By Elena Vardon
Assa Abloy's second quarter sales and profit beat expectations despite headwinds from currency effects and challenging market conditions.
The Swedish lock maker on Thursday reported 3.96 billion Swedish kronor, equivalent to $407.7 million, in net profit for the three months ended June 30, which was a touch higher than its 3.93 billion kronor result a year earlier. It beat estimates for a 3.76 billion kronor result taken from a Visible Alpha poll.
Net sales came in at 38.015 billion kronor, resulting in organic growth of 3% and acquired net growth of 5%. Consensus had penciled in a top line of 37.54 billion kronor.
The group flagged strong growth in its global technologies division and good performance in the Americas, along with slower growth in its entrance systems unit, and a decline in sales in the Europe, Middle East, India and Africa and Asia Pacific regions.
Earnings before interest and taxes edged up 1% to 6.155 billion kronor, it added.
Total sales growth was flat due to the currency effects, which posed a negative 8% headwind, it said.
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
July 17, 2025 02:42 ET (06:42 GMT)
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