Tempest Security
Tempest Security AB is a Swedish security services group based in Stockholm with operations in Sweden, Denmark, and the United Kingdom. The company provides tailored security solutions that combine guarding, monitoring, technical security services, investigations, and risk-related support through its operating subsidiaries.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueGuarding, monitoring, alarm response, and technical security services delivered mainly in Sweden.
International risk-related services including investigations, background checks, and specialist security support.
Customers
Tempest Security serves organizations that need outsourced protection, monitoring, and specialist security support rather than in-house security teams. Its customers include businesses and institutions that value flexible service, national coverage, and long-term security partnerships. The company also supports clients with higher-risk or more complex operating environments through its risk-oriented services.
Buy stationed guards, mobile patrols, and alarm response to protect premises and people.
Buy SOC monitoring, CCTV, alarm, and access-control services to improve oversight.
Buy background checks, investigations, and specialist risk support for sensitive needs.
Buy standardized security support across Sweden, Denmark, and the UK.
Strategy
Tempest Security is focused on a more concentrated Nordic security platform, with Sweden and Denmark described as its core markets. The company emphasizes tailored, higher-quality security delivery, stronger operational control, and better utilization of its service network to support long-term growth. Its strategy also includes improving service efficiency and using its monitoring and partner-based model to broaden coverage without relying only on direct installation capacity.
A narrower geographic focus improves control, service quality, and execution consistency.
Better staffing and contract management improve the economics of labor-intensive security services.
Monitoring and technical security services can deepen customer relationships and support recurring service demand.
Geography
Tempest Security is headquartered in Stockholm and operates primarily in Sweden, where Security Solutions is centered. It also has established operations in Denmark and the United Kingdom, which support its Risk Solutions and broader international service capability. Geography matters because the business depends on local labor availability, regulatory conditions, and the ability to provide consistent service coverage across markets.
Risks
Tempest Security faces operational risks typical of labor-intensive security services, including staffing quality, contract pricing pressure, and customer retention. The business is also exposed to seasonality, macroeconomic uncertainty, and credit risk because it provides services on payment terms and depends on ongoing customer demand. Cross-border operations add exposure to regulatory differences, labor conditions, and geopolitical uncertainty that can affect security demand and operating costs.
- Operational delivery and personnel riskImpact: HighLikelihood: Medium
Security services depend on correct recruitment, training, and supervision; failures can create service or liability issues.
Exposure - Customer concentration and contract renewal riskImpact: HighLikelihood: Medium
Large contracts can represent meaningful revenue, and loss of a major client can quickly affect utilization.
Exposure: Large enterprise and institutional accounts
- Pricing pressure versus wage inflationImpact: HighLikelihood: Medium
If contract prices cannot be adjusted to offset wage or other cost increases, margins and project economics weaken.
Exposure: Guarding and staffing-heavy contracts
- Macroeconomic and geopolitical uncertaintyImpact: MediumLikelihood: Medium
Inflation, interest rates, trade disruption, and geopolitical tensions can affect demand, costs, and client budgets.
Exposure: Nordic and international operations
- Seasonal revenue and cash flow variationImpact: MediumLikelihood: Low
The company states that Q1 and Q4 are normally the weakest quarters, affecting comparability and liquidity planning.
Exposure: Quarterly results and working capital
Accounting
Judgemental itemsManagement states that Q1 and Q4 are usually weaker, so interim results need seasonal adjustment in analysis.
Impact: Revenue, EBITDA, and cash flow timing
The company extends credit to customers and must estimate collectability on trade receivables.
Impact: Bad debt expense and working capital
Security operations use offices, vehicles, and equipment that may be leased, affecting EBITDA and debt-like liabilities.
Impact: Operating expenses, right-of-use assets, and lease liabilities
The group includes multiple acquired subsidiaries, so goodwill and acquired intangibles may require impairment testing.
Impact: Non-cash impairment charges and equity
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Last updated: 24/09/2026