Assa Abloy shares jump on first-quarter operating profit increase

Published 23/04/2025, 08:48
© Reuters.

Investing.com -- Shares in ASSA ABLOY (ST:ASSAb) jumped more than 4% Wednesday after the Swedish lockmaker reported a rise in first-quarter operating earnings and voiced confidence in its ability to navigate shifting market dynamics.

The company said it remains focused on pursuing growth opportunities, while also being prepared to implement cost-saving measures if necessary.

Operating profit for the quarter, excluding items impacting comparability, climbed 4% to 5.65 billion Swedish crowns ($591.1 million).

Despite ongoing challenges tied to China’s sluggish property sector, which has affected the company for several quarters, Assa Abloy’s organic sales in the Asia Pacific region declined 5%. Demand in China remained particularly weak, continuing to pressure performance in that area.

Group-wide organic sales grew 2% in the quarter, while reported sales rose 8%, reflecting the impact of acquisitions.

Assa Abloy (OTC:ASAZY) highlighted solid organic growth in its Global Technologies division and steady performance in Entrance Systems. Among regional operations, the Americas posted healthy gains, whereas the EMEIA region—which includes Europe, the Middle East, India, and Africa—saw flat organic sales overall.

Within EMEIA, sales strength in Central Europe and the Nordic countries was balanced out by softer results in Southern Europe and the Middle East.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.