Assa Abloy : Q3 2020 results above expectations, but nothing to prompt an upward revision to estimates
>Q3 was 8% above the consensus at the operating level - The group published yesterday morning its Q3 results with adjusted EBIT 8% above the consensus. Sales fell by -4.5% (vs -6.9%e), underpinned by Europe (-3%) and entrance systems (+1.0%). Adjusted EBIT for exceptional items stood at SEK 3.4bn, i.e. a margin of 15% (vs 14.1% for the consensus).Operating cash flow remained stable at SEK 4.4bn. See page 2 for further details.Same trend as in Q3 (-5%...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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