Assa Abloy : A rather weak start to the year, as expected
>Q1 organic revenue growth 0.4%, adjusted EBIT margin 15.5% (-20 bp) - Sales reached SEK 35.2bn, down 2.0% organically (price +2%, volume -4%) which is in line with our expectations (-1.9%) and slightly below the consensus (-1.4%). The group mentioned 3 fewer working days in March and a continued weak residential market.The Americas (thanks to the US non-residential market) and Entrance systems divisions were a bit more resilient, with revenues down 1% and stable...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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