Assa Abloy : Hoped for upturn in volumes failed to materialise in Q3, but margin held up well
>Q3 2024: volumes remain on a downtrend at -1.2% - The group reported yesterday morning Q3 2024 results above expectations at the operating level (2%). Revenues rose by 0.3% on an organic basis, of which -1.2% was due to the volume effect (sixth consecutive quarter of negative volumes, after -4.8%e in Q1, -3.3%e in Q2) and +1.5% to the price effect.Adjusted EBIT rose by 8.3% to SEK 6.255bn. The margin gained 100bp to 16.7%, taking the average to 15.9% over 12 rol...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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