ASSA ABLOY Announces Preliminary Result for the First Quarter 2020
ASSA ABLOY UNSP/ADR (ASAZY)
NASDAQ:AMEX Investor Relations:
assaabloy.com/en/com/investors
Company Research
Source: PR Newswire
STOCKHOLM, April 7, 2020 /PRNewswire/ -- To provide increased certainty about the financial development following the outbreak of Covid-19, ASSA ABLOY today announces its preliminary result for the first quarter 2020. "Due to the spread of Covid-19 and the unprecedented lock down globally in our core markets, the start of 2020 has been challenging. To address the situation, we have taken a series of measures to preserve the health and safety of our employees, customers and suppliers. These measures range from more stringent health checks and other safety measures in our operations to factory closures and increased number of employees working from home", says Nico Delvaux, President and CEO of ASSA ABLOY.ASSA ABLOY Group's sales increased in the first quarter by 3% to SEK 22,173 M (21,505). Organic sales growth was -3% (5). Operating profit, EBIT, amounted to SEK 2,751 M (3,246) corresponding to an operating margin of 12.4% (15.1). Organic growth declined by -34% in APAC and by -4% in
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