ASSA ABLOY Confirms Success in Investing in Innovation: Q3 2024 Results

The international company ASSA ABLOY, which offers products and services related to locks, doors, gates, and entrance automation, has announced its Q3 2024 results.

Total sales increased by 1% to 37,418 million Swedish kronor (SEK), approximately $3.37 billion. While organic sales growth was negligible (+0%), acquired and sold assets contributed positively (+4%), whereas currency fluctuations negatively impacted sales (-3%).

Sales figures varied across regions and segments:

• Americas: Continued to show strong growth, particularly in the non-residential real estate segment. Total sales growth in the region was 4%, and the operating margin reached 19.2%.
• Europe, Middle East, and Africa (EMEIA): Stable growth in Central and Northern Europe compensated for declining sales in the Middle East and Africa. Organic growth was 1%.
• Asia-Pacific: ASSA ABLOY reported a sales decline of -6%, mainly due to a significant drop in the Chinese and Southeast Asian markets.
• Global Technologies: The company noted strong growth in identification technologies and access solutions segments. Organic growth in this segment was 2%.
• Entry Systems: Showed mixed dynamics, with growth in pedestrian and perimeter solutions segments, but declines in residential and industrial sectors.

ASSA ABLOY continues to actively expand through acquisitions. In Q3, 7 new acquisitions were completed. Among key companies are SKIDATA and Level Lock, which enable ASSA ABLOY to strengthen its position in access technologies and digital solutions. The sale of the Citizen ID business has also been announced, planned for completion in 2025.

Overall, the company will continue to invest in innovations and new acquisitions, contributing to further growth. However, negative economic trends in China and the weakness of the real estate market remain significant challenges for some divisions.