Assa Abloy : Q1: very robust growth, disappointing EBIT margin
>Q1 2019: 5.4% organic growth but -20bp on the EBIT margin - Assa Abloy yesterday published its Q1 2019 results, which came in above forecasts for the top line and slightly below forecasts for the EBIT margin. We retain the following factors:organic growth of 5.4% (6.4% in Q4) incl. 2% price effect, buoyed by the Americas and Global Tech division (respectively 10% and 9% organic growth) whilst the EMEA division and China posted more modest growth (3% 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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