F INANCIAL K E y RA TIOS M SEK 2012 2011 T ot al sales 23 492 22 356 Organic sale s gro w th 1 4 Oper atin g income before amortization 1 157 1 270 Operating margin 49 57 Real change 12 2 Cash fo w from oper atin g activities 1 106 855 C ash fo w from operating activitie s 96 67 Oper atin g capit al emplo y ed 1 209 1 328 Operating capit al emplo y ed as o f sale s 5 6 T ot al capit al emplo y ed 7 315 7 812 Re t urn on capit al emplo y ed 15 16 S ecurit y S er vice s North America SALE S M SEK 20 000 15 000 10 000 5 000 0 OPERA TING INC O ME M SEK 1 200 900 600 300 0 09 10 11 08 12 09 10 11 08 12 In North America especially the U SA and Canada the securit y mark et is mature but includes a hig h de gree of manned guar din g This has essentially been driv en b y relativ ely lo w w a g es for securit y of ficer s and lack of demand to find other solutions As the mark et leader Securit as has e xtensiv e e xpertise and profound kno wled g e not only of the securit y indus tr y but also of our cus tomer s indus tries and businesses W e use this to driv e de v elop ment to w ar d inte gr ated securit y solutions where manned guar din g is a k e y component that is complemented with mobile securit y ser vices and adv anced monitorin g solutions Securit as is proactiv e in supportin g our cus tomer s adapt to new situations for e xample b y creatin g alternativ e securit y solutions within the same bud g et At the same time w e protect our mar g ins F ollo win g a thoroug h oper ational analysis of a cus tomer s needs in partner ship with the cus tomer w e build a unique securit y progr am with Securit as as the sin g le point of cont act An individualiz ed cus tomer port al that gather s all necessar y informa tion for both the cus tomer and our emplo y ees adds further v alue The three main buildin g blocks in the securit y solution are manned guar din g mobile securit y ser vices and adv anced monitorin g In the U SA mobile securit y ser vices are mos t commonly ofered b y small local pla y er s and sold as a sin g le product Securit as is the only compan y with a national footprint that ofer s mobile securit y ser vices as part of an o v er all securit y solution Addin g mobile securit y ser vices to the securit y solution enables more fe xibilit y r ather than ha vin g a securit y ofcer on site a mobile patrol can be dispatched from our monitorin g center when needed Securit as uses topof theline technology where monitorin g is more lik e virtual guar d tour s than mere alarm monitorin g F or cos t efcienc y the cus tomer s e xis tin g sur v eillance camer as can be used and equipped with adv anced soft w are that is t ailored to the cus tomer s needs One e xample is realtime audio inter v ention where the specially tr ained securit y ofcer in the monitorin g center can speak directly to an y one monitored liv e Sales Oper atin g income T ot al capit al emplo y ed Number of emplo y ees 19 Securit as Annual R eport 2012 Oper ations Securit y Ser vices North America