02.06.19
ASSA ABLOY announced its first quarter results for 2019. Net sales increased by 15% to SEK 23,167 million ($2.55 billion), with organic growth of 6% and acquired net growth of 3%. For full year 2018, the company reported sales of SEK 84,048 million ($9.25 billion), up 10% from 2017. The company noted strong sales growth in Americas and Asia Pacific, as well as strong growth for Global Technologies, good growth in EMEA and growth in Entrance Systems.
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.
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.
