SECU-BNasdaq StockholmIndustrialsIFRS · SEK

Securitas

Securitas is a Sweden-based security services group that provides guarding, technology-enabled security, and risk management services to clients in many countries. Its business combines on-site and mobile guarding, airport security, fire and safety services, alarm and video systems, monitoring, and integrated security solutions delivered through a decentralized branch network.

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Revenue155.1bn SEK
−4.2 %y/y
Operating profit (EBIT)9,073m SEK
−2.4 %y/y
EBIT margin5.9%
+0.1 ppy/y
Net income5,144m SEK
−0.5 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

050100150200bn SEK2020: 108.0 bn SEK2020: EBIT 3.8 bn SEK20202021: 107.7 bn SEK2021: EBIT 4.7 bn SEK20212022: 133.2 bn SEK2022: EBIT 6.5 bn SEK20222023: 157.2 bn SEK2023: EBIT 4.9 bn SEK20232024: 161.9 bn SEK2024: EBIT 9.3 bn SEK20242025: 155.1 bn SEK2025: EBIT 9.1 bn SEK2025155.19.1
RevenueOperating profit (EBIT)
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Business

Share of revenue
Security services64 %

Guarding, patrols, aviation security, and fire/safety services delivered on client sites.

Technology and solutions34 %

Alarm, video, access control, monitoring, installation, and integrated security offerings.

Risk intelligence services2 %

Data- and tech-driven risk analysis and expert advisory services for clients.

Customers

Securitas sells to a broad mix of businesses and institutions that need physical protection, monitoring, and integrated security design. Its clients include large enterprises, public-sector sites, airports, and organizations with complex, multi-site security needs that benefit from long-term contracts and recurring service relationships.

Large enterprise clients

Buy on-site guarding, mobile patrols, and integrated security programs for multi-site operations.

Aviation customers

Buy airport screening, perimeter protection, and specialized security staffing.

Public sector and critical sites

Buy guarding and safety services for facilities that require continuous protection.

Technology and solutions customers

Buy alarm, video, access control, monitoring, installation, and maintenance services.

Event and temporary security customers

Buy short-duration extra sales for concerts, sports events, and disruptions.

Strategy

Securitas focuses on combining guarding with technology and data-driven security solutions so it can serve more complex client needs than traditional guarding alone. The company also emphasizes long-term client relationships, recurring revenue, and a global platform that can be scaled across markets while using local branch execution.

Grow technology-enabled security solutionsMedium term

Integrated systems, monitoring, and SaaS services deepen client relationships and raise recurring revenue.

Improve guarding quality and productivityShort term

Guarding remains the core revenue base, so pricing discipline and labor productivity matter to service economics.

Build a global security solutions platformLong term

A broader platform helps win multinational clients and cross-sell multiple services under one contract.

Geography

Securitas operates globally through about 1,800 branch offices in 44 markets, with daily delivery organized close to client sites. Reported sales are concentrated in North America, Europe, and Ibero-America, which makes local labor markets, regulation, and country-specific demand conditions important to the business.

Risks

Securitas is exposed to labor availability, wage inflation, contract retention, and execution risk because most services are delivered by people on client sites. It also faces technology disruption, cyber risk, geopolitical uncertainty, and accounting judgment risk from goodwill, provisions, derivatives, and claims-related estimates.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Labor shortages and wage inflation1Client retention and contract renewal risk2Technology and cyber disruption4Geopolitical and regional instability5
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Labor shortages and wage inflationImpact: HighLikelihood: Medium

    Guarding and security services depend on a large workforce, so staffing and pay trends directly affect delivery and pricing.

    Exposure: Security services and on-site operations

  2. Client retention and contract renewal riskImpact: HighLikelihood: Medium

    A large share of sales is portfolio-based and contract-driven, so lost accounts reduce recurring revenue.

    Exposure: Long-term guarding and solutions contracts

  3. Goodwill and acquisition-related impairmentImpact: High

    The balance sheet includes significant goodwill and intangibles that depend on future growth and margin assumptions.

    Exposure: Acquired operations and reporting units

  4. Technology and cyber disruptionImpact: MediumLikelihood: Medium

    The business increasingly relies on digital monitoring, SaaS, and connected systems that can be disrupted or attacked.

    ExposureTechnology and solutionsMonitoring centers
  5. Geopolitical and regional instabilityImpact: MediumLikelihood: Low

    Security demand and operating conditions can change quickly in conflict-affected or politically unstable markets.

    ExposureEuropeMiddle EastOther international markets
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Accounting

Judgemental items
Revenue recognition for guarding and solutions contracts

Multi-year contracts, installations, and recurring services can have different recognition patterns and timing.

Impact: Affects revenue phasing and comparability across quarters

Goodwill and acquisition-related intangible impairment

The company carries significant goodwill and client-related intangibles that depend on future cash flows.

Impact: Can create large non-cash charges if assumptions weaken

Claims reserves and contingent liabilities

Security operations can generate legal claims, insurance recoveries, and other provisions requiring judgment.

Impact: Affects operating expenses and balance sheet liabilities

Derivative and hedge accounting

Interest-rate and FX derivatives are used to manage financial risk and can create OCI or P&L volatility.

Impact: Affects financial income, expenses, and equity

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Last updated: 24/09/2026