Assa Abloy : Q2 figures much better and Q3 set for a gradual improvement
>Q2 better than expected - Assa Abloy on Friday morning reported its Q2 2020 results, with EBIT beating consensus expectations by over 20%. Revenues declined by 17.8% (vs 23% expected) and EBIT came in at SEK 2.1bn, a decline of 44%, i.e. a margin of 10.5% (vs 9.1% for the consensus).Operating cash flow dropped by just 6% to SEK 3.4bn.See page 2 for further details.June posted a double-digit decline, but the start of July was better - The co...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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