Sweden's Assa Abloy Q1 sales miss on currency headwinds

Assa Abloy AB

28/04/2026 07:11

Overview

Sweden lock maker's Q1 net sales fell 6% yr/yr, missing analyst expectations

Q1 EBIT was a slight miss versus analyst estimates

Company completed three acquisitions with combined annual sales of about SEK 550 mln

Outlook

Company says global geopolitical tensions and macroeconomic uncertainty are impacting customer segments

Assa Abloy says broad geographic diversification and aftermarket sales provide stability in uncertain markets

Company says decentralized business model enables quick response to changing local conditions

Result Drivers

CURRENCY HEADWINDS - Co said a significant negative currency effect of –10% offset organic and acquired growth

REGIONAL VARIATION - Americas, Global Technologies and EMEIA divisions saw good organic growth, while Entrance Systems and Asia Pacific were stable; North America Residential segment declined due to elevated interest rates, a challenging housing market and snowstorms

OPERATING LEVERAGE - Co said operating margin improved year-on-year due to strong operating leverage, more than offsetting negative currency and acquisition effects

Company press release: ID:nWkr35n1zv

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Sales
Miss
SEK 35.75 bln
SEK 36.16 bln (12 Analysts)
Q1 EPS
SEK 3.18
Q1 Net Income
SEK 3.54 bln
Q1 EBIT
Slight Miss*
SEK 5.46 bln
SEK 5.47 bln (11 Analysts)
Q1 EBITA Margin
16.40%


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 7 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the construction supplies & fixtures peer group is "buy"

Wall Street's median 12-month price target for Assa Abloy AB is SEK395.00, about 7.7% above its April 27 closing price of SEK366.70

The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 22 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)