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ASSA ABLOY UNSP/ADR (ASAZY) is a global leader in access solutions, specializing in the development, manufacturing, and sale of door opening and trusted identity systems. With operations worldwide and a strong focus on innovative technologies, ASSA ABLOY has secured a leading market position. Recent acquisitions of EVOLIS S.A. and Messerschmitt Systems have further expanded its product portfolio, offering comprehensive solutions for a variety of industries. The company's commitment to sustainable growth, operational excellence, and customer satisfaction ensures its success in an ever-evolving market.
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ASSA ABLOY reports strong Q3 2023 results with a 16% increase in net sales and a record high operating margin. The company signed ten acquisitions in the quarter, contributing to long-term growth. Strong long-term growth trends in sustainability and digitalization support profitable growth.
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ASSA ABLOY AB has announced the members of the Nomination Committee for the 2024 Annual General Meeting. The committee will prepare proposals for the election of board members, auditors, and fees for various positions.
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ASSA ABLOY acquires Lawrence Hardware and Gallery Specialty, strengthening their position in mature markets and expanding their product portfolio.
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ASSA ABLOY (ASAB) Acquires Sunray Engineering Group Ltd, a UK-Based Manufacturer of High Specification Doors and Louvre Systems
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In the second quarter, the company reported a 17% increase in net sales, reaching SEK 34,474 M. The organic growth was 3%, while acquired net growth was 6%. The acquisition of Spectrum Brands' Hardware and Home improvement division was completed, and the divestment of Emtek and Smart Residential business was also finalized. Operating income increased by 25% to SEK 5,500 M, with an operating margin of 16.0%. Net income amounted to SEK 3,731 M, and earnings per share were SEK 3.36. Operating cash flow was SEK 6,671 M, representing a significant increase of 76%.
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ASSA ABLOY reports one-off non-cash costs of SEK 2.2bn in Q2 2023, primarily related to the Citizen ID business. The costs are due to impairment of goodwill and other intangible assets. The company aims to improve the profitability of Citizen ID.
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ASSA ABLOY completes acquisition of Spectrum Brands' Hardware and Home Improvement division and divests Emtek and Smart Residential business to Fortune Brands. The acquisition of HHI is expected to have a positive impact on ASSA ABLOY's business, with HHI's net sales of MUSD 1,652 and adjusted EBITDA margin of 15.6%. The total consideration for the acquisition is MUSD 4,300, with expected EBIT synergies of around MUSD 100 within five years. However, the acquisition is initially dilutive to the operating margin and EPS. The divestment of Emtek and Smart Residential business represented sales of about MUSD 400 in 2022, with a selling price of MUSD 800. The preliminary divestment result is estimated to be about MUSD 300.
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ASSA ABLOY has received clearance from the Mexican competition authority to acquire Spectrum Brands' Hardware and Home Improvement division. The HHI acquisition is expected to close by the end of June 2023.
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ASSA ABLOY has reached a settlement agreement with the U.S. Department of Justice regarding its acquisition of Spectrum Brands' Hardware and Home Improvement division. As part of the settlement, ASSA ABLOY will divest Emtek and the Smart Residential business in the U.S. and Canada to Fortune Brands. The HHI acquisition is expected to close by the end of June 2023.
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FAQ
What is the current stock price of ASSA ABLOY UNSP/ADR (ASAZY)?
The current stock price of ASSA ABLOY UNSP/ADR (ASAZY) is $14.7 as of December 20, 2024.
What is the market cap of ASSA ABLOY UNSP/ADR (ASAZY)?
The market cap of ASSA ABLOY UNSP/ADR (ASAZY) is approximately 35.1B.
What is ASSA ABLOY UNSP/ADR known for?
ASSA ABLOY UNSP/ADR (ASAZY) is recognized for its expertise in access solutions, particularly in door openings and trusted identity systems.
What recent acquisitions has ASSA ABLOY made?
ASSA ABLOY recently acquired EVOLIS S.A., a leading French manufacturer of ID card printers, and Messerschmitt Systems, a German developer of access control solutions for the hospitality market.
Where is ASSA ABLOY UNSP/ADR headquartered?
ASSA ABLOY UNSP/ADR (ASAZY) is headquartered in Stockholm, Sweden, with a global presence and operations across various regions.
How does ASSA ABLOY ensure sustainable growth?
ASSA ABLOY focuses on long-term growth trends, such as sustainability and digitalization, to drive innovation and adapt to changing market demands.
What sets ASSA ABLOY apart in the market?
ASSA ABLOY's emphasis on security, advanced authentication methods, encryption technologies, and electromechanical solutions sets it apart in delivering safe, secure, and convenient access solutions.
What is ASSA ABLOY's strategic approach to acquisitions?
ASSA ABLOY strategically acquires companies to strengthen its market position, expand its product portfolio, and realize synergies for sustainable growth.
How does ASSA ABLOY adapt to market conditions?
ASSA ABLOY's agile business model, focus on cost control, operational excellence, and customer value delivery enable it to adapt and perform well in any market condition.
What is ASSA ABLOY's outlook for the future?
ASSA ABLOY remains committed to delivering value to customers and shareholders, with a strong financial position, robust pipeline, and a focus on accelerating long-term profitable growth through innovation and acquisitions.
ASSA ABLOY UNSP/ADR
OTC:ASAZY
ASAZY Rankings
ASAZY Stock Data
35.05B
2.11B
0.28%
Security & Protection Services
Industrials
United States of America
Stockholm