Assa Abloy Stands to Benefit From the Ongoing Shift to Electrical and Automated Locks
Demand for wide moat lock and door supplier Assa Abloy's products continued to be strong in the first quarter of 2019, but margins are still under moderate pressure, mirroring the 2018 results. Group organic revenue grew by 5% while reported revenue was up 16% with a mix of acquisitions and currency flattering growth. The EBIT margin contracted by 20 basis points to 15.1%, with currency, raw material price pressure, and acquisitions all contributing. Reported EBIT grew by 15%, and the group retu...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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