ASSA ABLOY - Solid Underlying Development in the Fourth Quarter

STOCKHOLM, Feb 02, 2017

Fourth quarter

• Sales increased by 6% to SEK 19,484 M (18,301), with organic growth of 1% (5). Acquisitions and divestments were 2%, with 3% acquisitions and -1% divestments
• Good growth for Entrance Systems and EMEA and growth for Americas and Global Technologies
• Negative growth for Asia Pacific, mainly due to weak demand in China
• The previously announced restructuring program has been launched with an operating cost of SEK 1,597 M
• Operating income(1) (EBIT) was SEK 2,913 M (3,038), corresponding to an operating margin of 15.0% (16.6)
•  Adjusted operating income excluding a write down in China of SEK 300 M, was SEK 3,213 M (3,038) corresponding to a margin of 16.5% (16.6).
• Net income(1) amounted to SEK 2,088 M (2,120)
• Earnings per share(1) amounted to SEK 1.88 (1.91)
• Operating cash flow remained strong and amounted to SEK 4,620 M (4,625)
• The Board of Directors proposes a dividend of SEK 3.00 per share for 2016.

Sales and income