Bli medlem
Bli medlem

Du är här

2016-10-21

ASSA ABLOY: Stable progress for ASSA ABLOY during the quarter

Third quarter

· Sales totaled SEK 18,025 M (17,465), with 2% (3) organic growth
and 2% (4) acquired growth

· Strong growth for Global Technologies and Americas
· Good growth for Entrance Systems and growth for EMEA
· Negative growth for Asia Pacific due to weak demand in China
· Trojan in the UK was acquired, with expected annual sales of SEK
220 M

· Operating income (EBIT) was SEK 3,020 M (2,970). The operating
margin was 16.8% (17.0)

· Net income amounted to SEK 2,122 M (2,069)
· Earnings per share amounted to SEK 1.91 (1.86)
· Operating cash flow increased by 1% to SEK 2,830 M (2,816)
Sales and income

Third quarter January-September

2015 2016 ? 2015 2016 ?
Sales, SEK M 17,465 18,025 3% 49,799 51,809 4%
Of which:
Organic growth 471 307 2% 1,807 1,308 3%
Acquisitions and divestments 606 429 2% 1,435 1,512 3%
Exchange-rate effects 1,661 -176 -1% 5,561 -810 -2%
Operating income (EBIT), SEK M 2,970 3,020 2% 8,041 8,340 4%
Operating margin (EBIT), % 17.0% 16.8% 16.1% 16.1%
Income before tax, SEK M 2,796 2,844 2% 7,531 7,782 3%
Net income, SEK M 2,069 2,122 3% 5,573 5,786 4%
Operating cash flow, SEK M 2,816 2,830 1% 5,327 5,846 10%
Earnings per share (EPS), SEK 1.86 1.91 3% 5.02 5.21 4%

Comments by the President and CEO
"The third quarter of the year showed satisfactory growth for ASSA
ABLOY generally, with the exception of Asia Pacific," says Johan
Molin, President and CEO. "In general the mature markets made good
progress while the growth markets continued to show subdued demand,
apart from Latin America and India.

"In Global Technologies and Americas there was strong growth during
the quarter, driven by successful marketing efforts and the launch of
innovative

new products. Entrance Systems showed good growth. EMEA showed growth
despite some impact from a negative calendar effect. Growth in Asia
Pacific remained negative because of the weak demand in China.

"The organic growth was rather weaker this quarter and amounted to 2%.
Operating income remained strong and the operating margin was 16.8%
(17.0).

"A number of major exhibitions have taken place during the quarter,
with gratifying results. The Group's innovations have once again been
honored by

the award of several prestigious prizes. The launches of The Security
Continuum (a platform-independent series of commercial electronic
locks) and Accentra

(a cloud-based electronic system for multi-family buildings) were
especially acclaimed. Another interesting new series of products that
was launched was HID Global's virtual authentication and
identification solutions, by which, for example, future driver's
licenses can be securely stored on an ordinary smartphone.

"The English company Trojan was acquired during the quarter. The
company is a typical example of a complementary acquisition providing
high synergies, by which the company's specialized door and window
products allow us to offer the British market complete lock and
fittings solutions with good profitability.

"Operating income for the quarter amounted to SEK 3,020 M, with an
operating margin of 16.8%, mainly due to positive organic growth,
lower raw-material costs and other significant savings. Operating
cash flow remained strong.

"My judgment is that the global economic trend remains weak, but with
a positive trend in America and parts of Europe. Elsewhere, many of
the emerging markets are stagnating. However, our strategy of
expanding on the emerging markets remains unchanged, since in the
long term they are expected to achieve very good economic growth. We
are also continuing our investments in new products, especially in
the growth area of electromechanics."

Further information can be obtained from:
Johan Molin,
President and CEO, Tel: +46 8 506 485 42

Carolina Dybeck Happe,
Chief Financial Officer, Tel: +46 8 506 485 72

ASSA ABLOY is holding an analysts' meeting at 10.00 today at
Operaterrassen in Stockholm, Sweden.

The analysts' meeting can also be followed on the Internet at
www.assaabloy.com. It is possible to submit questions by telephone
on: +46 8 5055 6476, +44 203 364 5371 or +1 877 679 2993.

This information is information that ASSA ABLOY AB is obliged to make
public pursuant to the EU Market Abuse Regulation. The information
was submitted for publication, through the agency of the contact
persons set out above, at 08.00 CET on 21 October 2016.

-----------------------------------------------------------
http://news.cision.com/assa-abloy/r/stable-progress-for-assa-abloy-durin...
http://mb.cision.com/Main/7333/2105640/578090.pdf

Författare WKR

Tala om vad ni tycker

Tala om vad ni tycker

Ni är just nu inne på en betaversion av nya aktiespararna. Lämna gärna feedback på vad ni tycker i formuläret nedan.