Assa Abloy AB Series B

ASSA ABLOY provides a range of door opening solutions. Co. is organized into five divisions. Europe, Middle East and Africa division, Americas (North and South America) division and Asia Pacific (Asia, Australia and New Zealand) division manufacture and sell mechanical and electromechanical locks, security doors and hardware in their respective geographical markets. Global Technologies division operates worldwide in the product areas of access control systems, secure card issuance, identification technology and hotel locks. Entrance Systems division is a global supplier of entrance automation products and service.
  • TickerASSA B
  • ISINSE0007100581
  • ExchangeNasdaq Nordic Stockholm
  • SectorConstruction & Materials
  • CountrySweden

With a more favourable environment, ASSA ABLOY AB improves to Slightly Positive

ASSA ABLOY AB (SE), a company active in the Building Materials & Fixtures industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 4 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date July 21, 2020, the closing price was SEK 211.20 and its potential was estimated at SEK 228.56.

Bruno Cavalier ...
  • Jerôme Bodin
  • Sylvain Goyon, CFA

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/20/2020

Discussing a return of inflation may seem irrelevant at a time when there is so much downward pressure on prices (unemployment, raw materials). Inflation swaps are nonetheless picking up. Perhaps this is due to the effects of several long-term trends (ageing of the population, de-globalisation, etc.) combined with base effects on raw materials. While this return is likely to be gradual, it will imply an adjustment of portfolios. Value (banks) and commodities (mining) should benefit, e...

Bruno Cavalier ...
  • Jerôme Bodin
  • Sylvain Goyon, CFA

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 20/07/2020

Parler d’un retour de l’inflation peut sembler hors sujet tant les pressions baissières sur les prix sont nombreuses (chômage, matières premières). Pourtant les swaps d’inflation se redressent. Il faut peut-être y voir les effets de plusieurs tendances de long terme (vieillissement de la population, dé-globalisation,..) conjuguées à des effets de base sur les matières premières. Si ce retour sera probablement graduel, il va impliquer une adaptation des portefeuilles. La value (banques...

Alfred Glaser ...
  • Delphine Brault

Assa Abloy : Q2 figures much better and Q3 set for a gradual improvement

>Q2 better than expected - Assa Abloy on Friday morning reported its Q2 2020 results, with EBIT beating consensus expectations by over 20%. Revenues declined by 17.8% (vs 23% expected) and EBIT came in at SEK 2.1bn, a decline of 44%, i.e. a margin of 10.5% (vs 9.1% for the consensus).Operating cash flow dropped by just 6% to SEK 3.4bn.See page 2 for further details.June posted a double-digit decline, but the start of July was better - The co...

Anders Idborg ...
  • Bengt Jonassen
  • Derek Laliberté
  • Erik Moberg
  • Fredrik Ivarsson
  • Jan Erik Gjerland
  • Karl Bokvist
  • Mads Thinggaard
  • Magnus Andersson
  • Martin Melbye
  • Olof Cederholm
  • Oskar Vikström
  • Øystein Elton Lodgaard
  • Peter Kurt Nielsen
  • Rickard Anderkrans
  • Tobias Kaj
  • Victor Forssell

Talking Points - Kesko (Hold): New guidance looking cautious

Autoliv (Buy) Post-result: Trends supportive for Q3 improvement …could be a touch on the cautious side Stock up 10% YTD, fairly valued

Assa Abloy AB: 1 director sold after exercising options/sold

A director at Assa Abloy AB sold after exercising options/sold 5,973 shares at 177.970SEK and the significance rating of the trade was 59/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listin...

Alfred Glaser ...
  • Delphine Brault

Assa Abloy : Q2 figures much better and Q3 set for a gradual improvement

>Q2 better than expected - Assa Abloy on Friday morning reported its Q2 2020 results, with EBIT beating consensus expectations by over 20%. Revenues declined by 17.8% (vs 23% expected) and EBIT came in at SEK 2.1bn, a decline of 44%, i.e. a margin of 10.5% (vs 9.1% for the consensus).Operating cash flow dropped by just 6% to SEK 3.4bn.See page 2 for further details.June posted a double-digit decline, but the start of July was better - The co...

Anders Idborg ...
  • Bengt Jonassen
  • Derek Laliberté
  • Erik Moberg
  • Fredrik Ivarsson
  • Jan Erik Gjerland
  • Karl Bokvist
  • Mads Thinggaard
  • Magnus Andersson
  • Martin Melbye
  • Olof Cederholm
  • Oskar Vikström
  • Øystein Elton Lodgaard
  • Peter Kurt Nielsen
  • Rickard Anderkrans
  • Tobias Kaj
  • Victor Forssell

Talking Points - Kesko (Hold): New guidance looking cautious

Autoliv (Buy) Post-result: Trends supportive for Q3 improvement …could be a touch on the cautious side Stock up 10% YTD, fairly valued

Alfred Glaser ...
  • Delphine Brault

Assa Abloy : Des chiffres T2 bien meilleurs et une amélioration graduelle à prévoir au T3

>Un T2 meilleur qu’attendu - Le groupe a publié vendredi matin ses résultats T2, avec un EBIT plus de 20% supérieur aux attentes du consensus. Le chiffre d’affaires a reculé de 17.8% (vs 23%e) et l’EBIT s’est établi à 2.1 MdSEK, en recul de 44%, soit une marge de 10.5% (vs 9.1% pour le consensus).Le cash-flow opérationnel n’a reculé que de 6% pour atteindre 3.4 MdSEK.Plus de détails en page 2.Le mois de juin était en recul à 2 chiffres, mais déb...

Anders Idborg ...
  • Olof Cederholm

Assa Abloy - Not out, but still down

Reported EBIT 8% above our estimate, good cash Gradual normalisation, estimates intact Valuation no longer an issue, but drivers currently on hold

Alfred Glaser ...
  • Delphine Brault

Assa Abloy : Q2 EBIT showed better resilience, beating consensus by 21%

>Q2 organic growth -18%, adjusted EBIT margin 10.5% - Sales reached SEK 20bn, down 18% organically which is below our expectations (-13%) but above the consensus (-23%). Acquisitions impacted sales by +3%. The Asia-Pacific division surprised positively with revenues down 17% on a like-for-like basis and an EBIT margin drop of just 210bp to 7.1%. EMEA and Global Tech generated the weakest growths (-25% organic) and conversely Entrance Systems showed strong re...

ASSA ABLOY AB - December 2017 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

ASSA ABLOY AB - September 2017 (LTM): Peer Snapshot

Peer Snapshot:  ASSA ABLOY AB - September 2017 (LTM) 27 November 2017 (in US millions) FYE Dec-15 FYE Dec-16 LTM Sep-17 FYE Dec-15 FYE Dec-16 LTM Sep-17 FYE Jul-15 FYE Jul-16 LTM Jul-17

ASSA ABLOY AB: Update to discussion of key credit factors

CORPORATES CREDIT OPINION 9 October 2017 Update Contacts Oliver Giani 49-69-70730-722 VP-Senior Analyst [email protected] Daniel Harlid 46-850-256-546 AVP-Analyst [email protected] Matthias Hellstern 49-69-70730-745 MD-Corporate Finance [email protected] CLIENT SERVICES Americas 1-212-553-1653 Asia Pacific 852-3551-3077 Japan 81-3-5408-4100

ASSA ABLOY AB - June 2017 (LTM): Peer Snapshot

Peer Snapshot:  ASSA ABLOY AB - June 2017 (LTM) 24 August 2017 (in US millions) FYE Dec-15 FYE Dec-16 LTM Jun-17 FYE Dec-15 FYE Dec-16 LTM Jun-17 FYE Jul-15 FYE Jul-16 LTM Jan-17

ASSA ABLOY AB - March 2017 (LTM): Peer Snapshot

Peer Snapshot:  ASSA ABLOY AB - March 2017 (LTM) 26 May 2017 (in US millions) FYE Dec-15 FYE Dec-16 LTM Mar-17 FYE Dec-15 FYE Dec-16 LTM Mar-17 FYE Jul-15 FYE Jul-16 LTM Jan-17

Bruno Cavalier ...
  • Jerôme Bodin
  • Sylvain Goyon, CFA

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/20/2020

Discussing a return of inflation may seem irrelevant at a time when there is so much downward pressure on prices (unemployment, raw materials). Inflation swaps are nonetheless picking up. Perhaps this is due to the effects of several long-term trends (ageing of the population, de-globalisation, etc.) combined with base effects on raw materials. While this return is likely to be gradual, it will imply an adjustment of portfolios. Value (banks) and commodities (mining) should benefit, e...

Bruno Cavalier ...
  • Jerôme Bodin
  • Sylvain Goyon, CFA

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 20/07/2020

Parler d’un retour de l’inflation peut sembler hors sujet tant les pressions baissières sur les prix sont nombreuses (chômage, matières premières). Pourtant les swaps d’inflation se redressent. Il faut peut-être y voir les effets de plusieurs tendances de long terme (vieillissement de la population, dé-globalisation,..) conjuguées à des effets de base sur les matières premières. Si ce retour sera probablement graduel, il va impliquer une adaptation des portefeuilles. La value (banques...

Ahmed Ben Salem

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/17/2020

We are forecasting an historically low H1 2020, penalised by the lockdown effects. On the basis of our H1 estimates and the full-year consensus, several stocks are likely to disappoint (Imerys and Vicat). Conversely, the full-year consensus seems to incorporate a margin for error and, possibly, potential for upward revision for LafargeHolcim, Getlink and Eiffage. Saint-Gobain and Eiffage remain our favourite stocks, particularly as the market and investors are already looking to 2021....

Ahmed Ben Salem

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 17/07/2020

Nous tablons sur un S1 2020 historiquement bas, pénalisé par les effets du confinement. Sur la base de nos estimations S1 et du consensus annuel, plusieurs valeurs nous semblent susceptibles de décevoir (Imerys et Vicat). A l’inverse, le consensus annuel nous semble intégrer une marge d’erreur, voire un potentiel de révision à la hausse pour LafargeHolcim, Getlink et Eiffage. Saint-Gobain et Eiffage restent nos valeurs préférées d’autant que le marché et les investisseurs ont déjà tou...

Alexandre Iatrides ...
  • Alfred Glaser
  • Anis Zgaya
  • Benoit Valleaux
  • Delphine Brault
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • Florent Laroche-Joubert
  • Geoffroy Michalet
  • Jean Sassus
  • Louis Boujard, CFA
  • Martial Descoutures
  • Matthias Desmarais
  • Philippe Ourpatian
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/14/2020

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With a more favourable environment, ASSA ABLOY AB improves to Slightly Positive

ASSA ABLOY AB (SE), a company active in the Building Materials & Fixtures industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 4 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date July 21, 2020, the closing price was SEK 211.20 and its potential was estimated at SEK 228.56.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

Assa Abloy – AGM 29 April 2020

Please note that the location is different than previously announced. In general, Assa Abloy is in compliance with the Swedish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 11b, the nomination committee seeks approval of the auditors' fees. In view of the substantial amount of non-audit fees paid to the former audit firm, ECGS recommends to vote OPPOSE.  Under ITEM 12a, approval is sought for the (re-)election of the board of directors. In light of insufficient independent representation on the board of directors, ECGS recommends to vote O...

Expert Corporate Governance Service (ECGS)

Assa Abloy - 25 April 2019 AGM

In general, Assa Abloy is in compliance with the Swedish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 11b, the nomination committee seeks approval of the auditors' fees. In view of the substantial amount of non-audit fees, ECGS recommends to vote OPPOSE. Under ITEM 12a, approval is sought for the (re-)election of the board of directors. In light of insufficient independent representation on the board of directors, ECGS recommends to vote OPPOSE. Under ITEM 12b, the nomination committee proposes to re-appoint PricewaterhouseCoopers as the ...

Assa Alboy – Proxinvest Corporate Governance Rating ® : D

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

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