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Investing.com -- Assa Abloy (ST:ASSAb) reported second-quarter results that came in slightly ahead of expectations, supported by continued demand for its digital and electromechanical solutions, even as broader market conditions remained subdued.
The company’s shares popped 7% in Stockholm by 09:21 GMT.
The Swedish lockmaker posted an operating profit of SEK 5.96 billion ($611.7 million), down slightly from SEK 6.07 billion a year earlier, but above the SEK 5.85 billion expected by analysts surveyed by LSEG.
Adjusted EBIT reached SEK 6.16 billion, about 5% ahead of consensus, translating to a margin of 16.2%, compared with expectations of 15.7%.
Revenue rose 3% organically to SEK 38.0 billion, beating forecasts by 1%. The strongest division was Global Technologies, which delivered 8% organic revenue growth versus the 6.4% expected. The Americas division also outperformed, growing 4% organically compared to a 1.4% forecast.
“Despite ongoing macroeconomic uncertainty, including the tariff situation in the U.S. and mixed market conditions globally, our decentralized structure and agile approach continues to be a great advantage,” CEO Nico Delvaux said.
While most of Assa Abloy’s U.S. sales are supplied from within the country, the group also imports products from Mexico, China, and Canada. The U.S. accounted for approximately 47% of total revenue last year.