Assa Abloy : Slightly better-than-expected Q2 results
>Q1 organic growth +23%, adjusted EBIT margin 15.2% - Sales reached SEK 23.6bn, up 23% organically which is above our expectations (19%) and the consensus (20.1%). Acquisitions impacted sales by +5%. The EMEIA and Americas divisions surprised positively on the top-line, with revenues up 39% and 26%, respectively, on a like-for-like basis and EBIT margins up 290bp and 240bp, respectively. Despite flat organic growth (sales declined in Southeast Asia and Chin...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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