Assa Abloy : Q2 EBIT showed better resilience, beating consensus by 21%
>Q2 organic growth -18%, adjusted EBIT margin 10.5% - Sales reached SEKÂ 20bn, down 18% organically which is below our expectations (-13%) but above the consensus (-23%). Acquisitions impacted sales by +3%. The Asia-Pacific division surprised positively with revenues down 17% on a like-for-like basis and an EBIT margin drop of just 210bp to 7.1%. EMEA and Global Tech generated the weakest growths (-25% organic) and conversely Entrance Systems showed strong re...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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