The full report (PDF, 448 kB) - Securitas

ACCOUNTING PRINCIPLES – ADOPTION OF IFRS FROM JANUARY 1, 2005
Securitas consolidated financial statements are from January 1, 2005 prepared in accordance with
International Financial Reporting Standards (IAS/IFRS as endorsed by the European Union) issued by the
International Accounting Standards Board and Interpretations of the Standing Interpretations Committee
(SIC) issued by the International Financial Reporting Interpretations Committee (IFRIC).
The most important accounting principles under IFRS, which is the basis for the preparation of this interim
report, have been published and are available on the Group’s website, www.securitasgroup.com under
the section Financial Information – Accounting Principles. These accounting principles are based on an
adoption of IAS/IFRS in their current form.
The adoption date for IAS/IFRS is January 1, 2005 with comparatives for 2004 restated with the exception
of IAS 39 Financial Instruments: Recognition and Measurement which was adopted on January 1, 2005
without retroactive application in line with the exemptions listed in IFRS 1.
Detailed disclosures regarding the reconciliation between IAS/IFRS and Swedish GAAP can be found
on pages 99-115 in the published Annual Report for 2004. The relevant financial information provided
under Swedish GAAP for 2004 is disclosed in this report as well for reference purposes.
For additional information on the impact of IAS 39 please refer to page 16 of this report.
CORPORATE GOVERNANCE
The new Swedish code for corporate governance will come into effect as of July 1, 2005. Securitas has
published its current principles for corporate governance in the published Annual Report for 2004 and as
separate module on the Group website, www.securitasgroup.com. Securitas is currently analyzing and
preparing to adapt to the code.
THE GROUP’S DEVELOPMENT – OUTLOOK
For the full year 2005, all divisions are expected to improve their performance as a result of stronger
customer focus, refined service offerings and developed organizations. The organic sales growth is expected
to further improve and income before tax, adjusted for changes in exchange rates, are expected to increase
in the range of 10 to 15 percent compared to 2004.
Previous outlook stated February 9, 2005:
The outlook for 2005 is a continuing positive development in line with 2004 driven by the same divisions
as in 2004. Security Services USA is expected during 2005 to turn positive in organic sales growth and
be more in line with the market, whereas margins are expected to continue to be under pressure.
Stockholm, May 3, 2005
Thomas Berglund
President and Chief Executive Officer
This report has not been reviewed by the company’s auditors
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