Five acquisitions have been signed with combined expected annual sales of about SEK 800 million ($88 million). A new manufacturing footprint program was launched at year-end. The total estimated cost amounts to around SEK 1,500 million ($165 million) with a pay-back time of less than three years.
Operating income (EBIT) amounted to SEK 3,746 million ($412 million), with an operating margin of 16.2%, down slightly from last year’s 16.7%. Operating cash flow amounted to SEK 4,923 million ($540 million), up 1%; for the full year, operating cash flow was SEK 11,357 million ($1.25 billion).
“In the fourth quarter our organic growth accelerated to 6%, resulting in a strong organic sales growth of 5% for the full year,” Nico Delvaux, president and CEO of ASSA ABLOY, reported. “Acquired net growth was 3% during the quarter (2% for the full year). All divisions reported organic growth. The organic growth was very strong in Americas (14%) and Asia Pacific (11%), strong in Global Technologies (8%), while EMEA and Entrance Systems grew by 3% and 2% respectively.
Operating income for the quarter increased by 12% year-on-year to SEK 3,746 million ($412 million), corresponding to an operating margin of 16.2%. Even with actions to balance the seasonal variations, cash flow came in strong at SEK 4,923 M, up 1% year-on-year,” Delvaux added.