a multi-asset trade surveillance solution used across multiple jurisdictions. Machine Learning for Alarm Classification (MLAC), ION LookOut’s AI-based assistant, helps compliance teams classify multiple alerts, reducing time and effort, and improving efficiency. MLAC optimizes alert management by learning from the past behavior of compliance officers. It helps reduce the workload of compliance officers while raising alarms for the necessary level of tracking activity. The automatic closure of low-profile alerts further streamlines the process, saving time.
“We are thrilled with ION LookOut’s win at the A-Team Innovation Awards 2024. The recognition reflects ION’s dedication to delivering high-value solutions that address our customers’ evolving needs,” said Alvise Insalaco, Chief Executive Officer: LIST.
“It’s an honor to have ION LookOut recognized for its innovative trade surveillance solution,” said Mirko Marcadella, Chief Product and Marketing Officer: LIST. “This award is a testament to ION’s unwavering commitment to push the boundaries of innovation and deliver solutions that empower our customers.”
Angela Wilbraham, CEO at A-Team Group and 4th annual A-Team Innovation Awards 2024 host, commented, “Many congratulations to ION for winning the Most Innovative Trade Surveillance Solution award in recognition of their achievement in delivering high levels of innovation to financial institutions. They should be deservedly proud of this accomplishment.”
ION LookOut was also named Best Solution for Record Retention at the RegTech Insight Awards APAC 2024 earlier this year, further demonstrating ION’s consistent track record of delivering award-winning products.
About ION
ION provides mission-critical trading and workflow automation software, high-value analytics and insights, and strategic consulting to financial institutions, central banks, governments, and corporates. Our solutions and services simplify complex processes, boost efficiency, and enable better decision-making. We build long-term partnerships with our clients, helping transform their businesses for sustained success through continuous innovation. For more information, visit https://iongroup.com/
About ION Markets
ION Markets provides transformative technology and solutions to financial institutions dealing in asset management, cleared derivatives, equities, fixed income, foreign exchange, and secured funding. Our award-winning end-to-end solutions simplify clients’ operations by automating the full trade lifecycle, providing tools to manage risk, and maximizing access to liquidity, while giving real-time access to critical information required for timely operational decisions and execution on a global scale. For more information, visit https://iongroup.com/markets/
About LIST
An ION company, LIST is a leading financial technology provider to the global trading community, including trading venues, market makers, brokers, asset managers, risk managers, and compliance officers. LIST’s innovative turnkey products and delivery, driven by customers’ needs, play a key role in supporting successful business growth in today’s volatile times. Continuous innovation and client partnerships around the globe have built trust and reliance on LIST’sunique real-time and data analytics capabilities. For more information, visit https://www.list-group.com/.
About A-Team Innovation Awards 2024
The A-Team Innovation Awards celebrate innovative projects and teams across the vendor and practitioner communities that make use of new and emerging technologies to deliver high-value solutions for financial institutions in capital markets, with a specific focus on data management, trading technology, ESG and regtech suppliers. For more information, visit https://a-teaminsight.com/awards/a-team-innovation-awards/
All product and company names herein may be trademarks of their registered owners.

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Artificial Intelligence

Open ECX announces partnership with Medius to offer enhanced AP automation capabilities

Published

31 mins ago

May 1, 2024

CISION (PR Newswire)

MANCHESTER, England, May 1, 2024 /PRNewswire/ — Following its recent launch into the channel market, leading e-trading solutions and Accounts Payable (AP) automation software provider, Open ECX, has announced a new partnership with Medius to provide their enhanced suite of advanced AP automation solutions. Open ECX’s statement reconciliation functionality together with Medius’s AP automation and fraud detection offerings offer organisations the ability to automate time consuming, error prone manual processes.

The collaboration will see Open ECX’s statement reconciliation functionality providing a true end to end automation for businesses looking to enhance their Accounts Payable (AP) automation and compliance levels.
Matt Rhodus, VP of Business Development & Strategic Initiatives at Medius, commented: “The partnership with Open ECX fills a void in our product offering with a statement matching and reconciliation solution that integrates with Medius’s AP automation platform. The expertise that the Open ECX team has in industries like construction means that customers get even more operational efficiencies in their financial operations.”
Open ECX is a leading provider of integrated business solutions, including e-trading, statement reconciliation and AP automation, and a pioneer in the P2P space. Its suite of products are designed to enhance operational efficiency and streamline AP processes through seamless integration, automation and innovative technologies, and are compatible with most finance systems used across a multitude of industries and use cases.
Charles Robinson, CCO, Open ECX commented: “At a time when businesses are demanding much more from their finance automation solutions, we’re delighted to be partnering with Medius. Our evolving suite of products have been designed to help finance leaders automate all transactions, while integrating seamlessly into their existing systems and processes. When combined with the power of Medius’ solutions, the partnership will add huge value to customers who are looking to take advantage of holistic, automated AP systems.”
For press information, interviews and images please contact the Open ECX press office:Sara Donnelly: [email protected] T: 07495 090385Clare Wall: [email protected] T: 07974 161127
For more information visit: www.openecx.com
For more information from Medius, please contact:Francesca Cahill (EMEA) at Fight or Flight, [email protected] / [email protected] +44 330 133 0985
For more information visit: www.medius.com
This information was brought to you by Cision http://news.cision.com.
https://news.cision.com/medius/r/open-ecx-announces-partnership-with-medius-to-offer-enhanced-ap-automation-capabilities,c3971365

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