Assa Abloy : Resilience of margins in Q3, despite a decline in volumes, underpins the group’s best-in-class status
>Volumes down -2% in Q3 but adjusted EBIT margin remains very solid - Yesterday morning, the group reported a solid set of Q3 2023 results, despite lower volumes. Sales rose by 0.5% on an organic basis, of which a volume effect of -2% and a price effect of 2.5%. Adjusted EBIT totalled SEK 5.8bn, up +16%, taking the margin to 15.7%, +10bp. The group benefited from a favourable mix effect (+120bp) thanks to the good performance from the Global Technologies and, to a les...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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