Assa Abloy Post Solid Organic 1Q Results as Currency Hits Reported Figures; Shares Fairly Valued
Assa Abloy posted solid first-quarter results on an organic basis, growing in line with 2017 and expanding margins slightly. On a reported basis, however, results were negatively affected by foreign currency. Organic revenue grew 4%, continuing the trend of 2017, but grew just 2% on a reported basis due to foreign exchange. The EBIT margin showed a minor improvement, gaining 10 basis points to 15.3%, but this is a decent result given the rise in raw material prices. We are maintaining our wide m...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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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