Update on Securitas Group tax rate following the US corporate tax reform
The new US corporate tax legislation, passed by the US Government on December 22 and effective as from January 1, 2018, will impact Securitas.
Based on the information currently available, the new US tax legislation will reduce Securitas Group tax rate as of 2018 and going forward. Assessing the current tax base and tax matters, our best judgment is that our current full year Group tax rate of 28.5 percent in 2017 is estimated to reduce to approximately 25.5 percent as of the financial year 2018.
Furthermore, the value of Securitas’ existing deferred US tax assets, for example pension accruals, vacation pay and other employee-related expenses, will reduce with the new corporate tax legislation. The revaluation of the deferred tax assets will have a one-off negative effect in the income statement, which will be recognized in the fourth quarter 2017. Based on the third quarter 2017 balance this amount is estimated to be approximately MSEK 200. Such amount will not affect the cash flow.
This press release is also available at: www.securitas.com
Information: Gisela Lindstrand, Senior Vice President Corporate Communications and Public Affairs, Securitas AB, mobile +46 70 287 8662, or email firstname.lastname@example.org
Micaela Sjökvist, Head of Investor Relations, Securitas AB, mobile +46 76 116 7443, or email email@example.com
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