In connection with ASSA ABLOY's Capital Markets Day on 17 November Johan Molin, President and CEO, reconfirmed that the financial targets set in 2008 remains unchanged.
The overall financial targets are to achieve an average growth of 10 percent annually by a combination of organic and acquired growth and an operating margin (EBIT) of 16-17 percent. The targets are long term and should be seen as an average over a business cycle.
As previously communicated in the quarterly report on 28 October the CEO stated that short term the business cycle on the mature markets remains weak but stable because of cuts in public funding, while the trend on the emerging markets is expected to remain positive, although at a lower level than before.
The long-term outlook remains unchanged compared to the last published in the quarterly report on 28 October *).
*) Long term outlook published October 28, 2011
Long term, ASSA ABLOY expects an increase in security-driven demand. Focus on end-user value and innovation as well as leverage on ASSA ABLOY's strong position will accelerate growth and increase profitability.
Organic sales growth is expected to continue at a good rate. The operating margin (EBIT) and operating cash flow are expected to develop well.
For more information, please contact:
Johan Molin, President and CEO, tel no: +46 8 506 485 42
Tomas Eliasson, CFO and Executive Vice President, tel no: +46 8 506 485 72
ASSA ABLOY discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 11.30 CET on 17 November.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: ASSA ABLOY via Thomson Reuters ONE
