Securitas AB Full Year Report Q4 2025 | January-December

Comments from the President and CEO

"8 percent operating margin target achieved"

"We delivered a strong fourth quarter and exceeded our target to achieve an operating margin of 8 percent in the second half year of 2025. Perfor­mance was strong across all segments. North America recorded 10 percent operating margin for the first time in our history and Europe delivered another quarter with more than 8 percent operating margin.

Organic sales growth was in line with our expectations. Technology and solutions real sales growth was 6 percent, an important improvement supporting continued mix change in the business.

Cash generation was solid in the quarter. For the full year operating cash flow was 88 percent (84) of operating income. We have consis­tently strength­ened our cash generation over the last years and the strong cash flow enabled continued reduction of our net debt to EBITDA ratio to 2.1.

A RESILIENT BUSINESS

Our clients operate in a dynamic and complex risk environ­ment. The continued growing demand for security, combined with our long-term partner­ship model, global presence and unmatched capabilities, positions us as their preferred security partner. Our services are primarily delivered locally, forming the foundation of our resilient business model, which in 2025 experienced no material impact from ongoing geopolitical volatility or shifts in global trade.

PROFITABILITY A PRIORITY

Our profitability improvement is a ­result of consistent strategic execution across all areas of the business. In the fourth quarter, a strengthened commercial offering and disciplined cost management improved the oper­at­ing margin to 12.7 percent (11.6) in tech­nology and solutions. In security services, active port­fo­lio management and improved margins on new sales supported an oper­at­ing margin increase to 6.6 percent (5.5).

While the evaluation of underperforming contracts is an ongoing part of our operations, we expect to complete the majority of the current portfolio of under­performing security ­services contracts in Europe by the first half of 2026. The business ­opti­miza­tion ­program concluded as planned, ­delivering the targeted MSEK 200 in annual savings in the fourth quarter.

Our strategic assessment program is nearing its end with limited remaining activities. The close-down of the SCIS government business is progressing according to plan. 

CLIENT-CENTRIC STRATEGIC EXECUTION

During the last few years, we have strengthened our value proposition and profitability in our guarding business, developed a globally leading position in technology and built a more modern and digital business. As the threat landscape becomes more dynamic, we see a growing need from our clients for digital risk intelli­gence solutions that enable more proactive security programs. We started building our risk intelligence capability five years ago and now accelerate our position in this high growth market as we in February 2026 signed a binding agreement to acquire Liferaft, a leading SaaS threat intelligence platform provider currently focused on the North American market.

The acquisition creates significant ­opportunities to apply Liferaft's threat-­intelligence capabilities across our client base. It also contributes to the develop­ment of a more scalable Securitas and strengthens the growth of our high-­margin recurring monthly revenue ­business, which today exceeds BSEK 1.

CREATING LONG-TERM SHAREHOLDER VALUE

Delivering on our target of 8 percent oper­at­­ing margin is important, but only a milestone on an exciting journey with substantial opportunities ahead. We have delivered 20 consecutive quarters of operating margin improve­ment and consistently strengthened our cash flow generation. We strengthened our full-year operating margin to 7.4 percent (6.9) and increased earnings per share with 18 percent in 2025.

Securitas today is a more resilient, scalable, and future-proof company – well positioned to continue generating long-term value for our shareholders. This would not have been possible without our Securitas colleagues and our strong client and partner relation­ships and I would like to thank you for the great contributions during the year."

Magnus Ahlqvist
President and CEO

PRESENTATION OF THE INTERIM REPORT

Analysts and media are invited to participate in a telephone ­conference on February 4, 2026, at 9.30 a.m. (CET) where President and CEO Magnus Ahlqvist and CFO Andreas Lindback will present the report and answer questions. The ­telephone conference will also be audio cast live via Securitas' website www.securitas.com

To follow the audio cast of the telephone conference via the web, please follow the link
www.securitas.com/en/investors/financial-reports-and-presentations/

A recorded version of the audio cast will be available at www.securitas.com/en/investors/financial-reports-and-presentations/
after the ­telephone conference.

For further information, please contact:
Micaela Sjökvist, Vice President, Investor Relations +46 76 116 7443

ABOUT SECURITAS

Securitas is a world-leading safety and security solutions partner that helps make your world a safer place. Nine decades of deep experience means we see what others miss. By leveraging technology in partnership with our clients, ­combined with an innovative, holistic approach, we're transforming the security ­industry. With approximately 322 000 employees in 44 markets, we see a ­different world and ­create sustainable value for our clients by protecting what matters most – their people and assets.

Group financial targets
Securitas has four financial targets:

• 8–10 percent technology and solutions annual average real sales growth
• 8 percent Group operating margin in the second half year of 2025, with a >10 percent ­long-term operating margin ambition
• A net debt to EBITDA ratio below 3.0x
• An operating cash flow of 70–80 percent of operating income before ­amortization

Securitas AB (publ.)
P.O. Box 12307, SE-102 28 Stockholm, Sweden

Visiting address:
Lindhagensplan 70
Telephone: +46 10 470 30 00
Corporate registration number: 556302-7241

www.securitas.com

This is information that Securitas AB is obliged to make public pursuant to the EU Market Abuse Regulation.
The information was submitted for publication, through the agency of the contact person set out above,
at 8.00 a.m. (CET) on Wednesday, February 4, 2026.

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SOURCE Securitas