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Assa Abloy AB - ASAZY STOCK NEWS

Welcome to our dedicated news page for Assa Abloy AB (Ticker: ASAZY), a resource for investors and traders seeking the latest updates and insights on Assa Abloy AB.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Assa Abloy AB's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Assa Abloy AB's position in the market.

Rhea-AI Summary
ASSA ABLOY acquires Lawrence Hardware and Gallery Specialty, strengthening their position in mature markets and expanding their product portfolio.
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Rhea-AI Sentiment
End-of-Day
-0.45%
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Rhea-AI Summary
ASSA ABLOY (ASAB) Acquires Sunray Engineering Group Ltd, a UK-Based Manufacturer of High Specification Doors and Louvre Systems
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Rhea-AI Sentiment
End-of-Day
-1.49%
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Rhea-AI Summary
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Rhea-AI Sentiment
End-of-Day
-3.22%
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Rhea-AI Summary
In the second quarter, the company reported a 17% increase in net sales, reaching SEK 34,474 M. The organic growth was 3%, while acquired net growth was 6%. The acquisition of Spectrum Brands' Hardware and Home improvement division was completed, and the divestment of Emtek and Smart Residential business was also finalized. Operating income increased by 25% to SEK 5,500 M, with an operating margin of 16.0%. Net income amounted to SEK 3,731 M, and earnings per share were SEK 3.36. Operating cash flow was SEK 6,671 M, representing a significant increase of 76%.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.22%
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Rhea-AI Summary
ASSA ABLOY reports one-off non-cash costs of SEK 2.2bn in Q2 2023, primarily related to the Citizen ID business. The costs are due to impairment of goodwill and other intangible assets. The company aims to improve the profitability of Citizen ID.
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Rhea-AI Sentiment
End-of-Day
-2.3%
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Rhea-AI Summary
ASSA ABLOY completes acquisition of Spectrum Brands' Hardware and Home Improvement division and divests Emtek and Smart Residential business to Fortune Brands. The acquisition of HHI is expected to have a positive impact on ASSA ABLOY's business, with HHI's net sales of MUSD 1,652 and adjusted EBITDA margin of 15.6%. The total consideration for the acquisition is MUSD 4,300, with expected EBIT synergies of around MUSD 100 within five years. However, the acquisition is initially dilutive to the operating margin and EPS. The divestment of Emtek and Smart Residential business represented sales of about MUSD 400 in 2022, with a selling price of MUSD 800. The preliminary divestment result is estimated to be about MUSD 300.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.3%
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Rhea-AI Summary
ASSA ABLOY has received clearance from the Mexican competition authority to acquire Spectrum Brands' Hardware and Home Improvement division. The HHI acquisition is expected to close by the end of June 2023.
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Rhea-AI Sentiment
End-of-Day
0.35%
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Rhea-AI Summary
ASSA ABLOY has reached a settlement agreement with the U.S. Department of Justice regarding its acquisition of Spectrum Brands' Hardware and Home Improvement division. As part of the settlement, ASSA ABLOY will divest Emtek and the Smart Residential business in the U.S. and Canada to Fortune Brands. The HHI acquisition is expected to close by the end of June 2023.
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-0.52%
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Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.52%
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Assa Abloy AB

OTC:ASAZY

ASAZY Rankings

ASAZY Stock Data

31.25B
970.43M
0.28%
Electrical Contractors and Other Wiring Installation Contractors
Construction
Link
Sweden
Stockholm