Securitas Direct AB: Interim report 1 January-30 June 2007

CUSTOMER CANCELLATIONS STABILISED IN THE SECOND QUARTER

  * Net addition of 35,029* new customers during second quarter
  * Customer cancellations totalled 13,947* in second quarter
  * Payback period for investments in new customers of 4.0 years in
    second quarter

 *) Net growth and the cancellation rate have been adjusted for 6,419
cancellations due to closer monitoring of the customer portfolio in
Spain. The cancellations have no effect upon income

SALES AND INCOME
 note that comparative figures are pro forma

                      Apr-June 07 Apr-June 06 Jan-June 07 Jan-June 06
Net sales, SEK            949,304     828,898   1,861,211   1,608,657
thousand
Sales growth adjusted
for
currency effects, %            15          24          17          24
Operating profit, SEK      69,860      51,241     140,479     107,960
thousand
Operating margin, %           7.4         6.2         7.5         6.7
Net profit for the         45,449      32,989      90,443      70,155
period, SEK thousand
Earnings per share,          0.12        0.09        0.25        0.19
SEK



OPERATING TARGETS

  * Net customer portfolio growth was 17.4*% (24.3**)
  * Cancellation rate of 6.7*% (5.4)
  * Payback period for investments in new customers totalled 4.1
    years (3.7)

*) Net growth and the cancellation rate have been adjusted for 6,419
cancellations due to closer monitoring of the customer portfolio in
Spain. The cancellations have no effect upon income
**) Adjusted for sale of 4,174 alarms to Securitas AB.
Net growth and the cancellation rate are based on12-month rolling
figures, while the payback period is for the year to date.

PRESIDENT'S COMMENTS

Our increased focus on customer service and terminations has
delivered noticeable results. Customer cancellations - our most
important measure of long-term value creation - are moving in the
right direction and were 1,400 fewer in the second quarter compared
to the first. I believe that our focus on increased proactivity and
improved customer service will enable us to remain at the current
level in the coming quarters.
The addition of 48,976 new customers to the portfolio in the second
quarter was in line with the increase in sales which we normally see
at this time of year. In the long term, net customer portfolio growth
depends on our ability to grow while maintaining high standards of
quality and that new customers appreciate our services and stay with
us for many years. We are increasing our focus on existing customers
and also improving the customer mix. This is essential because
profitable growth is simply not possible in some segments. During the
quarter we reduced sales to newly built apartments and vacation homes
when these are via indirect sales.
The market is a little slow, which was reflected during the second
quarter in a SEK 200 increase in the per-customer acquisition cost.
Nevertheless, the payback period decreased during the period due to
an increase in the net contribution per customer
to SEK 124 per month, which was a result of improved efficiency and
economies of scale. The payback period (QTD) of 4.0 years was the
lowest since the listing last year.
The customer portfolio stands at 888,649 customers and the average
life of each contract is 10-11 years. We are currently adding about
30,000 new customers per quarter on a net basis (though the gain was
35,000 in the second quarter), suggesting net portfolio growth for
the full year of just over 14%. I expect net growth for the full year
of 15-17%.

GROUP KEY DATA

OPERATING                           30 June    30 June
                                       2007       2006
Net customer portfolio growth, %      17.4*     24.3**
Customer portfolio                  888,649    762,574
Cancellation rate, %                   6.71        5.4
Payback period, years                   4.1        3.7


*) Net growth and the cancellation rate have been adjusted for 6,419
cancellations that do not affect income.
Including these, net growth and customer cancellations were 16.5% and
7.5% respectively.
**) Adjusted for sale of 4,174 monitored alarms to Securitas Group.
Net growth and the cancellation rate are based on 12-month rolling
figures, while the payback period is for the year to date.

FINANCIAL
                                April-June         January-June
SEK thousand                     2007    2006          2007      2006
Net sales                     949,304 828,898     1,861,211 1,608,657
Sales growth adjusted for          15      24            17        24
currency effects, %
Operating profit               69,860  51,241       140,479   107,960
Operating margin, %               7.4     6.2           7.5       6.7
EBITDA                        186,714 148,558       369,810   297,651
EBITDA margin, %                 19.7    17.9          19.9      18.5
Net profit for the year        45,449  32,989        90,443    70,155
Earnings per share, SEK          0.12    0.09          0.25      0.19
Capital employed                    -       -     1,633,296 1,364,783
Net debt                            -       -        43,095   835,015
Return on capital employed, %       -       -            16        15
Free cash flow                 54,998 -51,015        89,589  -159,365


Note that comparative figures are pro forma. Details of the
adjustments in the pro forma accounts are shown on page 36 of the
Prospectus for Distribution and Listing of Shares 2006, published in
September last year. The prospectus can be downloaded from
www.securitas-direct.com.  The balance sheet and cash flow data
relate to actual outcomes.

TARGETS AND OUTLOOK

Securitas Direct has three long-term operating targets:

  * Net customer portfolio growth exceeding 20% per year
  * Cancellation rate of less than 6% per year
  * Payback period for investments in new customers of less than 4
    years

Management continues to expect net customer portfolio growth for the
full year of 15-17% and that the payback period at year-end will be
in line with the long-term target of 4 years.
We also expect total customer cancellations in the third and fourth
quarters to be in line with the second quarter figure.
For the full year, we expect the operating margin to be 7.5% and free
cash flow to be positive.

BRIEFING AND CONFERENCE CALL

A briefing on the second quarter results will be held on 22 August
2007 at 09.30 CET at the Radisson SAS Strand Hotel, Nybrokajen 9,
Stockholm, Sweden.
If you wish to follow a webcast of the briefing, please visit the
Investors and Media section at www.securitas-direct.com.
If you wish to follow the briefing by phone and participate in the
Q&A session, please call +44 (0)20 7162 0025, allowing yourself 10
minutes for registration.

Conference call at 17.30 CET on 22 August 2007
Securitas Direct's CEO and CFO will give a short presentation of the
report and take questions. If you wish to participate, please call
+44 (0) 20 7162 0025, allowing yourself 10 minutes for registration.
A full agenda was published in a press release on 13 August 2007.

Recordings
Recordings of the briefing and teleconference will be posted on the
Securitas Direct website.

FOR FURTHER INFORMATION CONTACT
Dick Seger, President and CEO, tel +46 (0)708 218817
Lars Andersson, CFO, tel +46 (0)706 327580
Michael Peterson, Investor and Media Relations Manager, tel +46
(0)733 221814
e-mail: ir@securitas-direct.com, www.securitas-direct.com