Assa Abloy: operating income up 8%.

(CercleFinance.com) - Assa Abloy has just published its Q3 results, with the group announcing record operating profit.


Net sales rose by 1% to 37,418m SEK, with organic growth of 0% and net acquired growth of 4%. Exchange rates knocked 3% off sales.

Organic sales growth was good in the Americas and Global Technologies, stable in EMEIA, while organic sales declined in Entry Systems and Asia-Pacific.

Seven acquisitions with combined annual sales of around 4bn SEK were finalised during the quarter.

EBIT rose 8% to 6255m SEK, with an operating margin of 16.7%. Net income amounted to 4,033m SEK. EPS was 3.63 SEK, and cash flow from operating activities totaled 6,341m SEK.

While there is clear scope for further improvement in the underlying performance of all divisions, we will pursue our acquisition strategy and continue to invest in innovation. Consequently, our target operating margin of 16% to 17% remains unchanged, management said.


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