Assa Abloy : Warning on China that dims the group’s prospects (a little)
>Substantial asset writedowns in China - On Friday, the group announced SEK6bn of exceptional non-cash costs that will be integrated in Q2. These costs are solely linked to the group’s business in China (6% of the group’s sales in 2017) and more specifically concern:SEK4.2bn of goodwill amortisation (the goodwill on the Chinese acquisitions amount to SEK2.4bn after amortisation). SEK1.4bn of amortisation on the other intangibles.SEK0.4bn of write-down...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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