Securitas AB (publ) (SCTBY) Q3 2026 Earnings Call Transcript

Magnus Ahlqvist
President & CEO

Good morning, everyone, and welcome to our Q3 report that Matteo and I are presenting from Stockholm this morning. So, let’s go straight to the performance highlights. This is a quarter with some clear positive developments, but also a few areas with some weakness. And the adjusted sales growth was 3%. And at a high level, North America contributed with solid Technology & Solutions growth, but Europe was weaker. The real sales growth in Technology & Solutions improved sequentially to 6%, and this was supported by the performance in technology in North America. And similar to the last couple of quarters, the installations order entry growth was very strong in the technology business. So, we had record-level order entry in North America and Ibero-America. And from a strategy execution perspective, I am very pleased with the fact that we are increasing the share of Technology & Solutions across all segments.

The adjusted operating margin was 8.2%, and this was supported by the highest Q3 margin to date in North America, so very good development. But Aviation in Europe had a very negative impact. And if we look at the underlying business performance, so that means when we exclude European Aviation, the operating margin for the group is at 8.4%, so 20-basis-point impact. And I will go through the main reasons in the European section, but given the poor performance, our team has initiated actions to ensure that the Aviation performance returns to acceptable