Q3 2019 Securitas AB Earnings Call Transcript
Good morning, everyone, and welcome to our Q3 call. I'm glad to be here today, as always, with our CFO, Bart Adam, to go through the performance in the quarter and then also a Q&A.
So let us start by looking at the performance on a group level. We had decent growth in the third quarter, and we continue to grow faster than the market. At the operating income level, we have 5% real change during the first 9 months of the year. And the operating margin of 5.6% in the quarter is stable compared with last year, with continued strong performance in North America while the margin in Europe is slightly below last year.
As communicated with the Q2 results, we have a negative price/wage balance in 2 countries in Europe that are affecting the price/wage balance for the group. We are much more satisfied with the cash flow in the quarter and the first 9 months of the year, and the operating cash flow year-to-date of SEK 3 billion represents a significant improvement versus the same period last year.
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