Assa Abloy's Organic Growth Solid; Raw Material Prices and Currency Will Hurt Short-Term
Assa Abloy's third quarter showed solid organic revenue growth across all divisions and continued progress on software-driven products; however, raw material prices and currency had a negative effect on the quarter and will continue to do so, at least until the end of the year. Reported revenue growth was 3% with a breakdown of 3% organic, 2% acquired, and negative 2% currency. The group EBIT margin was down 10 basis points year over year to 16.7%. We are maintaining our wide moat and positive t...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.
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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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