Securitas Annual Report 2007

Note 47. Other intangible assets
MSEK 2007 2006 2005
Opening balance 63.0 58.4 51.5
Capital expenditures 23.0 4.6 6.9
Disposals/write-off –10.6
Closing accumulated balance 75.4 63.0 58.4
       
Opening amortization –43.5 –36.9 –27.6
Amortization for the year –2.8 –6.6 –9.3
Closing accumulated amortization –46.3 –43.5 –36.9
       
Opening impairment losses –10.6
Impairment losses for the year –10.6
Write-off 10.6
Closing accumulated impairment losses –10.6
       
Closing residual value 29.1 8.9 21.5
Note 48. Machinery and equipment
MSEK 2007 2006 2005
Opening balance 11.8 9.6 9.0
Capital expenditures 1.1 2.3 0.6
Disposals/write-off –0.4 –0.1
Closing accumulated balance 12.5 11.8 9.6
       
Opening depreciation –8.2 –7.4 –6.3
Disposals/write-off 0.4 0.1
Depreciation for the year –1.0 –0.9 –1.1
Closing accumulated depreciation –8.8 –8.2 –7.4
       
Closing residual value 3.7 3.6 2.2
Note 49. Shares in subsidiaries1
Subsidiary name   Corporate registration no. Domicile Number of shares % of share capital % of voting rights Book value Parent Company
Securitas Holdings Inc.   95-4754543 Parsippany 100 100 100 2,208.0
Securitas Seguridad Holding SL B83446831 Madrid 30,100 100 100 6,841.0
Securitas Deutschland Finanz Holding GmbH HRB 33348 Düsseldorf 100% 100 100 2,166.0
SL Sicherheit GmbH   HRB 53995 Düsseldorf 100% 100 100 0.2
Securitas Nordic Holding AB   556248-3627 Stockholm 1,000,000 100 100 5,130.5
Loomis AB   556620-8095 Stockholm 1,000 100 100 4,965.4
Securitas Canada Ltd   036580-6 Montreal 4,004 100 100 85.6
Securitas Services International BV 33287487 Amsterdam 25,000 100 100 3,733.4
Securitas N V   0427.388.334 Brussels 1,000 100 100 272.8
Alert Services Holding NV2   RPR617707 Brussels 3,311,669 53.01 53.01 576.3
Securitas Services Holding UK Ltd 5759961 Feltham 250,000 100 100 109.0
Protectas S.A.   CH-550-0084385-3 Lausanne 25,000 100 100 32.8
Securitas Direct S.A.   272139 Bern 500,000 50 50 2.1
Securitas Sicherheitsdienstleistungen GmbH FN148202w Vienna 100 100 100 58.3
Grupo Securitas Mexico, S A de C V GSM930817U48 Monterrey 5,000 100 100 14.5
Securitas Polska Sp. z o. o.   36743 Warsaw 594,000 100 100 15.7
Securitas Argentina S.A.2   1587929 Buenos Aires 1,412,000 20 20 13.5
Securitas CR s r o   CZ43872026 Prague 100% 100 100 8.8
Securitas KFT   Cg.01-09-721946 Budapest 100% 100 100 0.9
Securitas Eesti AS   10188743 Tallinn 1,371 100 100 32.1
Securitas Transport Aviation Security AB 556691-8917 Stockholm 100,000 100 100 126.8
Securitas Treasury Ireland Ltd   152440 Dublin 21,075,470 100 100 2,344.0
Securitas Group Reinsurance Ltd 317030 Dublin 50,000,000 100 100 576.5
Securitas Toolbox Ltd   316907 Dublin 100 100 100 0.0
Securitas Rental AB   556376-3829 Stockholm 1,000 100 100 3.6
Securitas Invest AB   556630-3995 Stockholm 1,000 100 100 21,719.7
AB Jourmontör   556087-1468 Stockholm 100 100 100 0.0
Securitas Security Services SRL 13740159 Bukarest 22 87.75 87.75 5.6
Securitas Alert Services Polska Sp.z o.o. KRS 0000289244 Warsaw 2,000 100 100 2.4
Other holdings             4.6
Total shares in subsidiaries             51,050.1
1 A complete specification of subsidiaries can be obtained from the Parent Company.
2 The remaining 46.99 percent of Alert Services Holding NV and 80 percent of Securitas Argentina S.A., are held by Securitas Seguridad Holding SL.
Change analysis of shares in subsidiaries      
MSEK 2007 2006 2005
Opening balance 51,580.5 54,397.2 45,489.2
Acquisitions 8.2 3.6 579.0
Capital contribution 100.3 7,238.0 8,525.7
Divestitures –196.7
Impairment losses –638.9 –1,539.1
Dividend of shares –8,519.2
Closing balance 51,050.1 51,580.5 54,397.2
Dividend 2006 regards Securitas Direct AB and Securitas Systems AB.    
Note 50. Shares in associated companies
Holdings 2007        
Company Domicile office Share in equity, % % of voting rights Book Value
Walsons Services Pvt Ltd Dehli 49.0 49.0 110.0
Total shares in        
associated companies 110.0
Holdings 2006 and 2005        
Company Domicile office Share in equity, % % of voting rights Book Value
Securitas Employee        
Convertible 2002 Holding S.A. Luxembourg 43.1 42.4 163.8
Total shares in        
associated companies 163.8
Note 51. Prepaid expenses and accrued income
MSEK 2007 2006 2005
Prepaid rent 53.0 12.2 0.2
Prepaid financial expenses 22.4 27.8 43.0
Other prepaid expenses 21.6 9.5 6.2
Accrued interest income 274.8 237.9 471.9
Total prepaid expenses      
and accrued income 371.8 287.4 521.3
Note 52. Liquid funds
Liquid funds include Cash and bank deposits and Short-term investments with a maximum duration of 90 days. In the Parent Company’s balance sheet, utilized internal credits in the Swedish cash-pool account are reported under the Group account bank overdraft. Short-term investments refer to fixed interest rate bank deposits.
Note 53. Changes in shareholders’ equity
Number of shares outstanding 31 December 2007 MSEK
Series A 17,142,600 each share with a quota value of SEK 1.00 17.1
Series B 347,916,297 each share with a quota value of SEK 1.00 348.0
Total 365,058,897   365.1
The number of Series A and Series B shares is unchanged in relation to December 31, 2006. As of December 31, 2007 there where no outstanding convertible debenture loans that could result in any dilution ot the share capital.
Each Series A share carried ten votes and each Series B share one vote. This is the only difference between the two series of shares.
Shareholders with more than 10 percent of the votes
The principal shareholders are Investment AB Latour, which together with SäkI AB, Förvaltnings AB Wasatornet and Karpalunds Ångbryggeri AB holds 11.6 percent of the capital and 30.1 percent of the votes, and Melker Schörling AB, which holds 4.7 percent of the capital and 11.1 percent of the votes.
Dividend
The Board of Directors and the President propose a dividend to the shareholders of the Parent Company of SEK 3.10 per share, or a total of MSEK 1,131.7. The dividend to the shareholders for the previous year 2006, which was paid out in 2007, was SEK 3.10 per share, or a total of MSEK 1,131.7. The dividend to the shareholders for 2005, which was paid in 2006, was SEK 3.50 per share, or a total of MSEK 1,277.7.
Note 54. Convertible debenture loans
Information relating to convertible debentures is provided in Note 30 and is identical for the Parent Company and the Group.
Note 55. Long-term liabilities
Long-term liabilities fall due for payment as follows      
MSEK 2007 2006 2005
Maturity < 5 years 3,943.0 4,631.0 6,332.1
Maturity > 5 years 58.8 51.0
Total long-term liabilities 4,001.8 4,631.0 6,383.1
Note 56. Accrued expenses and prepaid income
MSEK 2007 2006 2005
Staff-related items 22.1 14.6 20.5
Accrued interest expenses 354.6 278.5 515.7
Other accrued expenses 72.1 6.5 4.4
Total accrued expenses and prepaid income 448.8 299.6 540.6
Note 57. Pledged assets
MSEK 2007 2006 2005
Pensions balances, defined contribution plans 58.3 54,0
Total pledged assets 58.3 54,0
Note 58. Contingent liabilities
MSEK 2007 2006 2005
Sureties and guarantees1 2,217.5 2,398.6 4,723.1
Other contingent liabilities 93.9 90.0 93.4
Total contingent liabilities 2,311.4 2,488,6 4,816.5
(Of which on behalf of subsidiaries) (2,311.4) (2,488.6) (4,816.5)
1 The Parent Company carries guarantees for loan liabilities at full value even if the underlying
facilities have not been fully utilized by the subsidiaries.      
Note 47. Other intangible assets
 

MSEK 2007 2006 2005
Opening balance 63.0 58.4 51.5
Capital expenditures 23.0 4.6 6.9
Disposals/write-off –10.6
Closing accumulated balance 75.4 63.0 58.4
       
Opening amortization –43.5 –36.9 –27.6
Amortization for the year –2.8 –6.6 –9.3
Closing accumulated amortization –46.3 –43.5 –36.9
       
Opening impairment losses –10.6
Impairment losses for the year –10.6
Write-off 10.6
Closing accumulated impairment losses –10.6
       
Closing residual value 29.1 8.9 21.5
 
Note 48. Machinery and equipment
 

MSEK 2007 2006 2005
Opening balance 11.8 9.6 9.0
Capital expenditures 1.1 2.3 0.6
Disposals/write-off –0.4 –0.1
Closing accumulated balance 12.5 11.8 9.6
       
Opening depreciation –8.2 –7.4 –6.3
Disposals/write-off 0.4 0.1
Depreciation for the year –1.0 –0.9 –1.1
Closing accumulated depreciation –8.8 –8.2 –7.4
       
Closing residual value 3.7 3.6 2.2
 
Note 49. Shares in subsidiaries1
 

Subsidiary name   Corporate registration no. Domicile Number of shares % of share capital % of voting rights Book value Parent Company
Securitas Holdings Inc.   95-4754543 Parsippany 100 100 100 2,208.0
Securitas Seguridad Holding SL B83446831 Madrid 30,100 100 100 6,841.0
Securitas Deutschland Finanz Holding GmbH HRB 33348 Düsseldorf 100% 100 100 2,166.0
SL Sicherheit GmbH   HRB 53995 Düsseldorf 100% 100 100 0.2
Securitas Nordic Holding AB   556248-3627 Stockholm 1,000,000 100 100 5,130.5
Loomis AB   556620-8095 Stockholm 1,000 100 100 4,965.4
Securitas Canada Ltd   036580-6 Montreal 4,004 100 100 85.6
Securitas Services International BV 33287487 Amsterdam 25,000 100 100 3,733.4
Securitas N V   0427.388.334 Brussels 1,000 100 100 272.8
Alert Services Holding NV2   RPR617707 Brussels 3,311,669 53.01 53.01 576.3
Securitas Services Holding UK Ltd 5759961 Feltham 250,000 100 100 109.0
Protectas S.A.   CH-550-0084385-3 Lausanne 25,000 100 100 32.8
Securitas Direct S.A.   272139 Bern 500,000 50 50 2.1
Securitas Sicherheitsdienstleistungen GmbH FN148202w Vienna 100 100 100 58.3
Grupo Securitas Mexico, S A de C V GSM930817U48 Monterrey 5,000 100 100 14.5
Securitas Polska Sp. z o. o.   36743 Warsaw 594,000 100 100 15.7
Securitas Argentina S.A.2   1587929 Buenos Aires 1,412,000 20 20 13.5
Securitas CR s r o   CZ43872026 Prague 100% 100 100 8.8
Securitas KFT   Cg.01-09-721946 Budapest 100% 100 100 0.9
Securitas Eesti AS   10188743 Tallinn 1,371 100 100 32.1
Securitas Transport Aviation Security AB 556691-8917 Stockholm 100,000 100 100 126.8
Securitas Treasury Ireland Ltd   152440 Dublin 21,075,470 100 100 2,344.0
Securitas Group Reinsurance Ltd 317030 Dublin 50,000,000 100 100 576.5
Securitas Toolbox Ltd   316907 Dublin 100 100 100 0.0
Securitas Rental AB   556376-3829 Stockholm 1,000 100 100 3.6
Securitas Invest AB   556630-3995 Stockholm 1,000 100 100 21,719.7
AB Jourmontör   556087-1468 Stockholm 100 100 100 0.0
Securitas Security Services SRL 13740159 Bukarest 22 87.75 87.75 5.6
Securitas Alert Services Polska Sp.z o.o. KRS 0000289244 Warsaw 2,000 100 100 2.4
Other holdings             4.6
Total shares in subsidiaries             51,050.1
 
1 A complete specification of subsidiaries can be obtained from the Parent Company.
2 The remaining 46.99 percent of Alert Services Holding NV and 80 percent of Securitas Argentina S.A., are held by Securitas Seguridad Holding SL.
 

Change analysis of shares in subsidiaries      
MSEK 2007 2006 2005
Opening balance 51,580.5 54,397.2 45,489.2
Acquisitions 8.2 3.6 579.0
Capital contribution 100.3 7,238.0 8,525.7
Divestitures –196.7
Impairment losses –638.9 –1,539.1
Dividend of shares –8,519.2
Closing balance 51,050.1 51,580.5 54,397.2
Dividend 2006 regards Securitas Direct AB and Securitas Systems AB.    

Page 89

 
Note 50. Shares in associated companies
 

Holdings 2007        
Company Domicile office Share in equity, % % of voting rights Book Value
Walsons Services Pvt Ltd Dehli 49.0 49.0 110.0
Total shares in        
associated companies 110.0
 

Holdings 2006 and 2005        
Company Domicile office Share in equity, % % of voting rights Book Value
Securitas Employee        
Convertible 2002 Holding S.A. Luxembourg 43.1 42.4 163.8
Total shares in        
associated companies 163.8
 
Note 51. Prepaid expenses and accrued income
 

MSEK 2007 2006 2005
Prepaid rent 53.0 12.2 0.2
Prepaid financial expenses 22.4 27.8 43.0
Other prepaid expenses 21.6 9.5 6.2
Accrued interest income 274.8 237.9 471.9
Total prepaid expenses      
and accrued income 371.8 287.4 521.3
 
Note 52. Liquid funds
Liquid funds include Cash and bank deposits and Short-term investments with a maximum duration of 90 days. In the Parent Company’s balance sheet, utilized internal credits in the Swedish cash-pool account are reported under the Group account bank overdraft. Short-term investments refer to fixed interest rate bank deposits.
 
Note 53. Changes in shareholders’ equity
 

Number of shares outstanding 31 December 2007 MSEK
Series A 17,142,600 each share with a quota value of SEK 1.00 17.1
Series B 347,916,297 each share with a quota value of SEK 1.00 348.0
Total 365,058,897   365.1
The number of Series A and Series B shares is unchanged in relation to December 31, 2006. As of December 31, 2007 there where no outstanding convertible debenture loans that could result in any dilution ot the share capital.
Each Series A share carried ten votes and each Series B share one vote. This is the only difference between the two series of shares.
 
Shareholders with more than 10 percent of the votes
The principal shareholders are Investment AB Latour, which together with SäkI AB, Förvaltnings AB Wasatornet and Karpalunds Ångbryggeri AB holds 11.6 percent of the capital and 30.1 percent of the votes, and Melker Schörling AB, which holds 4.7 percent of the capital and 11.1 percent of the votes.
 
Dividend
The Board of Directors and the President propose a dividend to the shareholders of the Parent Company of SEK 3.10 per share, or a total of MSEK 1,131.7. The dividend to the shareholders for the previous year 2006, which was paid out in 2007, was SEK 3.10 per share, or a total of MSEK 1,131.7. The dividend to the shareholders for 2005, which was paid in 2006, was SEK 3.50 per share, or a total of MSEK 1,277.7.
 
Note 54. Convertible debenture loans
Information relating to convertible debentures is provided in Note 30 and is identical for the Parent Company and the Group.
 
Note 55. Long-term liabilities
 

Long-term liabilities fall due for payment as follows      
MSEK 2007 2006 2005
Maturity < 5 years 3,943.0 4,631.0 6,332.1
Maturity > 5 years 58.8 51.0
Total long-term liabilities 4,001.8 4,631.0 6,383.1
 
Note 56. Accrued expenses and prepaid income
 

MSEK 2007 2006 2005
Staff-related items 22.1 14.6 20.5
Accrued interest expenses 354.6 278.5 515.7
Other accrued expenses 72.1 6.5 4.4
Total accrued expenses and prepaid income 448.8 299.6 540.6
 
Note 57. Pledged assets
 

MSEK 2007 2006 2005
Pensions balances, defined contribution plans 58.3 54,0
Total pledged assets 58.3 54,0
 
Note 58. Contingent liabilities
 

MSEK 2007 2006 2005
Sureties and guarantees1 2,217.5 2,398.6 4,723.1
Other contingent liabilities 93.9 90.0 93.4
Total contingent liabilities 2,311.4 2,488,6 4,816.5
(Of which on behalf of subsidiaries) (2,311.4) (2,488.6) (4,816.5)
1 The Parent Company carries guarantees for loan liabilities at full value even if the underlying
facilities have not been fully utilized by the subsidiaries.