Assa Abloy : Le T2 devrait être compliqué mais peut-être moins que ce que l’on craint
>Le T2 sera très compliqué …. - Nous estimons qu’Assa Abloy a été le groupe le plus prudent dans ses commentaires lors de la publication des T1. Il est vrai que la marge d’EBIT avait déçu (-270 pb pour un CA en recul de 3.5% en organique). Le management avait indiqué avoir pris des mesures fortes d’adaptation des coûts (ne croyant pas à une reprise en V) et prévoir un T2 en très fort recul. Nous retenons d’un contact récent les éléments suivants :La situation s’...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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