Assa Abloy: targets maintained, but share falls

(CercleFinance.com) - Assa Abloy fell back on the stockmarket on Tuesday, after confirming its outlook at a CMD that did not offer many new elements.


At the meeting, held in Prague, the Swedish group's CEO, Nico Delvaux, detailed his strategy for continuing to improve the profitability of the world's number one locksmith.

He took the opportunity to confirm the company's targets of an EBIT margin of 16% to 17% on sales growth of 10% during the current economic cycle, without providing any further details.

The CMD will continue tomorrow with a visit to a cylinder manufacturing site based in Rychnov (Czech Republic).

At around 11:30 am, shares in the door-opening solutions specialist were down 1.5%, the second biggest faller on the OMXS30 index of major Swedish stocks.


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